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REGISTERED NUMBER: 09933395 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

LINDMEAD PROPERTIES LIMITED

LINDMEAD PROPERTIES LIMITED (REGISTERED NUMBER: 09933395)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 April 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LINDMEAD PROPERTIES LIMITED

COMPANY INFORMATION
for the year ended 30 April 2023







DIRECTORS: S A J Davies
G P Gay





SECRETARY: G P Gay





REGISTERED OFFICE: 30 Harbord Street
London
United Kingdom
SW6 6PJ





REGISTERED NUMBER: 09933395 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Magma House
16 Davy Court
Castle Mound Way
Rugby
CV23 0UZ

LINDMEAD PROPERTIES LIMITED (REGISTERED NUMBER: 09933395)

BALANCE SHEET
30 April 2023

2023 2022
Notes £    £   
FIXED ASSETS
Investment property 4 - 295,000

CURRENT ASSETS
Stocks 200,000 200,000
Debtors 5 30,002 5,912
Cash at bank and in hand 13,201 8,266
243,203 214,178
CREDITORS
Amounts falling due within one year 6 (213,236 ) (423,874 )
NET CURRENT ASSETS/(LIABILITIES) 29,967 (209,696 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

29,967

85,304

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 28,967 84,304
29,967 85,304

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2023 and were signed on its behalf by:





G P Gay - Director


LINDMEAD PROPERTIES LIMITED (REGISTERED NUMBER: 09933395)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 April 2023


1. STATUTORY INFORMATION

Lindmead Properties 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.

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 presentation currency of the financial statements is in sterling and the figures are rounded to the nearest £1.

Going concern
As at 30 April 2023 the company had net current assets of £29,967 (2022: net current liabilities of £209,696) and net assets of £29,967 (2022 £85,304). The directors consider that the company has sufficient resources and support to meet its liabilities as they fall due for at least 12 months from the signing of these financial statements and have therefore prepared the financial statements on a going concern basis. The parent company confirmed that they will not request repayment of the amounts owed to them of £210,000 (2022 £240,000) until the company has sufficient resources to repay the amounts.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates,value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Investment property
Investment property comprises freehold buildings. They are measured initially at cost, including related transaction costs. These are held as investments to earn rental income and for capital appreciation and are stated at fair value at the Balance Sheet date.

Subsequent expenditure is added to the assets carrying amount only when it is probable that future economic benefits associated with the item will flow to the company and the cost of the item can be measured reliably. All other repairs and maintenance costs are charged to the profit and loss account during the financial period in which they are incurred.

Any movement in the fair value of the properties is reflected within the profit and loss account for the year.

Stocks
Trading properties are stated at the lower of cost and estimated selling price less costs to complete and sell.

At each balance sheet date, trading properties are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.


LINDMEAD PROPERTIES LIMITED (REGISTERED NUMBER: 09933395)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2023


2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Financial instruments
(i) Financial assets

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

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022 295,000
Disposals (295,000 )
At 30 April 2023 -
NET BOOK VALUE
At 30 April 2023 -
At 30 April 2022 295,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 1,021
Amounts owed by group undertakings 29,225 4,225
Other debtors 777 666
30,002 5,912

LINDMEAD PROPERTIES LIMITED (REGISTERED NUMBER: 09933395)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 April 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 210,000 240,333
Taxation and social security - 1,400
Other creditors 3,236 182,141
213,236 423,874