Company Registration No. 03758649 (England and Wales)
LEIGHTON-BOYCE PROPERTIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
LEIGHTON-BOYCE PROPERTIES LTD
COMPANY INFORMATION
Directors
Mr O S Leighton-Boyce
Mrs S R Leighton-Boyce
Secretary
Mr O S Leighton-Boyce
Company number
03758649
Registered office
21 Bampton Street
Tiverton
Devon
EX16 6AA
Accountants
Apsleys Chartered Accountants
21 Bampton Street
Tiverton
Devon
EX16 6AA
LEIGHTON-BOYCE PROPERTIES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
LEIGHTON-BOYCE PROPERTIES LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,624
1,911
Investment properties
4
9,604,875
9,385,540
Other investments
5
645,000
420,644
10,251,499
9,808,095
Current assets
Debtors
6
3,001
828,922
Cash at bank and in hand
990,457
310,076
993,458
1,138,998
Creditors: amounts falling due within one year
7
(305,401)
(458,963)
Net current assets
688,057
680,035
Total assets less current liabilities
10,939,556
10,488,130
Provisions for liabilities
(2,206,000)
(1,610,000)
Net assets
8,733,556
8,878,130
Capital and reserves
Called up share capital
8
1,000
1,000
Non distributable reserve
9
6,828,477
7,072,162
Profit and loss reserves
1,904,079
1,804,968
Total equity
8,733,556
8,878,130

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.

LEIGHTON-BOYCE PROPERTIES LTD
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 5 March 2025 and are signed on its behalf by:
Mr O S Leighton-Boyce
Director
Company Registration No. 03758649
LEIGHTON-BOYCE PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

Leighton-Boyce Properties Ltd is a private company limited by shares incorporated in England and Wales within the United Kingdom.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2
Turnover

Turnover represents rents receivable for the year. Revenue is recognised evenly over the rental period.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% reducing balance

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.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

 

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.6
Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

LEIGHTON-BOYCE PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 0 (2023 - 0).

3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 January 2024 and 31 December 2024
8,090
Depreciation and impairment
At 1 January 2024
6,179
Depreciation charged in the year
287
At 31 December 2024
6,466
Carrying amount
At 31 December 2024
1,624
At 31 December 2023
1,911
4
Investment property
2024
£
Fair value
At 1 January 2024
9,385,541
Revaluations
219,334
At 31 December 2024
9,604,875

The fair value of the investment properties has been arrived at on the basis of informal valuations carried out by the directors of the company. The valuations were made on an open market value basis by reference to rental yield, market evidence of transaction prices for similar properties and detailed planning permission.

LEIGHTON-BOYCE PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
4
Investment property
(Continued)
- 5 -
5
Fixed asset investments
2024
2023
£
£
Vintage Tractors
645,000
420,644
Movements in fixed asset investments
Vintage Tractors
£
Cost or valuation
At 1 January 2024
420,644
Additions
91,375
Valuation changes
132,981
At 31 December 2024
645,000
Carrying amount
At 31 December 2024
645,000
At 31 December 2023
420,644
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
-
0
825,600
Prepayments and accrued income
3,001
3,322
3,001
828,922
7
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
60,249
239,679
Other creditors
11,686
18,099
Accruals and deferred income
233,466
201,185
305,401
458,963
LEIGHTON-BOYCE PROPERTIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
800 A Ordinary of £1 each
800
800
100 B Ordinary of £1 each
100
100
100 C Ordinary of £1 each
100
100
1,000
1,000
9
Non distributable reserve
2024
2023
£
£
At beginning of year
7,072,162
4,110,122
Fair value adjustment to investments
(243,685)
2,962,040
At end of year
6,828,477
7,072,162
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