IRIS Accounts Production v23.4.0.336 12580783 Board of Directors 1.10.22 30.9.23 30.9.23 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh125807832022-09-30125807832023-09-30125807832022-10-012023-09-30125807832021-09-30125807832021-10-012022-09-30125807832022-09-3012580783ns15:EnglandWales2022-10-012023-09-3012580783ns14:PoundSterling2022-10-012023-09-3012580783ns10:Director12022-10-012023-09-3012580783ns10:PrivateLimitedCompanyLtd2022-10-012023-09-3012580783ns10:SmallEntities2022-10-012023-09-3012580783ns10:AuditExempt-NoAccountantsReport2022-10-012023-09-3012580783ns10:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3012580783ns10:SmallCompaniesRegimeForAccounts2022-10-012023-09-3012580783ns10:FullAccounts2022-10-012023-09-3012580783ns10:OrdinaryShareClass12022-10-012023-09-3012580783ns10:Director22022-10-012023-09-3012580783ns10:RegisteredOffice2022-10-012023-09-3012580783ns5:CurrentFinancialInstruments2023-09-3012580783ns5:CurrentFinancialInstruments2022-09-3012580783ns5:Non-currentFinancialInstruments2023-09-3012580783ns5:Non-currentFinancialInstruments2022-09-3012580783ns5:ShareCapital2023-09-3012580783ns5:ShareCapital2022-09-3012580783ns5:FurtherSpecificReserve3ComponentTotalEquity2023-09-3012580783ns5:FurtherSpecificReserve3ComponentTotalEquity2022-09-3012580783ns5:RetainedEarningsAccumulatedLosses2023-09-3012580783ns5:RetainedEarningsAccumulatedLosses2022-09-3012580783ns5:LeaseholdImprovements2022-10-012023-09-3012580783ns5:PlantMachinery2022-10-012023-09-3012580783ns5:MotorVehicles2022-10-012023-09-3012580783ns5:LeaseholdImprovements2022-09-3012580783ns5:PlantMachinery2022-09-3012580783ns5:MotorVehicles2022-09-3012580783ns5:LeaseholdImprovements2023-09-3012580783ns5:PlantMachinery2023-09-3012580783ns5:MotorVehicles2023-09-3012580783ns5:LeaseholdImprovements2022-09-3012580783ns5:PlantMachinery2022-09-3012580783ns5:MotorVehicles2022-09-3012580783ns5:CostValuation2022-09-3012580783ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3012580783ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-3012580783ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-09-3012580783ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-09-3012580783ns10:OrdinaryShareClass12023-09-3012580783ns5:FurtherSpecificReserve3ComponentTotalEquity2022-09-30
REGISTERED NUMBER: 12580783 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Lace Market Point Holdings Limited

Lace Market Point Holdings Limited (Registered number: 12580783)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lace Market Point Holdings Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mr S A Monk
Mr R S Monk





REGISTERED OFFICE: 2 Pemberton Street
Nottingham
Nottinghamshire
NG1 1GS





REGISTERED NUMBER: 12580783 (England and Wales)





ACCOUNTANTS: Franklins
1 Pinnacle Way
Pride Park
Derby
Derbyshire
DE24 8ZS

Lace Market Point Holdings Limited (Registered number: 12580783)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,754,367 2,762,657
Investments 5 100 100
Investment property 6 21,269,648 20,269,648
24,024,115 23,032,405

CURRENT ASSETS
Debtors 7 203,579 237,838
Cash at bank 121,354 25,760
324,933 263,598
CREDITORS
Amounts falling due within one year 8 1,446,721 2,477,756
NET CURRENT LIABILITIES (1,121,788 ) (2,214,158 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,902,327

20,818,247

CREDITORS
Amounts falling due after more than one
year

9

(15,289,311

)

(13,180,294

)

PROVISIONS FOR LIABILITIES (1,352,512 ) (1,029,949 )
NET ASSETS 6,260,504 6,608,004

CAPITAL AND RESERVES
Called up share capital 10 100 100
Non distributable reserve 11 3,936,378 3,089,846
Retained earnings 2,324,026 3,518,058
SHAREHOLDERS' FUNDS 6,260,504 6,608,004

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Lace Market Point Holdings Limited (Registered number: 12580783)

Balance Sheet - continued
30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2024 and were signed on its behalf by:





Mr S A Monk - Director


Lace Market Point Holdings Limited (Registered number: 12580783)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Lace Market Point Holdings 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.

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.

Preparation of consolidated financial statements
The financial statements contain information about Lace Market Point Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group.

Turnover
Turnover is the fair value of the rents received in the period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Integral Features - 2% on cost
Plant and machinery - 20% on cost
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 Statement of Income and Retained Earnings, 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 2 (2022 - 2 ) .

Lace Market Point Holdings Limited (Registered number: 12580783)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Integral Plant and Motor
Features machinery vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 October 2022 1,953,808 916,900 22,280 2,892,988
Revaluations 39,076 89,634 - 128,710
At 30 September 2023 1,992,884 1,006,534 22,280 3,021,698
DEPRECIATION
At 1 October 2022 38,310 86,451 5,570 130,331
Charge for year 39,076 93,746 4,178 137,000
At 30 September 2023 77,386 180,197 9,748 267,331
NET BOOK VALUE
At 30 September 2023 1,915,498 826,337 12,532 2,754,367
At 30 September 2022 1,915,498 830,449 16,710 2,762,657

Cost or valuation at 30 September 2023 is represented by:

Integral Plant and Motor
Features machinery vehicles Totals
£    £    £    £   
Valuation in 2023 1,992,884 985,973 - 2,978,857
Cost - 20,561 22,280 42,841
1,992,884 1,006,534 22,280 3,021,698

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2022
and 30 September 2023 100
NET BOOK VALUE
At 30 September 2023 100
At 30 September 2022 100

Lace Market Point Holdings Limited (Registered number: 12580783)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 20,269,648
Revaluations 1,000,000
At 30 September 2023 21,269,648
NET BOOK VALUE
At 30 September 2023 21,269,648
At 30 September 2022 20,269,648

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2023 21,269,648

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 16,269,648 16,269,648

Investment property was valued on an open market basis on 30 September 2023 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 83,732 142,412
Other debtors 61,043 36,520
Prepayments and accrued income 58,804 58,906
203,579 237,838

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 193,304 189,992
Hire purchase contracts 2,366 1,826
Trade creditors 37,782 58,788
VAT 1,550 2,514
Other creditors 1,040,402 2,068,879
Accruals and deferred income 171,317 155,757
1,446,721 2,477,756

Lace Market Point Holdings Limited (Registered number: 12580783)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 15,273,756 13,162,373
Hire purchase contracts 15,555 17,921
15,289,311 13,180,294

10. CALLED UP SHARE CAPITAL

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

11. RESERVES
Non
distributable
reserve
£   
At 1 October 2022 3,089,846
Non distributable reserve 1,128,710
Deferred tax (282,178 )

At 30 September 2023 3,936,378

12. RELATED PARTY DISCLOSURES

The balance outstanding on interest free loans provided to companies with common directors and under common control amounted to £59,048(2022: £25,576).

The balance outstanding on interest free loans provided from companies with common directors and under common control amounted to £1,040,402 (2022:£1,868,879).