Landmark Developments (Oakford Hse) Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 05246864 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 March 2022

for

LANDMARK DEVELOPMENTS (OAKFORD HOUSE)

LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

M P Favager

REGISTERED OFFICE:

Penthouse 1, Charters

43 Upper Oldfield Park

Bath

BA2 3LB

REGISTERED NUMBER:

05246864 (England and Wales)

ACCOUNTANTS:

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Landmark Developments (Oakford House) Limited for the year ended 28 March 2022 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Landmark Developments (Oakford House) Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Landmark Developments (Oakford House) Limited and state those matters that we have agreed to state to the director of Landmark Developments (Oakford House) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Landmark Developments (Oakford House) Limited and its director for our work or for this report.

It is your duty to ensure that Landmark Developments (Oakford House) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Landmark Developments (Oakford House) Limited. You consider that Landmark Developments (Oakford House) 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 financial statements of Landmark Developments (Oakford House) 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 financial statements.

Richardson Swift

Chartered Accountants

11 Laura Place

Bath

BA2 4BL

23 March 2023

FIXED ASSETS

Tangible assets

4

1,500

2,001

CURRENT ASSETS

Stocks

4,158,851

4,158,851

Debtors

5

2,946

30,665

Cash at bank

42,942

12,212

4,204,739

4,201,728

CREDITORS

Amounts falling due within one year

6

3,422,028

3,476,609

NET CURRENT ASSETS

782,711

725,119

TOTAL ASSETS LESS CURRENT LIABILITIES

784,211

727,120

PROVISIONS FOR LIABILITIES

7

201

380

NET ASSETS

784,010

726,740

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

783,910

726,640

SHAREHOLDERS' FUNDS

784,010

726,740

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 director and authorised for issue on 23 March 2023 and were signed by:

M P Favager - Director

1.	STATUTORY INFORMATION

Landmark Developments (Oakford House) 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.

Turnover

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

Turnover is recognised on the legal transfer of possession of the property to the purchaser.

Rental income is recognised in the period it relates to.

Tangible fixed assets

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

Office Equipment

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss accounts on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Office

and

Equipment

fittings

Totals

£

£

£

COST

At 29 March 2021

and 28 March 2022

309

3,719

4,028

DEPRECIATION

At 29 March 2021

254

1,773

2,027

Charge for year

14

487

501

At 28 March 2022

268

2,260

2,528

NET BOOK VALUE

At 28 March 2022

41

1,459

1,500

At 28 March 2021

55

1,946

2,001

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

2,946

30,665

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

34,605

12,982

Taxation and social security

31,655

32,828

Other creditors

3,355,768

3,430,799

3,422,028

3,476,609

7.	PROVISIONS FOR LIABILITIES

2022

2021

£

£

Deferred tax

201

380

Deferred

tax

£

Balance at 29 March 2021

380

Accelerated capital allowances

(179

)

Balance at 28 March 2022

201

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

£1

100

100

Each ordinary share carries the right to one vote to be exercised in accordance with the articles of association. Each ordinary share carries rights to participate in all approved dividend distributions and any capital distributions on winding up.

9.	CONTINGENT LIABILITIES

The company is due to incur additional building works to restore the premises to a commercial standard that is required by new and existing occupants.To date the cost of the work remains uncertain, and therefore a provision has not been recorded in the accounts.

10.	CRITICAL ACCOUNTING ESTIMATES AND UNCERTAINTY

The development costs included within stock have been allocated to each apartment plot based upon total square foot.

No other significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.