LABORDA ESTATES LIMITED
Registered number: 06025126
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 153,695 156,403
Investments 4 34,223 34,223
187,918 190,626
Current assets
Cash at bank and in hand 166,020 144,415
Creditors: amounts falling due within one year 5 (9,360) (7,917)
Net current assets 156,660 136,498
Net assets 344,578 327,124
Capital and reserves
Called up share capital 100 100
Profit and loss account 344,478 327,024
Shareholders' funds 344,578 327,124
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.
SIMON WIGZELL
Director
Approved by the board on 29 January 2025
LABORDA ESTATES LIMITED
Notes to the Accounts
for the year ended 31 December 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.
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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Office and other equipment 25% reducing balance
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.
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 Tangible fixed assets
Land and buildings Equipment Total
£ £ £
Cost
At 1 January 2024 145,000 30,052 175,052
Additions - 191 191
At 31 December 2024 145,000 30,243 175,243
Depreciation
At 1 January 2024 - 18,649 18,649
Charge for the year - 2,899 2,899
At 31 December 2024 - 21,548 21,548
Net book value
At 31 December 2024 145,000 8,695 153,695
At 31 December 2023 145,000 11,403 156,403
4 Investments
Other
investments
£
Cost
At 1 January 2024 34,223
At 31 December 2024 34,223
5 Creditors: amounts falling due within one year 2024 2023
£ £
Accruals 1,200 1,200
Corporation tax 4,633 2,913
Directors loan account 1,380 1,428
Other creditors 2,147 2,376
9,360 7,917
6 Controlling party
Simon and Emma Wigzell are the ultimate controlling parties by virtue of each holding 50% of the company's issued share capital.
7 Other information
LABORDA ESTATES LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Crouch Lane Farm
Crouch Lane
Winkfield, Windsor
Berkshire
SL4 4RZ
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