Registered number
07153500
LODGEBANK LIMITED
Filleted Accounts
28 February 2023
LODGEBANK LIMITED
Registered number: 07153500
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Investments 3 40,777 40,777
Current assets
Debtors 4 296,199 268,149
Creditors: amounts falling due within one year 5 (34,071) (33,471)
Net current assets 262,128 234,678
Net assets 302,905 275,455
Capital and reserves
Called up share capital 1 1
Profit and loss account 302,904 275,454
Shareholders' funds 302,905 275,455
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.
Mr S Popat
Director
Approved by the board on 26 November 2023
LODGEBANK LIMITED
Notes to the Accounts
for the year ended 28 February 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 (as applied to small entities by section 1A of the standard).
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.
Consolidation
In the opinion of the director, the company and its subsidiary undertaking comprises a small group.The compay has therefore taken advantage of the exemption provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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 - -
3 Investments
Other
investments
£
Cost
At 1 March 2022 40,777
At 28 February 2023 40,777
Fixed assets investments are stated at cost less provision of diminution in value.

In the opinion of the directors, the carrying value of the investments does not differ significantly from their cost at the year end.
4 Debtors 2023 2022
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 296,199 268,149
5 Creditors: amounts falling due within one year 2023 2022
£ £
Other creditors 34,071 33,471
6 Related party transactions
Scalecrest Limited

Mr Shivam Popat is a company director in both Lodgebank and Scalecrest Limited.
Scalecrest Limited is the 100% shareholder of Lodgebank Limited.
During the year Lodgebank Limited received £28,050 (2022 £21,450) income as a dividend from Bircroft Insurance Services Limited which was transferred to Scalecrest Limited.
At the year end, the balance due from Scalecrest Limited was £296,199 (2022 £268,149)
7 Controlling party
The ultimate parent company is Scalecrest Limited, a company registered in England and Wales.
8 Other information
LODGEBANK LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Argyle House
3rd Floor, Northside
Joel Street, Northwood Hills
Middlesex
HA6 1NW
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