Landfield Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10071635

LANDFIELD LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 May 2025

LANDFIELD LIMITED

FINANCIAL STATEMENTS

PERIOD FROM 1 APRIL 2024 TO 31 MAY 2025

CONTENTS	PAGE

Officers and Professional Advisers	1

Balance Sheet	2

Notes to the Financial Statements	4

LANDFIELD LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

THE BOARD OF DIRECTORS	Mr P Heitner
	Mr H Bondi

REGISTERED OFFICE	479 Holloway Road
	London
	N7 6LE

LANDFIELD LIMITED

BALANCE SHEET

31 May 2025

	31 May 25		31 Mar 24
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5	4,628,674	6,765,923
Investments	6	100	100
		-------------	-------------
		4,628,774	6,766,023

CURRENT ASSETS

Debtors	7	1,557,230	603,055
Cash at bank and in hand		50,994	2,650
		-------------	----------
		1,608,224	605,705

CREDITORS: amounts falling due within one year	8	( 4,039,543)		( 2,967,630)
		-------------		-------------
NET CURRENT LIABILITIES			( 2,431,319)		( 2,361,925)
			-------------		-------------
TOTAL ASSETS LESS CURRENT LIABILITIES			2,197,455		4,404,098

CREDITORS: amounts falling due after more than one year	9		( 2,052,988)		( 3,882,592)

PROVISIONS	–	( 107,000)
	-------------	-------------
NET ASSETS	144,467	414,506
	-------------	-------------

CAPITAL AND RESERVES

Called up share capital	100	100
Profit and loss account	144,367	414,406
	----------	----------
SHAREHOLDERS FUNDS	144,467	414,506
	----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.

For the period ending 31 May 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 financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

LANDFIELD LIMITED

BALANCE SHEET (continued)

31 May 2025

These financial statements were approved by the board of directors and authorised for issue on 9 October 2026 , and are signed on behalf of the board by:

Mr H Bondi

Director

Company registration number: 10071635

LANDFIELD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

PERIOD FROM 1 APRIL 2024 TO 31 MAY 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 479 Holloway Road, London, N7 6LE.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling (rounded to the nearest pound), which is the functional currency of the entity.

Going concern

Notwithstanding the company's deficiency in net current assets, the financial statements have been prepared in accordance with the accounting principle appropriate to a going concern, as the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due based on the support provided by the company's shareholders and ongoing availability of finance.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

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 amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The directors do not consider there are any critical judgements or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.

Turnover

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts.

Taxation

Tax on the profit or loss for the year comprises current and deferred tax. Tax is recognised in the profit and loss account except to the extent that it relates to items recognised directly in equity or other comprehensive income, in which case it is recognised directly in equity or other comprehensive income. Current tax is expected tax payable or receivable on the taxable income or loss for the year, using rates enacted or substantively enacted at the balance sheet date, and any adjustment to tax payable in respect of previous years. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Investment property

Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost. Subsequent to initial recognition - Investment properties are held at fair value. Any gains or losses arising from changes in the fair value are recognised in the profit and loss account in the period that they arise; and - No depreciation is provided in respect of investment properties applying the fair value model. Investment property fair value is determined by the directors based on their understanding of property market conditions and the specific property concerned, using a sales valuation approach, derived from recent comparable transactions on the market, adjusted by applying discounts to reflect status of occupation and condition. Acquisitions and disposals of properties Acquisitions and disposals are considered to have taken place at the date of legal completion and are included in the financial statements accordingly.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	20% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the period, including the directors, amounted to nil (2024: nil).

5. TANGIBLE ASSETS

	Freehold investment property	Fixtures and fittings	Total
	£	£	£
Fair value
At 1 April 2024	6,745,243	25,850	6,771,093
Additions	1,469,886	2,642	1,472,528
Disposals	( 3,679,602)	–	( 3,679,602)
Revaluations	76,473	–	76,473
	-------------	---------	-------------
At 31 May 2025	4,612,000	28,492	4,640,492
	-------------	---------	-------------
Depreciation
At 1 April 2024	–	5,170	5,170
Charge for the period	–	6,648	6,648
	-------------	---------	-------------
At 31 May 2025	–	11,818	11,818
	-------------	---------	-------------
Carrying amount
At 31 May 2025	4,612,000	16,674	4,628,674
	-------------	---------	-------------
At 31 March 2024	6,745,243	20,680	6,765,923
	-------------	---------	-------------

Investment property is included in the financial statements at directors' valuation. The historical cost of the investment property is £4,193,992. Investment property includes a property acquired during the period, for £320,000, from the directors of the company.

6. INVESTMENTS

	Shares in group undertakings
	£
Cost
At 1 April 2024 and 31 May 2025	100
	----
Impairment
At 1 April 2024 and 31 May 2025	–
	----

Carrying amount
At 31 May 2025	100
	----
At 31 March 2024	100
	----

7. DEBTORS

	31 May 25	31 Mar 24
	£	£
Trade debtors	54,112	22,473
Amounts owed by group undertakings	1,416,975	456,671
Other debtors	86,143	123,911
	-------------	----------
	1,557,230	603,055
	-------------	----------

Other debtors include £16,126 (2024: £5,535) due from companies with directors in common with this company.

8. CREDITORS: amounts falling due within one year

	31 May 25	31 Mar 24
	£	£
Bank loans and overdrafts	815,182	57,358
Trade creditors	284,396	361,535
Other creditors	2,939,965	2,548,737
	-------------	-------------
	4,039,543	2,967,630
	-------------	-------------

The bank loans are secured by a legal charge over the company's investment properties and a debenture. In addition, personal guarantees have been provided by the directors.

Other creditors include £2,277,460 (2024: £2,311,143) owed to the shareholders of the company and £201,392 (2024: £193,892) due to companies with directors in common with those of this company.

9. CREDITORS: amounts falling due after more than one year

	31 May 25	31 Mar 24
	£	£
Bank loans and overdrafts	2,052,988	3,882,592
	-------------	-------------

The bank loans are secured by legal charges over the company's investment property. In addition, personal guarantees have been provided by the directors.

10. PARENT COMPANY AND CONTROLLING PARTY

The company has no controlling party.