Ladywalk Holdings Limited Filleted accounts for Companies House (small and micro)

LADYWALK HOLDINGS LIMITED - Company Information

false false false false false false false false false true false false false false false false false No description of principal activity 2018-09-01 Sage Accounts Production Advanced 2019 - FRS102_2014 242,744 242,744 242,744 xbrli:pure xbrli:shares iso4217:GBP 09738263 2018-09-01 2019-08-31 09738263 2019-08-31 09738263 2018-08-31 09738263 2017-09-01 2018-08-31 09738263 2018-08-31 09738263 bus:RegisteredOffice 2018-09-01 2019-08-31 09738263 bus:LeadAgentIfApplicable 2018-09-01 2019-08-31 09738263 bus:Director1 2018-09-01 2019-08-31 09738263 bus:Director2 2018-09-01 2019-08-31 09738263 core:LandBuildings core:OwnedOrFreeholdAssets 2018-08-31 09738263 core:WithinOneYear 2019-08-31 09738263 core:WithinOneYear 2018-08-31 09738263 core:UKTax 2017-09-01 2018-08-31 09738263 core:LandBuildings 2018-09-01 2019-08-31 09738263 core:ShareCapital 2019-08-31 09738263 core:ShareCapital 2018-08-31 09738263 core:RetainedEarningsAccumulatedLosses 2019-08-31 09738263 core:RetainedEarningsAccumulatedLosses 2018-08-31 09738263 core:LandBuildings 2018-08-31 09738263 core:LandBuildings 2018-08-31 09738263 bus:Director1 2018-08-31 09738263 bus:Director1 2019-08-31 09738263 bus:Director1 2017-08-31 09738263 bus:Director1 2018-08-31 09738263 bus:Director1 2017-09-01 2018-08-31 09738263 bus:SmallEntities 2018-09-01 2019-08-31 09738263 bus:AuditExemptWithAccountantsReport 2018-09-01 2019-08-31 09738263 bus:FullAccounts 2018-09-01 2019-08-31 09738263 bus:SmallCompaniesRegimeForAccounts 2018-09-01 2019-08-31 09738263 bus:PrivateLimitedCompanyLtd 2018-09-01 2019-08-31

COMPANY REGISTRATION NUMBER: 09738263

Ladywalk Holdings Limited

Filleted Unaudited Financial Statements

For the year ended

31 August 2019

Ladywalk Holdings Limited

Financial Statements

Year ended 31st August 2019

Contents	Pages

Officers and professional advisers	1

Statement of financial position	2 to 3

Notes to the financial statements	4 to 7

Ladywalk Holdings Limited

Officers and Professional Advisers

The board of directors	Mr A C A Hamilton
	Mrs L Hamilton

Registered office	First Floor Offices
	99 Bancroft
	Hitchin
	Hertfordshire
	SG5 1NQ

Accountants	Hicks and Company
	Chartered accountants
	First Floor
	99 Bancroft
	Hitchin
	Hertfordshire
	SG5 1NQ

Bankers	NatWest
	12 High Street
	Hitchin
	Hertfordshire
	SG5 1YY

Ladywalk Holdings Limited

Statement of Financial Position

31 August 2019

	2019		2018
Note	£	£	£

Fixed assets

Tangible assets	5		–	242,744

Current assets

Stocks		3,579,270	3,075,379
Debtors	6	25,000	40
Cash at bank		5,311	7,326
		------------	------------
		3,609,581	3,082,745

Creditors: amounts falling due within one year	7	3,627,373		3,319,498
		------------		------------
Net current liabilities			17,792	236,753
			--------	---------
Total assets less current liabilities			( 17,792)	5,991
			--------	-------
Net (liabilities)/assets			( 17,792)	5,991
			--------	-------

Capital and reserves

Called up share capital	100	100
Profit and loss account	( 17,892)	5,891
	--------	-------
Shareholders (deficit)/funds	( 17,792)	5,991
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31st August 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Ladywalk Holdings Limited

Statement of Financial Position (continued)

31 August 2019

These financial statements were approved by the board of directors and authorised for issue on 22 May 2020 , and are signed on behalf of the board by:

Mr A C A Hamilton

Director

Company registration number: 09738263

Ladywalk Holdings Limited

Notes to the Financial Statements

Year ended 31st August 2019

1. General information

The company is a private company limited by shares, registered in England and Wales, registered number 09738263 . The address of the registered office is First Floor, 99 Bancroft, Hitchin, Hertforshire, SG5 1NQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in pounds sterling, which is also the functional currency of the company. Monetary amounts are rounded to the nearest pound. Going concern The company is undertaking a number of building projects which are being continued with the support of one of the directors. There are no reasons to suggest the support will not continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Revenue recognition Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Taxation The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. Investment property Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis. Impairment of fixed assets At each reporting date, the company reviews the carrying amount of its fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs .

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Tax on (loss)/profit

Major components of tax expense

	2019	2018
	£	£

Current tax:

UK current tax expense	–	972
	----	----
Tax on (loss)/profit	–	972
	----	----

5. Tangible assets

	Freehold investment property
	£
Valuation
At 1st September 2018	242,744
Disposals	( 242,744)
	---------
At 31st August 2019	–
	---------
Depreciation
At 1st September 2018 and 31st August 2019	–
	---------
Carrying amount
At 31st August 2019	–
	---------
At 31st August 2018	242,744
	---------

Included within the above is investment property as follows:

	£
At 1st September 2018	242,744
Disposals	( 242,744)
	---------
At 31st August 2019	–
	---------

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold investment property
	£
At 31st August 2019
Aggregate cost	–
Aggregate depreciation	–
	----
Carrying value	–
	----

At 31st August 2018
Aggregate cost	242,744
Aggregate depreciation	–
	---------
Carrying value	242,744
	---------

6. Debtors

	2019	2018
	£	£
Other debtors	25,000	40
	--------	----

7. Creditors: amounts falling due within one year

	2019	2018
	£	£
Trade creditors	697,289	49
Corporation tax	–	972
Other creditors	2,930,084	3,318,477
	------------	------------
	3,627,373	3,319,498
	------------	------------

8. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2019
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr A C A Hamilton	( 3,308,177)	–	385,000	( 2,923,177)
	------------	----	---------	------------

	2018
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr A C A Hamilton	( 2,858,944)	( 489,233)	40,000	( 3,308,177)
	------------	---------	--------	------------

The above loan is unsecured, interest free and repayable on demand.

9. Related party transactions

Included in other debtors is an amount due from a company in which a director has a material interest:

	2019	2018
	£	£
Armada Property Group Limited	25,000	–

The above existing loan is unsecured, interest free and repayable on demand.