REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 April 2024 |
for |
Leedex Properties Limited |
REGISTERED NUMBER: |
Financial Statements for the Year Ended 30 April 2024 |
for |
Leedex Properties Limited |
Leedex Properties Limited (Registered number: 08112669) |
Contents of the Financial Statements |
for the Year Ended 30 April 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Leedex Properties Limited |
Company Information |
for the Year Ended 30 April 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
116 Duke Street |
Liverpool |
L1 5JW |
Leedex Properties Limited (Registered number: 08112669) |
Balance Sheet |
30 April 2024 |
30.4.24 | 30.4.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 10 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
Leedex Properties Limited (Registered number: 08112669) |
Balance Sheet - continued |
30 April 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Leedex Properties Limited (Registered number: 08112669) |
Notes to the Financial Statements |
for the Year Ended 30 April 2024 |
1. | STATUTORY INFORMATION |
Leedex Properties Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 08112669 and the registered office is Unit 4A Lodge Works, Birchill Road, Knowsley Industrial Park, Liverpool, Merseyside L33 7TD. |
The presentational and functional currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The directors consider that the going concern assumption is appropriate despite the loss and net current liability position as they believe they will be able to meet company obligations as they become due. The company receives support from its holding company and the directors are hoping that next 12 months will see the situation improve. |
Significant judgements and estimates |
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements. |
Turnover |
Turnover represents the rental income from investment properties and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
Financial instruments |
Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Leedex Properties Limited (Registered number: 08112669) |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2023 |
Disposals | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 May 2023 |
Additions |
Revaluations | 2,270 |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
Leedex Properties Limited (Registered number: 08112669) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 30 April 2024 is represented by: |
£ |
Valuation in 2017 | 42,279 |
Valuation in 2019 | 351,446 |
Valuation in 2021 | (87,989 | ) |
Valuation in 2022 | 110,320 |
Valuation in 2023 | (67,569 | ) |
Valuation in 2024 | 2,269 |
Cost | 638,247 |
989,003 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Trade debtors |
Amounts owed by participating interests | 52,279 | - |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to participating interests | 148,313 | 190,086 |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yr by instal | 378,189 | 387,623 |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.24 | 30.4.23 |
£ | £ |
Bank loans |
Leedex Properties Limited (Registered number: 08112669) |
Notes to the Financial Statements - continued |
for the Year Ended 30 April 2024 |
10. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 May 2023 |
Revaluation | (19,207 | ) |
At 30 April 2024 |
11. | RELATED PARTY DISCLOSURES |
Included within Other Debtors at the balance sheet date is £46,941 (2023: £3,537 creditor) owing from Leedex Group Ltd, the parent company, and £5,338 (2023: £1,142 creditor) owing from Leedex Lettings Ltd, a company related by virtue of common shareholders. |
Included within Other Creditors at the balance sheet date is £148,313 (2023: £185,407) owing from Leedex Properties Ltd, a company related by virtue of common shareholders. |
These balances are due on demand therefore no interest has been charged. |