| LANDFORD HOLDINGS LIMITED |
| Registered number: |
12346683 |
| Balance Sheet |
| as at 31 December 2022 |
|
| Notes |
|
|
2022 |
|
|
2021 |
| £ |
£ |
| Fixed assets |
| Investments |
3 |
|
|
6,026,004 |
|
|
3,401,404 |
|
| Current assets |
| Cash at bank and in hand |
|
|
13,340 |
|
|
109,858 |
|
| Creditors: amounts falling due within one year |
4 |
|
(1,573,310) |
|
|
(1,040,413) |
|
| Net current liabilities |
|
|
|
(1,559,970) |
|
|
(930,555) |
|
| Total assets less current liabilities |
|
|
|
4,466,034 |
|
|
2,470,849 |
|
| Creditors: amounts falling due after more than one year |
5 |
|
|
(4,403,389) |
|
|
(2,483,709) |
|
| Provisions for liabilities |
|
|
|
(6,877) |
|
|
(2,050) |
|
|
| Net assets/(liabilities) |
|
|
|
55,768 |
|
|
(14,910) |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
4 |
|
|
4 |
| Revaluation reserve |
6 |
|
|
29,316 |
|
|
8,740 |
| Profit and loss account |
|
|
|
26,448 |
|
|
(23,654) |
|
| Shareholders' funds |
|
|
|
55,768 |
|
|
(14,910) |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| Manish Somani |
| Director |
| Approved by the board on 23 May 2023 |
|
| LANDFORD HOLDINGS LIMITED |
| Notes to the Accounts |
| for the year ended 31 December 2022 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration receivable. Turnover consists of rent receivable from Investment properties during the year. |
|
|
Investments |
|
Investments consist of Investment Properties and are revalued at the year end by the company's Directors based on market values. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
| 2 |
Employees |
2022 |
|
2021 |
| Number |
Number |
|
|
Average number of persons employed by the company |
2 |
|
2 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Investments |
| Investments in |
| subsidiary |
Other |
| undertakings |
investments |
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 January 2022 |
1,004 |
|
3,400,400 |
|
3,401,404 |
|
Additions |
- |
|
2,599,199 |
|
2,599,199 |
|
Revaluation |
- |
|
25,401 |
|
25,401 |
|
|
At 31 December 2022 |
1,004 |
|
6,025,000 |
|
6,026,004 |
|
|
|
The investments in subsidiary undertakings relate to the investments in KLM Property Limited and Mannings (UK) Limited . Both companies are incorporated in the UK and are 100% owned by Landford Holdings Limited |
|
|
The Company has taken advantage of the exemption under section 405 of Companies Act 2006, not to prepare Consolidated Accounts, as the group qualifies as a small group. |
|
|
|
| 4 |
Creditors: amounts falling due within one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Amounts owed to group undertaking |
|
1,114,853 |
|
641,872 |
|
Taxation and social security costs |
6,288 |
|
- |
|
Other creditors |
452,169 |
|
398,541 |
|
|
|
|
|
|
1,573,310 |
|
1,040,413 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due after one year |
2022 |
|
2021 |
| £ |
£ |
|
|
Bank loans |
4,403,389 |
|
2,483,709 |
|
|
|
|
|
|
|
|
|
|
The bank loans are secured over the Investment Properties owned by the company. |
|
| 6 |
Revaluation reserve |
2022 |
|
2021 |
| £ |
£ |
|
|
At 1 January 2022 |
8,740 |
|
- |
|
Gain on revaluation of land and buildings |
25,402 |
|
10,790 |
|
Deferred taxation arising on the revaluation of land and buildings |
(4,826) |
|
(2,050) |
|
|
At 31 December 2022 |
29,316 |
|
8,740 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Related party transactions |
|
| a) |
At the year end KLM Property Limited owed £800,442.60 (2021- £641,872) to Landford Holdings Limited and is disclosed under creditors in note 4 above.
KLM Property Limited is a 100 % subsidiary of Landford Holdings Limited. |
|
| b) |
At the year end Mannings UK Limited owed £314,410 (2021- Nil) to Landford Holdings Limited and is disclosed under creditors in note 4 above.
Mannings (UK) Limited is a 100 % subsidiary of Landford Holdings Limited. |
|
| 8 |
Controlling party |
|
|
There is no ultimate controlling party. |
|
| 9 |
Other information |
|
|
LANDFORD HOLDINGS LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
|
309 Hoe Street |
|
Walthamstow |
|
London |
|
E17 9BG |
