L And C Developments (Southport) Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 04799342 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

L And C Developments (Southport) Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

C M Collins

L P Collins

P J Collins

SECRETARY:

C M Collins

REGISTERED OFFICE:

8 Lulworth Road

Southport

Merseyside

PR8 2AT

REGISTERED NUMBER:

04799342 (England and Wales)

ACCOUNTANTS:

Kinsella Clarke Limited

61 Stanley Road

Bootle

Merseyside

L20 7BZ

FIXED ASSETS

Tangible assets

4

10,013,688

9,273,955

CURRENT ASSETS

Stocks

1,768,032

2,635,359

Debtors

5

61,045

129,442

Cash at bank

44,447

143,506

1,873,524

2,908,307

CREDITORS

Amounts falling due within one year

6

3,309,401

3,548,455

NET CURRENT LIABILITIES

(1,435,877

)

(640,148

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

8,577,811

8,633,807

CREDITORS

Amounts falling due after more than one
year

7

(3,926,920

)

(4,332,424

)

PROVISIONS FOR LIABILITIES

(435,948

)

(370,431

)

NET ASSETS

4,214,943

3,930,952

CAPITAL AND RESERVES

Called up share capital

100

Fair value reserve

8

1,849,396

1,579,204

Retained earnings

2,365,447

2,351,648

SHAREHOLDERS' FUNDS

4,214,943

3,930,952

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by:

L P Collins - Director

1.	STATUTORY INFORMATION

L And C Developments (Southport) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

In line with accounting standards for investment companies, no depreciation has been charged on land and buildings.

Depreciation has been provided on other tangible assets at the following rates in order to write off each asset over it's estimated useful life:-

Plant and machinery etc - 15% & 20% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST OR VALUATION

At 1 January 2024

9,213,791

255,060

9,468,851

Additions

402,639

18,898

421,537

Revaluations

333,570

-

333,570

At 31 December 2024

9,950,000

273,958

10,223,958

DEPRECIATION

At 1 January 2024

-

194,896

Charge for year

-

15,374

At 31 December 2024

-

210,270

NET BOOK VALUE

At 31 December 2024

9,950,000

63,688

10,013,688

At 31 December 2023

9,213,791

60,164

9,273,955

In the opinion of the directors, land and building has been shown at fair value.

Cost or valuation at 31 December 2024 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

Valuation in 2018

1,148,786

-

1,148,786

Valuation in 2020

(295,111

)

-

(295,111

)

Valuation in 2021

15,570

-

15,570

Valuation in 2023

1,080,390

-

1,080,390

Valuation in 2024

333,570

-

333,570

Cost

7,666,795

273,958

7,940,753

9,950,000

273,958

10,223,958

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

60,745

43,951

Other debtors

300

85,491

61,045

129,442

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts

332,500

Trade creditors

18,533

32,414

Taxation and social security

8,688

21,478

Other creditors

2,949,680

3,162,063

3,309,401

3,548,455

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans

3,926,920

4,332,424

Amounts falling due in more than five years:

Repayable by instalments

Bank loans BOC more than 5 yrs

3,400,000

8.

RESERVES

Fair

value

reserve

£

At 1 January 2024

1,579,204

Current year revaluation

270,192

At 31 December 2024

1,849,396

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

C M Collins

Balance outstanding at start of year

(928,086

)

(664,797

)

Amounts advanced

30,211

240

Amounts repaid

(500

)

(263,529

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(898,375

)

(928,086

)

L P Collins

Balance outstanding at start of year

(1,183,341

)

(725,341

)

Amounts advanced

20,000

-

Amounts repaid

(386,500

)

(458,000

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(1,549,841

)

(1,183,341

)

P J Collins

Balance outstanding at start of year

(615,364

)

(61,329

)

Amounts advanced

1,414,261

762

Amounts repaid

(850,939

)

(554,797

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(52,042

)

(615,364

)