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Registered number: 11357119
Ladkarn Developments Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
AVL Accounting Services Limited
1st & 2nd Floor, 2 West St
Ware
Hertfordshire
SG12 9EE
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Statement of Changes in Equity 4
Notes to the Financial Statements 5—6
Page 1
Accountants' Report
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 March 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. 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 financial statements.
Signed
26/03/2025
AVL Accounting Services Limited
1st & 2nd Floor, 2 West St
Ware
Hertfordshire
SG12 9EE
Page 1
Page 2
Balance Sheet
Registered number: 11357119
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 91 135
91 135
CURRENT ASSETS
Stocks 5 1,973,692 2,329,814
Debtors 6 466,330 529,663
Cash at bank and in hand 201 294
2,440,223 2,859,771
Creditors: Amounts Falling Due Within One Year 7 (2,432,308 ) (2,840,037 )
NET CURRENT ASSETS (LIABILITIES) 7,915 19,734
TOTAL ASSETS LESS CURRENT LIABILITIES 8,006 19,869
Creditors: Amounts Falling Due After More Than One Year 8 (20,884 ) (21,767 )
NET LIABILITIES (12,878 ) (1,898 )
CAPITAL AND RESERVES
Called up share capital 9 30 30
Profit and Loss Account (12,908 ) (1,928 )
SHAREHOLDERS' FUNDS (12,878) (1,898)
Page 2
Page 3
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Eamon Bourke
Director
Mrs Teresa Walker
Director
Mr James Bourke
Director
26/03/2025
The notes on pages 5 to 6 form part of these financial statements.
Page 3
Page 4
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 1 April 2022 - (3,108 ) (3,108)
Profit for the year and total comprehensive income - 1,180 1,180
Arising on shares issued during the period 30 - 30
As at 31 March 2023 and 1 April 2023 30 (1,928 ) (1,898)
Loss for the year and total comprehensive income - (10,980 ) (10,980)
Arising on shares issued during the period 30 - 30
As at 31 March 2024 30 (12,908 ) (12,878)
Page 4
Page 5
Notes to the Financial Statements
1. General Information
Ladkarn Developments Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11357119 . The registered office is Elbow Lane Farm, Elbow Lane, Hertford Heath, SG13 7QA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Computer Equipment 33% reducing balance
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Computer Equipment
£
Cost
As at 1 April 2023 537
As at 31 March 2024 537
Depreciation
As at 1 April 2023 402
Provided during the period 44
As at 31 March 2024 446
...CONTINUED
Page 5
Page 6
Net Book Value
As at 31 March 2024 91
As at 1 April 2023 135
5. Stocks
2024 2023
£ £
Stock 1,973,692 2,329,814
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 100,607 100,607
Prepayments and accrued income 364,333 348,165
VAT 1,390 1,891
Amounts owed by associates - 79,000
466,330 529,663
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 29,822 384,858
Bank loans and overdrafts 5,000 10,000
Other creditors 2,288,182 2,249,722
Accruals and deferred income 1,350 1,250
Directors' loan accounts 137 140
Amounts owed to associates 107,817 194,067
2,432,308 2,840,037
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 20,884 21,767
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 30 30
Page 6