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REGISTERED NUMBER: 06502543 (England and Wales)



















ACCA LAND LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






ACCA LAND LIMITED (REGISTERED NUMBER: 06502543)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Balance Sheet 1

Notes to the Financial Statements 2


ACCA LAND LIMITED (REGISTERED NUMBER: 06502543)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 105,833 67,215
Investment property 5 13,958,054 9,990,240
14,063,887 10,057,455

CURRENT ASSETS
Debtors 6 3,089,233 2,065,546
Cash at bank 102,765 552,269
3,191,998 2,617,815
CREDITORS
Amounts falling due within one year 7 828,051 539,553
NET CURRENT ASSETS 2,363,947 2,078,262
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,427,834

12,135,717

CREDITORS
Amounts falling due after more than one
year

8

(12,693,936

)

(8,409,061

)

PROVISIONS FOR LIABILITIES (713,795 ) (713,795 )
NET ASSETS 3,020,103 3,012,861

CAPITAL AND RESERVES
Called up share capital 10 10
Fair value reserve 10 2,448,814 2,448,814
Retained earnings 571,279 564,037
SHAREHOLDERS' FUNDS 3,020,103 3,012,861

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 3 December 2024 and were signed on its behalf by:




L S Sohal - Director



J S Sohal - Director


ACCA LAND LIMITED (REGISTERED NUMBER: 06502543)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

ACCA Land 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: 06502543

Registered office: 71 Knowl Piece
Wilbury Way
Hitchin
SG4 0TY

The presentation 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 have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are again prepared on the going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion, there are no significant judgements or key sources of estimation uncertainty.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover also represents rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Motor vehicles - 20% on cost
Computer equipment - 33% 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.


ACCA LAND LIMITED (REGISTERED NUMBER: 06502543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Going concern
The directors have a reasonable expectation that the company will continue to operate for the foreseeable future and so these financial statements are prepared on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

ACCA LAND LIMITED (REGISTERED NUMBER: 06502543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 82,325 1,041 83,366
Additions 115,000 - 115,000
Disposals (82,325 ) - (82,325 )
At 31 March 2024 115,000 1,041 116,041
DEPRECIATION
At 1 April 2023 15,110 1,041 16,151
Charge for year 9,167 - 9,167
Eliminated on disposal (15,110 ) - (15,110 )
At 31 March 2024 9,167 1,041 10,208
NET BOOK VALUE
At 31 March 2024 105,833 - 105,833
At 31 March 2023 67,215 - 67,215

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 81,325
Additions 110,000
Disposals (81,325 )
At 31 March 2024 110,000
DEPRECIATION
At 1 April 2023 14,910
Charge for year 9,167
Eliminated on disposal (14,910 )
At 31 March 2024 9,167
NET BOOK VALUE
At 31 March 2024 100,833
At 31 March 2023 66,415

ACCA LAND LIMITED (REGISTERED NUMBER: 06502543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 9,990,240
Additions 3,967,814
At 31 March 2024 13,958,054
NET BOOK VALUE
At 31 March 2024 13,958,054
At 31 March 2023 9,990,240

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2012 167,494
Valuation in 2013 126,921
Valuation in 2014 (74,265 )
Valuation in 2015 467,543
Valuation in 2017 339,828
Valuation in 2021 271,017
Valuation in 2022 1,864,071
Cost 10,795,445
13,958,054

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 10,795,445 6,827,631

The investment properties were valued on an open market basis on 31 March 2024 by the directors .

6. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 26,880 -
Other debtors 1,189,303 998,060
1,216,183 998,060

Amounts falling due after more than one year:
Amounts owed by group undertakings 1,873,050 1,067,486

Aggregate amounts 3,089,233 2,065,546

ACCA LAND LIMITED (REGISTERED NUMBER: 06502543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 86,400 62,463
Hire purchase contracts 17,500 3,053
Trade creditors 33,744 42,496
Taxation and social security 19,752 10,446
Other creditors 670,655 421,095
828,051 539,553

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 6,541,765 4,279,286
Hire purchase contracts 46,667 46,921
Amounts owed to group undertakings 6,105,504 4,082,854
12,693,936 8,409,061

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 6,196,165 4,029,433

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 6,628,165 4,341,749
Hire purchase contracts 64,167 49,974
6,692,332 4,391,723

10. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 2,448,814

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Domenico Maurello (Senior Statutory Auditor)
for and on behalf of Keelings Limited

ACCA LAND LIMITED (REGISTERED NUMBER: 06502543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

12. RELATED PARTY DISCLOSURES

Larentia Capital Limited
A company in which Mr J S Sohal is a director and joint shareholder.

Amount due from the related party at the balance sheet date is £51,567 (2023 - £51,567).

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

SRK Group Limited
A company in which Mr L S Sohal is a director and joint shareholder.

Amount due to the related party at the balance sheet date is £204,655 (2023 - £104,655).

There were cost recharges with the company this year totalling £100,000 (2023: £100,000).

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

York Group Limited
A company in which Mr L S Sohal is a director and joint shareholder.

Amount due from the related party at the balance sheet date is £100,000 (2023 - £100,000).

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

AAA Commercial Limited
A company in which Mr L Sohal is a director and an indirect shareholder

Amount due from the related party at the balance sheet date is £33,000 (2023 - £33,000).

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

WFF (York) Limited
A company in which Mr L S Sohal is a director and joint shareholder.

Amount due from the related party at the balance sheet date is £250,000 (2023 - £250,000).

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

Hawkins Development Projects Limited
A company in which L S Sohal is a director and ACCA Group Ltd is a shareholder.

Amount due from the related party at the balance sheet date is £500,000 (2023 - £500,000).

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

L&R Land Limited
A company in which Mr L S Sohal is a director and joint shareholder.

Amount due from the related party at the balance sheet date is £200,000 (2023 - Nil).

This loan is unsecured, there is no interest payable and there are no agreed repayment terms.

ACCA LAND LIMITED (REGISTERED NUMBER: 06502543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

13. ULTIMATE CONTROLLING PARTY

Parent Company
ACCA Group Limited is regarded by the directors as being the ultimate parent company.

Ultimate Controlling Party
J Sohal and L Sohal jointly control the parent company.

ACCA Group Limited prepares group consolidated financial statements and they can be obtained from the following address:

71 Knowl Piece
Wilbury Way
Hitchin
SG4 0TY