Landbased Limited - Filleted accounts

Registered number

04135761

Landbased Limited

Filleted Accounts

31 March 2025

Landbased Limited
Registered number:		04135761
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	4		1,406,777			1,414,273

Current assets
Stocks		360,111			349,853
Debtors	5	399,654			273,886
Cash at bank and in hand		85,473			88,263
		845,238			712,002

Creditors: amounts falling due within one year	6	(749,705)			(551,881)

Net current assets			95,533			160,121

Total assets less current liabilities			1,502,310			1,574,394


Provisions for liabilities			(20,756)			(20,756)


Net assets			1,481,554			1,553,638

Capital and reserves
Called up share capital			2			2
Profit and loss account			1,481,552			1,553,636

Shareholders' funds			1,481,554			1,553,638

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 and delivered 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.




Mr Jatin L Kanani
Director
Approved by the board on 10 December 2025

Landbased 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, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Long Leasehold land and buildings			in accordance with the property
	Plant and machinery			15% on reducing balance
	Fixtures, fittings, tools and equipment			15% on reducing balance
	Website development			33% on cost
	Computer equipment			33% on cost

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice 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.

	Deferred tax
	Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position 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.

	Goodwill
	Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill recognised at acquisition is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill amortisation is charged on a straight-line basis so as to write off the cost of the asset, less its residual value assumed to be zero, over its useful economic life. The company previously amortised goodwill over a life of 20 years, however in order to comply with the adoption of FRS 102 Section 1a, the company has changed the amortisation period to a life of within 10 years. Goodwill relates to the acquisition of business in 2002. The remaining amortisation period of goodwill was written-off during the year.







	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	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.

2	Employees					2025		2024
Number							Number

	Average number of persons employed by the company					15		15


3	Intangible fixed assets							£
	Goodwill:

	Cost
	At 1 April 2024							575,000
	At 31 March 2025							575,000

	Amortisation
	At 1 April 2024							575,000
	At 31 March 2025							575,000

	Net book value
	At 31 March 2025							-

	Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.










4	Tangible fixed assets
		Fixtures and fittings		Plant and machinery etc		Long Leasehold Property		Website Design & Development
£			£		£		£
	Cost
	At 1 April 2024	414,548		85,962		1,413,509		142,257
	Additions	-		-		-		30,975
	At 31 March 2025	414,548		85,962		1,413,509		1,914,019

	Depreciation
	At 1 April 2024	359,634		69,138		86,875		128,839
	Charge for the year	8,237		2,524		5,654		19,572
	At 31 March 2025	367,871		71,662		92,529		532,062

	Net book value
	At 31 March 2025	46,677		14,300		1,320,980		1,381,957
	At 31 March 2024	54,914		16,824		1,326,634		1,398,372

	Tangible fixed assets - Continued
		Computer						Total
£			£		£		£
	Cost
	At 1 April 2024	70,205						2,126,481
	Additions	-						30,975
	Surplus on revaluation	-						-
	Disposals	-						-
	At 31 March 2025	70,205		-		-		2,157,456

	Depreciation
	At 1 April 2024	67,722						712,208
	Charge for the year	2,484						38,471
	Surplus on revaluation	-						-
	On disposals	-						-
	At 31 March 2025	70,206		-		-		750,679

	Net book value
	At 31 March 2025	(1)		-		-		1,406,777
	At 31 March 2024	2,483		-		-		1,414,273

5	Controlling party

	The controlling party is Mr Jatin L Kanani.