Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-3122021-01-01falseNo description of principal activity2truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08127266 2021-01-01 2021-12-31 08127266 2020-01-01 2020-12-31 08127266 2021-12-31 08127266 2020-12-31 08127266 2020-01-01 08127266 c:Director1 2021-01-01 2021-12-31 08127266 d:Buildings 2021-01-01 2021-12-31 08127266 d:Buildings 2021-12-31 08127266 d:Buildings 2020-12-31 08127266 d:Buildings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 08127266 d:LandBuildings 2021-12-31 08127266 d:LandBuildings 2020-12-31 08127266 d:PlantMachinery 2021-01-01 2021-12-31 08127266 d:PlantMachinery 2021-12-31 08127266 d:PlantMachinery 2020-12-31 08127266 d:PlantMachinery d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 08127266 d:FurnitureFittings 2021-01-01 2021-12-31 08127266 d:FurnitureFittings 2021-12-31 08127266 d:FurnitureFittings 2020-12-31 08127266 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 08127266 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 08127266 d:FreeholdInvestmentProperty 2021-12-31 08127266 d:FreeholdInvestmentProperty 2020-12-31 08127266 d:CurrentFinancialInstruments 2021-12-31 08127266 d:CurrentFinancialInstruments 2020-12-31 08127266 d:Non-currentFinancialInstruments 2021-12-31 08127266 d:Non-currentFinancialInstruments 2020-12-31 08127266 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 08127266 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 08127266 d:Non-currentFinancialInstruments d:AfterOneYear 2021-12-31 08127266 d:Non-currentFinancialInstruments d:AfterOneYear 2020-12-31 08127266 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2021-12-31 08127266 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2020-12-31 08127266 d:ShareCapital 2021-12-31 08127266 d:ShareCapital 2020-12-31 08127266 d:RevaluationReserve 2021-01-01 2021-12-31 08127266 d:InvestmentPropertiesRevaluationReserve 2021-12-31 08127266 d:InvestmentPropertiesRevaluationReserve 2020-12-31 08127266 d:RetainedEarningsAccumulatedLosses 2021-12-31 08127266 d:RetainedEarningsAccumulatedLosses 2020-12-31 08127266 c:FRS102 2021-01-01 2021-12-31 08127266 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 08127266 c:FullAccounts 2021-01-01 2021-12-31 08127266 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 08127266 2 2021-01-01 2021-12-31 08127266 d:OtherDeferredTax 2021-12-31 08127266 d:OtherDeferredTax 2020-12-31 iso4217:GBP xbrli:pure

Registered number: 08127266









LAMPCO MANAGEMENT LIMITED








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

 
LAMPCO MANAGEMENT LIMITED
REGISTERED NUMBER: 08127266

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
730,629
720,103

Investment property
 5 
1,614,285
1,614,285

  
2,344,914
2,334,388

Current assets
  

Debtors: amounts falling due within one year
 6 
1,600
1,600

Cash at bank and in hand
 7 
196,508
144,810

  
198,108
146,410

Creditors: amounts falling due within one year
 8 
(37,041)
(35,412)

Net current assets
  
 
 
161,067
 
 
110,998

Total assets less current liabilities
  
2,505,981
2,445,386

Creditors: amounts falling due after more than one year
 9 
(1,300,000)
(1,330,000)

Provisions for liabilities
  

Deferred tax
 11 
(86,184)
(86,184)

  
 
 
(86,184)
 
 
(86,184)

Net assets
  
1,119,797
1,029,202


Capital and reserves
  

Called up share capital 
  
90
90

Investment property reserve
 12 
420,784
420,784

Profit and loss account
 12 
698,923
608,328

  
1,119,797
1,029,202


Page 1

 
LAMPCO MANAGEMENT LIMITED
REGISTERED NUMBER: 08127266
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Mr M Vekaria
Director

Date: 13 September 2022

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
LAMPCO MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Lampco Management Limited is a private company limited by shares. The company is incorporated in England and Wales and its registered office is Cardoc House, Station Road, North Harrow, Middlesex, HA2 6AE. The registered number is 08127266. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
LAMPCO MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Plant and machinery
-
20%
Reducing balance
Fixtures and fittings
-
20%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
LAMPCO MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

Page 5

 
LAMPCO MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Tangible fixed assets





Freehold property
Plant and machinery
Fixtures and fittings
Total

£
£
£
£



Cost or valuation


At 1 January 2021
716,423
16,400
7,503
740,326


Additions
11,262
-
-
11,262



At 31 December 2021

727,685
16,400
7,503
751,588



Depreciation


At 1 January 2021
-
13,649
6,574
20,223


Charge for the year on owned assets
-
550
186
736



At 31 December 2021

-
14,199
6,760
20,959



Net book value



At 31 December 2021
727,685
2,201
743
730,629



At 31 December 2020
716,423
2,751
929
720,103




The net book value of land and buildings may be further analysed as follows:


2021
2020
£
£

Freehold
727,685
716,423

727,685
716,423


Page 6

 
LAMPCO MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2021
1,614,285



At 31 December 2021
1,614,285

The 2021 valuations were made by the director, on an open market value for existing use basis.

2021
2020
£
£

Revaluation reserves


At 1 January 2021
420,784
420,784

At 31 December 2021
420,784
420,784





6.


Debtors

2021
2020
£
£


Other debtors
1,600
1,600

1,600
1,600



7.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
196,509
144,810

196,509
144,810


Page 7

 
LAMPCO MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

8.


Creditors: Amounts falling due within one year

2021
2020
£
£

Corporation tax
21,596
21,412

Other creditors
11,245
10,325

Accruals and deferred income
4,200
3,675

37,041
35,412



9.


Creditors: Amounts falling due after more than one year

2021
2020
£
£

Bank loans
-
30,000

Amounts owed to joint ventures
1,300,000
1,300,000

1,300,000
1,330,000



10.


Loans


Analysis of the maturity of loans is given below:


2021
2020
£
£


Amounts falling due 1-2 years

Bank loans
-
30,000


-
30,000



-
30,000


Page 8

 
LAMPCO MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

11.


Deferred taxation




2021
2020


£

£






At beginning of year
(86,184)
(86,184)



At end of year
(86,184)
(86,184)

2021
2020
£
£


Fair value movement in investment properties
(86,184)
(86,184)


12.


Reserves

Revaluation reserve

Capital and reserves includes net non-distributable reserves of £420,784 (2020: £420,784) due to fair value gains on investment property, after related deferred tax charge of £86,184.

 
Page 9