Landlubber Property Limited - Filleted accounts

Landlubber Property Limited
Registered number:		14016075
Statement of Financial Position
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	4		865,870			663,603

Current assets
Debtors	5	4,908			391
Cash at bank and in hand		12,355			6,166
		17,263			6,557

Creditors: amounts falling due within one year	6	(454,533)			(353,124)

Net current liabilities			(437,270)			(346,567)

Total assets less current liabilities			428,600			317,036

Creditors: amounts falling due after more than one year	7		(402,554)			(298,940)

Provisions for liabilities			(5,461)			(5,461)


Net assets			20,585			12,635

Capital and reserves
Called up share capital			4			4
Revaluation reserve	8		23,280			23,280
Profit and loss account			(2,699)			(10,649)

Shareholders' funds			20,585			12,635

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Sean Nee
Director
Approved by the board on 6 December 2025

Landlubber Property Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1a small entities, the financial reporting standard applicable in the UK and the Republic of Ireland.

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover consists of rental income which is recognised in the periods in which it is due provided that: - The amount of rent can be measured reliably; and - It is probable that the company will receive the rent due.

	Investments
	Investment properties are carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted for any difference in the nature, location or condition of the specific asset. Given the investment properties are carried at fair value, no depreciation is charged. Changes in fair value are recognised in the Statement of income.

	Creditors
	Short term creditors are measured at transaction price. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

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


2	Exceptional items	2025		2024
£			£

	Value adjustments on fixed assets and current asset investments	-		(28,741)
		-		(28,741)


3	Employees and directors	2025		2024
Number			Number

	Average number of directors and persons employed by the company	2		2


4	Tangible fixed assets
				Land and buildings
£
	Cost
	At 1 April 2024			663,603
	Additions			202,267
	At 31 March 2025			865,870

	Depreciation
	At 31 March 2025			-

	Net book value
	At 31 March 2025			865,870
	At 31 March 2024			663,603




5	Debtors	2025		2024
£			£

	Prepayments	4,908		391


6	Creditors: amounts falling due within one year	2025		2024
£			£

	Trade creditors	1,146		-
	Other creditors	453,387		353,124
		454,533		353,124


7	Creditors: amounts falling due after one year	2025		2024
£			£

	Bank loans	402,554		298,940


8	Revaluation reserve	2025		2024
£			£

	At 1 April 2024	23,280		-
	Gain on revaluation of land and buildings	-		28,741
	Deferred taxation arising on the revaluation of land and buildings	-		(5,461)

	At 31 March 2025	23,280		23,280



9	Other information

	Landlubber Property Limited is a private company limited by shares and incorporated in England. Its registered office is:
	7 Ottawa Drive
	Liphook
	Hampshire
	GU30 7TR