Loadace Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02386434 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Loadace Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A J White

Mrs A Underhill

Mrs S Ling

SECRETARY:

Mrs S Ling

REGISTERED OFFICE:

Woodlands

Staplegrove

Taunton

Somerset

TA2 6AL

REGISTERED NUMBER:

02386434 (England and Wales)

FIXED ASSETS

Tangible assets

4

-

Investments

5

50

Investment property

6

16,373,892

15,675,623

16,373,942

15,675,673

CURRENT ASSETS

Stocks

-

308,190

Debtors

7

843,205

25,454

Cash at bank

86,158

137,763

929,363

471,407

CREDITORS

Amounts falling due within one year

8

646,400

625,114

NET CURRENT ASSETS/(LIABILITIES)

282,963

(153,707

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

16,656,905

15,521,966

CREDITORS

Amounts falling due after more than one
year

9

(4,101,671

)

(3,981,211

)

PROVISIONS FOR LIABILITIES

11

(266,108

)

(98,295

)

NET ASSETS

12,289,126

11,442,460

CAPITAL AND RESERVES

Called up share capital

200,000

Other reserves

1,377,183

941,552

Retained earnings

10,711,943

10,300,908

SHAREHOLDERS' FUNDS

12,289,126

11,442,460

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 8 September 2025 and were signed on its behalf by:

Mrs A Underhill - Director

A J White - Director

Mrs S Ling - Director

1.	STATUTORY INFORMATION

Loadace 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 represents amounts due during the year, exclusive of Value Added Tax.

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

-

20% on straight line basis

Investments in associates

Investments in associate undertakings are recognised at cost.

Investment property

Investment properties are initially recognised at cost and subsequently carried at fair value, determined annually by the Director who is not a professionally qualified valuer. Changes in fair values are recognised in the profit and loss.

The investment properties are subject to renovations or improvements at regular intervals. The cost of major renovations and improvements are capitalised and the carrying amounts of the replaced components are recognised in the profit and loss. The cost of maintenance, repairs and minor improvements is recognised in the profit and loss when incurred.

On disposal of an investment property, the difference between the disposal proceeds and the carrying amount is recognised in the profit or loss.

Stocks

Stock comprising property under development and represents accumulated costs of development shown net of cost or net realisable value.

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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

machinery

fittings

Totals

£

COST

At 1 April 2024

and 31 March 2025

13,618

70,758

84,376

DEPRECIATION

At 1 April 2024

and 31 March 2025

13,618

70,758

84,376

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 April 2024

and 31 March 2025

50

NET BOOK VALUE

At 31 March 2025

50

At 31 March 2024

50

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

15,675,623

Additions

94,825

Revaluations

603,444

At 31 March 2025

16,373,892

NET BOOK VALUE

At 31 March 2025

16,373,892

At 31 March 2024

15,675,623

The historical cost of the property investments is £14,730,602 with no accumulated depreciation. The property portfolio has been valued by the director Mr A J White who is not a professionally qualified valuer.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

603,444

Valuation in 2023

(868,532

)

Valuation in 2022

450,000

Valuation in 2020

1,458,378

Cost

14,730,602

16,373,892

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

27,132

21,894

Other debtors

812,337

-

Prepayments and accrued income

3,736

3,560

843,205

25,454

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

166,028

152,516

Trade creditors

708

356

Trade creditors -

Rents in advance

147,295

137,915

Corporation tax

138,282

103,051

VAT

16,629

18,694

Other creditors

125,223

Security deposits

17,351

Directors' current accounts

4,939

Accruals and deferred income

29,945

65,069

646,400

625,114

The bank loans and overdraft facility are secured on the assets of the company.

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans - 1-2 years

1,632,138

Bank loans - 2-5 years

457,549

Bank loans more 5 yr by instal

2,011,984

1,891,524

4,101,671

3,981,211

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

2,011,984

1,891,524

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

4,267,699

4,133,727

11.	PROVISIONS FOR LIABILITIES

2025

2024

£

Deferred tax

266,108

98,295

Deferred

tax

£

Balance at 1 April 2024

98,295

Charge to Income Statement during year

167,813

Balance at 31 March 2025

266,108

The deferred tax provision has been provided in connection with the potential tax due upon the revalued properties at 25%.

12.	RELATED PARTY DISCLOSURES

During the year, total dividends of £90,000 (2024 - £90,000) were paid to the directors .

A company in which Mr A J White is also a director.

Management charges of £10,000 (2024: £10,000) are included in the company's profit and loss account. During the year a loan of £102,000 was due to this company and shown in creditors. This has been repaid since the year end.

A company in which Mrs A Underhill is also a director.

Management charges of £10,000 (2024: £10,000) are included in the company's profit and loss account.

A company in which Mrs S Ling is also a director.

Management charges of £10,000 (2024: £10,000) are included in the company's profit and loss account.

A company in which Mr A J White and Mrs A Underhill are also directors.

Properties independently valued at £790,000 were sold to a company in which two of the directors were also directors. A loan was made during the year to this company of £844,337 which is repayable upon demand. £32,000 of this loan was repaid during the year with £812,337 included in debtors. A further £40,000 has been repaid since the year end to date.