Litfield Land Limited - Accounts to registrar (filleted) - small 23.2.5
Litfield Land Limited - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 May 2023 |
| for |
| Litfield Land Limited |
| Litfield Land Limited (Registered number: 03062821) |
| Contents of the Financial Statements |
| for the Year Ended 31 May 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| Litfield Land Limited |
| Company Information |
| for the Year Ended 31 May 2023 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Woodlands Grange |
| Woodlands Lane |
| Bradley Stoke |
| Bristol |
| BS32 4JY |
| Litfield Land Limited (Registered number: 03062821) |
| Balance Sheet |
| 31 May 2023 |
| 31.5.23 | 31.5.22 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 11 |
| Retained earnings | 12 |
| SHAREHOLDERS' FUNDS |
| The director acknowledges his 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. |
| Litfield Land Limited (Registered number: 03062821) |
| Balance Sheet - continued |
| 31 May 2023 |
| 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 |
| Litfield Land Limited (Registered number: 03062821) |
| Notes to the Financial Statements |
| for the Year Ended 31 May 2023 |
| 1. | STATUTORY INFORMATION |
| Litfield Land Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about Litfield Land Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| 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 consists of rents receivable. Revenue is recognised evenly over the rental period. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Litfield Land Limited (Registered number: 03062821) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2023 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor | Computer |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 June 2022 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 May 2023 |
| DEPRECIATION |
| At 1 June 2022 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 May 2023 |
| NET BOOK VALUE |
| At 31 May 2023 |
| At 31 May 2022 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 June 2022 |
| and 31 May 2023 |
| NET BOOK VALUE |
| At 31 May 2023 |
| At 31 May 2022 |
| The investments are a 100% holding in Bristol Property Investments Limited and 50% holding in Wightstone Land & Planning Limited. |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 June 2022 |
| Additions |
| At 31 May 2023 |
| NET BOOK VALUE |
| At 31 May 2023 |
| At 31 May 2022 |
| Litfield Land Limited (Registered number: 03062821) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2023 |
| 6. | INVESTMENT PROPERTY - continued |
| Fair value at 31 May 2023 is represented by: |
| £ |
| Valuation in 2005 | 73,502 |
| Valuation in 2006 | 400,000 |
| Valuation in 2012 | 174,627 |
| Valuation in 2013 | 143,000 |
| Valuation in 2014 | 419,342 |
| Valuation in 2018 | 104,706 |
| Valuation in 2021 | 672,577 |
| Valuation in 2022 | 379,444 |
| Cost | 7,220,451 |
| 9,587,649 |
| If the investment properties had not been revalued they would have been included at the following historical cost: |
| 31.5.23 | 31.5.22 |
| £ | £ |
| Cost | 7,220,451 | 7,178,267 |
| The investment properties were valued on an open market basis on 31 May 2023 by the director . |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.23 | 31.5.22 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Prepayments |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.5.23 | 31.5.22 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Tax |
| Social security and other taxes |
| VAT | 36,381 | - |
| Other creditors |
| Directors' current accounts | 1 | 65 |
| Accrued expenses |
| Litfield Land Limited (Registered number: 03062821) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2023 |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.5.23 | 31.5.22 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans due after 5 years | 390,000 | 430,000 |
| Bank loans due after 5 years | 320,000 | 320,000 |
| Amounts falling due in more than five years: |
| Repayable otherwise than by instalments |
| Bank loans due after 5 years | 320,000 | 320,000 |
| Repayable by instalments |
| Bank loans due after 5 years | 390,000 | 430,000 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.5.23 | 31.5.22 |
| £ | £ |
| Bank loans |
| 11. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.5.23 | 31.5.22 |
| value: | £ | £ |
| Ordinary A shares | £1 | 340 | 340 |
| Ordinary B shares | £1 | 64 | 64 |
| 404 | 404 |
| 12. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 June 2022 |
| Profit for the year |
| Dividends | ( |
) |
| At 31 May 2023 |
| Non-distributable reserves as at 31/05/2023 are £1,775,398 (2022:£1,775,397) |
| Litfield Land Limited (Registered number: 03062821) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 May 2023 |
| 13. | RELATED PARTY DISCLOSURES |
| Litfield Land Limited own 100% of the share capital in Bristol Property Investments Limited. |
| At the year end, Litfield Land Limited owed Bristol Property Investments Limited £2,634,083 (2022: £2,603,176). |
| Litfield Land Limited owns 50% of the share capital of Wightstone Land & Planning Limited. |
| At the year end, Litfield Land Limited was owed £219,888 (2022: £204,272) by Wightstone Land & Planning Limited |