REGISTERED NUMBER: 01959385 (England and Wales)

LANDFAST LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTOR:

Mr P A Curry

REGISTERED OFFICE:

Town Wall House

Balkerne Hill

Colchester

Essex

CO3 3AD

REGISTERED NUMBER:

01959385 (England and Wales)

FIXED ASSETS

Tangible assets

4

588

768

Investments

5

42,199

42,199

Investment property

6

5,040,000

4,692,291

5,082,787

4,735,258

CURRENT ASSETS

Stocks

7

1,500

6,500

Debtors

8

109,590

19,200

Investments

9

260,674

200,230

Cash at bank

454,383

270,369

826,147

496,299

CREDITORS

Amounts falling due within one year

10

(3,944,386

)

(3,705,477

)

NET CURRENT LIABILITIES

(3,118,239

)

(3,209,178

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,964,548

1,526,080

PROVISIONS FOR LIABILITIES

(277,643

)

(186,897

)

NET ASSETS

1,686,905

1,339,183

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

976,789

677,144

Retained earnings

710,016

661,939

SHAREHOLDERS' FUNDS

1,686,905

1,339,183

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 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 5 November 2025 and were signed by:

Mr P A Curry - Director

1.	STATUTORY INFORMATION

Landfast 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 (£) and values are rounded to the nearest Pound (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102.

Consolidation

In the opinion of the directors, the company and its subsidiary undertaking comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

Turnover

Turnover represents the sale of properties and value of work done on contract works carried out 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.

Computer equipment - 20% on cost

Fixed asset investments

Fixed asset investments are carried at cost less any impairment losses.

Investment property

Investment properties are shown at their open market value. The surplus or deficit arising from the annual revaluation is transferred to the fair value reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the income statement for the year.

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.

Unlisted investments

Unlisted investments are carried at open market value when an open market value is available. If no open market value is available, they are carried at cost less any impairment losses. The surplus or deficit arising from the annual revaluation is transferred to the fair value reserve unless a deficit, or its reversal, on an individual investment is expected to be permanent, in which case it is recognised in the income statement for the year.

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.

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.

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Financial instruments

Basic financial instruments are recognised at amortised cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2024

and 31 March 2025

904

DEPRECIATION

At 1 April 2024

136

Charge for year

180

At 31 March 2025

316

NET BOOK VALUE

At 31 March 2025

588

At 31 March 2024

768

5.	FIXED ASSET INVESTMENTS

Interest

Interest

in

Other

in

subsidiary

assets

associate

undertakings

Totals

£

£

£

£

COST

At 1 April 2024

and 31 March 2025

41,659

50

490

42,199

NET BOOK VALUE

At 31 March 2025

41,659

50

490

42,199

At 31 March 2024

41,659

50

490

42,199

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

4,692,291

Revaluations

347,709

At 31 March 2025

5,040,000

NET BOOK VALUE

At 31 March 2025

5,040,000

At 31 March 2024

4,692,291

The properties were valued by the Director at open market value at the Year End. The original cost of the properties is at the end of the accounting period is £3,854,183 (2024: £3,854,183).

7.

STOCKS

2025

2024

£

£

Land for development

1,500

6,500

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

60,315

1,957

Tax

20,356

-

Prepayments and accrued income

28,919

17,243

109,590

19,200

9.	CURRENT ASSET INVESTMENTS

2025

2024

£

£

Unlisted investments

260,674

200,230

There were additions in the year of £14,364 (2024: £70,412), disposals of £Nil (2024: £41,464), realised gains of £Nil (2024: £6,780) and a revaluation increase of £46,079 (2024: 8,483). The investments are held at market value at the year end, the cost of the investments was £233,864.

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Loans

3,500,000

3,300,000

Trade creditors

1,006

486

Amounts due to related undertaking

50

50

Amounts due to subsidiary undertaking

21,048

21,048

Corporation tax

49,564

13,857

Other tax and social security

13

-

Other creditors

330,114

333,780

Directors' current accounts

13,948

17,218

Accruals and deferred income

28,643

19,038

3,944,386

3,705,477

11.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Loans

3,500,000

3,300,000

A fixed charge dated 23 December 2014 is in place over the properties held in Investment Property in favour of Breydon Limited. The loan is repayable on demand upon 6 months notice from the lender with interest charged at 1% per annum.

A fixed charge dated 8 August 2016 is in place over the properties held in Investment Property in favour of Clarence Holdings Limited. The loan is repayable on demand upon 6 months notice from the lender with interest charged at 1% per annum.

A fixed charge dated 28 March 2025 is in place over the properties held in Investment Property in favour of Clarence Holdings Limited. The loan is repayable on demand upon 6 months notice from the lender with interest charged at Barclays Bank PLC base rate plus 2.5%, per annum.