IRIS Accounts Production v24.3.0.553 08112669 Board of Directors 1.5.23 30.4.24 30.4.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh081126692023-04-30081126692024-04-30081126692023-05-012024-04-30081126692022-04-30081126692022-05-012023-04-30081126692023-04-3008112669ns15:EnglandWales2023-05-012024-04-3008112669ns14:PoundSterling2023-05-012024-04-3008112669ns10:Director12023-05-012024-04-3008112669ns10:PrivateLimitedCompanyLtd2023-05-012024-04-3008112669ns10:SmallEntities2023-05-012024-04-3008112669ns10:AuditExempt-NoAccountantsReport2023-05-012024-04-3008112669ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-3008112669ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-3008112669ns10:FullAccounts2023-05-012024-04-3008112669ns10:Director22023-05-012024-04-3008112669ns10:RegisteredOffice2023-05-012024-04-3008112669ns5:CurrentFinancialInstruments2024-04-3008112669ns5:CurrentFinancialInstruments2023-04-3008112669ns5:Non-currentFinancialInstruments2024-04-3008112669ns5:Non-currentFinancialInstruments2023-04-3008112669ns5:ShareCapital2024-04-3008112669ns5:ShareCapital2023-04-3008112669ns5:FurtherSpecificReserve3ComponentTotalEquity2024-04-3008112669ns5:FurtherSpecificReserve3ComponentTotalEquity2023-04-3008112669ns5:RetainedEarningsAccumulatedLosses2024-04-3008112669ns5:RetainedEarningsAccumulatedLosses2023-04-3008112669ns5:PlantMachinery2023-05-012024-04-3008112669ns5:PlantMachinery2023-04-3008112669ns5:PlantMachinery2024-04-3008112669ns5:PlantMachinery2023-04-3008112669ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-3008112669ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-3008112669ns5:Secured2024-04-3008112669ns5:Secured2023-04-3008112669ns5:FurtherSpecificReserve3ComponentTotalEquity2023-04-30
REGISTERED NUMBER: 08112669 (England and Wales)















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: H Tayefi
Dr P Tayefi





REGISTERED OFFICE: Unit 4A Lodge Works
Birchill Road
Knowsley Industrial Park
Liverpool
Merseyside
L33 7TD





REGISTERED NUMBER: 08112669 (England and Wales)





ACCOUNTANTS: Cobham Murphy PHD Limited
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 1,600 4,878
Investment property 5 989,003 976,500
990,603 981,378

CURRENT ASSETS
Debtors 6 61,005 14,685
Cash at bank 60,735 163,348
121,740 178,033
CREDITORS
Amounts falling due within one year 7 256,806 309,421
NET CURRENT LIABILITIES (135,066 ) (131,388 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

855,537

849,990

CREDITORS
Amounts falling due after more than one
year

8

(524,693

)

(534,127

)

PROVISIONS FOR LIABILITIES (87,689 ) (66,212 )
NET ASSETS 243,155 249,651

CAPITAL AND RESERVES
Called up share capital 300 300
Fair value reserve 10 263,067 282,274
Retained earnings (20,212 ) (32,923 )
SHAREHOLDERS' FUNDS 243,155 249,651

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.

Leedex Properties Limited (Registered number: 08112669)

Balance Sheet - continued
30 April 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 January 2025 and were signed on its behalf by:





H Tayefi - Director


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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on cost

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 5,621
Disposals (3,621 )
At 30 April 2024 2,000
DEPRECIATION
At 1 May 2023 743
Charge for year 200
Eliminated on disposal (543 )
At 30 April 2024 400
NET BOOK VALUE
At 30 April 2024 1,600
At 30 April 2023 4,878

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 976,500
Additions 10,233
Revaluations 2,270
At 30 April 2024 989,003
NET BOOK VALUE
At 30 April 2024 989,003
At 30 April 2023 976,500

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 198 6,670
Amounts owed by participating interests 52,279 -
Other debtors 8,528 8,015
61,005 14,685

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 36,626 36,626
Trade creditors 3,544 10,360
Amounts owed to participating interests 148,313 190,086
Taxation and social security 1,875 3,146
Other creditors 66,448 69,203
256,806 309,421

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 524,693 534,127

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 561,319 570,753

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 282,274
Revaluation (19,207 )

At 30 April 2024 263,067

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.