Company Registration No. 13756357 (England and Wales)
LYELANDS ESTATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
LYELANDS ESTATES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LYELANDS ESTATES LIMITED
Company Registration No. 13756357
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
345,863
123,147
Current assets
Debtors
4
14,066
15,055
Cash at bank and in hand
11,180
12,390
25,246
27,445
Creditors: amounts falling due within one year
5
(446,508)
(179,845)
Net current liabilities
(421,262)
(152,400)
Net liabilities
(75,399)
(29,253)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(75,499)
(29,353)
Total equity
(75,399)
(29,253)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 2 February 2024 and are signed on its behalf by:
C Lye
Director
LYELANDS ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

Lyelands Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is The Old Rectory, Church Street, Weybridge, England, KT13 8DE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The company has net liabilities oftrue £75,399. At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

LYELANDS ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 3 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10% straight line
Plant and equipment
20% straight line
Fixtures and fittings
15% straight line
Motor vehicles
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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. Financial liabilities classified as payable within one year are not amortised.

 

 

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

LYELANDS ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
4
4
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 December 2022
87,334
48,386
135,720
Additions
284,175
1,662
285,837
Disposals
-
0
(22,800)
(22,800)
At 30 November 2023
371,509
27,248
398,757
Depreciation and impairment
At 1 December 2022
8,733
3,840
12,573
Depreciation charged in the year
37,151
5,450
42,601
Eliminated in respect of disposals
-
0
(2,280)
(2,280)
At 30 November 2023
45,884
7,010
52,894
Carrying amount
At 30 November 2023
325,625
20,238
345,863
At 30 November 2022
78,601
44,546
123,147
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
4,417
-
0
Other debtors
9,649
15,055
14,066
15,055
LYELANDS ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Other creditors
446,508
179,845
446,508
179,845
6
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
4,000
4,667
7
Related party transactions

- At the balance sheet date the company owed £112,892 (2022: £44,142) to the director, C Y Lye. This loan is interest free.

 

- At the balance sheet date the company owed £106,225 (2022: £37,475) to the director, D F Lye. This loan is interest free.

 

- At the balance sheet date the company owed £9,475 (2022: £11,975) to the director, I T Kirk. This loan is interest free.

 

- At the balance sheet date the company owed £216,216 (2022: £84,653) to the director, J S Kirk. This loan is interest free

 

2023-11-302022-12-01false02 February 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityC LyeJ KirkI KirkD Lyefalse137563572022-12-012023-11-30137563572023-11-30137563572022-11-3013756357core:LandBuildings2023-11-3013756357core:OtherPropertyPlantEquipment2023-11-3013756357core:LandBuildings2022-11-3013756357core:OtherPropertyPlantEquipment2022-11-3013756357core:CurrentFinancialInstrumentscore:WithinOneYear2023-11-3013756357core:CurrentFinancialInstrumentscore:WithinOneYear2022-11-3013756357core:CurrentFinancialInstruments2023-11-3013756357core:CurrentFinancialInstruments2022-11-3013756357core:ShareCapital2023-11-3013756357core:ShareCapital2022-11-3013756357core:RetainedEarningsAccumulatedLosses2023-11-3013756357core:RetainedEarningsAccumulatedLosses2022-11-3013756357bus:Director12022-12-012023-11-30137563572021-11-212022-11-3013756357core:LandBuildings2022-11-3013756357core:OtherPropertyPlantEquipment2022-11-30137563572022-11-3013756357core:LandBuildings2022-12-012023-11-3013756357core:OtherPropertyPlantEquipment2022-12-012023-11-3013756357core:WithinOneYear2023-11-3013756357core:WithinOneYear2022-11-3013756357bus:PrivateLimitedCompanyLtd2022-12-012023-11-3013756357bus:SmallCompaniesRegimeForAccounts2022-12-012023-11-3013756357bus:FRS1022022-12-012023-11-3013756357bus:AuditExemptWithAccountantsReport2022-12-012023-11-3013756357bus:Director22022-12-012023-11-3013756357bus:Director32022-12-012023-11-3013756357bus:Director42022-12-012023-11-3013756357bus:FullAccounts2022-12-012023-11-30xbrli:purexbrli:sharesiso4217:GBP