REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
LDSD LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
FOR |
LDSD LIMITED |
LDSD LIMITED (REGISTERED NUMBER: 09353799) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
LDSD LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
15 West Street |
Brighton |
East Sussex |
BN1 2RL |
LDSD LIMITED (REGISTERED NUMBER: 09353799) |
BALANCE SHEET |
31 DECEMBER 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
The director acknowledges his 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. |
LDSD LIMITED (REGISTERED NUMBER: 09353799) |
BALANCE SHEET - continued |
31 DECEMBER 2024 |
The financial statements were approved by the director and authorised for issue on |
LDSD LIMITED (REGISTERED NUMBER: 09353799) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared on the basis that the company will continue to be a going concern. If this assumption is not considered valid, then adjustments would need to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that might arise and to reclassify fixed assets and long term liabilities as current assets and liabilities. |
Turnover |
Turnover represents sales of services net of VAT. Turnover is recognised at the point the customer is entitled to consideration. |
Tangible fixed assets |
Improvements to property | - |
Fixtures and fittings | - |
Computer equipment | - |
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. |
Deferred tax |
Deferred taxation is provided in full on timing differences which represent a liability at the balance sheet date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in financial statements. Deferred tax assets and liabilities are not discounted. |
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. |
2. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
LDSD LIMITED (REGISTERED NUMBER: 09353799) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
3. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2024 |
Additions |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
4. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 January 2024 |
and 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Amounts owed by associates |
Other debtors |
Directors' loan accounts | 139,549 | - |
Accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to associates | 672,659 | 406,797 |
Tax |
Social security and other taxes |
VAT | 216,287 | 250,161 |
Directors' loan accounts | - | 480,377 |
Accrued expenses |
LDSD LIMITED (REGISTERED NUMBER: 09353799) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
8. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
This balance represented the maximum amount outstanding during the year. Interest is charged on any overdrawn amounts at the beneficial loan interest rate. |
LDSD LIMITED (REGISTERED NUMBER: 09353799) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
9. | RELATED PARTY DISCLOSURES |
Rockwater Group Limited |
As at the year end, the company owed Rockwater Group Limited £285,453 (2023: £152,203). The balance is interest free and repayable on demand. |
During the year, the company received income of £125,000 (2023: £125,000) from Rockwater Group Limited. All transactions were undertaken on a commercial arms length basis. |
L Davis has a 49% shareholding and is a director in Rockwater Group Limited. |
Rockwater Sandbanks & Branksome Limited |
As at the year end, the company owed Rockwater Sandbanks & Branksome Limited £357,950 (2023: £207,850). The balance is interest free and repayable on demand. |
During the year, the company received income of £125,000 (2023: £121,333) from Rockwater Sandbanks & Branksome Limited. All transactions were undertaken on a commercial arms length basis. |
L Davis has a 46% shareholding and is a director in Rockwater Sandbanks & Branksome Limited. |
Wavecatchers Ltd |
As at the year end, the company owed Wavecatchers Ltd £29,256 (2023: £28,456). The balance is interest free and repayable on demand. |
During the year, the company received income of £8,000 (2023: £12,000) from Wavecatchers Ltd. All transactions were undertaken on a commercial arms length basis. |
L Davis has a 54% shareholding and is a director in Wavecatchers Limited. |
Helm Gallery Limited |
As at the year end, Helm Gallery Limited owed the company £820,594 (2023: £861,498). The balance is interest free and repayable on demand. |
L Davis has a 70% shareholding and is a director in Helm Gallery Limited. |
LMD Chauffeurs Limited |
As at the year end, LMD Chauffeurs Limited owed the company £nil (2023: £377,613). The balance was cleared as a bad debt as LMD Chauffeurs Limited has been struck off. |
L Davis is the sole shareholder and director in LMD Chauffeurs Limited. |
IW Capital Ltd |
As at the year end, IW Capital Ltd owed the company £nil (2023: £49,242). The balance was cleared to the directors' loan account as dealt with in the share sale. |
L Davis has a 34% shareholding and was a director of IW Capital Ltd during the year. |
IW Inventa Limited |
As at the year end, the company owed IW Inventa Limited £nil (2023: 18,288). The balance was cleared to the directors' loan account as dealt with in the share sale. |
L Davis was a director of IW Inventa Ltd during the year. |
42 Bruton Limited |
As at the year end, 42 Bruton Limited owed the company £nil (2023: £700). The balance was cleared to the directors' loan account as dealt with in the share sale. |
L Davis was a director of 42 Bruton Limited during the year. |
10. | ULTIMATE CONTROLLING PARTY |
The controlling party is L S Davis. |
This was by virtue of his 100% holding of the issued share capital. |
LDSD LIMITED (REGISTERED NUMBER: 09353799) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2024 |
11. | ACCOUNTING BASIS |
As stated in the accounting policy note, these financial statements have been prepared on the basis that the company will continue to be a going concern. As at the year end the current liabilities exceeded current assets by £311,752. |
The validity of this basis depends upon the continued support of the company's director. The director confirms that he will give the required support. |