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Company Registration No. 08781340 (England and Wales)
LEGION HOUSE DEVELOPMENTS LTD Unaudited accounts for the year ended 30 November 2023
LEGION HOUSE DEVELOPMENTS LTD Unaudited accounts Contents
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LEGION HOUSE DEVELOPMENTS LTD Company Information for the year ended 30 November 2023
Director
M P Lewis
Company Number
08781340 (England and Wales)
Registered Office
151 WHITELADIES ROAD CLIFTON BRISTOL BS8 2RA
Accountants
FARQUHAR PARTNERSHIP LIMITED 151 WHITELADIES ROAD CLIFTON BRISTOL BS8 2RA
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LEGION HOUSE DEVELOPMENTS LTD Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
23,835 
27,538 
Investment property
20,166,750 
25,330,000 
20,190,585 
25,357,538 
Current assets
Inventories
1,000 
1,000 
Debtors
196,205 
131,420 
Cash at bank and in hand
89,974 
61,435 
287,179 
193,855 
Creditors: amounts falling due within one year
(357,891)
(565,859)
Net current liabilities
(70,712)
(372,004)
Total assets less current liabilities
20,119,873 
24,985,534 
Creditors: amounts falling due after more than one year
(9,081,993)
(10,366,672)
Provisions for liabilities
Deferred tax
(485,344)
(1,379,059)
Net assets
10,552,536 
13,239,803 
Capital and reserves
Called up share capital
4,680,000 
4,680,000 
Share premium
3,778,051 
3,778,051 
Fair value reserve
1,013,801 
4,403,646 
Profit and loss account
1,080,684 
378,106 
Shareholders' funds
10,552,536 
13,239,803 
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 November 2024 and were signed on its behalf by
M P Lewis Director Company Registration No. 08781340
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LEGION HOUSE DEVELOPMENTS LTD Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
LEGION HOUSE DEVELOPMENTS LTD is a private company, limited by shares, registered in England and Wales, registration number 08781340. The registered office is 151 WHITELADIES ROAD, CLIFTON, BRISTOL, BS8 2RA .
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% Reducing balance
Motor vehicles
25% Reducing balance
Fixtures & fittings
15% Reducing balance
Computer equipment
25% Reducing balance
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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LEGION HOUSE DEVELOPMENTS LTD Notes to the Accounts for the year ended 30 November 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss. Government grants in relation to covid assistance are credited to profit and loss using the accruals model and are recognised in Other operating income.
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LEGION HOUSE DEVELOPMENTS LTD Notes to the Accounts for the year ended 30 November 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 December 2022
12,181 
11,223 
23,936 
47,340 
Additions
357 
- 
560 
917 
At 30 November 2023
12,538 
11,223 
24,496 
48,257 
Depreciation
At 1 December 2022
5,656 
3,439 
10,707 
19,802 
Charge for the year
1,092 
1,460 
2,068 
4,620 
At 30 November 2023
6,748 
4,899 
12,775 
24,422 
Net book value
At 30 November 2023
5,790 
6,324 
11,721 
23,835 
At 30 November 2022
6,525 
7,784 
13,229 
27,538 
5
Investment property
2023 
£ 
Fair value at 1 December 2022
25,330,000 
Disposals
(2,088,600)
Net loss from fair value adjustments
(3,074,650)
At 30 November 2023
20,166,750 
Investment properties are recognised in the accounts at fair value based on Director's valuation. The historic cost of these investments were £17,721,427.
6
Inventories
2023 
2022 
£ 
£ 
Raw materials
1,000 
1,000 
1,000 
1,000 
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
38,845 
22,036 
Accrued income and prepayments
3,397 
4,101 
Other debtors
153,963 
105,283 
196,205 
131,420 
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LEGION HOUSE DEVELOPMENTS LTD Notes to the Accounts for the year ended 30 November 2023
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
274,353 
366,448 
Trade creditors
9,994 
17,854 
Taxes and social security
6,908 
19,313 
Other creditors
46,966 
48,526 
Accruals
19,670 
113,718 
357,891 
565,859 
9
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
9,081,993 
10,366,672 
Creditors include secured bank loans of £9,356,345 (2022 - £10,733,120). The loans are secured by way of a fixed and floating charge over the company's property.
10
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
4,680,000 Ordinary shares of £1 each
4,680,000 
4,680,000 
11
Operating lease commitments
2023 
2022 
£ 
£ 
At 30 November 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
30,000 
30,000 
Later than one year and not later than five years
88,750 
103,750 
Later than five years
25,000 
40,000 
143,750 
173,750 
12
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
M P Lewis
Interest free loan, repayable on demand
39,768 
2,389 
42,157 
- 
39,768 
2,389 
42,157 
- 
13
Average number of employees
During the year the average number of employees was 5 (2022: 5).
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