Landau Investments (1978) Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 01369243 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

LANDAU INVESTMENTS (1978) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C S Landau

J E Landau

M P A Landau

SECRETARY:

C S Landau

REGISTERED OFFICE:

12 Ranelagh Close

Edgware

Middlesex

HA8 8HL

REGISTERED NUMBER:

01369243 (England and Wales)

ACCOUNTANTS:

Sterlings Ltd

Chartered Accountants

Lawford House

Albert Place

London

N3 1QA

FIXED ASSETS

Investments

4

40,001

40,001

Investment properties

5

2,466,000

2,736,000

2,506,001

2,776,001

CURRENT ASSETS

Debtors

6

659,641

706,812

Investments

7

524,056

-

Cash at bank and in hand

291,003

743,927

1,474,700

1,450,739

CREDITORS

Amounts falling due within one year

8

(193,719

)

(219,410

)

NET CURRENT ASSETS

1,280,981

1,231,329

TOTAL ASSETS LESS CURRENT LIABILITIES

3,786,982

4,007,330

PROVISIONS FOR LIABILITIES

9

(148,065

)

(163,972

)

NET ASSETS

3,638,917

3,843,358

CAPITAL AND RESERVES

Called up share capital

15,000

15,000

Share premium

502,605

502,605

Retained earnings

3,121,312

3,325,753

SHAREHOLDERS' FUNDS

3,638,917

3,843,358

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2023 and were signed on its behalf by:

C S Landau - Director

1.	STATUTORY INFORMATION

Landau Investments (1978) 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 represents rents receivable.

Investments in associates

Investments in associate undertakings are recognised at cost.

Investment properties

Investment properties are initially measured at acquisition cost. Subsequently investment properties whose fair values can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value. Gains or losses arising from the changes in fair value are included in the profit and loss account in the period in which they arise.

Financial instruments

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

Debt instruments like bank loans are initially measured at present value of future payments and subsequently at amortised cost using the effective interest method. Debt instruments which are payable or receivable within one year such as trade debtors or trade creditors are measured, initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid or received.

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 & loss account.

Taxation

Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

4.	FIXED ASSET INVESTMENTS

Interest

in

Other

associate

investments

Totals

£

£

£

COST

At 1 July 2022

and 30 June 2023

40,000

1

40,001

NET BOOK VALUE

At 30 June 2023

40,000

1

40,001

At 30 June 2022

40,000

1

40,001

5.	INVESTMENT PROPERTIES

Total

£

FAIR VALUE

At 1 July 2022

2,736,000

Revaluations

(270,000

)

At 30 June 2023

2,466,000

NET BOOK VALUE

At 30 June 2023

2,466,000

At 30 June 2022

2,736,000

Fair value at 30 June 2023 is represented by:

£

Valuation in 2014

2,292,370

Valuation in 2015

267,442

Valuation in 2017

125,000

Valuation in 2019

(44,850

)

Valuation in 2020

(456,255

)

Valuation in 2021

46,000

Valuation in 2022

(50,000

)

Valuation in 2023

(270,000

)

Cost

556,293

2,466,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2023

2022

£

£

Cost

556,293

556,293

The investment properties were valued on an open market basis on 30 June 2023 by the directors of the company .

6.

DEBTORS

2023

2022

£

£

Amounts falling due within one year:

Trade debtors

26,127

34,560

Other debtors

580,958

619,696

607,085

654,256

Amounts falling due after more than one year:

Other debtors

52,556

52,556

Aggregate amounts

659,641

706,812

7.	CURRENT ASSET INVESTMENTS

2023

2022

£

£

Listed investments

524,056

-

The above listed investments are stated at market value. The historical cost of the listed investments, at the balance sheet date, was £527,351 (2022 - nil).

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Taxation and social security

46,091

47,197

Other creditors

147,628

172,213

193,719

219,410

9.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

148,065

163,972

Deferred

tax

£

Balance at 1 July 2022

163,972

Provided during year

(15,907

)

Balance at 30 June 2023

148,065

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

2023

2022

£

£

M P A Landau

Balance outstanding at start of year

38,000

38,000

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

38,000

38,000

11.	RELATED PARTY DISCLOSURES

Included in debtors is a loan, of £560,000 (2022 - £594,000), on mortgage to C.B.L. (Property Investment) Co Limited, a company which has directors in common with Landau Investments (1978) Limited. The loan carries a commercial rate of interest and during the year, the sum of £29,147 (2022 - £14,379) was credited to the Profit and Loss account.

During the year, Landau Investments (1978) Limited received a loan of £45,500 from Landau Properties (Reigate) Limited, a company which has directors in common with Landau Investments (1978) Limited, and this loan was repaid in full before the balance sheet date. The loan carried a commercial rate of interest and during the year the sum of £116 (2022 - nil) was debited to the Profit and Loss account.

12.	RETAINED EARNINGS

The amount of Retained Earnings not being distributable, as at the balance sheet date, amounted to £1,758,347 (2022 - £2,015,735).