Registered number
12549408
LDC Property Services Ltd
Filleted Accounts
30 April 2024
LDC Property Services Ltd
Registered number: 12549408
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Investment property 3 549,000 500,000
Current assets
Debtors 4 101,178 379
Cash at bank and in hand 42,337 117,134
143,515 117,513
Creditors: amounts falling due within one year 5 (424,479) (295,466)
Net current liabilities (280,964) (177,953)
Total assets less current liabilities 268,036 322,047
Creditors: amounts falling due after more than one year 6 (209,082) (210,928)
Provisions for liabilities (9,363) (22,404)
Net assets 49,591 88,715
Capital and reserves
Called up share capital 100 100
Fair value reserve 8 103,962 67,212
Profit and loss account (54,471) 21,403
Shareholders' funds 49,591 88,715
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Steve Courtney
Director
Approved by the board on 26 January 2025
LDC Property Services Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Investment property 2024 2023
£ £
Brought forward 500,000 762,640
Fair value adjustment 49,000 (8,000)
Disposal - (254,640)
549,000 500,000
4 Debtors 2024 2023
£ £
Other debtors 101,178 379
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors - 112
Taxation and social security costs - 5,032
Other creditors 424,479 290,322
424,479 295,466
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 209,082 210,928
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 209,082 210,928
Secured bank loans 209,082 210,929
Bank loans are secured against the investment property.
8 Fair value reserve 2024 2023
£ £
At 1 May 2023 67,212 56,010
Fair value adjustment of investment property 49,000 -
Deferred taxation arising on the fair value adjustment (12,250) 11,202
At 30 April 2024 103,962 67,212
9 Related party transactions
Loan from Related Party
The company has an interest-free loan of £364,496 (2023: £230,275) from S Courtney Contractors Limited. The loan is unsecured, interest-free, and repayable on demand. This loan is included within short-term creditors. The related party is under common ownership.This transaction has been undertaken in the normal course of business and reflects standard terms agreed between the entities.

Works carried out by Related Party
During the year, S Courtney Contractors Limited undertook work on the company’s investment property, for which they charged £62,555. This transaction was carried out on standard commercial terms.

Related Party Disclosures
In accordance with FRS 102 Section 1A, the directors confirm that there are no other material transactions with related parties requiring disclosure.
10 Other information
LDC Property Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
SHMS House
20 Little Park Farm Road
Fareham
Hampshire
PO15 5TD
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