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No description of principal activity
2024-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
102
102
102
xbrli:pure
xbrli:shares
iso4217:GBP
2978328
2024-01-01
2024-12-31
2978328
2024-12-31
2978328
2023-12-31
2978328
2023-01-01
2023-12-31
2978328
2023-12-31
2978328
2022-12-31
2978328
core:PlantMachinery
2024-01-01
2024-12-31
2978328
core:MotorVehicles
2024-01-01
2024-12-31
2978328
bus:Director1
2024-01-01
2024-12-31
2978328
core:LandBuildings
2023-12-31
2978328
core:PlantMachinery
2023-12-31
2978328
core:MotorVehicles
2023-12-31
2978328
core:LandBuildings
2024-12-31
2978328
core:PlantMachinery
2024-12-31
2978328
core:WithinOneYear
2024-12-31
2978328
core:WithinOneYear
2023-12-31
2978328
core:AfterOneYear
2024-12-31
2978328
core:AfterOneYear
2023-12-31
2978328
core:LandBuildings
2024-01-01
2024-12-31
2978328
core:ShareCapital
2024-12-31
2978328
core:ShareCapital
2023-12-31
2978328
core:RetainedEarningsAccumulatedLosses
2024-12-31
2978328
core:RetainedEarningsAccumulatedLosses
2023-12-31
2978328
core:CostValuation
core:Non-currentFinancialInstruments
2024-12-31
2978328
core:Non-currentFinancialInstruments
2024-12-31
2978328
core:Non-currentFinancialInstruments
2023-12-31
2978328
core:LandBuildings
2023-12-31
2978328
core:PlantMachinery
2023-12-31
2978328
core:MotorVehicles
2023-12-31
2978328
bus:SmallEntities
2024-01-01
2024-12-31
2978328
bus:AuditExemptWithAccountantsReport
2024-01-01
2024-12-31
2978328
bus:SmallCompaniesRegimeForAccounts
2024-01-01
2024-12-31
2978328
bus:PrivateLimitedCompanyLtd
2024-01-01
2024-12-31
2978328
bus:FullAccounts
2024-01-01
2024-12-31
COMPANY REGISTRATION NUMBER:
2978328
|
Land Acquisitions Limited |
|
|
Filleted Unaudited Financial Statements |
|
|
Land Acquisitions Limited |
|
|
Statement of Financial Position |
|
31 December 2024
Fixed assets
|
Tangible assets |
5 |
|
7,990,731 |
7,519,846 |
|
Investments |
6 |
|
102 |
102 |
|
|
------------ |
------------ |
|
|
7,990,833 |
7,519,948 |
|
|
|
|
|
Current assets
|
Debtors |
7 |
2,018,907 |
|
1,673,979 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
8 |
2,111,146 |
|
1,937,764 |
|
------------ |
|
------------ |
|
Net current liabilities |
|
92,239 |
263,785 |
|
|
------------ |
------------ |
|
Total assets less current liabilities |
|
7,898,594 |
7,256,163 |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
9 |
|
688,438 |
890,823 |
|
|
|
|
|
Provisions
|
Taxation including deferred tax |
|
793,189 |
647,691 |
|
|
------------ |
------------ |
|
Net assets |
|
6,416,967 |
5,717,649 |
|
|
------------ |
------------ |
|
|
|
|
Capital and reserves
|
Called up share capital |
|
300 |
300 |
|
Profit and loss account |
10 |
|
6,416,667 |
5,717,349 |
|
|
------------ |
------------ |
|
Shareholders funds |
|
6,416,967 |
5,717,649 |
|
|
------------ |
------------ |
|
|
|
|
|
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 comprehensive income has not been delivered.
For the year ending 31 December 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
.
|
Land Acquisitions Limited |
|
|
Statement of Financial Position (continued) |
|
31 December 2024
These financial statements were approved by the
board of directors
and authorised for issue on
13 August 2025
, and are signed on behalf of the board by:
Company registration number:
2978328
|
Land Acquisitions Limited |
|
|
Notes to the Financial Statements |
|
Year ended 31 December 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 3 Greengate, Cardale Park, Harrogate, HG1 1GY.
