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REGISTERED NUMBER: 04297479 (England and Wales)





FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2024

FOR

LIDDELL ESTATES LIMITED

LIDDELL ESTATES LIMITED (REGISTERED NUMBER: 04297479)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LIDDELL ESTATES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST OCTOBER 2024







DIRECTORS: Mr P J Liddell
Mrs M J Liddell





SECRETARY: Mrs M J Liddell





REGISTERED OFFICE: The Estate Office
Yokesford Hill Estate Belbins
Romsey
Hampshire
SO51 0PF





REGISTERED NUMBER: 04297479 (England and Wales)





AUDITORS: Shaw Gibbs (Audit) Limited
Chartered Certified Accountants
Statutory Auditor
25 St Thomas Street
Winchester
Hampshire
SO23 9HJ

LIDDELL ESTATES LIMITED (REGISTERED NUMBER: 04297479)

BALANCE SHEET
31ST OCTOBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 8,983,651 8,902,830

CURRENT ASSETS
Debtors 5 2,195,648 2,229,549
Cash at bank 21,185 27,987
2,216,833 2,257,536
CREDITORS
Amounts falling due within one year 6 1,543,284 1,637,345
NET CURRENT ASSETS 673,549 620,191
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,657,200

9,523,021

CREDITORS
Amounts falling due after more than one
year

7

(77,222

)

(132,628

)

PROVISIONS FOR LIABILITIES (1,048,973 ) (1,048,021 )
NET ASSETS 8,531,005 8,342,372

CAPITAL AND RESERVES
Called up share capital 4 4
Revaluation reserve 9 4,516,991 4,516,991
Retained earnings 4,014,010 3,825,377
SHAREHOLDERS' FUNDS 8,531,005 8,342,372

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th June 2025 and were signed on its behalf by:





Mr P J Liddell - Director


LIDDELL ESTATES LIMITED (REGISTERED NUMBER: 04297479)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST OCTOBER 2024


1. STATUTORY INFORMATION

Liddell Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historic cost convention, modified to include the revaluation of freehold properties. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage from the following disclosure requirements:

- Section 4 'Statement of Financial Position' - Reconciliation of the opening and closing number of shares;
- Section 7 'Statement of Cash Flows' - Presentation of a statement of cash flow and related notes and disclosures'
- Section 33 'Related Party Disclosures' - Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Liddell Holdings (Wessex) Limited. These consolidated financial statements are available from its registered office, The Estate Office, Yokesford Hill Estate, Belbins, Romsey, Hampshire, SO51 0PF.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimate and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements:

- Valuation of freehold property
- Depreciation policy

Valuation of freehold property
Land and buildings are revalued by the directors based on their estimate of the market value at the balance sheet date.

LIDDELL ESTATES LIMITED (REGISTERED NUMBER: 04297479)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024


2. ACCOUNTING POLICIES - continued

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for property rentals, and is shown net of VAT. Turnover is recognised on the property rental period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 20% on reducing balance

Tangible fixed assets are initially measured at cost and subsequently measures at cost or valuation net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or changed to profit or loss.

Freehold properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being the fair value at the date of valuation less any subsequent depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value. In assessing the annual depreciation charge on those assets the directors have taken into consideration the estimated useful economic life of the assets and their estimated residual values.

Having also taken into account the level of maintenance at which the properties are maintained, based on all of these factors, the directors consider that a depreciation charge is not required.

