Landtask UK LLP - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: OC330889 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 March 2023

for

Landtask UK LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DESIGNATED MEMBERS:

Mr M J Holland

Mrs N K Holland

REGISTERED OFFICE:

24-26 Mansfield Road

Rotherham

S60 2DT

REGISTERED NUMBER:

OC330889 (England and Wales)

ACCOUNTANTS:

SMH Haywood & Co Limited

24-26 Mansfield Road

Rotherham

South Yorkshire

S60 2DT

FIXED ASSETS

Tangible assets

4

8,920

643

Investment property

5

2,000,000

2,000,000

2,008,920

2,000,643

CURRENT ASSETS

Debtors

6

97,716

34,000

Cash at bank

4,124

39,995

101,840

73,995

CREDITORS

Amounts falling due within one year

7

(251,240

)

(139,044

)

NET CURRENT LIABILITIES

(149,400

)

(65,049

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,859,520

1,935,594

CREDITORS

Amounts falling due after more than one year

8

(371,373

)

(450,488

)

NET ASSETS ATTRIBUTABLE TO MEMBERS

1,488,147

1,485,106

LOANS AND OTHER DEBTS DUE TO MEMBERS

10

641,050

638,009

MEMBERS' OTHER INTERESTS

Revaluation reserve

11

847,097

847,097

1,488,147

1,485,106

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

10

641,050

638,009

Members' other interests

847,097

847,097

1,488,147

1,485,106

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 30 March 2023.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Profit and Loss Account has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 13 December 2023 and were signed by:

Mr M J Holland - Designated member

1.	STATUTORY INFORMATION

Landtask UK LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. 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.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 25% 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.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 31 March 2022

5,538

Additions

11,250

At 30 March 2023

16,788

DEPRECIATION

At 31 March 2022

4,895

Charge for year

2,973

At 30 March 2023

7,868

NET BOOK VALUE

At 30 March 2023

8,920

At 30 March 2022

643

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 31 March 2022

and 30 March 2023

2,000,000

NET BOOK VALUE

At 30 March 2023

2,000,000

At 30 March 2022

2,000,000

The investment property is included at the directors estimate of fair value at the year end of £2,000,000 (2022 -£2,000,000).

The historical cost of the investment property is £1,152,903 (2022- £1,152,903).

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

62,184

2,515

Other debtors

35,532

31,485

97,716

34,000

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

60,000

60,000

Trade creditors

77,723

35,113

Taxation and social security

11,595

10,156

Other creditors

101,922

33,775

251,240

139,044

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

350,000

410,000

Other creditors

21,373

40,488

371,373

450,488

9.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

410,000

470,000

The bank loan is secured on the investment property and by way of personal guarantees given by the designated members.

10.

LOANS AND OTHER DEBTS DUE TO MEMBERS

2023

2022

£

£

Loans from members

323,624

323,624

Amounts owed to members in respect of profits

317,426

314,385

641,050

638,009

Falling due within one year

641,050

638,009

Members loans and capital rank equally with other unsecured creditors and no protection is afforded to those in the event of the LLP being wound up other than that generally available to unsecured creditors.

11.

RESERVES

Revaluation

reserve

£

At 31 March 2022

and 30 March 2023

847,097

12.	RELATED PARTY DISCLOSURES

As at 30 March 2023, the company owed £51,559 (2022- £nil) to John Holland Sales Limited. M Holland is a director and shareholder of John Holland Sales Limited.