REGISTERED NUMBER: 06947792 (England and Wales)

Financial Statements for the Year Ended 31st December 2024

for

Landcap Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

F McKinnon

R McKinnon

REGISTERED OFFICE:

3rd Floor

54 Brooks Mews

London

W1K 4EF

REGISTERED NUMBER:

06947792 (England and Wales)

ACCOUNTANTS:

Sampson Fielding Ltd

34 - 35 Clarges Street

Mayfair

London

W1J 7EJ

FIXED ASSETS

Tangible assets

4

3,709

5,141

CURRENT ASSETS

Debtors

5

917,463

2,086,493

Cash at bank and in hand

19,017

1,312

936,480

2,087,805

CREDITORS

Amounts falling due within one year

6

249,671

1,501,784

NET CURRENT ASSETS

686,809

586,021

TOTAL ASSETS LESS CURRENT LIABILITIES

690,518

591,162

CREDITORS

Amounts falling due after more than one year

7

4,451

13,943

NET ASSETS

686,067

577,219

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

685,067

576,219

SHAREHOLDERS' FUNDS

686,067

577,219

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23rd September 2025 and were signed on its behalf by:

R McKinnon - Director

F McKinnon - Director

1.	STATUTORY INFORMATION

Landcap Limited 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.

Turnover

Turnover represents services invoiced by the company, excluding value added tax.

Turnover is recognised during the period to which the service relates.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

These financial statements have been prepared on the going concern basis, which presumes that the company is able to continue in operational existence for the foreseeable future. The company is reliant upon the continued support of its creditors . If this support was withdrawn, the company would be unable to continue in operational existence. Adjustments would then have to be made to reduce the balance sheet values of assets to their recoverable amounts and to provide for any further liabilities that may arise. The company is unable to quantify the effect of such adjustments on the financial statements. The directors believe that it is appropriate for the financial statements to be prepared on the going concern basis.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1st January 2024

and 31st December 2024

44,503

1,123

45,626

DEPRECIATION

At 1st January 2024

40,269

216

40,485

Charge for year

1,058

374

1,432

At 31st December 2024

41,327

590

41,917

NET BOOK VALUE

At 31st December 2024

3,176

533

3,709

At 31st December 2023

4,234

907

5,141

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

110,375

78,682

Other debtors

807,088

2,007,811

917,463

2,086,493

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans and overdrafts (see note 8)

10,000

10,618

Trade creditors

46,730

24,458

Taxation and social security

60,938

7,384

Other creditors

132,003

1,459,324

249,671

1,501,784

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans (see note 8)

4,451

13,943

8.

LOANS

An analysis of the maturity of loans is given below:

31/12/24

31/12/23

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

-

618

Bank loans

10,000

10,000

10,000

10,618

Amounts falling due between one and two years:

Bank loans - 1-2 years

4,451

10,000

31/12/24

31/12/23

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

3,943

In May 2020 the company obtained a Bounce Back loan for £50,000. The loan is repayable over 5 years, starting in June 2021. Interest is at a rate of 2.5%.