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REGISTERED NUMBER: 03266982 (England and Wales)


















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Landale Limited

Landale Limited (Registered number: 03266982)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Landale Limited (Registered number: 03266982)

Balance Sheet
30 April 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 382,018 389,660
Investment property 5 2,649,999 2,649,999
3,032,017 3,039,659

CURRENT ASSETS
Stocks 600,000 450,000
Debtors 6 974,875 577,703
Cash at bank and in hand 524,666 690,862
2,099,541 1,718,565
CREDITORS
Amounts falling due within one year 7 (744,795 ) (425,085 )
NET CURRENT ASSETS 1,354,746 1,293,480
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,386,763

4,333,139

CREDITORS
Amounts falling due after more than one year 8 (137,037 ) (417,840 )

PROVISIONS FOR LIABILITIES (448,491 ) (446,207 )
NET ASSETS 3,801,235 3,469,092

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 11 1,313,437 1,313,437
Retained earnings 2,487,698 2,155,555
SHAREHOLDERS' FUNDS 3,801,235 3,469,092

Landale Limited (Registered number: 03266982)

Balance Sheet - continued
30 April 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





Y Meshulam - Director


Landale Limited (Registered number: 03266982)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Landale Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03266982

Registered office: Treviot House
186-192 High Road
Ilford
Essex
IG1 1LR

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Turnover
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - Straight line over 50 years
Improvements to property - Straight line over 50 years
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investment property
Investment property is included at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks
Stocks have be valued at the lower of cost and estimated selling price less costs to sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Landale Limited (Registered number: 03266982)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments
Fixed asset investments are stated at cost less provision for permanent diminution in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 377,373 307,017 684,390
Additions - 14,888 14,888
At 30 April 2024 377,373 321,905 699,278
DEPRECIATION
At 1 May 2023 98,117 196,613 294,730
Charge for year 7,547 14,983 22,530
At 30 April 2024 105,664 211,596 317,260
NET BOOK VALUE
At 30 April 2024 271,709 110,309 382,018
At 30 April 2023 279,256 110,404 389,660

Landale Limited (Registered number: 03266982)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 2,649,999
NET BOOK VALUE
At 30 April 2024 2,649,999
At 30 April 2023 2,649,999

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 797,121 -
Amounts owed by related parties 85,962 183,044
Other debtors 91,792 394,659
974,875 577,703

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 54,122 54,122
Trade creditors - 88,803
Taxation and social security 171,492 192,268
Other creditors 519,181 89,892
744,795 425,085

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 137,037 417,840

Amounts falling due in more than five years:

Repayable by instalments
Bank loans > 5 years - 201,352

Landale Limited (Registered number: 03266982)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 5,087 -
Between one and five years 1,272 -
6,359 -

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loan 191,159 475,198

The bank loan is secured over the investment property held within the company.

11. RESERVES
Fair
value
reserve
£   
At 1 May 2023
and 30 April 2024 1,313,437

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to the directors subsisted during the years ended 30 April 2024 and 30 April 2023:

Directors 1 & 220242023
£   £   
Amounts advanced68,75264,463
Amounts repaid(77,500)(75,026)


The loans to all directors are repayable on demand. Interest is charged on loans at the official rate of interest set by HMRC.

13. RELATED PARTY DISCLOSURES

The directors have guaranteed the loan by way of joint and several guarantees limited to £350,000 plus interest and costs.