Land-Drive Limited 08265373 false 2024-11-01 2025-10-31 2025-10-31 The principal activity of the company is the retail of agricultural supplies and machinery Digita Accounts Production Advanced 6.30.9574.0 true 08265373 2024-11-01 2025-10-31 08265373 2025-10-31 08265373 bus:Director1 1 2025-10-31 08265373 bus:Director2 1 2025-10-31 08265373 core:RetainedEarningsAccumulatedLosses 2025-10-31 08265373 core:ShareCapital 2025-10-31 08265373 core:CurrentFinancialInstruments 2025-10-31 08265373 core:CurrentFinancialInstruments core:WithinOneYear 2025-10-31 08265373 core:Non-currentFinancialInstruments 2025-10-31 08265373 core:Non-currentFinancialInstruments core:AfterOneYear 2025-10-31 08265373 core:Goodwill 2025-10-31 08265373 core:FurnitureFittingsToolsEquipment 2025-10-31 08265373 core:OtherPropertyPlantEquipment 2025-10-31 08265373 bus:SmallEntities 2024-11-01 2025-10-31 08265373 bus:AuditExemptWithAccountantsReport 2024-11-01 2025-10-31 08265373 bus:FilletedAccounts 2024-11-01 2025-10-31 08265373 bus:SmallCompaniesRegimeForAccounts 2024-11-01 2025-10-31 08265373 bus:RegisteredOffice 2024-11-01 2025-10-31 08265373 bus:Director1 2024-11-01 2025-10-31 08265373 bus:Director1 1 2024-11-01 2025-10-31 08265373 bus:Director2 2024-11-01 2025-10-31 08265373 bus:Director2 1 2024-11-01 2025-10-31 08265373 bus:PrivateLimitedCompanyLtd 2024-11-01 2025-10-31 08265373 bus:Agent1 2024-11-01 2025-10-31 08265373 core:Goodwill 2024-11-01 2025-10-31 08265373 core:FurnitureFittingsToolsEquipment 2024-11-01 2025-10-31 08265373 core:OfficeEquipment 2024-11-01 2025-10-31 08265373 core:OtherPropertyPlantEquipment 2024-11-01 2025-10-31 08265373 core:PlantMachinery 2024-11-01 2025-10-31 08265373 countries:EnglandWales 2024-11-01 2025-10-31 08265373 2024-10-31 08265373 bus:Director1 1 2024-10-31 08265373 bus:Director2 1 2024-10-31 08265373 core:Goodwill 2024-10-31 08265373 core:FurnitureFittingsToolsEquipment 2024-10-31 08265373 core:OtherPropertyPlantEquipment 2024-10-31 08265373 2023-11-01 2024-10-31 08265373 2024-10-31 08265373 bus:Director1 1 2024-10-31 08265373 bus:Director2 1 2024-10-31 08265373 core:RetainedEarningsAccumulatedLosses 2024-10-31 08265373 core:ShareCapital 2024-10-31 08265373 core:CurrentFinancialInstruments 2024-10-31 08265373 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-31 08265373 core:Non-currentFinancialInstruments 2024-10-31 08265373 core:Non-currentFinancialInstruments core:AfterOneYear 2024-10-31 08265373 core:Goodwill 2024-10-31 08265373 core:FurnitureFittingsToolsEquipment 2024-10-31 08265373 core:OtherPropertyPlantEquipment 2024-10-31 08265373 bus:Director1 1 2023-11-01 2024-10-31 08265373 bus:Director2 1 2023-11-01 2024-10-31 08265373 bus:Director1 1 2023-10-31 08265373 bus:Director2 1 2023-10-31 iso4217:GBP xbrli:pure

Registration number: 08265373

Land-Drive Limited
Unaudited Financial Statements
31 October 2025

Land-Drive Limited

Contents

Accountants' Report | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 4

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Land-Drive Limited
for the Year Ended 31 October 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Land-Drive Limited for the year ended 31 October 2025 as set out on pages 2 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Land-Drive Limited, as a body, in accordance with the terms of our engagement letter dated 28 November 2022. Our work has been undertaken solely to prepare for your approval the accounts of Land-Drive Limited and state those matters that we have agreed to state to the Board of Directors of Land-Drive Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Land-Drive Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Land-Drive Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Land-Drive Limited. You consider that Land-Drive Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Land-Drive Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

Dodd & Co Limited
Chartered Accountants
FIFTEEN Rosehill
Montgomery Way
Rosehill Estate
CARLISLE
CA1 2RW

