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Registration number: 06774994

Landlords Direct Ltd

Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Landlords Direct Ltd

(Registration number: 06774994)

Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

255,145

254,659

Cash at bank and in hand

 

17,784

16,249

 

272,929

270,908

Creditors: Amounts falling due within one year

5

(371,209)

(370,854)

Total assets less current liabilities

 

(98,280)

(99,946)

Creditors: Amounts falling due after more than one year

5

(33,708)

(40,980)

Net liabilities

 

(131,988)

(140,926)

Capital and reserves

 

Called up share capital

10,000

10,000

Retained earnings

(141,988)

(150,926)

Shareholders' deficit

 

(131,988)

(140,926)

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 25 June 2025 and signed on its behalf by:
 

.........................................

G Beech

Director

 

Landlords Direct Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

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:

Asset class

Depreciation method and rate

Fixtures and fittings

25% straight line basis per annum

Motor vehicles

25% straight line basis per annum

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)

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

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 7).

 

Landlords Direct Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

3

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Other tangible assets
 £

Total
£

Cost

At 1 October 2023

27,941

42,471

13,914

84,326

Disposals

-

(20,011)

-

(20,011)

At 30 September 2024

27,941

22,460

13,914

64,315

Depreciation

At 1 October 2023

27,941

42,471

13,914

84,326

Eliminated on disposal

-

(20,011)

-

(20,011)

At 30 September 2024

27,941

22,460

13,914

64,315

Carrying amount

At 30 September 2024

-

-

-

-

At 30 September 2023

-

-

-

-

4

Debtors

2024
£

2023
£

Amounts due from related undertakings

251,586

111,586

Other debtors

3,559

2,797

Prepayments and accrued income

-

140,276

 

255,145

254,659

 

Landlords Direct Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

5

Creditors

2024
£

2023
£

Due within one year

Bank loan

7,236

7,236

Trade creditors

7,174

6,213

HP and finance lease liabilities

-

1,219

Amounts owed to related undertakings

327,712

317,763

Directors loan account

13,805

23,805

Taxation and social security

2,772

2,218

Other creditors

9,870

9,800

Accruals

2,640

2,600

371,209

370,854

2024
£

2023
£

Due after one year

Bank loan

33,708

40,980

6

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 £12,570 (2023 - £Nil).

7

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.