Leafield Estates Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07489826 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

LEAFIELD ESTATES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs R Kalish

REGISTERED OFFICE:

115 Craven Park Road

South Tottenham

London

N15 6BL

REGISTERED NUMBER:

07489826 (England and Wales)

ACCOUNTANTS:

Venitt and Greaves

Chartered Accountants

115 Craven Park Road

South Tottenham

London

N15 6BL

FIXED ASSETS

Tangible assets

4

5,370

6,317

Investment property

5

2,607,199

2,308,325

2,612,569

2,314,642

CURRENT ASSETS

Debtors

6

12,811

14,842

Cash at bank

17,008

4,027

29,819

18,869

CREDITORS

Amounts falling due within one year

7

(820,797

)

(510,651

)

NET CURRENT LIABILITIES

(790,978

)

(491,782

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,821,591

1,822,860

CREDITORS

Amounts falling due after more than one year

8

(1,072,575

)

(1,097,644

)

NET ASSETS

749,016

725,216

CAPITAL AND RESERVES

Called up share capital

10

1

1

Revaluation reserve

11

200,000

200,000

Retained earnings

11

549,015

525,215

SHAREHOLDERS' FUNDS

749,016

725,216

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 November 2023 and were signed by:

Mrs R Kalish - Director

1.	STATUTORY INFORMATION

Leafield Estates Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 net rent receivable, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. 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 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 February 2022

and 31 January 2023

14,318

DEPRECIATION

At 1 February 2022

8,001

Charge for year

947

At 31 January 2023

8,948

NET BOOK VALUE

At 31 January 2023

5,370

At 31 January 2022

6,317

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2022

2,308,325

Additions

298,874

At 31 January 2023

2,607,199

NET BOOK VALUE

At 31 January 2023

2,607,199

At 31 January 2022

2,308,325

The directors have confirmed that there is no significant increase or decrease in the property market value.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Trade debtors

5,775

7,806

Other debtors

7,036

7,036

12,811

14,842

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.23

31.1.22

£

£

Tax

13,096

12,759

Social security and other taxes

139

33

Other creditors

804,982

495,579

Accrued expenses

2,580

2,280

820,797

510,651

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.1.23

31.1.22

£

£

Bank loans more 5 yr by instal

743,739

752,067

Bank loan

143,946

150,948

Bank loan

184,890

194,629

1,072,575

1,097,644

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

743,739

752,067

Bank loan

143,946

150,948

Bank loan

184,890

194,629

1,072,575

1,097,644

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.1.23

31.1.22

£

£

Bank loans

1,072,575

1,097,644

Long term bank loan is secured by first charge over the company's investment property and bear interest at variable rates.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.23

31.1.22

value:

£

£

1

Ordinary

£1

1

1

11.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

£

£

At 1 February 2022

525,215

200,000

725,215

Profit for the year

23,800

23,800

At 31 January 2023

549,015

200,000

749,015

12.	RELATED PARTY DISCLOSURES

Other Creditors (Note 9) relates to amounts due to companies connected to the director and his family members. The loans are interest free and payable on demand.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs R Kalish.