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REGISTERED NUMBER: 10551712 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

LS ESTATES DEVELOPMENT LIMITED

LS ESTATES DEVELOPMENT LIMITED (REGISTERED NUMBER: 10551712)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LS ESTATES DEVELOPMENT LIMITED

COMPANY INFORMATION
for the Year Ended 30 June 2024







DIRECTOR: M J Swetman





SECRETARY:





REGISTERED OFFICE: 36a Station Road
New Milton
Hampshire
BH25 6JX





REGISTERED NUMBER: 10551712 (England and Wales)





ACCOUNTANTS: David Shores & Co Ltd
36a Station Road
New Milton
Hampshire
BH25 6JX

LS ESTATES DEVELOPMENT LIMITED (REGISTERED NUMBER: 10551712)

BALANCE SHEET
30 June 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 1,003 2,185

CURRENT ASSETS
Debtors 5 364,655 843,959
Cash at bank 281,193 216,635
645,848 1,060,594
CREDITORS
Amounts falling due within one year 6 807,751 912,478
NET CURRENT (LIABILITIES)/ASSETS (161,903 ) 148,116
TOTAL ASSETS LESS CURRENT
LIABILITIES

(160,900

)

150,301

PROVISIONS FOR LIABILITIES 251 -
NET (LIABILITIES)/ASSETS (161,151 ) 150,301

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings (171,151 ) 140,301
SHAREHOLDERS' FUNDS (161,151 ) 150,301

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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.

LS ESTATES DEVELOPMENT LIMITED (REGISTERED NUMBER: 10551712)

BALANCE SHEET - continued
30 June 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 April 2025 and were signed by:





M J Swetman - Director


LS ESTATES DEVELOPMENT LIMITED (REGISTERED NUMBER: 10551712)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

LS Estates Development Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis, despite the excess of liabilities over assets, due to the ongoing support of the parent company.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office & computer equipment - 3 years straight line

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities and include trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

Financial assets are measured at cost and amortized cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognized in the income statement.

Basic financial liabilities are initially measured at transaction price and subsequently measured at amortized cost, being the transaction price less any amounts settled

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


LS ESTATES DEVELOPMENT LIMITED (REGISTERED NUMBER: 10551712)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Employment benefits
The costs of short-term employee benefits are recognized as a liability and an expense, unless those costs are required to be recognized as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognized in the period in which the employee's services are received.

Termination benefits are recognized immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognized when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 3 ) .

LS ESTATES DEVELOPMENT LIMITED (REGISTERED NUMBER: 10551712)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023
and 30 June 2024 3,545
DEPRECIATION
At 1 July 2023 1,360
Charge for year 1,182
At 30 June 2024 2,542
NET BOOK VALUE
At 30 June 2024 1,003
At 30 June 2023 2,185

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 90,083 288,351
Amounts owed by group undertakings 152,845 124,115
Other debtors 121,727 431,493
364,655 843,959

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 50,182 50,243
Amounts owed to group undertakings 14,399 14,285
Taxation and social security 39,594 16,707
Other creditors 703,576 831,243
807,751 912,478

7. OTHER FINANCIAL COMMITMENTS

The company is a member of a VAT group including LS Estates Limited, LS Debt Capital Markets Limited, LS Estates Capital Limited, and LS Estates Asset Management Limited. The total liability for the VAT group was £68,968 (2023 - £10,872) as at the balance sheet date.