Company registration number 03290072 (England and Wales)
LANDENE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 JUNE 2025
PAGES FOR FILING WITH REGISTRAR
LANDENE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LANDENE LIMITED
BALANCE SHEET
AS AT 24 JUNE 2025
24 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
6,117
8,327
Investment properties
6
5,795,800
5,876,704
5,801,917
5,885,031
Current assets
Debtors
7
1,184,388
515,252
Cash at bank and in hand
130
1,499
1,184,518
516,751
Creditors: amounts falling due within one year
8
(1,177,811)
(890,035)
Net current assets/(liabilities)
6,707
(373,284)
Total assets less current liabilities
5,808,624
5,511,747
Creditors: amounts falling due after more than one year
9
(3,592,397)
(2,938,697)
Provisions for liabilities
(412,630)
(448,432)
Net assets
1,803,597
2,124,618
Capital and reserves
Called up share capital
3,012,000
3,012,000
Revaluation reserve
2,481,977
2,588,741
Profit and loss reserves
(3,690,380)
(3,476,123)
Total equity
1,803,597
2,124,618

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

For the financial year ended 24 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 22 June 2026
D A Hurlock
Director
Company Registration No. 03290072
LANDENE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 24 JUNE 2025
- 2 -
1
Accounting policies
Company information

Landene Limited is a private company limited by shares incorporated in England and Wales. The registered office is Wellesley House, Duke of Wellington Avenue, Royal Arsenal, London, SE18 6SS.

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.

1.2
Turnover

Turnover represents rental income from investment properties, which is recognised on an accruals basis, with any outstanding rental income at the year end included within trade debtors. Any rent received which relates to future periods is included as deferred income.

Turnover from sale of properties is recognised on completion of sale.

Turnover also includes the value of services and work done on properties not owned by the company.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer equipment
33% straight line basis
Motor vehicles
25% reducing balance basis

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

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 the profit and loss account.

1.5
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.

1.6
Taxation

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

LANDENE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 JUNE 2025
1
Accounting policies
(Continued)
- 3 -
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.

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.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is 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.

LANDENE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 JUNE 2025
- 4 -
3
Employees

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

2025
2024
Number
Number
Total
5
3
4
Unrealised (losses)/gains on investment properties
2025
2024
£
£
Fair value (losses)/gains
Changes in the fair value of investment properties
(142,566)
444,528
5
Tangible fixed assets
Computer equipment
Motor vehicles
Total
£
£
£
Cost
At 25 June 2024 and 24 June 2025
768
21,983
22,751
Depreciation and impairment
At 25 June 2024
256
14,168
14,424
Depreciation charged in the year
256
1,954
2,210
At 24 June 2025
512
16,122
16,634
Carrying amount
At 24 June 2025
256
5,861
6,117
At 24 June 2024
512
7,815
8,327
6
Investment property
2025
£
Fair value
At 25 June 2024
5,876,730
Additions
61,636
Revaluations
(142,566)
At 24 June 2025
5,795,800

Investment property comprises commercial and residential properties. The fair value of the investment property has been arrived at on the basis of valuation s carried out during the year by professional valuers and the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The historical cost of the properties totalled £2,901,193 (2024 £2,839,531).

LANDENE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 24 JUNE 2025
- 5 -
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
7,170
15,679
Other debtors
1,177,218
499,573
1,184,388
515,252
8
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
11,034
158,246
Trade creditors
150,808
172,859
Taxation and social security
90,620
36,925
Other creditors
925,349
522,005
1,177,811
890,035
9
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
3,592,397
2,935,459
Other creditors
-
0
3,238
3,592,397
2,938,697

The bank loans are secured over the property portfolio of the company and bears fixed interest rate at 8.07% for 60 months and floating rate of 4.5% plus the bank's base rate after 60 months.

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