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REGISTERED NUMBER: 02496058 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Lanvin Trading Ltd

Lanvin Trading Ltd (Registered number: 02496058)






Contents of the Financial Statements
for the Year Ended 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lanvin Trading Ltd

Company Information
for the Year Ended 28 FEBRUARY 2023







DIRECTORS: S Cove
Mrs N Cove





SECRETARY: S Cove





REGISTERED OFFICE: Suite 2C, Brosnan House
175 Darkes Lanet
Potters Bar
Hertfordshire
EN6 1BW





REGISTERED NUMBER: 02496058 (England and Wales)





ACCOUNTANTS: The Greene Partnership LLP
Chartered Accountants
Suite 2C, Brosnan House
175 Darkes Lane
Potters Bar
Hertfordshire
EN6 1BW

Lanvin Trading Ltd (Registered number: 02496058)

Balance Sheet
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,578,630 2,578,630
Investments 5 633,622 766,622
3,212,252 3,345,252

CURRENT ASSETS
Debtors 6 4,471,542 4,820,567
Cash at bank 115,861 190,823
4,587,403 5,011,390
CREDITORS
Amounts falling due within one year 7 1,795,534 1,491,709
NET CURRENT ASSETS 2,791,869 3,519,681
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,004,121

6,864,933

CREDITORS
Amounts falling due after more than one year 8 1,204,372 1,735,882
NET ASSETS 4,799,749 5,129,051

CAPITAL AND RESERVES
Called up share capital 9 50,000 50,000
Property revaluation reserve 10 373,000 373,000
Retained earnings 4,376,749 4,706,051
SHAREHOLDERS' FUNDS 4,799,749 5,129,051

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

Lanvin Trading Ltd (Registered number: 02496058)

Balance Sheet - continued
28 FEBRUARY 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2023 and were signed on its behalf by:





S Cove - Director


Lanvin Trading Ltd (Registered number: 02496058)

Notes to the Financial Statements
for the Year Ended 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Lanvin Trading Ltd 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents received and fees received, exclusive of value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - Revalued yearly on an open market basis

Freehold and leasehold properties comprise investment properties and in accordance with Standard Statement of Accounting Practice No 19 no depreciation is provided.These properties are revalued annually and the aggregate surplus or deficit is transferred to a revaluation reserve.The directors consider that this policy results in the accounts giving a true and fair view.


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Lanvin Trading Ltd (Registered number: 02496058)

Notes to the Financial Statements - continued
for the Year Ended 28 FEBRUARY 2023

4. TANGIBLE FIXED ASSETS
Freehold
property
£   
COST OR VALUATION
At 1 March 2022
and 28 February 2023 2,578,630
NET BOOK VALUE
At 28 February 2023 2,578,630
At 28 February 2022 2,578,630

Cost or valuation at 28 February 2023 is represented by:

Freehold
property
£   
Valuation in 2004 306,000
Valuation in 2005 100,000
Valuation in 2006 150,000
Valuation in 2007 270,000
Valuation in 2011 (82,000 )
Valuation in 2014 (75,000 )
Valuation in 2015 (20,000 )
Valuation in 2018 (121,000 )
Valuation in 2020 (85,000 )
Valuation in 2021 (70,000 )
Cost 2,205,630
2,578,630

If Freehold properties had not been revalued they would have been included at the following historical cost:

28.2.23 28.2.22
£    £   
Cost 2,205,630 2,205,630

Freehold properties were valued on an open market basis on 28 February 2023 by the directors .

Lanvin Trading Ltd (Registered number: 02496058)

Notes to the Financial Statements - continued
for the Year Ended 28 FEBRUARY 2023

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 March 2022 775,622
Disposals (142,000 )
At 28 February 2023 633,622
PROVISIONS
At 1 March 2022 9,000

Provision written back (9,000 )
At 28 February 2023 -
NET BOOK VALUE
At 28 February 2023 633,622
At 28 February 2022 766,622

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Debtors 26,706 20,731
Other debtors 3,994,836 4,734,836
Directors loan 450,000 65,000
4,471,542 4,820,567

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 3,600 3,600
Tax 134,523 181,589
VAT 12,355 13,065
Other creditors 1,611,909 1,259,909
Rent and fees received in
advance 9,578 9,578
Directors' current accounts 300 700
Accrued expenses 13,269 13,268
1,795,534 1,491,709

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 12,500 22,500
Due to subsidiary company 1,181,872 1,703,382
1,204,372 1,735,882

Lanvin Trading Ltd (Registered number: 02496058)

Notes to the Financial Statements - continued
for the Year Ended 28 FEBRUARY 2023

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
50,000 Ordinary £1 50,000 50,000

10. RESERVES
Property
revaluation
reserve
£   
At 1 March 2022
and 28 February 2023 373,000

11. RELATED PARTY DISCLOSURES

Other debtors includes an amount of £2,166,739 due from Open Property Finance Limited, a company of which S Cove and N Cove are directors and shareholders.

Other debtors includes an amount of £1,328,097 due from Kooples Properties Limited, a company of which S Cove is a director and shareholder.

Other debtors includes an amount of £500,000 due from Overnite Bearings limited, a company controlled by a close family member.

Other creditors includes an amount of £358,409 due to Hackett Trading Limited, £168,000 due to Calvin Trading Limited, £1,010,000 due to Bayliss Trading Limited and £45,000 due to Rosewood Holdings and Investments Limited, companies controlled by close family members.

Loan interest received of £108,375 is from Open Property Finance Limited, a company of which Mr S Cove and Mrs N Cove are directors and shareholders.

12. ULTIMATE CONTROLLING PARTY



The company is under the control of Mr S Cove and Mrs N Cove throughout this and the previous period by way of their shareholding.