REGISTERED NUMBER: 01999036 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

LIMPSFIELD PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M B May

L Ewens

A J May

SECRETARY:

M B May

REGISTERED OFFICE:

1 High Street

Guildford

Surrey

GU2 4HP

REGISTERED NUMBER:

01999036 (England and Wales)

ACCOUNTANTS:

WHITTINGTONS

Chartered Accountants

1 High Street

Guildford

Surrey

GU2 4HP

FIXED ASSETS

Tangible assets

4

267,983

475,088

CURRENT ASSETS

Cash at bank

198,643

8,999

CREDITORS

Amounts falling due within one year

5

18,904

9,907

NET CURRENT ASSETS/(LIABILITIES)

179,739

(908

)

TOTAL ASSETS LESS CURRENT LIABILITIES

447,722

474,180

PROVISIONS FOR LIABILITIES

6

20,157

26,597

NET ASSETS

427,565

447,583

CAPITAL AND RESERVES

Called up share capital

200

200

Revaluation reserve

7

90,953

173,849

Retained earnings

336,412

273,534

SHAREHOLDERS' FUNDS

427,565

447,583

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 November 2025 and were signed on its behalf by:

M B May - Director

1.	STATUTORY INFORMATION

LIMPSFIELD PROPERTIES LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Long leasehold

-

not provided

Plant and machinery

-

25% on reducing balance

Computer equipment

-

25% on cost

The company's leasehold properties have been accounted for as investment properties. Accordingly they have been revalued at open market value and the surplus transferred to revaluation reserve. In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008), no depreciation is provided in respect of the properties. This constitutes a departure from the statutory rules requiring fixed assets to be depreciated over their useful economic lives and is necessary to show a true and fair view. Depreciation is only one of the many factors reflected in the revaluation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST OR VALUATION

At 1 April 2024

475,000

9,312

550

2,181

487,043

Additions

-

-

-

550

550

Disposals

(207,496

)

-

-

-

(207,496

)

At 31 March 2025

267,504

9,312

550

2,731

280,097

DEPRECIATION

At 1 April 2024

-

9,255

519

2,181

11,955

Charge for year

-

14

8

137

159

At 31 March 2025

-

9,269

527

2,318

12,114

NET BOOK VALUE

At 31 March 2025

267,504

43

23

413

267,983

At 31 March 2024

475,000

57

31

-

475,088

Cost or valuation at 31 March 2025 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

2010

Valuation in 2011

(5,576

)

-

(5,576

)

Valuation in 2013

15,000

-

15,000

Valuation in 2014

30,000

-

30,000

Valuation in 2015

50,000

-

50,000

Valuation in 2016

75,000

-

75,000

Valuation in 2025

(207,496

)

-

(207,496

)

Cost

285,235

12,593

297,828

267,504

12,593

280,097

If leasehold property had not been revalued it would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

285,235

285,235

Leasehold properties were valued on an open market basis on 31 March 2013 by the directors .

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Taxation and social security

10,591

2,665

Other creditors

8,313

7,242

18,904

9,907

6.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

Accelerated capital allowances

-

(9,516

)

Deferred tax

20,157

36,113

20,157

26,597

Deferred

tax

£

Balance at 1 April 2024

26,597

Provided during year

(6,440

)

Balance at 31 March 2025

20,157

7.

RESERVES

Revaluation

reserve

£

At 1 April 2024

173,849

Property revaluation

(82,896

)

At 31 March 2025

90,953

8.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M B May.