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Company No: 14974239 (England and Wales)

LANDRA DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL PERIOD FROM 03 JULY 2023 TO 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

LANDRA DEVELOPMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 03 JULY 2023 TO 31 MARCH 2024

Contents

LANDRA DEVELOPMENTS LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL PERIOD FROM 03 JULY 2023 TO 31 MARCH 2024
LANDRA DEVELOPMENTS LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL PERIOD FROM 03 JULY 2023 TO 31 MARCH 2024
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

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LANDRA DEVELOPMENTS LIMITED

FOR THE FINANCIAL PERIOD FROM 03 JULY 2023 TO 31 MARCH 2024

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LANDRA DEVELOPMENTS LIMITED (continued)

FOR THE FINANCIAL PERIOD FROM 03 JULY 2023 TO 31 MARCH 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Landra Developments Limited for the financial period ended 31 March 2024 which comprise the Balance Sheet and the related notes 1 to 10 from the Company’s accounting records and from information and explanations you have given us.

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.

This report is made solely to the Board of Directors of Landra Developments Limited, as a body, in accordance with the terms of our engagement letter dated 26 July 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Landra Developments Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Landra Developments Limited and its Board of Directors as a body for our work or for this report.

Shaw Gibbs Limited

264 Banbury Road
Oxford
OX2 7DY

28 February 2025

LANDRA DEVELOPMENTS LIMITED

BALANCE SHEET

AS AT 31 MARCH 2024
LANDRA DEVELOPMENTS LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 31.03.2024
£
Fixed assets
Tangible assets 3 39,111
39,111
Current assets
Stocks 4 110,301
Debtors 5 12,014
Cash at bank and in hand 6,877
129,192
Creditors: amounts falling due within one year 6, 10 ( 56,055)
Net current assets 73,137
Total assets less current liabilities 112,248
Creditors: amounts falling due after more than one year 7 ( 330,000)
Net liabilities ( 217,752)
Capital and reserves
Called-up share capital 8 100
Profit and loss account ( 217,852 )
Total shareholders' deficit ( 217,752)

For the financial period ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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: 14974239) were approved and authorised for issue by the Board of Directors on 28 February 2025. They were signed on its behalf by:

Mr P D Rawle
Director
LANDRA DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 03 JULY 2023 TO 31 MARCH 2024
LANDRA DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL PERIOD FROM 03 JULY 2023 TO 31 MARCH 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

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.

Going concern

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.

Reporting period length

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.

Employee benefits

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.

Tangible fixed assets

Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements 3 years straight line
Fixtures and fittings 4 years straight line
Computer equipment 4 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.

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.

Impairment of assets

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Financial instruments

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.

2. Employees

Period from
03.07.2023 to
31.03.2024
Number
Monthly average number of persons employed by the Company during the period, including directors 2

3. Tangible assets

Leasehold improve-
ments
Fixtures and fittings Computer equipment Total
£ £ £ £
Cost
At 03 July 2023 0 0 0 0
Additions 29,646 5,822 11,936 47,404
At 31 March 2024 29,646 5,822 11,936 47,404
Accumulated depreciation
At 03 July 2023 0 0 0 0
Charge for the financial period 5,966 848 1,479 8,293
At 31 March 2024 5,966 848 1,479 8,293
Net book value
At 31 March 2024 23,680 4,974 10,457 39,111

4. Stocks

31.03.2024
£
Work in progress 110,301

5. Debtors

31.03.2024
£
Prepayments 3,900
VAT recoverable 8,014
Other debtors 100
12,014

6. Creditors: amounts falling due within one year

31.03.2024
£
Trade creditors 37,298
Accruals 6,840
Other taxation and social security 9,400
Other creditors 2,517
56,055

7. Creditors: amounts falling due after more than one year

31.03.2024
£
Amounts owed to related parties 330,000

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

31.03.2024
£
Allotted, called-up and fully-paid
100 ordinary shares of £ 1.00 each 100

9. Related party transactions

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.

10. Operating lease commitments

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.