2023-09-012024-08-312024-08-31false10899422Conquest Land & Property 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Conquest Land & Property Limited

Registered Number
10899422
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

Conquest Land & Property Limited
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

Raymond J Norman

Registered Address

16 Greyhound Lane
Stourbridge
DY8 3AA

Registered Number

10899422 (England and Wales)
Conquest Land & Property Limited
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets37194
Investment property4335,000255,000
335,071255,094
Current assets
Cash at bank and on hand40,98727,367
40,98727,367
Creditors amounts falling due within one year6(12,520)(10,778)
Net current assets (liabilities)28,46716,589
Total assets less current liabilities363,538271,683
Creditors amounts falling due after one year7(143,198)(143,197)
Net assets220,340128,486
Capital and reserves
Called up share capital66
Revaluation reserve193,772113,772
Profit and loss account26,56214,708
Shareholders' funds220,340128,486
The financial statements were approved and authorised for issue by the Director on 23 May 2025, and are signed on its behalf by:
Raymond J Norman
Director
Registered Company No. 10899422
Conquest Land & Property Limited
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
The financial statements have been prepared on a going concern basis, with the Director having committed his financial support for the foreseeable future.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment25
Investment property
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the Director. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Fixtures & fittings

Total

££
Cost or valuation
At 01 September 23530530
At 31 August 24530530
Depreciation and impairment
At 01 September 23436436
Charge for year2323
At 31 August 24459459
Net book value
At 31 August 247171
At 31 August 239494
4.Investment property
The Director has used his experience in the sector and carried out a review of similar properties in the area in determining his opinion that this constitutes a fair value of the investment property. There has been no valuation of investment property by an independent valuer.

£
Fair value at 01 September 23255,000
Fair value adjustments80,000
At 31 August 24335,000
5.Debtors: amounts due within one year
6.Creditors: amounts due within one year

2024

2023

££
Amounts owed to related parties8,9438,170
Taxation and social security2,9362,008
Accrued liabilities and deferred income641600
Total12,52010,778
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Creditors: amounts due after one year

2024

2023

££
Amounts owed to related parties143,198143,197
Total143,198143,197
8.Related party transactions
The Company owes the Director £152,141 (2023: £151,368) at the period end, the majority of which is shown as due after more than one year. These loans are interest free, unsecured and repayable on demand, but only when the cash reserves are available within the Company to fund such repayment.