Latymer Land and Property Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05141578

Latymer Land and Property Limited

Filleted Unaudited Financial Statements

31 December 2024

Latymer Land and Property Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	5	1,082	1,319
Investments	6	8	8
		-------	-------
		1,090	1,327

Current assets

Stocks		914,021	719,851
Debtors	7	141,306	52,853
Cash at bank and in hand		4,923	9,174
		------------	---------
		1,060,250	781,878

Creditors: amounts falling due within one year	8	1,507,862		1,219,703
		------------		------------
Net current liabilities			447,612	437,825
			---------	---------
Total assets less current liabilities			( 446,522)	( 436,498)
			---------	---------
Net liabilities			( 446,522)	( 436,498)
			---------	---------

Capital and reserves

Called up share capital	10	10
Profit and loss account	( 446,532)	( 436,508)
	---------	---------
Shareholders deficit	( 446,522)	( 436,498)
	---------	---------

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 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 .

Latymer Land and Property Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 28 July 2025 , and are signed on behalf of the board by:

Mrs J A Mott

Director

Company registration number: 05141578

Latymer Land and Property 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 Amersfort Hall, The Common, Potten End, Hertfordshire, HP4 2QF.

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.

Fixed Asset investments are stated at cost less provision for permanent diminution in value.

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 is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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:

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.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2023: 3 ).

5. Tangible assets

	Motor vehicles	Total
	£	£
Cost
At 1 January 2024 and 31 December 2024	11,700	11,700
	--------	--------
Depreciation
At 1 January 2024	10,381	10,381
Charge for the year	237	237
	--------	--------
At 31 December 2024	10,618	10,618
	--------	--------
Carrying amount
At 31 December 2024	1,082	1,082
	--------	--------
At 31 December 2023	1,319	1,319
	--------	--------

6. Investments

	Shares in group undertakings
	£
Cost
At 1 January 2024 and 31 December 2024	8
	----
Impairment
At 1 January 2024 and 31 December 2024	–
	----

Carrying amount
At 31 December 2024	8
	----
At 31 December 2023	8
	----

The company owns 100% of the issued share capital of Latymer Consulting Limited and 70% of Latymer(Chequers) Limited. Both are incorporated in England and Wales and the nature of business of Latymer (Chequers) Limited is the development and sale of real estate, and for Latymer Consulting Limited business consultancy.

Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.

7. Debtors

	2024	2023
	£	£
Trade debtors	40,360	40,839
Other debtors	100,946	12,014
	---------	--------
	141,306	52,853
	---------	--------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	1,365	44,305
Amounts owed to group undertakings and undertakings in which the company has a participating interest	–	( 911)
Social security and other taxes	2,051	–
Other creditors	1,504,446	1,176,309
	------------	------------
	1,507,862	1,219,703
	------------	------------

9. Related party transactions

The company was under the control of Mr C S C Clarke throughout the current and previous year. The company owed its directors £1,169,800, (2022:£608,518) Latymer Consulting Limited owes the company £910, (2022:£80,903). No interest is charged on intercompany loans.