REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
28TH FEBRUARY 2023 |
FOR |
R.J. LANDER LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
28TH FEBRUARY 2023 |
FOR |
R.J. LANDER LIMITED |
R.J. LANDER LIMITED (REGISTERED NUMBER: 04164164) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
Page |
Company information | 1 |
Balance sheet | 2 |
Notes to the financial statements | 4 |
R.J. LANDER LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
Director: |
Secretary: |
Registered office: |
Registered number: |
R.J. LANDER LIMITED (REGISTERED NUMBER: 04164164) |
BALANCE SHEET |
28TH FEBRUARY 2023 |
28.2.23 | 28.2.22 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Investments | 6 |
Investment property | 7 |
Current assets |
Stocks | 8 |
Debtors | 9 |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 10 |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities | 11 |
Net assets |
Capital and reserves |
Called up share capital | 12 |
Undistb. reserves |
Retained earnings |
Shareholders' funds |
The director acknowledges his 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. |
R.J. LANDER LIMITED (REGISTERED NUMBER: 04164164) |
BALANCE SHEET - continued |
28TH FEBRUARY 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
R.J. LANDER LIMITED (REGISTERED NUMBER: 04164164) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
1. | Statutory information |
R.J. Lander Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about R.J. Lander Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Turnover |
The turnover, all of which arises in the U.K, represents invoiced sales of goods net of commission and excluding value added tax. |
Goodwill |
Goodwill is shown in the balance sheet at cost less amortisation and has been amortised at 20% per annum as the director considers that its useful life was 5 years. |
Intangible fixed assets |
Intangible fixed assets include the cost of personalised vehicle number plates. These are considered to be an enduring asset and are not depreciated or amortised. |
Tangible fixed assets |
Tangible fixed assets are stated in the Balance Sheet at cost less depreciation . |
Depreciation is provided at the following rates on the straight line method in order to write off each asset over its estimated useful life: |
Freehold property | 0% & 2% |
Plant & machinery | 20% |
Motor vehicles | 25% |
Office equipment | 15% |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Investment property |
Investment properties are shown at most recent valuations. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
R.J. LANDER LIMITED (REGISTERED NUMBER: 04164164) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
2. | Accounting policies - continued |
Stocks & work in progress |
Stock and work in progress have been valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Work in progress is valued as a percentage of the final invoice value according to the level of completion. The value of work in progress is included within sales in the profit and loss account and within other debtors in the balance sheet. |
R.J. LANDER LIMITED (REGISTERED NUMBER: 04164164) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
2. | Accounting policies - continued |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. |
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include trade and other receivables and cash and bank balances, 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. |
Other financial assets |
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment. |
Impairment of financial assets |
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date. |
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. 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 assets original effective interest rate. The impairment loss is recognised in profit or loss. |
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducing all of its liabilities. |
R.J. LANDER LIMITED (REGISTERED NUMBER: 04164164) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
2. | Accounting policies - continued |
Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method. |
Other financial liabilities |
Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge. |
Derecognition of financial liabilities |
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Operating leases |
The cost of operating leases is charged to the profit and loss account on a straight line basis over the lease term. |
R.J. LANDER LIMITED (REGISTERED NUMBER: 04164164) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
2. | Accounting policies - continued |
Fixed asset investments |
Fixed asset investments are valued on a historical cost basis, until such time that a readily ascertainable market value can be obtained. |
Investment properties are included at open market value, as valued by the director and no depreciation is charged. Changes in market value are recognised in the Statement of other comprehensive income and not the profit and loss account unless the deficit is expected to be permanent. |
3. | Employees (including officers) |
The average number of employees during the year was |
4. | Intangible fixed assets |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
Cost |
At 1st March 2022 |
and 28th February 2023 |
Amortisation |
At 1st March 2022 |
and 28th February 2023 |
Net book value |
At 28th February 2023 |
At 28th February 2022 |
R.J. LANDER LIMITED (REGISTERED NUMBER: 04164164) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
5. | Tangible fixed assets |
Freehold | Plant & | Office | Motor |
property | machinery | equipment | vehicles | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1st March 2022 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 28th February 2023 |
Depreciation |
At 1st March 2022 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 28th February 2023 |
Net book value |
At 28th February 2023 |
At 28th February 2022 |
Included in cost of land and buildings is freehold land of £ 300,000 (2022 - £ 300,000 ) which is not depreciated. |
6. | Fixed asset investments |
Shares in |
group |
undertakings |
£ |
Cost |
At 1st March 2022 |
and 28th February 2023 |
Net book value |
At 28th February 2023 |
At 28th February 2022 |
R.J. LANDER LIMITED (REGISTERED NUMBER: 04164164) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
6. | Fixed asset investments - continued |
The company's investments at the Balance sheet date in the share capital of companies include the following: |
Registered office: Network House, Thorn Office Centre, Hereford HR2 6JT |
Nature of business: |
% |
Class of shares: | holding |
28.2.23 | 28.2.22 |
£ | £ |
Aggregate capital and reserves |
7. | Investment property |
Total |
£ |
Fair value |
At 1st March 2022 |
and 28th February 2023 |
Net book value |
At 28th February 2023 |
At 28th February 2022 |
Investment properties were valued on the basis of open market value as at 28th February 2022, by the director, and they consider to be their fair value as at 28th February 2023. |
Fair value at 28th February 2023 is represented by: |
£ |
Valuation in 2022 | 209,169 |
Cost | 210,831 |
420,000 |
8. | Stocks |
28.2.23 | 28.2.22 |
£ | £ |
Stock |
R.J. LANDER LIMITED (REGISTERED NUMBER: 04164164) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
9. | Debtors: amounts falling due within one year |
28.2.23 | 28.2.22 |
£ | £ |
Trade debtors |
Other debtors |
Social security & other taxes | 79,823 | 122,323 |
Director's loan accounts | - | 21,181 |
10. | Creditors: amounts falling due within one year |
28.2.23 | 28.2.22 |
£ | £ |
Bank loans & overdrafts |
Trade creditors |
Amounts owed to group undertakings |
Corporation tax |
Social security & other taxes |
Other creditors & accruals |
Director's loan accounts | 6,373 | - |
11. | Provisions for liabilities |
28.2.23 | 28.2.22 |
£ | £ |
Deferred tax |
Deferred tax | 364,600 | 325,300 |
Investment property revalue | - | 52,300 |
364,600 | 377,600 |
Deferred tax |
£ |
Balance at 1st March 2022 |
Accelerated capital allowances | (35,600 | ) |
Losses | 22,600 |
Balance at 28th February 2023 |
R.J. LANDER LIMITED (REGISTERED NUMBER: 04164164) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28TH FEBRUARY 2023 |
12. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 28.2.23 | 28.2.22 |
value: | £ | £ |
Ordinary shares | £1 | 1,001 | 1,001 |
13. | Contingent liabilities & lease commitments |
There were no contingent liabilities or lease commitments as at 28th February 2023. |
14. | Director's advances, credits and guarantees |
During the year, the director used a current account with the company to record amounts due to them and amounts drawn by them. Loans and advances totalling £61,365 and repayments of £77,330 were made during the year. The balance at the year end was £6,373 owed by the company (2022: £21,181 owed to the company). |
The loans and advances were made interest free and were repayable on demand. |