Registration number: 2523915

Laybrook Investments Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Laybrook Investments Limited

Company Information

Directors

Mr T C Banks Mrs C M Banks Mr D J Banks

Company secretary

Mr D J Banks

Registered office

23 Southernhay West Exeter Devon EX1 1PR

Accountants

Redwoods Chartered Certified Accountants2 Clyst Works Clyst Road Topsham Exeter Devon EX3 0DB

Laybrook Investments Limited

(Registration number: 2523915)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	4,079	2,780
Investment property	5	3,800,002	2,900,001
		3,804,081	2,902,781
Current assets
Debtors	6	77,005	433,424
Cash at bank and in hand		180,997	749,637
		258,002	1,183,061
Creditors: Amounts falling due within one year	7	(55,940)	(66,740)
Net current assets		202,062	1,116,321
Net assets		4,006,143	4,019,102
Capital and reserves
Called up share capital	8	2,000	2,000
Retained earnings		4,004,143	4,017,102
Shareholders' funds		4,006,143	4,019,102

For the financial 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 September 2025 and signed on its behalf by:
 

......................................... Mr D J Banks Company secretary and director

Laybrook Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
23 Southernhay West
Exeter
Devon
EX1 1PR

These financial statements were authorised for issue by the Board on 18 September 2025.

2	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 accounts are present in £ sterling and rounded to £1.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Laybrook Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Investment properties	The directors review the book value of properties to fair value at the balance sheet date
Office equipment	30% straight line
Computer equipment	30% straight line
Fixtures and Fittings for Flat	33% straight line

Investment property

Investment property is initially recognised at cost and then subsequently measured at fair value. Changes in fair value are charged/credited in the profit and loss account.

Fair value is determined by the directors as their estimate of the market value at the balance sheet date.

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.

Laybrook Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2023 - 1).

Laybrook Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	6,024	6,024
Additions	3,137	3,137
Disposals	(1,724)	(1,724)
At 31 December 2024	7,437	7,437
Depreciation
At 1 January 2024	3,244	3,244
Charge for the year	1,838	1,838
Eliminated on disposal	(1,724)	(1,724)
At 31 December 2024	3,358	3,358
Carrying amount
At 31 December 2024	4,079	4,079
At 31 December 2023	2,780	2,780

5	Investment properties

	2024 £
At 1 January	2,900,001
Additions	917,462
Fair value adjustments	(17,461)
At 31 December	3,800,002

The revalued amount for investment properties is determined at each financial period end by the directors, and is based on current market rents and the directors view of the investment property market.

Had this class of asset been measured on a historical cost basis, the carrying amount would have been £4,067,492 (2023 - £3,150,030).

There has been no valuation of investment property by an independent valuer.

Laybrook Investments Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Debtors

	2024 £	2023 £
Trade debtors	62,555	410,606
Prepayments	12,430	22,818
Other debtors	2,020	-
	77,005	433,424

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	34,175	32,593
Taxation and social security	9,255	13,242
Accruals and deferred income	9,443	14,255
Other creditors	3,067	6,650
	55,940	66,740

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary of £1 each	2,000	2,000	2,000	2,000