COMPANY REGISTRATION NUMBER:
01857918
|
LEADAN PROPERTIES LIMITED |
|
|
FILLETED UNAUDITED FINANCIAL STATEMENTS |
|
|
LEADAN PROPERTIES LIMITED |
|
YEAR ENDED 31 DECEMBER 2024
|
Notes to the financial statements |
3 to 5 |
|
|
|
LEADAN PROPERTIES LIMITED |
|
|
BALANCE SHEET (continued) |
|
31 December 2024
CAPITAL AND RESERVES
|
Called up share capital |
7 |
|
100 |
|
100 |
|
Profit and loss account |
|
(
29,263) |
|
(
27,114) |
|
|
--------- |
|
--------- |
|
SHAREHOLDERS FUNDS |
|
(
29,163) |
|
(
27,014) |
|
|
--------- |
|
--------- |
|
|
|
|
|
|
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 profit and loss account 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
.
These financial statements were approved by the
board of directors
and authorised for issue on
25 September 2025
, and are signed on behalf of the board by:
Company registration number:
01857918
|
LEADAN PROPERTIES 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 New Burlington House, 1075 Finchley Road, London, NW11 0PU.
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.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The valuation of investment properties is inherently subjective, depending on many factors, including the individual nature of each property, its location and expected future net rental values, market yields and comparable market transactions. Therefore the valuations are subject to a degree of uncertainty and are made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.
Taxation
Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income. Current tax is expected tax payable or receivable on the taxable income or loss for the year, using rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years. Deferred tax is provided on timing differences which arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is measured at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date. For investment property that is measured at fair value, deferred tax is provided at the rate and allowances applicable to the sale of the property.
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.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities 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 joint venture arising before or after the date of acquisition.
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.
4.
INVESTMENTS
|
Shares in group undertakings |
|
£ |
|
Cost |
|
|
At 1 January 2024 and 31 December 2024 |
2 |
|
----- |
|
Impairment |
|
|
At 1 January 2024 and 31 December 2024 |
– |
|
----- |
|
|
|
Carrying amount |
|
|
At 31 December 2024 |
2 |
|
----- |
|
At 31 December 2023 |
2 |
|
----- |
|
|
5.
DEBTORS
|
2024 |
2023 |
|
£ |
£ |
|
Amounts owed by group undertakings |
117,184 |
119,033 |
|
Other debtors |
13,381 |
13,381 |
|
----------- |
----------- |
|
130,565 |
132,414 |
|
----------- |
----------- |
|
|
|
6.
CREDITORS:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
|
Other creditors |
159,730 |
159,430 |
|
----------- |
----------- |
|
|
|
7.
CALLED UP SHARE CAPITAL
Issued, called up and fully paid
|
2024 |
2023 |
|
No. |
£ |
No. |
£ |
|
Ordinary shares of £ 1 each |
100 |
100 |
100 |
100 |
|
----- |
----- |
----- |
----- |
|
|
|
|
|
8.
RELATED PARTY TRANSACTIONS
(i) Included in Other debtors are loans aggregating £13,381 (2023: £13,381) due from companies connected with the directors and shareholders. The loans are interest-free and repayable on demand.
(ii) Included in Other creditors is a loan of £27,937 (2023: £26,674) due to a company connected with the directors and shareholders. The loan is interest-free and repayable on demand.