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LEUCOTT PROPERTIES LIMITED

Registered Number
07386463
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2024

LEUCOTT PROPERTIES LIMITED
Company Information
for the year from 1 October 2023 to 30 September 2024

Directors

NORMAN, Sophie Jane
THOMAS, Alexander Rhys
THOMAS, David Neil
THOMAS, Julie Louise

Registered Address

The Glen St. Brides Netherwent
Penhow
Caldicot
NP26 3AT

Registered Number

07386463 (England and Wales)
LEUCOTT PROPERTIES LIMITED
Statement of Financial Position
30 September 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets31,772,3841,776,750
1,772,3841,776,750
Current assets
Debtors546,30332,151
Cash at bank and on hand252,01673,263
298,319105,414
Creditors amounts falling due within one year6(94,036)(55,179)
Net current assets (liabilities)204,28350,235
Total assets less current liabilities1,976,6671,826,985
Provisions for liabilities(90,128)(84,813)
Net assets1,886,5391,742,172
Capital and reserves
Called up share capital22
Profit and loss account1,886,5371,742,170
Shareholders' funds1,886,5391,742,172
The financial statements were approved and authorised for issue by the Board of Directors on 18 June 2025, and are signed on its behalf by:
THOMAS, David Neil
Director
Registered Company No. 07386463
LEUCOTT PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 30 September 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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover represents the total invoice value, excluding value added tax, of rental income and service charges made during the period and derives from the provision of commercial and residential properties for letting within the company's ordinary activities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws that have been enacted, or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible fixed assets and depreciation
Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increased accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss. Depreciation is calculated so as to write off the cost or revaluation of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Straight line (years)
Plant and machinery6.67
Vehicles6.67
Office Equipment6.67
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 October 231,686,20745,00030,36094,7591,856,326
Additions--34,189-34,189
Disposals--(23,000)-(23,000)
At 30 September 241,686,20745,00041,54994,7591,867,515
Depreciation and impairment
At 01 October 23-1,4063,94074,23079,576
Charge for year-18,286--18,286
On disposals--(2,731)-(2,731)
At 30 September 24-19,6921,20974,23095,131
Net book value
At 30 September 241,686,20725,30840,34020,5291,772,384
At 30 September 231,686,20743,59426,42020,5291,776,750
The investment properties were valued on 30th September 2024 by the directors who are of the opinion that the residual values of the investment properties are not materially misstated at the balance sheet date.
4.Impairment of tangible fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables6,3606,720
Other debtors20,0296,082
Prepayments and accrued income19,91419,349
Total46,30332,151
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables13,43214,866
Taxation and social security77,66234,509
Other creditors460-
Accrued liabilities and deferred income2,4825,804
Total94,03655,179
7.Controlling party
Ultimate control of the company lies with Mr D. N. Thomas.