REGISTERED NUMBER: 09298619 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Langley Properties (North) ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

J Lamb

REGISTERED OFFICE:

134 Leeds Road

Shipley

West Yorkshire

BD18 1BX

REGISTERED NUMBER:

09298619 (England and Wales)

FIXED ASSETS

Tangible assets

4

3,926,271

3,950,790

CURRENT ASSETS

Stocks

5

4,233,267

9,628,917

Debtors

6

4,199,928

4,370,176

Cash at bank and in hand

111,937

22,817

8,545,132

14,021,910

CREDITORS

Amounts falling due within one year

7

6,448,761

7,043,616

NET CURRENT ASSETS

2,096,371

6,978,294

TOTAL ASSETS LESS CURRENT LIABILITIES

6,022,642

10,929,084

CREDITORS

Amounts falling due after more than one year

8

-

5,201,895

NET ASSETS

6,022,642

5,727,189

CAPITAL AND RESERVES

Called up share capital

5,595,002

5,595,002

Retained earnings

427,640

132,187

SHAREHOLDERS' FUNDS

6,022,642

5,727,189

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 director acknowledges his 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 director and authorised for issue on 29 September 2025 and were signed by:

J Lamb - Director

1.	STATUTORY INFORMATION

Langley Properties (North) 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.

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

-

15% on cost

Motor vehicles

-

25% on cost

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2024

3,840,600

1,199

213,097

42,190

4,097,086

Additions

5,205

-

12,438

-

17,643

At 31 December 2024

3,845,805

1,199

225,535

42,190

4,114,729

DEPRECIATION

At 1 January 2024

-

1,199

111,239

33,858

146,296

Charge for year

-

-

33,830

8,332

42,162

At 31 December 2024

-

1,199

145,069

42,190

188,458

NET BOOK VALUE

At 31 December 2024

3,845,805

-

80,466

-

3,926,271

At 31 December 2023

3,840,600

-

101,858

8,332

3,950,790

5.

STOCKS

31.12.24 31.12.23

Trading Properties at Cost 4,233,267 9,628,917

The replacement and the net realisable values of the stock, based on the market value at the year end , as assessed by external experts, have been reviewed by the director at £4,500,000 (2023: £12,529,000.).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

15,374

142,551

Other debtors

4,184,554

4,227,625

4,199,928

4,370,176

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

3,677

345,625

Trade creditors

6,106,599

6,161,421

Taxation and social security

136,338

12,143

Other creditors

202,147

524,427

6,448,761

7,043,616

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

-

5,201,895

31.12.24

31.12.23

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

3,820,895

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

JT Lamb has advanced to the company £173,270 (2023 £395,218)..The financial statements have been prepared on a going concern basis with the support of these directors.