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Company registration number: 14179299
Langham Real Estate Limited
Unaudited filleted financial statements
31 March 2024
THE BARKER PARTNERSHIP
Chartered Accountants
Thirsk
Langham Real Estate Limited
Contents
Directors and other information
Accountants report
Balance sheet
Notes to the financial statements
Langham Real Estate Limited
Directors and other information
Directors Mr P J Davison
Mr T W Marwood-Buckle
Company number 14179299
Registered office 17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
Accountants The Barker Partnership
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
Langham Real Estate Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Langham Real Estate Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Langham Real Estate Limited for the year ended 31 March 2024 which comprise the Balance Sheet and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Langham Real Estate Limited, as a body, in accordance with the terms of our engagement letter dated 13 July 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Langham Real Estate Limited and state those matters that we have agreed to state to the board of directors of Langham Real Estate Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Langham Real Estate Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Langham Real Estate Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Langham Real Estate Limited. You consider that Langham Real Estate Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Langham Real Estate Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
The Barker Partnership
Chartered Accountants
17 Central Buildings
Market Place
Thirsk
North Yorkshire
YO7 1HD
20 November 2024
Langham Real Estate Limited
Balance sheet
31 March 2024
31/03/24 31/03/23
Note £ £ £ £
Fixed assets
Tangible assets 521,869 -
_______ _______
521,869 -
Current assets
Debtors - 100
Cash at bank and in hand 9,226 -
_______ _______
9,226 100
Creditors: amounts falling due
within one year 5 ( 4,354) -
_______ _______
Net current assets 4,872 100
_______ _______
Total assets less current liabilities 526,741 100
Creditors: amounts falling due
after more than one year 6 ( 537,316) -
_______ _______
Net (liabilities)/assets ( 10,575) 100
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 10,675) -
_______ _______
Shareholders (deficit)/funds ( 10,575) 100
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit & loss account has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 November 2024 , and are signed on behalf of the board by:
Mr T W Marwood-Buckle
Director
Company registration number: 14179299
Langham Real Estate Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 17 Central Buildings, Market Place, Thirsk, North Yorkshire, YO7 1HD.
The nature of the business is that of letting and operating of real estate.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Creditors: amounts falling due within one year
31/03/24 31/03/23
£ £
Corporation tax 714 -
Other creditors 3,640 -
_______ _______
4,354 -
_______ _______
6. Creditors: amounts falling due after more than one year
31/03/24 31/03/23
£ £
Other creditors 537,316 -
_______ _______
7. Related party transactions
Included within creditors is an amount of £443,424 due to PHD Capital Ltd, a company controlled by one of the directors. Interest is payable on the loan on a quarterly basis.
Included within creditors is an amount of £103,892 due to M & C Capital Ltd, a company controlled by one of the directors. Interest is payable on the loan on a quarterly basis.