3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2,613 2,150 214 2,364 249 463 198 198 198 xbrli:pure xbrli:shares iso4217:GBP 00751258 2023-10-01 2024-09-30 00751258 2024-09-30 00751258 2023-09-30 00751258 2022-10-01 2023-09-30 00751258 2023-09-30 00751258 2022-09-30 00751258 core:FurnitureFittings 2023-10-01 2024-09-30 00751258 bus:Director1 2023-10-01 2024-09-30 00751258 core:FurnitureFittings 2023-09-30 00751258 core:FurnitureFittings 2024-09-30 00751258 core:WithinOneYear 2024-09-30 00751258 core:WithinOneYear 2023-09-30 00751258 core:ShareCapital 2024-09-30 00751258 core:ShareCapital 2023-09-30 00751258 core:RetainedEarningsAccumulatedLosses 2024-09-30 00751258 core:RetainedEarningsAccumulatedLosses 2023-09-30 00751258 core:CostValuation core:Non-currentFinancialInstruments 2024-09-30 00751258 core:Non-currentFinancialInstruments 2024-09-30 00751258 core:Non-currentFinancialInstruments 2023-09-30 00751258 core:FurnitureFittings 2023-09-30 00751258 bus:SmallEntities 2023-10-01 2024-09-30 00751258 bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 00751258 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 00751258 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 00751258 bus:FullAccounts 2023-10-01 2024-09-30
COMPANY REGISTRATION NUMBER: 00751258
Landare Investments Limited
Filleted Unaudited Financial Statements
For the year ended
30 September 2024
Landare Investments Limited
Financial Statements
Year ended 30 September 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Landare Investments Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
249
463
Investments
6
198
198
----
----
447
661
Current assets
Stock
253,815
239,900
Debtors
7
7,805
7,012
Cash at bank and in hand
101,100
99,215
---------
---------
362,720
346,127
Creditors: amounts falling due within one year
8
1,395,901
1,338,775
------------
------------
Net current liabilities
1,033,181
992,648
------------
---------
Total assets less current liabilities
( 1,032,734)
( 991,987)
------------
---------
Net liabilities
( 1,032,734)
( 991,987)
------------
---------
Landare Investments Limited
Statement of Financial Position (continued)
30 September 2024
2024
2023
Note
£
£
£
Capital and reserves
Called up share capital
4,001
4,001
Profit and loss account
( 1,036,735)
( 995,988)
------------
---------
Shareholders deficit
( 1,032,734)
( 991,987)
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 June 2025 , and are signed on behalf of the board by:
Mr M J I Harries
Director
Company registration number: 00751258
Landare Investments Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Oldfield Road, Bocam Park, Bridgend, CF35 5LJ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors continue to operate the company as a going concern on the good probability that they will realise substantial value for the land well in excess of the carrying value of £253,815 and to meet its obligations. The directors continue to accrue for salary entitlement which has not been paid or credited to the directors’ loan. With the continued support of the directors’ and their reasonable cooperation alongside its working capital and expected realisations the company can implement its plan as to sales and to meet its obligations.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover represents the invoiced value of sales of land, net of value added tax.
Tangible assets
Tangible assets are initially recorded at cost, and 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 comprehensive income and accumulated in equity, 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 increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings etc
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of 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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Work in progress
Work in progress has been assessed as fully recoverable by the directors based on current development appraisals for land sales being considered.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 October 2023 and 30 September 2024
2,613
2,613
-------
-------
Depreciation
At 1 October 2023
2,150
2,150
Charge for the year
214
214
-------
-------
At 30 September 2024
2,364
2,364
-------
-------
Carrying amount
At 30 September 2024
249
249
-------
-------
At 30 September 2023
463
463
-------
-------
6. Investments
Shares in group undertakings
£
Cost
At 1 October 2023 and 30 September 2024
198
----
Impairment
At 1 October 2023 and 30 September 2024
----
Carrying amount
At 30 September 2024
198
----
At 30 September 2023
198
----
The company holds 99% of the ordinary share capital of Midland Securities (Leicester) Ltd and Landare Homes Ltd. Both these companies currently have minimal activity.
All the subsidiary companies were incorporated in England and Wales, and have a financial year end consistent with the company.
7. Debtors
2024
2023
£
£
Other debtors
7,805
7,012
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
600,469
555,179
Trade creditors
10,386
3,638
Amounts owed to group undertakings and undertakings in which the company has a participating interest
20,179
20,179
Social security and other taxes
334
Other creditors
764,867
759,445
------------
------------
1,395,901
1,338,775
------------
------------
Bank loans of £600,469 (2023:£555,179) are secured over land stock.
9. Related party transactions
Included in creditors are amounts owed to Midland Securities (Leicester) Limited of £19,243 (2023: £19,243) and Landare Homes Limited of £936 (2023: £936). The companies are related as Landare Investments Limited owns 99% of the share capital of Midland Securities (Leicester) Limited and Landare Homes Limited.