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Registration number: 03422043

Ledbury Property Company Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Ledbury Property Company Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Ledbury Property Company Ltd

Company Information

Directors

J Silcock

P Scull

R Weller

Company secretary

L Badham

Registered office

Wyeview
Breinton Common
Hereford
Herefordshire
HR4 7PP

Accountants

R M Willgoose
Chartered Accountant
Chestnut End
Leddington
Ledbury
Herefordshire
HR8 2LG

 

Ledbury Property Company Ltd

(Registration number: 03422043)
Balance Sheet as at 31 December 2024

Note

31 December
2024
£

31 December
2023
£

Fixed assets

 

Tangible assets

4

500

500

Current assets

 

Debtors

5

-

530

Cash at bank and in hand

 

41,492

70,650

 

41,492

71,180

Creditors: Amounts falling due within one year

6

(1,566)

(17,129)

Net current assets

 

39,926

54,051

Net assets

 

40,426

54,551

Capital and reserves

 

Called up share capital

7

17

17

Retained earnings

40,409

54,534

Shareholders' funds

 

40,426

54,551

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 February 2025 and signed on its behalf by:
 

.........................................
J Silcock
Director

 

Ledbury Property Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wyeview
Breinton Common
Hereford
Herefordshire
HR4 7PP

The principal place of business is:
10 Ledbury Park
Ledbury
Herefordshire
HR8 1LF

These financial statements were authorised for issue by the Board on 26 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

 

Ledbury Property Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land and buildings

0% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from residents for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 4).

 

Ledbury Property Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 January 2024

500

500

At 31 December 2024

500

500

Depreciation

Carrying amount

At 31 December 2024

500

500

At 31 December 2023

500

500

Included within the net book value of land and buildings above is £500 (2023 - £500) in respect of freehold land and buildings.
 

 

Ledbury Property Company Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Debtors

31 December
2024
£

31 December
2023
£

Prepayments

-

530

-

530

6

Creditors

Creditors: amounts falling due within one year

31 December
2024
£

31 December
2023
£

Due within one year

Accruals and deferred income

1,086

17,129

Other creditors

480

-

1,566

17,129

7

Share capital

Allotted, called up and fully paid shares

31 December
2024

31 December
2023

No.

£

No.

£

Ordinary shares of £1 each

17

17

17

17

       

8

Related party transactions

Summary of transactions with entities with joint control or significant interest

The directors of the company all pay service charges to the company in their capacity as leaseholders.