Registered number
08597748
Lancashire Property Investment Find Limited
Report and Accounts
30 May 2023
Accountancy 4 Wealth Limited
Accountants and Business Advisors
33 Wolverhampton Road
Cannock
Staffordshire
WS11 1AP
Lancashire Property Investment Find Limited
Registered number: 08597748
Balance Sheet
as at 30 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 111,577 130,496
Current assets
Stocks 2,535 935
Debtors 4 762,496 601,918
Cash at bank and in hand 3,689 4,044
768,720 606,897
Creditors: amounts falling due within one year 5 (605,078) (426,823)
Net current assets 163,642 180,074
Total assets less current liabilities 275,219 310,570
Creditors: amounts falling due after more than one year 6 (31,597) (53,899)
Net assets 243,622 256,671
Capital and reserves
Called up share capital 1 1
Profit and loss account 243,621 256,670
Shareholders' funds 243,622 256,671
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
P Metcalfe
Director
Approved by the board on 8 August 2023
Lancashire Property Investment Find Limited
Notes to the Accounts
for the year ended 30 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 31 May 2022 224,850
Additions 3,558
At 30 May 2023 228,408
Depreciation
At 31 May 2022 94,354
Charge for the year 22,477
At 30 May 2023 116,831
Net book value
At 30 May 2023 111,577
At 30 May 2022 130,496
4 Debtors 2023 2022
£ £
Trade debtors 274,669 121,200
Amounts owed by group undertakings and undertakings in which the company has a participating interest 464,523 461,779
Other debtors 23,304 18,939
762,496 601,918
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 2,240
Trade creditors 126,209 153,908
Amounts owed to group undertakings and undertakings in which the company has a participating interest 299,675 96,472
Corporation tax 28,191 43,986
Other creditors 151,003 130,217
605,078 426,823
6 Creditors: amounts falling due after one year 2023 2022
£ £
Amounts owed to group undertakings and undertakings in which the company has a participating interest 31,597 53,899
7 Related party transactions
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.
8 Controlling party
The company is owned by Caring Retirement Homes Limited. The ultimate holding company is UK Caring Retirement Homes Ltd, a company incorporated in the UK.
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