Registration number:
LCA Land Limited
for the Year Ended 31 December 2023
LCA Land Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Financial Statements |
LCA Land Limited
Company Information
Director |
P G Prickett |
Registered office |
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Auditors |
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LCA Land Limited
(Registration number: 10270225)
Statement of Financial Position as at 31 December 2023
Note |
2023 |
2022 |
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Current assets |
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Debtors |
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- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
(3,935) |
(905) |
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Shareholders' deficit |
(3,835) |
(805) |
Approved and authorised by the
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LCA Land Limited
Notes to the Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
Accounting policies |
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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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 of the financial statements is Pound Sterling (£) rounded to the nearest Pound.
Disclosure of long or short period
LCA Land Limited
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
2 |
Accounting policies (continued) |
Going concern
Administration of Holding Company: On 28th January, 2025 the holding company, Redbookinternational Limited, entered into administration due to financial pressure and to streamline the group companies. The appointed administrators are Paul Davies and Sandra Mundy of James Cowper Kreston. The administration process is ongoing, and the administrators are working to realize the assets of the Group and settle its liabilities.
Sale of Subsidiaries: Subsequent to the year-end date, on 29th April, 2025, the administrators completed the sale of the company's subsidiaries, Bricks Leicester Capital Limited, Bricks Salford 2 Capital Limited, Bricks Swansea Capital Limited and LCA Capital Limited, including subsidiaries of these companies to Uniquarters Limited. The sale was part of the strategy to maximize returns to creditors. The financial impact of this transaction will be reflected in the next financial period.
The Management has assessed the implications of the sale on the Company’s ability to continue as a going concern and concluded that the going concern basis of preparation remains appropriate as at the date of approval of these financial statements.
Notwithstanding this assessment, the Director recognises that there are issues which indicates that a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern.
The company generated losses of £3,030 in the year ended 31 December 2023 and has net liabilities of £3,835 at 31 December 2023. The company doesn't generate sufficient income to be self-sufficient. As a result company is reliant on the on the financial support of its subsidiaries and ultimate parent company not recalling the loan due to it. The subsidiaries have material uncertainties with respect to going concern due to administration of immediate parent undertaking which has resulted in all the intercompany liabilities to ultimate parent undertaking recoverable on demand. There
is therefore a risk that such debts cannot be repaid on demand.
The subsidiaries are cross-guarantor of loans
totaling £142.404m at 31 December 2023, which are either
overdue
or due
for
repayment
within
12
months
of signing
the
financial statements, and therefore the imminent repayment calls into question the ability of the subsidiaries to continue as a going concern should it be required to repay this loan.
Although
the
Director is
strongly of
the view
that subsidiaries
will
be
able
to
re‑finance
these
loans,
such
that
the company will
be
able
to
operate
as
a
going
concern,
he
recognises
that
the
issues
above
may
cast
significant
doubt
on the
ability
of
the
subsidiaries
to
provide
this
company
the
financial
support
referred
to
above.
Accordingly
significant doubt
exists
about
this
company's
ability
to
continue
as
a
going
concern and,
therefore,
that
it
may
be
unable
to realise
its
assets
and
discharge
its
liabilities
in
the
normal
course
of
business.
LCA Land Limited
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
2 |
Accounting policies (continued) |
Audit report
The name of the Senior Statutory Auditor who signed the audit report on
.........................................
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Financial instruments
Classification
LCA Land Limited
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Debtors |
Current |
2023 |
2022 |
Other debtors |
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- |
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- |
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Amounts owed to group undertakings |
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Accruals and deferred income |
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- |
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Related party transactions |
As permitted by FRS 102, the company has taken advantages of the exemption from disclosing the transactions entered into between wholly owned group companies and those group company transactions that have been performed on an arm's length basis.
Relationship between entity and parents |
The parent of the largest group in which these financial statements are consolidated is
The address of Bricks Group Holdings Limited is:
LCA Land Limited
Notes to the Financial Statements for the Year Ended 31 December 2023 (continued)
Subsequent events after the reporting period |
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