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Company No: 10837560 (England and Wales)

LOXWOOD PROPERTIES LTD

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

LOXWOOD PROPERTIES LTD

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

LOXWOOD PROPERTIES LTD

BALANCE SHEET

As at 30 June 2024
LOXWOOD PROPERTIES LTD

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 755,633 755,846
Investments 4 2 2
755,635 755,848
Current assets
Stocks 5 1,063,960 1,018,063
Debtors 6 0 7,473
Cash at bank and in hand 2,425 16,126
1,066,385 1,041,662
Creditors: amounts falling due within one year 7 ( 509,027) ( 493,022)
Net current assets 557,358 548,640
Total assets less current liabilities 1,312,993 1,304,488
Net assets 1,312,993 1,304,488
Capital and reserves
Called-up share capital 104 104
Profit and loss account 1,312,889 1,304,384
Total shareholders' funds 1,312,993 1,304,488

For the financial year ending 30 June 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 Loxwood Properties Ltd (registered number: 10837560) were approved and authorised for issue by the Board of Directors on 21 March 2025. They were signed on its behalf by:

J A Elms
Director
LOXWOOD PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
LOXWOOD PROPERTIES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

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

General information and basis of accounting

Loxwood Properties Ltd (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 Oaktree, Emery Down, Lyndhurst, SO43 7EB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, 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 £.

Turnover

Turnover represents rental income excluding value added tax. Rental income is accounted for in the period in which it relates.

Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, 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 or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings not depreciated
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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 is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

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 receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

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 that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Office equipment Total
£ £ £
Cost
At 01 July 2023 754,998 2,103 757,101
At 30 June 2024 754,998 2,103 757,101
Accumulated depreciation
At 01 July 2023 0 1,255 1,255
Charge for the financial year 0 213 213
At 30 June 2024 0 1,468 1,468
Net book value
At 30 June 2024 754,998 635 755,633
At 30 June 2023 754,998 848 755,846

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 July 2023 2
At 30 June 2024 2
Carrying value at 30 June 2024 2
Carrying value at 30 June 2023 2

Details of undertakings:

Details of he investments (including principal place of the business of incorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
30.06.2024
Ownership
30.06.2023
Stanpit Developments Ltd 1 The Boltons, 9 Durley Chine Road South, Bournemouth, Dorset, BH2 5JT Construction of domestic buildings Ordinary 33.33% 33.33%

5. Stocks

2024 2023
£ £
Work in progress (secured) 1,063,960 1,018,063

6. Debtors

2024 2023
£ £
Other debtors 0 7,473

7. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 2,045 1,034
Other creditors 506,982 491,988
509,027 493,022