Registration number:
Latner 10 Developments Ltd
for the Year Ended 31 March 2025
Latner 10 Developments Ltd
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Latner 10 Developments Ltd
Company Information
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Directors |
Mr Daniel Dixon Mr Vincent Rainey Mr Brian Smith |
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Registered office |
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Accountants |
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Latner 10 Developments Ltd
(Registration number: NI071128)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net assets |
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Capital and reserves |
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Called up share capital |
30 |
30 |
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Retained earnings |
586,635 |
788,205 |
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Shareholders' funds |
586,665 |
788,235 |
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:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Latner 10 Developments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in Northern Ireland.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Going concern
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Tax
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Latner 10 Developments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Latner 10 Developments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Stocks |
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2025 |
2024 |
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Work in progress |
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Debtors |
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Current |
Note |
2025 |
2024 |
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Amounts owed by related parties |
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Other debtors |
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Latner 10 Developments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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30 |
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30 |
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Loans and borrowings |
Current loans and borrowings
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2025 |
2024 |
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Bank overdrafts |
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Related party transactions |
Summary of transactions with all entities with joint control or significant interest
Latner 10 Developments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
Gaultstown Ten Ltd
GHS Holdings Limited
Ovalbridge Developments Limited
Platinum Assets NI Ltd
Gaultstown Ten Ltd is a shareholder in Latner 10 Developments and has a common director.
GHS Holdings is a shareholder in Latner 10 Developments and has a common director.
Ovalbridge Developments Limited is a shareholder in Latner 10 Developments Limited,and has common directors.
Platinum Assets NI Ltd is controled by 3 common directors.
During the year loans were entered into between Latner 10 Devleopments and Amulet DevelopmentsI Ltd. As at the balance sheet date Latner 10 Developemnts owed Amulet Developments £75, interest paid on this loan during the year amounted too £NIL
During the year loans were entered into between Latner 10 Devleopments and Gaultstown Ten Ltd. As at the balance sheet date Gaultstown Ten Ltd owed Latner 10 Developments £10,000 interest paid on this loan during the year amounted too £NIL
During the year loans were entered into between Latner 10 Devleopments and GHS Holdings Limited. As at the balance sheet date Latner 10 Developments owed GHS Holdings £277,478 interest paid on this loan during the year amounted too £NIL
During the year loans were entered into between Latner 10 Devleopments and Ovalbridge Developments Limited. As at the balance sheet date Ovalbridge Developments L:imited owed Latner 10 Developments £647,535 interest paid on this loan during the year amounted too £NIL
During the year loans were entered into between Latner 10 Devleopments and Platinum Assets NI Ltd. As at the balance sheet date Platinum Assets NI Ltd owed Latner 10 Developments £18,500 interest paid on this loan during the year amounted too £INL
Loans to related parties
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2025 |
Entities with joint control or significant influence |
Total |
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At start of period |
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At end of period |
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2024 |
Entities with joint control or significant influence |
Total |
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At start of period |
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At end of period |
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Terms of loans to related parties
Loans from related parties
Latner 10 Developments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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2025 |
Entities with joint control or significant influence |
Total |
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At start of period |
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Advanced |
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At end of period |
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2024 |
Entities with joint control or significant influence |
Total |
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At start of period |
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Repaid |
( |
( |
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At end of period |
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Terms of loans from related parties