Company registration number 03763903 (England and Wales)
LEATON ESTATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
LEATON ESTATES LIMITED
COMPANY INFORMATION
Director
Mr A M Rowbottom
Company number
03763903
Registered office
Leaton Grange
Church Lane
Bobbington
Stourbridge
West Midlands
DY7 5DE
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Santander UK Plc
Bridle Road
Bootle
Merseyside
L30 4UA
LEATON ESTATES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
LEATON ESTATES LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LEATON ESTATES LIMITED FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Leaton Estates Limited for the year ended 30 September 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Leaton Estates Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Leaton Estates Limited and state those matters that we have agreed to state to the board of directors of Leaton Estates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Leaton Estates Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Leaton Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Leaton Estates Limited. You consider that Leaton Estates Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Leaton Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ormerod Rutter Limited
26 June 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
LEATON ESTATES LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
47,550
48,544
Investment property
4
3,618,084
3,703,083
Investments
5
280,328
280,328
3,945,962
4,031,955
Current assets
Debtors
6
37,938
37,661
Cash at bank and in hand
1,014,594
898,765
1,052,532
936,426
Creditors: amounts falling due within one year
7
(1,776,025)
(1,728,012)
Net current liabilities
(723,493)
(791,586)
Total assets less current liabilities
3,222,469
3,240,369
Creditors: amounts falling due after more than one year
8
(2,500,000)
(2,500,000)
Provisions for liabilities
10
(589)
(777)
Net assets
721,880
739,592
Capital and reserves
Called up share capital
11
2
2
Non-distributable reserves
12
129,023
129,023
Profit and loss reserves
592,855
610,567
Total equity
721,880
739,592

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

LEATON ESTATES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 26 June 2025
Mr A M Rowbottom
Director
Company registration number 03763903 (England and Wales)
LEATON ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
1
Accounting policies
Company information

Leaton Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is Leaton Grange, Church Lane, Bobbington, Stourbridge, West Midlands, United Kingdom, DY7 5DE.

1.1
Accounting convention

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 have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services and rents provided in the normal course of business, and is shown net of VAT. The fair value of consideration for rents takes into account any lease premiums or rent free periods, which are recognised on a straight line basis over the lease term.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

Revenue from the provision of property rental is recognised by reference to the period of its occupancy and where the amount of rent can be measured reliably.

1.3
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
15% on reducing balance and nil
Motor vehicles
25% on reducing balance
1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.

1.5
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

LEATON ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.8
Leases
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
LEATON ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 1 October 2023 and 30 September 2024
56,397
6,750
63,147
Depreciation and impairment
At 1 October 2023
11,649
2,954
14,603
Depreciation charged in the year
45
949
994
At 30 September 2024
11,694
3,903
15,597
Carrying amount
At 30 September 2024
44,703
2,847
47,550
At 30 September 2023
44,748
3,796
48,544
4
Investment property
2024
£
Fair value
At 1 October 2023
3,703,084
Disposals
(85,000)
At 30 September 2024
3,618,084

The director has assessed the market value of the properties and considers that there has been no significant change in the market value at the year end.

5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
280,328
280,328
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
37,938
37,661
LEATON ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
13,483
12,883
Amounts owed to group undertakings
1,658,777
1,653,548
Taxation and social security
11,988
11,834
Other creditors
91,777
49,747
1,776,025
1,728,012
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
2,500,000
2,500,000

 

9
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Bank loans
2,500,000
2,500,000
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
10
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
589
777
11
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
2
2
2
2
12
Non-distributable reserves
2024
2023
£
£
At the beginning and end of the year
129,023
129,023
LEATON ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
13
Related party transactions

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.

14
Control

Ultimate parent company

The ultimate parent company is Leaton Estates Holdings Limited, a company registered in England and Wales.

Ultimate controlling party

The ultimate controlling party is Mr A M Rowbottom by virtue of his controlling interest in the ultimate parent company.

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