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 accounts have been prepared using the going concern basis. The directors consider this to be wholly appropriate in spite of the net current liabilities given their continued support.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (b) No cash flow statement has been presented for the company.
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
The company recognises revenue on an accruals basis (net of VAT if applicable), when the amount of revenue can be reliably measured and it is probable that the future economic benefits will flow to the company. Revenue comprises rental income arising from investment property leased out and which is recognised in the profit and loss account on a straight line basis over the term of the lease.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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:
|
Plant & Machinery |
- |
25% straight line |
|
Motor Vehicles |
- |
25% straight line |
|
|
|
|
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
3
(2023:
3
).
5.
Tangible assets
|
Land and buildings |
Plant and machinery |
Motor vehicles |
Total |
|
£ |
£ |
£ |
£ |
|
Cost or valuation |
|
|
|
|
|
At 1 January 2024 |
7,415,731 |
13,920 |
182,000 |
7,611,651 |
|
Disposals |
– |
– |
(
182,000) |
(
182,000) |
|
Revaluations |
575,000 |
– |
– |
575,000 |
|
------------ |
-------- |
--------- |
------------ |
|
At 31 December 2024 |
7,990,731 |
13,920 |
– |
8,004,651 |
|
------------ |
-------- |
--------- |
------------ |
|
Depreciation |
|
|
|
|
|
At 1 January 2024 |
– |
12,180 |
79,625 |
91,805 |
|
Charge for the year |
– |
1,740 |
8,531 |
10,271 |
|
Disposals |
– |
– |
(
88,156) |
(
88,156) |
|
------------ |
-------- |
--------- |
------------ |
|
At 31 December 2024 |
– |
13,920 |
– |
13,920 |
|
------------ |
-------- |
--------- |
------------ |
|
Carrying amount |
|
|
|
|
|
At 31 December 2024 |
7,990,731 |
– |
– |
7,990,731 |
|
------------ |
-------- |
--------- |
------------ |
|
At 31 December 2023 |
7,415,731 |
1,740 |
102,375 |
7,519,846 |
|
------------ |
-------- |
--------- |
------------ |
|
|
|
|
|
The investment properties are valued on an open market existing use basis.
6.
Investments
|
Shares in group undertakings |
|
£ |
|
Cost |
|
|
At 1 January 2024 and 31 December 2024 |
102 |
|
---- |
|
Impairment |
|
|
At 1 January 2024 and 31 December 2024 |
– |
|
---- |
|
|
|
Carrying amount |
|
|
At 31 December 2024 |
102 |
|
---- |
|
At 31 December 2023 |
102 |
|
---- |
|
|
7.
Debtors
|
2024 |
2023 |
|
£ |
£ |
|
Trade debtors |
1,812 |
(
25,107) |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
2,002,747 |
1,686,201 |
|
Other debtors |
14,348 |
12,885 |
|
------------ |
------------ |
|
2,018,907 |
1,673,979 |
|
------------ |
------------ |
|
|
|
8.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
216,079 |
211,796 |
|
Trade creditors |
(
292) |
11,552 |
|
Corporation tax |
205,369 |
84,216 |
|
Social security and other taxes |
12,766 |
11,974 |
|
Other creditors |
1,677,224 |
1,618,226 |
|
------------ |
------------ |
|
2,111,146 |
1,937,764 |
|
------------ |
------------ |
|
|
|
9.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
|
Bank loans and overdrafts |
688,438 |
865,823 |
|
Other creditors |
– |
25,000 |
|
--------- |
--------- |
|
688,438 |
890,823 |
|
--------- |
--------- |
|
|
|
Included within creditors: amounts falling due after more than one year is an amount of £124,012 (2023: £293,877) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
10.
Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses. Included within the Profit and Loss reserve is an amount of £4,643,362 relating to the revaluation of investment properties which are un-distributable.
11.
Directors' advances, credits and guarantees
Amounts owed to directors remained in credit throughout the year.
12.
Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRS102.
13.
Controlling party
The company was under the control of the Directors throughout the current and previous year.