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REGISTERED NUMBER: 00920798 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Lamba Trading Co. Limited

Lamba Trading Co. Limited (Registered number: 00920798)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lamba Trading Co. Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mrs B K Lamba
Mrs K Lamba
K R Lamba
A I Lamba





REGISTERED OFFICE: 3 Park Square
Leeds
LS1 2NE





REGISTERED NUMBER: 00920798 (England and Wales)





ACCOUNTANTS: Charles Stewart & Co Limited
Chartered Accountants
3 Park Square
Leeds
LS1 2NE

Lamba Trading Co. Limited (Registered number: 00920798)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,907 495,145
Investment property 5 12,354,238 10,774,239
12,359,145 11,269,384

CURRENT ASSETS
Debtors 6 124,110 166,937
Investments 7 832,002 1,047,152
Cash at bank and in hand 3,060,554 2,439,200
4,016,666 3,653,289
CREDITORS
Amounts falling due within one year 8 563,307 447,454
NET CURRENT ASSETS 3,453,359 3,205,835
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,812,504

14,475,219

PROVISIONS FOR LIABILITIES 9 117,032 126,089
NET ASSETS 15,695,472 14,349,130

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 3,700,075 2,701,846
Retained earnings 11 11,995,297 11,647,184
SHAREHOLDERS' FUNDS 15,695,472 14,349,130

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Lamba Trading Co. Limited (Registered number: 00920798)

Balance Sheet - continued
31 March 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 23 November 2023 and were signed on its behalf by:





A I Lamba - Director


Lamba Trading Co. Limited (Registered number: 00920798)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Lamba Trading Co. 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 goods sold in the period net of value added tax and derives from the company's ordinary activities.

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 - 2% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are included at cost less accumulated depreciation.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Lamba Trading Co. Limited (Registered number: 00920798)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Rents receivable
Rents receivable represents rents due in the period net of value added tax.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2022 790,829 125,106 15,314 931,249
Additions - 2,580 - 2,580
Disposals - (3,400 ) - (3,400 )
Reclassification/transfer (790,829 ) - - (790,829 )
At 31 March 2023 - 124,286 15,314 139,600
DEPRECIATION
At 1 April 2022 347,970 74,864 13,270 436,104
Charge for year 15,817 48,957 511 65,285
Eliminated on disposal - (2,909 ) - (2,909 )
Reclassification/transfer (363,787 ) - - (363,787 )
At 31 March 2023 - 120,912 13,781 134,693
NET BOOK VALUE
At 31 March 2023 - 3,374 1,533 4,907
At 31 March 2022 442,859 50,242 2,044 495,145

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 10,774,239
Disposals (70,000 )
Revaluations 1,222,957
Reclassification/transfer 427,042
At 31 March 2023 12,354,238
NET BOOK VALUE
At 31 March 2023 12,354,238
At 31 March 2022 10,774,239

Lamba Trading Co. Limited (Registered number: 00920798)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. INVESTMENT PROPERTY - continued

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2021 2,191,182
Valuation in 2023 1,222,957
Cost 8,940,099
12,354,238

The investment properties were valued on an open market value basis on 31 March 2023 by the Directors. If the properties were sold at this valuation then no tax would be payable as any gain would be covered by indexation allowance.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 119,562 162,554
Prepayments and sundry debtors 4,548 4,383
124,110 166,937

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Listed investments at fair value 832,002 1,047,152

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 1,129 588
Tax 146,826 148,629
Social security and other taxes 49,347 38,200
Directors current accounts 28,270 10,602
Accruals and deferred income 337,735 249,435
563,307 447,454

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 91,374 100,431
Other timing differences 25,658 25,658
117,032 126,089

Lamba Trading Co. Limited (Registered number: 00920798)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2022 126,089
Credit to the income statement (9,057 )
during the year
Balance at 31 March 2023 117,032

10. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2022 11,647,184 2,701,846 14,349,030
Profit for the year 1,631,342 1,631,342
Dividends (285,000 ) (285,000 )
Transfer of realised profit 4,241 (4,241 ) -
Fair value gain (1,002,470 ) 1,002,470 -
At 31 March 2023 11,995,297 3,700,075 15,695,372

During the year, transfers were made to the fair value reserve from retained earnings being the unrealised loss on quoted investments and the unrealised gain on fair value of investment property.

A transfer was also made to retained earnings from fair value reserve being the realised gain on sale of investment property in the year.

These transfers were to ensure the distributable profits of the company are correctly stated.

12. RELATED PARTY DISCLOSURES

During the year, total dividends of £142,500 (2022 - £57,000) were paid to the directors .

13. CONTROL

The directors have no reason to believe that any one individual has overall control.