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Company No: 14974239 (England and Wales)

# LANDRA DEVELOPMENTS LIMITED

### UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH THE REGISTRAR

LANDRA DEVELOPMENTS LIMITED

## UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

Contents

LANDRA DEVELOPMENTS LIMITED

## COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
LANDRA DEVELOPMENTS LIMITED

## COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

DIRECTORS | Mr A L Barton
| Mr P J Dixon
| Mr L C Hollick
| Mr P D Rawle

REGISTERED OFFICE | 4 Elm Place Old Witney Road
| Eynsham
| Witney
| OX29 4BD
| United Kingdom

COMPANY NUMBER | 14974239 (England and Wales)

ACCOUNTANT | Shaw Gibbs Limited
| 264 Banbury Road
| Oxford
| OX2 7DY
| United Kingdom

LANDRA DEVELOPMENTS LIMITED

## BALANCE SHEET

AS AT 31 MARCH 2025
LANDRA DEVELOPMENTS LIMITED

## BALANCE SHEET (continued)

AS AT 31 MARCH 2025

| Note | 31.03.2025 |  | 31.03.2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 44,845 |  | 39,111
|  | 44,845 |  | 39,111
Current assets |  |  |  |
Stocks | 4 | 532,158 |  | 110,301
Debtors | 5 | 33,439 |  | 12,014
Cash at bank and in hand |  | 49,220 |  | 6,877
|  | 614,817 |  | 129,192
Creditors: amounts falling due within one year | 6 | ( 47,411) |  | ( 56,055)
Net current assets |  | 567,406 |  | 73,137
Total assets less current liabilities |  | 612,251 |  | 112,248
Creditors: amounts falling due after more than one year | 7 | ( 1,260,000) |  | ( 330,000)
Net liabilities |  | ( 647,749) |  | ( 217,752)
Capital and reserves |  |  |  |
Called-up share capital | 8 | 100 |  | 100
Profit and loss account |  | ( 647,849 ) |  | ( 217,852 )
Total shareholders' deficit |  | ( 647,749) |  | ( 217,752)

For the financial year ending 31 March 2025 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 financial year in accordance with section 476;
- 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; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Landra Developments Limited (registered number: 14974239) were approved and authorised for issue by the Board of Directors on 15 October 2025. They were signed on its behalf by:

Mr P D Rawle Director |

LANDRA DEVELOPMENTS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025
LANDRA DEVELOPMENTS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

##### General information and basis of accounting

Landra Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 4 Elm Place Old Witney Road, Eynsham, Witney, OX29 4BD, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Reporting period length

In the prior period the Company had changed its accounting reference date from 31 July to 31 March, to align with related parties. The financial statements in the prior period covered the 9 month period from incorporation on 3 July 2023 to 31 March 2024, whereas the current period covers the 12 month period of 1 May 2024 to 31 March 2025. Therefore the two periods are not entirely comparable due to the difference in period length.

##### Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Taxation

Current tax
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.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements | 3 years straight line
Fixtures and fittings | 4 years straight line
Computer equipment | 4 years straight line

Depreciation methods, useful lives and residual values are reviewed at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The directors are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The directors consider that the individual carrying values of assets are supportable by their value in use.
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.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### 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 creditors: amounts falling due within one year.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

##### Work in Progress

Work in Progress (WIP) represents land and property development costs incurred on projects that are intended for sale in the ordinary course of business. WIP is classified as inventory in accordance with FRS 102 Section 13. It includes undeveloped land, land under development, construction in progress and partially completed units that have not yet reached the point of sale.
WIP is recognised when the company obtains control of the land or development rights and begins incurring costs with the intention of sale. Each development project is accounted for separately to ensure accurate cost allocation and reliable measurement of profitability.
WIP is initially measured at cost. Cost comprises the purchase price of land (net of recoverable taxes), directly attributable development expenses such as construction materials, labour, subcontractor fees, architectural and professional services, planning and legal fees, installation of utilities and infrastructure, and other project-specific direct overheads. Overheads are allocated on a systematic and reasonable basis. General administrative expenses are expensed as incurred unless directly related to a specific project.
Subsequently, WIP is measured at the lower of cost and net realisable value (NRV). NRV is the estimated selling price in the ordinary course of business less estimated costs to complete and sell the units. At each reporting date, the carrying value of WIP is reviewed for indicators of impairment or decline in NRV. Any write-down is recognised in profit or loss. Reversals are permitted up to the original cost.
Revenue is recognised when control of the completed unit transfers to the buyer, typically on legal completion.

#### 2. Employees

| Year ended 31.03.2025 |  | Period from 03.07.2023 to 31.03.2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 2 |  | 2

#### 3. Tangible assets

| Leasehold improve- ments |  | Fixtures and fittings |  | Computer equipment |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 April 2024 | 29,646 |  | 5,822 |  | 11,936 |  | 47,404
Additions | 32,740 |  | 2,682 |  | 3,331 |  | 38,753
Disposals | ( 29,646) |  | 0 |  | 0 |  | ( 29,646)
At 31 March 2025 | 32,740 |  | 8,504 |  | 15,267 |  | 56,511
Accumulated depreciation |  |  |  |  |  |  |
At 01 April 2024 | 5,966 |  | 848 |  | 1,479 |  | 8,293
Charge for the financial year | 9,168 |  | 1,781 |  | 3,466 |  | 14,415
Disposals | ( 11,042) |  | 0 |  | 0 |  | ( 11,042)
At 31 March 2025 | 4,092 |  | 2,629 |  | 4,945 |  | 11,666
Net book value |  |  |  |  |  |  |
At 31 March 2025 | 28,648 |  | 5,875 |  | 10,322 |  | 44,845
At 31 March 2024 | 23,680 |  | 4,974 |  | 10,457 |  | 39,111

#### 4. Stocks

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Work in progress | 532,158 |  | 110,301

#### 5. Debtors

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Prepayments | 375 |  | 3,900
VAT recoverable | 32,321 |  | 8,014
Other debtors | 743 |  | 100
| 33,439 |  | 12,014

#### 6. Creditors: amounts falling due within one year

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Trade creditors | 25,132 |  | 37,298
Accruals | 3,311 |  | 6,840
Deferred tax liability | 10,258 |  | 0
Other taxation and social security | 8,710 |  | 9,400
Other creditors | 0 |  | 2,517
| 47,411 |  | 56,055

#### 7. Creditors: amounts falling due after more than one year

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Amounts owed to related parties | 1,260,000 |  | 330,000

There are no amounts included above in respect of which any security has been given by the small entity.

#### 8. Called-up share capital

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 1.00 each | 100 |  | 100

#### 9. Financial commitments

Other financial commitments

| 31.03.2025 |  | 31.03.2024
| £ |  | £
Lease commitment <1 year | 460 |  | 22,500

At the reporting end date, the company had the above outstanding commitments for future minimum lease
payments under non-cancellable operating leases.

#### 10. Related party transactions

During the period, the company received £930,000 (2024: £330,000) from a company whose ultimate controlling party is a director of Landra Developments Ltd. The total amount of £1,260,000 (2024: £330,000) remained outstanding at the reporting date, and so is included in other creditors payable in more than one year. The balance is unsecured and interest free.
Included in other creditors is £Nil (2024: 264) owed to a director, and £Nil (2024: £223) owed to a shareholder. These amounts are unsecured and interest free with no fixed repayment terms.
Included in trade creditors is £2,130 (2024: £Nil) owed to a company under common control.