Company No:
Contents
DIRECTORS | Mr A L Barton (Appointed 03 July 2023) |
Mr P J Dixon (Appointed 03 July 2023) | |
Mr L C Hollick (Appointed 03 July 2023) | |
Mr P D Rawle (Appointed 03 July 2023) |
REGISTERED OFFICE | 4 Elm Place Old Witney Road |
Eynsham | |
Witney | |
OX29 4BD | |
United Kingdom |
COMPANY NUMBER | 14974239 (England and Wales) |
ACCOUNTANT | Shaw Gibbs Limited |
264 Banbury Road | |
Oxford | |
OX2 7DY |
We align ourselves to, but due to our growth funding structure we are not controlled by ACCA members and are therefore not a fully recognised member of, the Association of Chartered Certified Accountants. However, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
It is your duty to ensure that Landra Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Landra Developments Limited. You consider that Landra Developments Limited is exempt from the statutory audit requirement for the financial period.
We have not been instructed to carry out an audit or a review of the financial statements of Landra Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Oxford
OX2 7DY
Note | 31.03.2024 | |
£ | ||
Fixed assets | ||
Tangible assets | 3 |
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39,111 | ||
Current assets | ||
Stocks | 4 |
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Debtors | 5 |
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Cash at bank and in hand |
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129,192 | ||
Creditors: amounts falling due within one year | 6, 10 | (
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Net current assets | 73,137 | |
Total assets less current liabilities | 112,248 | |
Creditors: amounts falling due after more than one year | 7 | (
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Net liabilities | (
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Capital and reserves | ||
Called-up share capital | 8 |
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Profit and loss account | (
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Total shareholders' deficit | (
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Landra Developments Limited (registered number:
Mr P D Rawle
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Landra Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 4 Elm Place Old Witney Road, Eynsham, Witney, OX29 4BD, United Kingdom.
The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £1.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. During the period, the Company relied on financial support and working capital from a related party. The directors are satisfied they will receive continued support from them for at least 12 months from the date of approval of these financial statements, such that the Company can meet its liabilities as they fall due. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The Company has changed its accounting reference date from 31 July to 31 March, to align with related parties. The financial statements cover the 9 month period from incorporation on 3 July 2023 to 31 March 2024.
Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
Leasehold improvements |
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Fixtures and fittings |
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Computer equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.
Period from 03.07.2023 to 31.03.2024 |
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Number | |
Monthly average number of persons employed by the Company during the period, including directors |
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Leasehold improve- ments |
Fixtures and fittings | Computer equipment | Total | ||||
£ | £ | £ | £ | ||||
Cost | |||||||
At 03 July 2023 |
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Additions |
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At 31 March 2024 |
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Accumulated depreciation | |||||||
At 03 July 2023 |
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Charge for the financial period |
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At 31 March 2024 |
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Net book value | |||||||
At 31 March 2024 |
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31.03.2024 | |
£ | |
Work in progress |
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31.03.2024 | |
£ | |
Prepayments |
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VAT recoverable |
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Other debtors |
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31.03.2024 | |
£ | |
Trade creditors |
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Accruals |
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Other taxation and social security |
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Other creditors |
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31.03.2024 | |
£ | |
Amounts owed to related parties |
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31.03.2024 | |
£ | |
Allotted, called-up and fully-paid | |
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Other related party transactions
During the period, the company received £330,000 from a company whose ultimate controlling party is a director of Landra Developments Ltd. This amount remained outstanding at the reporting date, and so is included in other creditors payable in more than one year. The balance is unsecured and interest free.
Included in other creditors is £264 owed to a director, and £223 owed to a shareholder. These amounts are unsecured and interest free with no fixed repayment terms.
31.03.2024 | |
£ | |
Total | 22,500 |
At the reporting end date, the company had the above outstanding commitments for future minimum lease payments under non-cancellable operating leases.