Registration number:
Landlords Direct Ltd
for the Year Ended 30 September 2024
Landlords Direct Ltd
(Registration number: 06774994)
Balance Sheet as at 30 September 2024
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Note |
2024 |
2023 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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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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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
( |
( |
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Shareholders' deficit |
( |
( |
For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.
.........................................
G Beech
Director
Landlords Direct Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
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Accounting policies |
Statutory information
Landlords Direct Ltd is a private company, limited by shares, domiciled in England and Wales, company number 06774994. The registered office is at Agility House, Rose Lane, Mansfield Woodhouse, Nottinghamshire, NG19 8BA.
Summary of significant accounting policies 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 Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.
Going concern
After due consideration of all relevant factors the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. Revenue is recognised upon delivery of services.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Fixtures and fittings |
25% straight line basis per annum |
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Motor vehicles |
25% straight line basis per annum |
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Office equipment |
25% straight line basis per annum |
Landlords Direct Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)
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1 |
Accounting policies (continued) |
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Landlords Direct Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)
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Tangible assets |
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Fixtures and fittings |
Motor vehicles |
Other tangible assets |
Total |
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Cost |
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At 1 October 2023 |
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Disposals |
- |
( |
- |
( |
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At 30 September 2024 |
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Depreciation |
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At 1 October 2023 |
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Eliminated on disposal |
- |
( |
- |
( |
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At 30 September 2024 |
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Carrying amount |
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At 30 September 2024 |
- |
- |
- |
- |
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At 30 September 2023 |
- |
- |
- |
- |
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Debtors |
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2024 |
2023 |
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Amounts due from related undertakings |
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Other debtors |
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Prepayments and accrued income |
- |
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Landlords Direct Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)
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Creditors |
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2024 |
2023 |
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Due within one year |
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Bank loan |
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Trade creditors |
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HP and finance lease liabilities |
- |
1,219 |
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Amounts owed to related undertakings |
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Directors loan account |
13,805 |
23,805 |
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Taxation and social security |
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Other creditors |
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Accruals |
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2024 |
2023 |
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Due after one year |
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Bank loan |
33,708 |
40,980 |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
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Related party transactions |
During the year the directors had a loan account with the company. At the balance sheet date the amount due to the directors was £13,805 (2023 : £23.805). The loan was interest free.