Land and buildings are principally let to a group company for use in the group's trade. Part of the land is let to third parties. As land and buildings are held primarily for use in a trade they are treated as property plant and equipment within tangible fixed assets and are not accounted for as investment property.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ' Other Financial Instruments' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

LIDDELL ESTATES LIMITED (REGISTERED NUMBER: 04297479)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024


2. ACCOUNTING POLICIES - continued
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company are deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

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.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, and funding has been secured with the company's bankers as required. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

LIDDELL ESTATES LIMITED (REGISTERED NUMBER: 04297479)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024


2. ACCOUNTING POLICIES - continued

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets 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 an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate which reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the carrying amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impair losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increase carrying amount does not excess the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

LIDDELL ESTATES LIMITED (REGISTERED NUMBER: 04297479)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1st November 2023 8,900,000 20,934 8,920,934
Additions - 85,670 85,670
At 31st October 2024 8,900,000 106,604 9,006,604
DEPRECIATION
At 1st November 2023 - 18,104 18,104
Charge for year - 4,849 4,849
At 31st October 2024 - 22,953 22,953
NET BOOK VALUE
At 31st October 2024 8,900,000 83,651 8,983,651
At 31st October 2023 8,900,000 2,830 8,902,830

Cost or valuation at 31st October 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2008 993,316 - 993,316
Valuation in 2018 593,346 - 593,346
Valuation in 2020 1,400,000 - 1,400,000
Valuation in 2022 2,500,000 - 2,500,000
Cost 3,413,338 106,604 3,519,942
8,900,000 106,604 9,006,604

Land and buildings with a carrying amount of £8,900,000 were valued professionally on 25th August 2022.

Land and buildings are carried at valuation. if land and buildings were measured using the cost model, the carrying amounts would have been £3,413,338 (2023 - £3,413,338), being cost £3,413,338 (2023 - £3,413,338) and depreciation £nil (2023 - £nil).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 36,579 11,364
Other debtors 2,159,069 2,218,185
2,195,648 2,229,549

LIDDELL ESTATES LIMITED (REGISTERED NUMBER: 04297479)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 47,418 49,909
Trade creditors 4,130 635
Amounts owed to group undertakings 1,394,731 1,396,008
Taxation and social security 26,193 120,281
Other creditors 70,812 70,512
1,543,284 1,637,345

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 77,222 132,628

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 124,640 182,537

Bank loans are secured by legal charge against the freehold property of the company.

Creditors falling due after 5 years are £nil (2022 - £nil)

9. RESERVES
Revaluation
reserve
£   
At 1st November 2023
and 31st October 2024 4,516,991

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Barr FCA (Senior Statutory Auditor)
for and on behalf of Shaw Gibbs (Audit) Limited

11. FINANCIAL COMMITMENTS, GUARANTEES AND CONTINGENT LIABILITIES

There is a cross party guarantee between the company and its fellow subsidiary, Aceliftaway Limited, relating to the bank borrowings within Aceliftaway Limited. Aceliftaway Limited had bank borrowings of £911,253 as at 31 October 2024 (2023: £984,624).

LIDDELL ESTATES LIMITED (REGISTERED NUMBER: 04297479)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST OCTOBER 2024


12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st October 2024 and 31st October 2023:

2024 2023
£    £   
Mr P J Liddell and Mrs M J Liddell
Balance outstanding at start of year (36,712 ) (65,336 )
Amounts advanced - (376 )
Amounts repaid - 29,000
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (36,712 ) (36,712 )

13. RELATED PARTY DISCLOSURES

At the year end, the company was owed £2,014,771 (2023 - £2,014,331) from Liddell Farms Limited. Mr PJ & Mrs MJ Liddell are directors and shareholders of Liddell Farms Limited.

Liddell Estates Limited rents land to a fellow subsidiary, Ace Liftaway Limited. During the current year Liddell Estates Limited has given Ace Liftaway Limited a £300,000 rent reduction.

14. ULTIMATE CONTROLLING PARTY

The parent and ultimate parent company is Liddell Holdings (Wessex) Limited, a company registered in England and Wales.

The ultimate controlling parties are Mr PJ and Mrs MJ Liddell by virtue of their 100% shareholding in the parent company.

The smallest and largest group that the company is consolidated in is that of the parent company, Liddell Holdings (Wessex) Limited. Financial statements can be obtained from The Estate Office, Yokesford Hill Estate, Belbins, Romsey, Hampshire, SO51 0PF.