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REGISTERED NUMBER: 10786648 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 January 2023

for

The Lord High Admiral Ltd

The Lord High Admiral Ltd (Registered number: 10786648)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

The Lord High Admiral Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTORS: A P Skitt
Miss H J Smith





REGISTERED OFFICE: Wadstray House
Blackawton
Totnes
TQ9 7DE





BUSINESS ADDRESS: 33 Stonehouse St
Plymouth
Devon
PL1 3PE





REGISTERED NUMBER: 10786648 (England and Wales)





ACCOUNTANTS: Crowther Jordan Limited
Chartered Accountants
39 High Street
Wednesfield
Wolverhampton
West Midlands
WV11 1ST

The Lord High Admiral Ltd (Registered number: 10786648)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 4,943 6,179
Tangible assets 5 44,117 55,052
49,060 61,231

CURRENT ASSETS
Stocks 8,374 6,547
Debtors 6 9,022 9,022
Cash at bank 21,088 29,100
38,484 44,669
CREDITORS
Amounts falling due within one year 7 (88,669 ) (103,903 )
NET CURRENT LIABILITIES (50,185 ) (59,234 )
TOTAL ASSETS LESS CURRENT LIABILITIES (1,125 ) 1,997

CREDITORS
Amounts falling due after more than one
year

8

(38,983

)

(43,126

)
NET LIABILITIES (40,108 ) (41,129 )

CAPITAL AND RESERVES
Called up share capital 11 1 1
Retained earnings (40,109 ) (41,130 )
SHAREHOLDERS' FUNDS (40,108 ) (41,129 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 Lord High Admiral Ltd (Registered number: 10786648)

Balance Sheet - continued
31 January 2023


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 and authorised for issue by the Board of Directors and authorised for issue on 31 October 2023 and were signed on its behalf by:





A P Skitt - Director


The Lord High Admiral Ltd (Registered number: 10786648)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

The Lord High Admiral Ltd 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.

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.

The financial statements have been prepared on a going concern basis.

The directors are confident that the company will continue as a going concern and there are no material uncertainties that will prevent this.

The directors have received assurances from related parties that they will not seek repayment of the monies advanced to the detriment of the company's ability to trade or pay other creditors. ( See note 13)

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Over period of lease
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


The Lord High Admiral Ltd (Registered number: 10786648)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 13 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 12,359
AMORTISATION
At 1 February 2022 6,180
Charge for year 1,236
At 31 January 2023 7,416
NET BOOK VALUE
At 31 January 2023 4,943
At 31 January 2022 6,179

The Lord High Admiral Ltd (Registered number: 10786648)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 February 2022 29,050 77,080 106,130
Additions - 4,996 4,996
Disposals - (4,768 ) (4,768 )
At 31 January 2023 29,050 77,308 106,358
DEPRECIATION
At 1 February 2022 9,726 41,352 51,078
Charge for year 2,146 10,252 12,398
Eliminated on disposal - (1,235 ) (1,235 )
At 31 January 2023 11,872 50,369 62,241
NET BOOK VALUE
At 31 January 2023 17,178 26,939 44,117
At 31 January 2022 19,324 35,728 55,052

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Other debtors 9,022 9,022

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 5,514 4,031
Trade creditors - 4,538
Taxation and social security 5,700 1,122
Other creditors 77,455 94,212
88,669 103,903

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans 38,983 43,126

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 15,500 21,562

The Lord High Admiral Ltd (Registered number: 10786648)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.1.23 31.1.22
£    £   
In more than five years 152,000 171,000

10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank loans 44,497 47,157

The Bank loan is provided under the Covid-19 Bounce Back Loan Scheme and as such is secured by HM Government.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
100 Ordinary 1p 1 1

12. RELATED PARTY DISCLOSURES

Other creditors includes the following amounts:-

31.1.23 31.1.22
£    £   

Amounts repayable to related parties 66,580 84,814

These amounts represent interest free loans repayable on demand.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
The Lord High Admiral Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Lord High Admiral Ltd for the year ended 31 January 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of The Lord High Admiral Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Lord High Admiral Ltd and state those matters that we have agreed to state to the Board of Directors of The Lord High Admiral Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Lord High Admiral Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Lord High Admiral Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Lord High Admiral Ltd. You consider that The Lord High Admiral Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of The Lord High Admiral Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Crowther Jordan Limited
Chartered Accountants
39 High Street
Wednesfield
Wolverhampton
West Midlands
WV11 1ST


31 October 2023