Company registration number 06659337 (England and Wales)
LANSDOWNE WEST LIMITED
Financial Statements
for the Year Ended 31 December 2024
LANSDOWNE WEST LIMITED
Contents
Page
Company information
1
Balance sheet
2
Notes to the financial statements
3 - 7
LANSDOWNE WEST LIMITED
Company Information
- 1 -
Directors
Mr E Mills
Mr S D Mills
Company number
06659337
Registered office
The Old Fire Station
Tremont Road
Llandrindod Wells
LD1 5EB
Auditor
RCH Accountants Limited
Wellfield House
Temple Street
Llandrindod Wells
Powys
LD1 5HG
LANSDOWNE WEST LIMITED
Balance Sheet
As at 31 December 2024
31 December 2024
- 2 -
2024
2023
as restated
Notes
£
£
£
£
Fixed assets
Investment property
4
1,550,000
1,550,000
Current assets
Debtors
5
301
-
0
Creditors: amounts falling due within one year
6
(67,564)
(67,301)
Net current liabilities
(67,263)
(67,301)
Total assets less current liabilities
1,482,737
1,482,699
Provisions for liabilities
(5,877)
-
0
Net assets
1,476,860
1,482,699
Capital and reserves
Called up share capital
1,000
1,000
Share premium account
1,388,766
1,388,766
Profit and loss reserves
87,094
92,933
Total equity
1,476,860
1,482,699

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 7 April 2026 and are signed on its behalf by:
Mr E Mills
Director
Company registration number 06659337 (England and Wales)
LANSDOWNE WEST LIMITED
Notes to the Financial Statements
For the Year Ended 31 December 2024
- 3 -
1
Accounting policies
Company information

Lansdowne West Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old Fire Station, Tremont Road, Llandrindod Wells, LD1 5EB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 26 ‘Share based Payment’: Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payments, explanation of modifications to arrangements;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Spa Motors (Mid Wales) Limited. These consolidated financial statements are available from its registered office, The Old Fire Station, Tremont Road, Llandrindod Wells, LD1 5EB.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover represents the amount derived from the letting of industrial property wholly owned by the company and is assessed by determining rental income due for the appropriate period of account.

The company recognises Turnover when the amount of Turnover can be measured reliably and when it is probable that economic benefits will flow to the entity.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

LANSDOWNE WEST LIMITED
Notes to the Financial Statements
For the Year Ended 31 December 2024
1
Accounting policies
- 4 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

LANSDOWNE WEST LIMITED
Notes to the Financial Statements
For the Year Ended 31 December 2024
1
Accounting policies
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Leases
As lessor

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
0
0
LANSDOWNE WEST LIMITED
Notes to the Financial Statements
For the Year Ended 31 December 2024
- 6 -
4
Investment property
2024
£
Fair value
At 1 January 2024 and 31 December 2024
1,550,000

Investment property comprises 120 Eign Street, Hereford, HR4 9BH. The fair value of the investment property has been arrived at on the basis of a valuation carried out at 27 April 2023 by Colliers Chartered Surveyors, who are not connected with the company. The valuation was made on an open market value basis.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
301
-
0
6
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
67,564
46,645
Taxation and social security
-
0
18,886
Other creditors
-
0
1,770
67,564
67,301
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
M L Barnes FCA FCCA
Statutory Auditor:
RCH Accountants Limited
Date of audit report:
7 April 2026
8
Prior period adjustment
LANSDOWNE WEST LIMITED
Notes to the Financial Statements
For the Year Ended 31 December 2024
8
Prior period adjustment
- 7 -
Reconciliation of changes in equity
1 January
31 December
2023
2023
£
£
Adjustments to prior year
Reduce investment property fair valuation
-
(100,000)
Equity as previously reported
1,626,156
1,582,699
Equity as adjusted
1,626,156
1,482,699
Analysis of the effect upon equity
Profit and loss reserves
-
(100,000)
Reconciliation of changes in loss for the previous financial period
2023
£
Adjustments to prior year
Reduce investment property fair valuation
(100,000)
Loss as previously reported
(43,457)
Loss as adjusted
(143,457)
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