21 April 2026

Land-Drive Limited

(Registration number: 08265373)
Balance Sheet as at 31 October 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 5 | 1,167 | 430
Current assets |  |  |
Debtors | 6 | 435,185 | 289,216
Creditors: Amounts falling due within one year | 7 | (340,848) | (298,758)
Net current assets/(liabilities) |  | 94,337 | (9,542)
Total assets less current liabilities |  | 95,504 | (9,112)
Creditors: Amounts falling due after more than one year | 7 | (75,754) | (49,681)
Provisions for liabilities |  | (281) | (98)
Net assets/(liabilities) |  | 19,469 | (58,891)
Capital and reserves |  |  |
Allotted, called up and fully paid share capital |  | 120 | 120
Profit and loss account |  | 19,349 | (59,011)
Total equity |  | 19,469 | (58,891)

Land-Drive Limited

(Registration number: 08265373)
Balance Sheet as at 31 October 2025 (continued)

For the financial year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 21 April 2026 and signed on its behalf by:

.........................................

M Mowbray

Director

.........................................

J Mowbray

Director

Land-Drive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
New Inn
Blencogo
WIGTON
CA7 0BZ

2 | 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

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.

Government grants
Grants relating to revenue are recognised in the profit and loss account on a systematic basis over the periods in which the related costs are recognised for which the grant is intended to compensate.
Grants for the purpose of giving immediate financial support with no future related costs to be incurred are recognised in the profit and loss account when the grant proceeds become receivable.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

Land-Drive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and equipment | 25% reducing balance
Furniture, fittings and office equipment | 3 years straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | 20% straight line

Trade debtors

Trade debtors are amounts due from customers for the sale of goods 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.

Land-Drive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors 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 where due after more than one year.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

Land-Drive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

4 | Intangible assets

| Goodwill £ | Total £
Cost or valuation
At 1 November 2024 | 60,000 | 60,000
At 31 October 2025 | 60,000 | 60,000
Amortisation
At 1 November 2024 | 60,000 | 60,000
At 31 October 2025 | 60,000 | 60,000
Carrying amount
At 31 October 2025 | - | -
At 31 October 2024 | - | -

5 | Tangible assets

| Plant and equipment £ | Furniture, fittings and office equipment £ | Total £
Cost or valuation
At 1 November 2024 | 11,938 | 1,680 | 13,618
Additions | - | 922 | 922
At 31 October 2025 | 11,938 | 2,602 | 14,540
Depreciation
At 1 November 2024 | 11,508 | 1,680 | 13,188
Charge for the year | 108 | 77 | 185
At 31 October 2025 | 11,616 | 1,757 | 13,373
Carrying amount
At 31 October 2025 | 322 | 845 | 1,167
At 31 October 2024 | 430 | - | 430

Land-Drive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

6 | Debtors

| 2025 £ | 2024 £
Trade debtors | 173,906 | 101,310
Other debtors | 261,279 | 187,906
| 435,185 | 289,216

7 | Creditors

| Note | 2025 £ | 2024 £
Due within one year |  |  |
Loans and borrowings | 8 | 23,989 | 77,677
Trade creditors |  | 236,559 | 135,796
Taxation and social security |  | 4,093 | 371
Corporation tax liability |  | 67,254 | 56,673
Other creditors |  | 8,953 | 28,241
|  | 340,848 | 298,758
Due after one year |  |  |
Loans and borrowings | 8 | 75,754 | 49,681

8 | Loans and borrowings

| 2025 £ | 2024 £
Current loans and borrowings
Bank borrowings | - | 6,540
Bank overdrafts | 530 | 49,279
Other borrowings | 23,459 | 21,858
| 23,989 | 77,677

| 2025 £ | 2024 £
Non-current loans and borrowings
Other borrowings | 75,754 | 49,681

Land-Drive Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

9 | Related party transactions

Transactions with directors

2025 | At 1 November 2024 £ | Advances £ | Repayments £ | Other payments £ | Dividends credited £ | Interest £ | At 31 October 2025 £
J Mowbray
Loan | 83,266 | 56,294 | (26,292) | - | (9,000) | 2,858 | 107,126
M Mowbray
Loan | 83,265 | 56,294 | (26,291) | - | (9,000) | 2,858 | 107,126

2024 | At 1 November 2023 £ | Advances £ | Repayments £ | Other payments £ | Dividends credited £ | Interest £ | At 31 October 2024 £
J Mowbray
Loan | 62,243 | 67,957 | (23,689) | - | (25,000) | 1,755 | 83,266
M Mowbray
Loan | 62,242 | 67,958 | (23,689) | - | (25,000) | 1,754 | 83,265

Directors' advances are repayable on demand.
Interest has been charged at a rate of 2.25% on advances to directors to March 2025 then at a rate of 3.75% from April 2025.