| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2024 |
| FOR |
| LEAMINGTON AND LULWORTH ESTATES LIMITED |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2024 |
| FOR |
| LEAMINGTON AND LULWORTH ESTATES LIMITED |
| LEAMINGTON AND LULWORTH ESTATES LIMITED (REGISTERED NUMBER: 00677545) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the Year Ended 31 MARCH 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| LEAMINGTON AND LULWORTH ESTATES LIMITED |
| COMPANY INFORMATION |
| for the Year Ended 31 MARCH 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| The Paddocks |
| Ashburnham Drive |
| Walters Ash |
| Buckinghamshire |
| HP14 4UD |
| LEAMINGTON AND LULWORTH ESTATES LIMITED (REGISTERED NUMBER: 00677545) |
| BALANCE SHEET |
| 31 MARCH 2024 |
| 31.3.24 | 31.3.23 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their 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. |
| LEAMINGTON AND LULWORTH ESTATES LIMITED (REGISTERED NUMBER: 00677545) |
| BALANCE SHEET - continued |
| 31 MARCH 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| LEAMINGTON AND LULWORTH ESTATES LIMITED (REGISTERED NUMBER: 00677545) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the Year Ended 31 MARCH 2024 |
| 1. | STATUTORY INFORMATION |
| Leamington and Lulworth Estates Limited is a |
| 2. | ACCOUNTING POLICIES |
| Summary of significant accounting polices and key accounting estimates |
| The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. |
| Statement of compliance |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. |
| Basis of preparation |
| The financial statements have been prepared under the historical cost convention.except that as disclosed in the accounting policies certain items are shown at fair value. |
| Revenue recognition |
| Turnover represents amounts receivable for rent. |
| Tangible fixed assets |
| Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses. |
| The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. |
| Depreciation is provided at the following annual rates in order to write off each asset, other than land and properties under construction, over its estimated useful life, |
| Freehold property - 1% on cost |
| Plant and machinery - 15% on reducing balance |
| Furniture & equipment - 15% on reducing balance |
| At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any item have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| 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. |
| LEAMINGTON AND LULWORTH ESTATES LIMITED (REGISTERED NUMBER: 00677545) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 MARCH 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. |
| Cash and cash equivalents |
| Cash and cash equivalents comprise cash on hand. |
| Trade debtors |
| Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised at the transaction price less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables. |
| Trade creditors |
| Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised at the transaction price and subsequently measured at amortised cost using the effective interest method. |
| Share capital |
| Ordinary shares are classified as equity. |
| Dividends |
| Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| LEAMINGTON AND LULWORTH ESTATES LIMITED (REGISTERED NUMBER: 00677545) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 MARCH 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2023 |
| and 31 March 2024 |
| DEPRECIATION |
| At 1 April 2023 |
| Charge for year |
| At 31 March 2024 |
| NET BOOK VALUE |
| At 31 March 2024 |
| At 31 March 2023 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST OR VALUATION |
| At 1 April 2023 |
| Revaluations |
| At 31 March 2024 |
| NET BOOK VALUE |
| At 31 March 2024 |
| At 31 March 2023 |
| Cost or valuation at 31 March 2024 is represented by: |
| Other |
| investments |
| £ |
| Valuation in 2023 | 13,353 |
| Valuation in 2024 | 5,294 |
| 18,647 |
| Listed Investments are at market value at 31 March 2024. |
| LEAMINGTON AND LULWORTH ESTATES LIMITED (REGISTERED NUMBER: 00677545) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 MARCH 2024 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2023 |
| and 31 March 2024 |
| NET BOOK VALUE |
| At 31 March 2024 |
| At 31 March 2023 |
| Fair value at 31 March 2024 is represented by: |
| £ |
| Valuation in 2024 | 600,000 |
| If Investment property had not been revalued it would have been included at the following historical cost: |
| 31.3.24 | 31.3.23 |
| £ | £ |
| Cost | 29,685 | 29,685 |
| Aggregate depreciation | (6,147 | ) | (6,147 | ) |
| Investment property was valued on an open market basis on 31 March 2024 by the directors. . |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.24 | 31.3.23 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.24 | 31.3.23 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| LEAMINGTON AND LULWORTH ESTATES LIMITED (REGISTERED NUMBER: 00677545) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the Year Ended 31 MARCH 2024 |
| 9. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 1 April 2023 |
| Revaluation in year | 4,288 |
| At 31 March 2024 |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023: |
| 31.3.24 | 31.3.23 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |