Company Registration No. 02270482 (England and Wales)
LANDBOND PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
Sobell Rhodes LLP
The Kinetic Centre
Theobald Street
Elstree
Borehamwood
Hertfordshire
WD6 4PJ
LANDBOND PROPERTIES LIMITED
CONTENTS
- 1 -
Page
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
LANDBOND PROPERTIES LIMITED
BALANCE SHEET
AS AT 31 MAY 2025
31 May 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,204
1,416
Investment property
5
5,107,200
5,114,000
5,108,404
5,115,416
Current assets
Debtors
6
21,576
16,653
Cash at bank and in hand
549,703
517,645
571,279
534,298
Creditors: amounts falling due within one year
7
(88,096)
(106,168)
Net current assets
483,183
428,130
Total assets less current liabilities
5,591,587
5,543,546
Creditors: amounts falling due after more than one year
8
(1,550,000)
(1,550,000)
Provisions for liabilities
(623,044)
(570,191)
Net assets
3,418,543
3,423,355
Capital and reserves
Called up share capital
10
102
100
Other reserves
2,250,247
2,071,978
Profit and loss reserves
1,168,194
1,351,277
Total equity
3,418,543
3,423,355

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 May 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

LANDBOND PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2025
31 May 2025
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 11 October 2025 and are signed on its behalf by:
Mrs S Smith
Director
Company registration number 02270482 (England and Wales)
LANDBOND PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 4 -
1
Accounting policies
Company information

Landbond Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/o Sobell Rhodes LLP, Kinetic Business Centre, Theobald Street, Elstree, Hertfordshire, United Kingdom, WD6 4PJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of rent receivable.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Office equipment and fittings
15% on written down value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Loan and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

1.6
Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists when the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit.

LANDBOND PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 5 -
1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event and, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

LANDBOND PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 6 -
2
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 amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
3
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2024 and 31 May 2025
12,448
Depreciation and impairment
At 1 June 2024
11,032
Depreciation charged in the year
212
At 31 May 2025
11,244
Carrying amount
At 31 May 2025
1,204
At 31 May 2024
1,416
5
Investment property
2025
£
Fair value
At 1 June 2024
as restated
5,114,000
Disposals
(250,000)
Revaluations
243,200
At 31 May 2025
5,107,200
LANDBOND PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
5
Investment property
(Continued)
- 7 -

The fair value of the investment properties at the year end was based on a valuation carried out by the directors on an open market basis. No depreciation has been provided on these properties.

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
-
0
500
Other debtors
21,576
16,153
21,576
16,653
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
10,087
317
Taxation and social security
4,724
20,221
Other creditors
73,285
85,630
88,096
106,168
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
1,550,000
1,550,000

Bank loans are secured by a legal charge on the investment properties and a mortgage debenture incorporating a fixed and floating charge over all the company's assets.

9
Loans and overdrafts
2025
2024
£
£
Bank loans
1,550,000
1,550,000
Payable after one year
1,550,000
1,550,000

Bank loans are secured by a legal charge on the company's stock of properties and a mortgage debenture incorporating a fixed and floating charge over all the company's assets.

LANDBOND PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 8 -
10
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares A of £1 each
50
100
50
100
Ordinary shares B of £1 each
25
0
25
-
0
Ordinary shares C of £1 each
25
0
25
-
0
Ordinary shares E of £1 each
1
0
1
-
0
Ordinary shares F of £1 each
1
0
1
-
0
102
100
102
100
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