Caseware UK (AP4) 2022.0.179 2022.0.179 2023-06-302023-06-302022-07-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 08551028 2022-07-01 2023-06-30 08551028 2021-07-01 2022-06-30 08551028 2023-06-30 08551028 2022-06-30 08551028 2021-07-01 08551028 c:Director1 2022-07-01 2023-06-30 08551028 d:FreeholdInvestmentProperty 2023-06-30 08551028 d:FreeholdInvestmentProperty 2022-06-30 08551028 d:CurrentFinancialInstruments 2023-06-30 08551028 d:CurrentFinancialInstruments 2022-06-30 08551028 d:Non-currentFinancialInstruments 2023-06-30 08551028 d:Non-currentFinancialInstruments 2022-06-30 08551028 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 08551028 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 08551028 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 08551028 d:Non-currentFinancialInstruments d:AfterOneYear 2022-06-30 08551028 d:ShareCapital 2023-06-30 08551028 d:ShareCapital 2022-06-30 08551028 d:RetainedEarningsAccumulatedLosses 2023-06-30 08551028 d:RetainedEarningsAccumulatedLosses 2022-06-30 08551028 c:FRS102 2022-07-01 2023-06-30 08551028 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 08551028 c:FullAccounts 2022-07-01 2023-06-30 08551028 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 08551028 2 2022-07-01 2023-06-30 08551028 4 2022-07-01 2023-06-30 08551028 d:RetirementBenefitObligationsDeferredTax 2023-06-30 08551028 d:RetirementBenefitObligationsDeferredTax 2022-06-30 08551028 e:PoundSterling 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 08551028










LAMBERHURST WINERY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

 
LAMBERHURST WINERY LIMITED
REGISTERED NUMBER:08551028

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 4 
2,650,000
2,650,000

Current assets
  

Debtors: amounts falling due within one year
 5 
351,841
832,063

Cash at bank and in hand
 6 
188,133
106,579

  
539,974
938,642

Creditors: amounts falling due within one year
 7 
(195,956)
(158,856)

Net current assets
  
 
 
344,018
 
 
779,786

Total assets less current liabilities
  
2,994,018
3,429,786

Creditors: amounts falling due after more than one year
 8 
(2,011,186)
(2,011,186)

Provisions for liabilities
  

Deferred tax
  
(77,023)
(102,181)

  
 
 
(77,023)
 
 
(102,181)

Net assets
  
905,809
1,316,419


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
905,808
1,316,418

  
905,809
1,316,419


Page 1

 
LAMBERHURST WINERY LIMITED
REGISTERED NUMBER:08551028
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 





B Gold
Director

Date: 15 February 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
LAMBERHURST WINERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Lamberhurst Winery Limited is a private company, limited by shares, registered in England and Wales, registration number 08551028. The registered office and trading address is 4 Churchill Court, Hortons Way, Westerham, Kent, TN16 1BT.
The principal activity of the company during the year continued to be that of property rental. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis in the expectation of continuing support from the directors.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
2.4

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

  
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers or the directors based on the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Page 3

 
LAMBERHURST WINERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.9

Creditors

Short term creditors are measured at the transaction price.

Page 4

 
LAMBERHURST WINERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.10

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting 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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The Company has no employees other than the directors. The directors do not consider there to be any key management personnel other than the directors.


The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
LAMBERHURST WINERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

4.


Investment property


Freehold investment property

£



Valuation


At 1 July 2022
2,650,000



At 30 June 2023
2,650,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.



If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2023
2022
£
£


Historic cost
3,473,705
3,473,705


5.


Debtors

2023
2022
£
£


Trade debtors
92,074
74,380

Other debtors
250,000
750,000

Prepayments and accrued income
9,767
7,683

351,841
832,063



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
188,133
106,579


Page 6

 
LAMBERHURST WINERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
17,268
21,789

Corporation tax
48,078
21,799

Other taxation and social security
12,157
3,555

Other creditors
62,643
58,531

Accruals and deferred income
55,810
53,182

195,956
158,856



8.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Other creditors
2,011,186
2,011,186


R Gold has indicated that he will not seek repayment in less than one year.


9.


Deferred taxation




2023
2022


£

£






At beginning of year
(102,181)
(77,181)


Credited/(charged) to profit or loss
25,158
(25,000)



At end of year
(77,023)
(102,181)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Property Revaluation
77,023
102,181

Page 7

 
LAMBERHURST WINERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

10.


Related party transactions

R Gold, a director and the sole shareholder, has advanced the company £2,011,186 (2022: £2,011,186). The advance is interest free.
The provision against irrecoverable debts set out in note 4 is in respect of a company in which the director and shareholder has a material interest.


11.


Controlling party

The controlling party is R Gold.

 
Page 8