| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| LOCKSBRIDGE LAND DEVELOPMENTS LTD |
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| LOCKSBRIDGE LAND DEVELOPMENTS LTD |
| LOCKSBRIDGE LAND DEVELOPMENTS LTD (REGISTERED NUMBER: 14396259) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| LOCKSBRIDGE LAND DEVELOPMENTS LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 40 High Street |
| Northwood |
| Middlesex |
| HA6 1BN |
| LOCKSBRIDGE LAND DEVELOPMENTS LTD (REGISTERED NUMBER: 14396259) |
| BALANCE SHEET |
| 30 SEPTEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| CURRENT ASSETS |
| Stocks | 4 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 5 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 6 |
| 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. |
| LOCKSBRIDGE LAND DEVELOPMENTS LTD (REGISTERED NUMBER: 14396259) |
| BALANCE SHEET - continued |
| 30 SEPTEMBER 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| LOCKSBRIDGE LAND DEVELOPMENTS LTD (REGISTERED NUMBER: 14396259) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Locksbridge Land Developments Ltd is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| At the balance sheet date, the company had an excess of current liabilities over current assets. The directors have reviewed the ongoing cash requirements of the company and as the shareholders have continued to support the business, they consider that it should have the means to settle its liabilities as they fall due for a period of twelve months from the date of approval of these financial statements. Accordingly, the financial statements have been prepared on the going concern basis. |
| Stocks |
| Stocks of property in the course of development and completed units are stated at the lower of cost and net realisable value. Direct cost comprises the cost of land, material and development costs and those direct overheads that have been incurred in bringing the stocks to their present location and condition. |
| At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss. |
| Debtors and creditors receivable/payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account. |
| Loans and borrowings |
| Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method. |
| Cash and cash equivalent |
| Cash and cash equivalent include cash in hand and deposits held at call with bank. |
| LOCKSBRIDGE LAND DEVELOPMENTS LTD (REGISTERED NUMBER: 14396259) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | STOCKS |
| 2024 | 2023 |
| £ | £ |
| Work in progress |
| At the balance sheet date the aggregate amount of finance costs capitalised amounted to £80,000 (2023: £27,166) |
| 5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Deferred consideration | 150,000 | - |
| Directors' current accounts | 1,153,210 | 446,655 |
| Accrued expenses |
| LOCKSBRIDGE LAND DEVELOPMENTS LTD (REGISTERED NUMBER: 14396259) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| 6. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |