LOWE (PADDOCK WOOD) LIMITED

Company Registration Number:
00709576 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2023

Period of accounts

Start date: 01 April 2022

End date: 31 March 2023

LOWE (PADDOCK WOOD) LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2023

Balance sheet
Notes

LOWE (PADDOCK WOOD) LIMITED

Balance sheet

As at 31 March 2023


Notes

2023

2022


£

£
Fixed assets
Tangible assets: 3 15,540,374 15,548,997
Total fixed assets: 15,540,374 15,548,997
Current assets
Debtors:   37,665 40,957
Cash at bank and in hand: 154,080 161,597
Total current assets: 191,745 202,554
Creditors: amounts falling due within one year: 4 (392,920) (406,514)
Net current assets (liabilities): (201,175) (203,960)
Total assets less current liabilities: 15,339,199 15,345,037
Provision for liabilities: (1,684,410) (1,281,638)
Total net assets (liabilities): 13,654,789 14,063,399
Capital and reserves
Called up share capital: 26,500 26,500
Share premium account: 287,100 287,100
Revaluation reserve:511,959,33812,361,928
Profit and loss account: 1,381,851 1,387,871
Shareholders funds: 13,654,789 14,063,399

The notes form part of these financial statements

LOWE (PADDOCK WOOD) LIMITED

Balance sheet statements

For the year ending 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 16 October 2023
and signed on behalf of the board by:

Name: R A E LOWE
Status: Director

The notes form part of these financial statements

LOWE (PADDOCK WOOD) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover represents net invoiced sales of services, excluding VAT as adjusted to the fair value of the consideration received or receivable.

Tangible fixed assets and depreciation policy

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Depreciation is provided at the following annual rates in order to write off the cost, less estimated residual value of each asset, held by the Company for its own use, over its estimated useful life. The annual depreciation rates and methods are as follows:Freehold Land and Property - Not depreciated but subject to annual impairment reviewPlant and Machinery - 15% on reducing balanceMotor Vehicles - 25% on reducing balanceComputer Equipment - 25% on reducing balanceThe carrying values of tangible fixed assets are reviewed for impairment at each reporting end date or when events or changes in circumstances indicate the carrying value may not be recoverable.Freehold Land and Property is carried at a revalued amount. Revaluation is undertaken with the assistance of advice from professionally qualified valuers, with changes in value taken to the property revaluation reserve.

Other accounting policies

Taxation:Taxation represents the sum of tax currently payable and deferred tax. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.Deferred tax on revalued property assets is calculated using the rates, reliefs and allowances that are likely to apply upon sale.Leased Assets:Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.Debtors:Known bad debts are written off and provision is made for any considered to be doubtful.Pension Costs and Other Post-Retirement Benefits:The company operates 2 separate defined contribution pension schemes, one for 2 of the company directors and the other for employees under auto enrolment rules. Contributions payable to the company's pension schemes are charged to the profit and loss account in the period to which they relate.

LOWE (PADDOCK WOOD) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

2. Employees

2023 2022
Average number of employees during the period 4 4

LOWE (PADDOCK WOOD) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

3. Tangible Assets

Total
Cost £
At 01 April 2022 18,003,557
At 31 March 2023 18,003,557
Depreciation
At 01 April 2022 2,454,560
Charge for year 8,623
At 31 March 2023 2,463,183
Net book value
At 31 March 2023 15,540,374
At 31 March 2022 15,548,997

LOWE (PADDOCK WOOD) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

4. Creditors: amounts falling due within one year note

There are no secured creditors.

LOWE (PADDOCK WOOD) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

5. Revaluation reserve

2023
£
Balance at 01 April 2022 12,361,928
Surplus or deficit after revaluation (402,590)
Balance at 31 March 2023 11,959,338

LOWE (PADDOCK WOOD) LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2023

6. Financial commitments

The Company has provided a fixed and floating charge over its freehold property and the whole of its undertaking to LloydsBank PLC in respect of loan facilities provided to its holding company Lowe ( Paddock Wood ) Holdings Limited .At 31 March 2023 the amount owed by Lowe (Paddock Wood)Holdings Limited to Lloyds Bank PLC was £924,294 (2022:£1,112,906)