REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 August 2024 |
for |
L.D.J. Property And Investment Company |
Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 August 2024 |
for |
L.D.J. Property And Investment Company |
Limited |
L.D.J. Property And Investment Company |
Limited (Registered number: 00843301) |
Contents of the Financial Statements |
for the Year Ended 31 August 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
L.D.J. Property And Investment Company |
Limited |
Company Information |
for the Year Ended 31 August 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Shadwell House |
65 Lower Green Road |
Tunbridge Wells |
Kent |
TN4 8TW |
L.D.J. Property And Investment Company |
Limited (Registered number: 00843301) |
Statement of Financial Position |
31 August 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Fair value reserve | 11 |
Retained earnings | 11 |
SHAREHOLDERS' FUNDS |
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. |
L.D.J. Property And Investment Company |
Limited (Registered number: 00843301) |
Statement of Financial Position - continued |
31 August 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
L.D.J. Property And Investment Company |
Limited (Registered number: 00843301) |
Notes to the Financial Statements |
for the Year Ended 31 August 2024 |
1. | STATUTORY INFORMATION |
L.D.J. Property And Investment Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
The property valuation of £1,535,000 represents a significant estimate and is based on a professional valuation in 2017. The directors consider that this is a fair reflection of the property value in the current economic climate. |
Turnover |
Revenue 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 |
Fixtures and fittings | - |
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. |
The property valuation of £1,640,000 is based on a professional valuation in 2023. The directors consider that this is a fair reflection of the property value in the current economic climate. |
No deferred tax is provided on the property revaluation in 2023 as if the property was sold for that amount, the value in March 1982 together with associated corporate tax indexation relief up to 31 December 2017 would not give rise to any corporate tax liability. |
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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
L.D.J. Property And Investment Company |
Limited (Registered number: 00843301) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Basic financial instruments such as debtors, bank and cash balances are stated at at fair value. |
Functional currency |
The functional currency used by the company is £ Sterling. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
and |
fittings |
£ |
COST |
At 1 September 2023 |
and 31 August 2024 |
DEPRECIATION |
At 1 September 2023 |
Charge for year |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 September 2023 |
and 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
The property valuation of £1,640,000 is based on a professional valuation in 2023. The directors consider that this is a fair reflection of the property value in the current economic climate. |
No deferred tax is provided on the property revaluation in 2023 as if the property was sold for that amount, the value at March 1982 together with associated corporate tax indexation relief up to 31 December 2017 would not give rise to any corporate tax liability. |
L.D.J. Property And Investment Company |
Limited (Registered number: 00843301) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
5. | INVESTMENT PROPERTY - continued |
Fair value at 31 August 2024 is represented by: |
£ |
Valuation in 2015 | 1,325,000 |
Valuation in 2017 | 210,000 |
Valuation in 2023 | 105,000 |
1,640,000 |
6. | DEBTORS |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Directors' current accounts | 46,146 | 19,525 |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Tax |
Directors' current accounts | 8,242 | 8,242 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans (see note 9) |
9. | LOANS |
An analysis of the maturity of loans is given below: |
2024 | 2023 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
Amounts falling due between two and five years: |
Bank loans |
L.D.J. Property And Investment Company |
Limited (Registered number: 00843301) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
9. | LOANS - continued |
Bank borrowings with Santander UK plc are secured by way of a fixed charge on the company's freehold investment property. |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 1 | 3,000 | 3,000 |
11. | RESERVES |
Fair |
Retained | value |
earnings | reserve | Totals |
£ | £ | £ |
At 1 September 2023 | 1,302,339 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 31 August 2024 | 1,319,816 |
The fair value reserve is the difference between the cost and valuation of £1,640,000 of the investment property. It was professionally valued in 2023, the directors consider that this is a fair reflection of the property value in the current economic climate. |
No deferred tax is provided on the property revaluation in 2023 as if the property was sold for that amount, the value at March 1982 together with associated indexation relief up to 31 December 2017 would not give rise to any corporate tax liability. |
12. | CONTROLLING PARTY |
The company is controlled by the directors who own all of the shares. |