Company Registration No. 01868977 (England and Wales)
LANDEX (PROPERTIES) LIMITED
Unaudited accounts
for the year ended 31 December 2019
LANDEX (PROPERTIES) LIMITED
Statement of financial position
as at
31 December 2019
Tangible assets
127,622
130,820
Investment property
312,862
312,862
Investments
55,000
55,000
Cash at bank and in hand
161,071
121,142
Creditors: amounts falling due within one year
(79,970)
(78,580)
Net current assets
153,562
121,057
Net assets
594,046
564,739
Called up share capital
15
15
Revaluation reserve
93,691
93,691
Profit and loss account
500,340
471,033
Shareholders' funds
594,046
564,739
For the year ending 31 December 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2020 and were signed on its behalf by
S HANN
Director
Company Registration No. 01868977
LANDEX (PROPERTIES) LIMITED
Notes to the Accounts
for the year ended 31 December 2019
LANDEX (PROPERTIES) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 01868977. The registered office is Fourth Avenue, Westfield Trading Estate, Midsomer Norton, BA3 4XE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line
Plant & machinery
15% reducing balance
Motor vehicles
25% reducing balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
LANDEX (PROPERTIES) LIMITED
Notes to the Accounts
for the year ended 31 December 2019
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2019
154,829
88,967
14,269
258,065
At 31 December 2019
154,829
88,967
14,269
258,065
At 1 January 2019
30,400
85,962
10,883
127,245
Charge for the year
1,900
451
847
3,198
At 31 December 2019
32,300
86,413
11,730
130,443
At 31 December 2019
122,529
2,554
2,539
127,622
At 31 December 2018
124,429
3,005
3,386
130,820
5
Investment property
2019
Fair value at 1 January 2019
312,862
At 31 December 2019
312,862
Raw materials
4,000
4,000
Trade debtors
13,461
19,495
8
Investments held as current assets
2019
2018
Unlisted investments
55,000
55,000
9
Creditors: amounts falling due within one year
2019
2018
Trade creditors
985
2,337
Taxes and social security
12,960
12,223
Loans from directors
64,175
62,170
LANDEX (PROPERTIES) LIMITED
Notes to the Accounts
for the year ended 31 December 2019
10
Share capital
2019
2018
Allotted, called up and fully paid:
15 Ordinary shares of £1 each
15
15
11
Average number of employees
During the year the average number of employees was 2 (2018: 2).