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Registered number: 09620322
LeoFrance Developments Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
Hudson LM Limited
Castle Court
Castle Street
Whittington, Oswestry
Shropshire
SY11 4DF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 09620322
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 895,457 1,243,680
895,457 1,243,680
CURRENT ASSETS
Debtors 5 16,563 12,991
Cash at bank and in hand 76,416 64,093
92,979 77,084
Creditors: Amounts Falling Due Within One Year 6 (355,288 ) (385,850 )
NET CURRENT ASSETS (LIABILITIES) (262,309 ) (308,766 )
TOTAL ASSETS LESS CURRENT LIABILITIES 633,148 934,914
PROVISIONS FOR LIABILITIES
Deferred Taxation (8,637 ) (11,451 )
NET ASSETS 624,511 923,463
CAPITAL AND RESERVES
Called up share capital 7 2 2
Profit and Loss Account 624,509 923,461
SHAREHOLDERS' FUNDS 624,511 923,463
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Page 2
For the year ending 30 June 2024 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Philip Jones
Director
16 December 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
LeoFrance Developments Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 09620322 . The registered office is Brookfield Farm, Whittington, Oswestry, Shropshire, SY11 4NE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% Reducing balance basis
Fixtures & Fittings 15% Reducing balance basis
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
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4. Tangible Assets
Investment Properties Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost or Valuation
As at 1 July 2023 1,200,001 57,463 2,000 1,259,464
Additions - 9,800 - 9,800
As at 30 June 2024 1,200,001 67,263 2,000 1,269,264
Depreciation
As at 1 July 2023 - 14,425 1,359 15,784
Provided during the period - 7,926 96 8,022
Impairment losses 350,001 - - 350,001
As at 30 June 2024 350,001 22,351 1,455 373,807
Net Book Value
As at 30 June 2024 850,000 44,912 545 895,457
As at 1 July 2023 1,200,001 43,038 641 1,243,680
Cost or valuation as at 30 June 2024 represented by:
Investment Properties Plant & Machinery Fixtures & Fittings Total
£ £ £ £
At cost 1,200,001 67,263 2,000 1,269,264
1,200,001 67,263 2,000 1,269,264
The fair value of the investment property has been arrived at on the basis of a valuation carried out at the year end by Mr P E Jones. The valuation was made on an open market basis by reference to market evidence of transaction prices for similar properties.
The value of the investment property in the year has been impaired by £350,001 from £1,200,001 to £850,000.
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 13,562 9,984
Prepayments and accrued income 3,001 2,485
Other Debtors (Vat) - 522
16,563 12,991
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6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 2,372 2,795
Corporation tax 12,818 22,756
VAT 6,342 -
Amounts due to related party 12,724 18,531
Accruals and deferred income 1,992 1,907
Directors' loan accounts 319,040 339,861
355,288 385,850
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2 2
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