1 January 2024 false Taxfiler 2024.6 true 11328225business:PrivateLimitedCompanyLtd2024-01-012024-12-31 113282252023-12-31 113282252024-01-012024-12-31 11328225business:AuditExempt-NoAccountantsReport2024-01-012024-12-31 11328225business:FilletedAccounts2024-01-012024-12-31 113282252024-12-31 11328225business:Director12024-01-012024-12-31 11328225business:CompanySecretary12024-01-012024-12-31 11328225business:RegisteredOffice2024-01-012024-12-31 113282252023-12-31 11328225core:WithinOneYear2024-12-31 11328225core:WithinOneYear2023-12-31 11328225core:AfterOneYear2024-12-31 11328225core:AfterOneYear2023-12-31 11328225core:ShareCapitalcore:PreviouslyStatedAmount2024-12-31 11328225core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 11328225core:RevaluationReservecore:PreviouslyStatedAmount2024-12-31 11328225core:RevaluationReservecore:PreviouslyStatedAmount2023-12-31 11328225core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-12-31 11328225core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 11328225core:PreviouslyStatedAmount2024-12-31 11328225core:PreviouslyStatedAmount2023-12-31 11328225business:SmallEntities2024-01-012024-12-31 11328225countries:EnglandWales2024-01-012024-12-31 11328225business:OrdinaryShareClass12024-01-012024-12-31 11328225business:OrdinaryShareClass12023-01-012023-12-31 113282252023-01-012023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 11328225 (England and Wales)
Leon Haslam Properties Limited Unaudited accounts for the year ended 31 December 2024
Leon Haslam Properties Limited Unaudited accounts Contents
Page
- 2 -
Leon Haslam Properties Limited Company Information for the year ended 31 December 2024
Director
Leon Haslam
Secretary
Ann Haslam
Company Number
11328225 (England and Wales)
Registered Office
West Meadow Farm 123 Main Road Smalley Ilkeston DE7 6DT United Kingdom
- 3 -
Leon Haslam Properties Limited Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Investment property
106,220 
85,993 
Current assets
Cash at bank and in hand
929 
691 
Creditors: amounts falling due within one year
(23,232)
(1,630)
Net current liabilities
(22,303)
(939)
Total assets less current liabilities
83,917 
85,054 
Creditors: amounts falling due after more than one year
(45,998)
(43,998)
Net assets
37,919 
41,056 
Capital and reserves
Called up share capital
100 
100 
Revaluation reserve
49,845 
52,045 
Profit and loss account
(12,026)
(11,089)
Shareholders' funds
37,919 
41,056 
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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 17 August 2025 and were signed on its behalf by
Leon Haslam Director Company Registration No. 11328225
- 4 -
Leon Haslam Properties Limited Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
Leon Haslam Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 11328225. The registered office is West Meadow Farm, 123 Main Road, Smalley, Ilkeston, DE7 6DT, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The financial statements have been prepared on a going concern basis.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax. 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.
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. Changes in fair value are recognised in the profit and loss account.
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.
- 5 -
Leon Haslam Properties Limited Notes to the Accounts for the year ended 31 December 2024
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditiional right to defer settlement of the liability for at least twelve months after the reporting date.
4
Investment property
2024 
£ 
Fair value at 1 January 2024
85,993 
Additions
20,227 
At 31 December 2024
106,220 
The property is currently under construction and has therefore not been independently valued.
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Trade creditors
5,602 
- 
Other creditors
6,000 
- 
Loans from directors
11,130 
1,130 
Accruals
500 
500 
23,232 
1,630 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Other creditors
45,998 
43,998 
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Transactions with related parties
Included within other creditors are the following balances in respect of companies which are related by virtue of common ownership and directorship : At the year end an amount of £45,998 (2023 : £43,998) was owed to Leon Haslam Limited. This loan was interest free and is due for repayment after more than 1 year. As such this loan has been discounted to reflect present value. Impairment has been transferred to equity and is to be unwound to the profit and loss account each year over the full term of the loan. At the year end an amount of £6,000 (2024 : £Nil) was owed to Affinity Sports Academy Limited.
- 6 -
Leon Haslam Properties Limited Notes to the Accounts for the year ended 31 December 2024
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).
- 7 -