Registered number: 12972222
REIGATE LAND LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 OCTOBER 2024
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REIGATE LAND LIMITED
REGISTERED NUMBER: 12972222
STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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REIGATE LAND LIMITED
REGISTERED NUMBER: 12972222
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 April 2025.
The notes on pages 3 to 6 form part of these financial statements.
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REIGATE LAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
Reigate Land Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 30 Orange Street, London, WC2H 7HF.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the
Company and the revenue can be reliably measured. Revenue is measured as the fair value of the
consideration received or receivable.
Revenue comprises the sale proceeds on the sale of individual properties as property is developed.
Finance costs are charged to profit or loss over the term of the debt.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Stock represents the land on the West side of 4 Strawberry Close, Tunbridge Wells TN2 5PD and development costs. Interest costs relating to purchase of the property and development are added to stock.
Short-term debtors are measured at transaction price.
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REIGATE LAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
2.Accounting policies (continued)
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
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The average monthly number of employees, including directors, during the year was 3 (2023 - 3).
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LSM Homes Limited - Property Purchases
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REIGATE LAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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The loan from LendNet LLP attracted interest at 10% to 10.5% pa, Interest accrued over the period of the loan. The loan was repayed on 11 September 2024 following the sale of the final units.
The loan was secured by a first charge over the freehold land and buildings known as land on the west side of 4 Strawberry Close, Tunbridge Wells.
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Creditors: Amounts falling due after more than one year
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The loan from Lusson Limited will be repaid prior to the distribution of final profits.
The loan from Harry Shaw was repaid in full on 11 September 2024.
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REIGATE LAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
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Related party transactions
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During the year, the company paid certain costs on behalf of related companies LSM Homes Limited (LSM), LSM (TW) Ltd (LSMTW) and Westerham Homes Ltd (WHL) to fund costs and the purchase of properties by LSM. At the year end, the balance due from LSM was £826,751 (2023 - £2,936), LSMTW £2,640 (2023 - £Nil) and WHL £27,624 (2023 - £Nil).
During the year, the company received loans from a related company Whitgift Estates Limited (WEL) to fund costs. At the year end, the balance due to WEL was £16,111 (2023 - £7,587).
The loans are interest free.
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