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REGISTERED NUMBER: 10442161 (England and Wales)















LOVEDEN ESTATES (DAWSMERE) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






LOVEDEN ESTATES (DAWSMERE) LIMITED (REGISTERED NUMBER: 10442161)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


LOVEDEN ESTATES (DAWSMERE) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: N D S Brown
P T S Brown
J C Taylor



REGISTERED OFFICE: The Old Rectory
Rectory Lane
Fulbeck
Grantham
Lincolnshire
NG32 3JS



REGISTERED NUMBER: 10442161 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Holdings Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF



SOLICITORS: Mossop & Bowser
10 Spalding Road
Holbeach
Lincolnshire
PE12 7LP

LOVEDEN ESTATES (DAWSMERE) LIMITED (REGISTERED NUMBER: 10442161)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 464,684 628,101

CURRENT ASSETS
Inventories 193,356 463,056
Debtors 5 132,281 181,047
Cash at bank 1,239,187 623,577
1,564,824 1,267,680
CREDITORS
Amounts falling due within one year 6 340,273 309,075
NET CURRENT ASSETS 1,224,551 958,605
TOTAL ASSETS LESS CURRENT LIABILITIES 1,689,235 1,586,706

PROVISIONS FOR LIABILITIES 140,534 82,647
NET ASSETS 1,548,701 1,504,059

CAPITAL AND RESERVES
Called up share capital 7 1,000,000 1,000,000
Retained earnings 548,701 504,059
SHAREHOLDERS' FUNDS 1,548,701 1,504,059

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 August 2023 and were signed on its behalf by:





P T S Brown - Director


LOVEDEN ESTATES (DAWSMERE) LIMITED (REGISTERED NUMBER: 10442161)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Loveden Estates (Dawsmere) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue
Revenue represents amounts derived from the provision of goods and services which fall within the company's ordinary activities after deduction of trade discounts and value added tax.

Property, plant and equipment
Depreciation is provided on cost less estimated residual value in equal annual instalments over the estimated useful lives of plant and equipment. The rates of depreciation are as follows:


Motor vehicles 33% per annum straight line

All other plant and equipment10-20% per annum straight line

Improvements to property20% per annum straight line

Freehold land and buildings 5% per annum straight line

Inventories
Work in progress is valued at the lower of cost and fair value less costs to complete and sell.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.


LOVEDEN ESTATES (DAWSMERE) LIMITED (REGISTERED NUMBER: 10442161)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 4 (2022 - 3 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2022 513,848 604,777 1,118,625
Additions - 56,081 56,081
Disposals - (306,791 ) (306,791 )
At 31 May 2023 513,848 354,067 867,915
DEPRECIATION
At 1 June 2022 87,249 403,275 490,524
Charge for year 25,692 34,696 60,388
Eliminated on disposal - (147,681 ) (147,681 )
At 31 May 2023 112,941 290,290 403,231
NET BOOK VALUE
At 31 May 2023 400,907 63,777 464,684
At 31 May 2022 426,599 201,502 628,101

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 80,985 98,183
Amounts owed by group undertakings 5,500 5,500
Other debtors 45,796 77,364
132,281 181,047

LOVEDEN ESTATES (DAWSMERE) LIMITED (REGISTERED NUMBER: 10442161)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 61,182 140,599
Tax 25,587 -
Social security and other taxes 260 301
Other creditors 46 -
Accruals and deferred income 118,053 24,325
Deferred government grants 135,145 143,850
340,273 309,075

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000,000 Ordinary £1 1,000,000 1,000,000

8. OTHER FINANCIAL COMMITMENTS

At the year end the company has commitments due as follows:

20232022
££
Within one year1,56210,628
Between one and five years -1,562
In more than five years--
1,56212,190