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REGISTERED NUMBER: 01051677 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Latchmere Properties Limited

Latchmere Properties Limited (Registered number: 01051677)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Latchmere Properties Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: S R Eshelby
M S Eshelby
K L Eshelby





REGISTERED OFFICE: Latchmere House
64 South Street
Dorking
Surrey
RH4 2HD





REGISTERED NUMBER: 01051677 (England and Wales)





ACCOUNTANTS: Verinder Powell Associates Ltd
Suite 5 Corum 2
Corum Office Park
Crown Way
Warmley
Bristol
BS30 8FJ

Latchmere Properties Limited (Registered number: 01051677)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 13,130 16,482
Investments 5 500,001 500,001
513,131 516,483

CURRENT ASSETS
Stocks 592,985 1,463,335
Debtors 6 779,312 813,068
Cash at bank 72,421 64,157
1,444,718 2,340,560
CREDITORS
Amounts falling due within one year 7 310,312 752,284
NET CURRENT ASSETS 1,134,406 1,588,276
TOTAL ASSETS LESS CURRENT LIABILITIES 1,647,537 2,104,759

CREDITORS
Amounts falling due after more than one
year

8

-

500,062
NET ASSETS 1,647,537 1,604,697

CAPITAL AND RESERVES
Called up share capital 316,100 316,100
Share premium 200,617 200,617
Retained earnings 1,130,820 1,087,980
1,647,537 1,604,697

Latchmere Properties Limited (Registered number: 01051677)

Balance Sheet - continued
30 June 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2025 and were signed on its behalf by:





S R Eshelby - Director


Latchmere Properties Limited (Registered number: 01051677)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Latchmere Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There have been no material departures from the Financial Reporting Standard 102 1A.

Turnover
Turnover represents consultancy and management fees and income from sale of properties, net of value added tax.

Tangible fixed assets
Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings- 25% on reducing balance
Computer equipment - 25% on reducing balance

Latchmere Properties Limited (Registered number: 01051677)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investments in subsidiaries are measured at cost less accumulated impairment. Where merger relief is applicable, the cost of the investment in a subsidiary undertaking is measured at the nominal value of the shares issued together with the fair value of any additional consideration paid.

Investments in unlisted company shares, which have been classified as fixed asset investments as the Group intends to hold them on a continuing basis, are measured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Investments in listed shares, which have been classified as current asset investments, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Stocks
Where the outcome of a long term contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion. This is measured by the proportion that the contract costs incurred to date bear to the estimated total contract costs.

Where the outcome of a long term contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred that it is probable will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred.

When it is probable that the total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

Stock is valued at the lower of cost and net realisable value. Cost is the purchase cost on a first-in, first-out basis. Net realisable value is the selling price less any costs expected to be incurred to disposal.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

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 balance sheet date.


Latchmere Properties Limited (Registered number: 01051677)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

Latchmere Properties Limited (Registered number: 01051677)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 20,567 14,573 35,140
Additions - 819 819
At 30 June 2024 20,567 15,392 35,959
DEPRECIATION
At 1 July 2023 11,596 7,062 18,658
Charge for year 2,242 1,929 4,171
At 30 June 2024 13,838 8,991 22,829
NET BOOK VALUE
At 30 June 2024 6,729 6,401 13,130
At 30 June 2023 8,971 7,511 16,482

5. FIXED ASSET INVESTMENTS
Shares in
group Other
undertakings investments Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 500,000 1 500,001
NET BOOK VALUE
At 30 June 2024 500,000 1 500,001
At 30 June 2023 500,000 1 500,001

Latchmere Properties Limited (Registered number: 01051677)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors - 2,643
Amounts owed by group undertakings 641,762 666,861
Other debtors 137,550 143,564
779,312 813,068

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts - 736,417
Trade creditors 10,110 2,940
Taxation and social security 4,825 5,251
Other creditors 295,377 7,676
310,312 752,284

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.24 30.6.23
£    £   
Other creditors - 500,062

Included in bank loans in notes 7 and 8 is a combined balance of £0 (2023 - £10,167) which is guaranteed by the government and unsecured.

9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans - 726,250

The bank loans are secured by a debenture giving a fixed and floating charge over the assets and undertaking of the company, and a first legal charge over each of the properties owned by the company.

Latchmere Properties Limited (Registered number: 01051677)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

10. PENSION COMMITMENTS

The entity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the entity in an independently administered fund. Contributions totalling £514 (2023 - £589) were payable to the fund at the reporting date.

11. OFF BALANCE SHEET COMMITMENTS

At the year end the company had future minimum lease payments due under non-cancellable operating leases totalling £182,000 (2023 - £196,000).

12. RELATED PARTY DISCLOSURES

Loans to related parties



Group
undertakings

Other related
parties

Key
management


Total
2024 £ £ £ £
At start of period 666,681 - 14,677 681,538
Advanced 312,994 150 1,670 314,814
Repaid (338,243 - (12,302 ) (350,545 )
At end of period 641,612 150 4,045 645,807


Group
undertakings

Other related
parties

Key
management


Total
2023 £ £ £ £
At start of the period - 17,222 3,009 20,231
Advanced 666,861 - 11,980 678,841
Repaid - (17,222 ) (312 ) (17,534 )
At end of period 666,861 - 14,677 681,538

Loans to group undertakings are interest free and repayable on demand.

Loans to other related parties are interest free and repayable on demand.

Loans to key management are repayable on demand and interest is charged on loan balances owing to the company that exceed £10,000. Interest is charged at the HMRC prevailing rate.

Latchmere Properties Limited (Registered number: 01051677)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

12. RELATED PARTY DISCLOSURES - continued

Loans from related parties



Group
undertakings

Key
management


Total
2024 £ £ £
At start of period - 752 752
Advanced - 312 312
Repaid - (348 ) (348 )
At end of period - 716 716


Group
undertakings

Key
management


Total
2023 £ £ £
At start of the period 301,959 624 302,583
Advanced 260,532 23,704 284,236
Repaid (562,491 ) (23,576 ) (586,067 )
At end of period - 752 752

Loans from group undertakings are interest free and repayable on demand.

Loans from key management are interest free and repayable on demand.