1 false false false false false false false false false true false false false false false false No description of principal activity 2022-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 8,000 8,000 263,000 42,000 221,000 221,000 xbrli:pure xbrli:shares iso4217:GBP 3262645 2022-07-01 2023-06-30 3262645 2023-06-30 3262645 2022-06-30 3262645 2021-07-01 2022-06-30 3262645 2022-06-30 3262645 2021-06-30 3262645 core:NetGoodwill 2022-07-01 2023-06-30 3262645 core:FurnitureFittings 2022-07-01 2023-06-30 3262645 core:MotorVehicles 2022-07-01 2023-06-30 3262645 bus:Director1 2022-07-01 2023-06-30 3262645 core:NetGoodwill 2023-06-30 3262645 core:FurnitureFittings 2022-06-30 3262645 core:MotorVehicles 2022-06-30 3262645 core:FurnitureFittings 2023-06-30 3262645 core:WithinOneYear 2023-06-30 3262645 core:WithinOneYear 2022-06-30 3262645 core:AfterOneYear 2023-06-30 3262645 core:AfterOneYear 2022-06-30 3262645 core:ShareCapital 2023-06-30 3262645 core:ShareCapital 2022-06-30 3262645 core:RetainedEarningsAccumulatedLosses 2023-06-30 3262645 core:RetainedEarningsAccumulatedLosses 2022-06-30 3262645 core:CostValuation core:Non-currentFinancialInstruments 2023-06-30 3262645 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-06-30 3262645 core:Non-currentFinancialInstruments 2023-06-30 3262645 core:Non-currentFinancialInstruments 2022-06-30 3262645 core:FurnitureFittings 2022-06-30 3262645 core:MotorVehicles 2022-06-30 3262645 bus:Director1 2022-06-30 3262645 bus:Director1 2021-06-30 3262645 bus:Director1 2022-06-30 3262645 bus:Director1 2021-07-01 2022-06-30 3262645 bus:SmallEntities 2022-07-01 2023-06-30 3262645 bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 3262645 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 3262645 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 3262645 bus:FullAccounts 2022-07-01 2023-06-30
COMPANY REGISTRATION NUMBER: 3262645
Trevor Michael Lazenbury Limited
Filleted Unaudited Financial Statements
30 June 2023
Trevor Michael Lazenbury Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
14,332
50,769
Investments
7
221,000
221,000
---------
---------
235,332
271,769
Current assets
Stocks
13,000
12,500
Debtors
8
2,240,896
1,988,011
Cash at bank and in hand
145,017
108,557
------------
------------
2,398,913
2,109,068
Creditors: amounts falling due within one year
9
571,917
499,634
------------
------------
Net current assets
1,826,996
1,609,434
------------
------------
Total assets less current liabilities
2,062,328
1,881,203
Creditors: amounts falling due after more than one year
10
20,739
68,516
------------
------------
Net assets
2,041,589
1,812,687
------------
------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
2,041,489
1,812,587
------------
------------
Shareholders funds
2,041,589
1,812,687
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Trevor Michael Lazenbury Limited
Statement of Financial Position (continued)
30 June 2023
These financial statements were approved by the board of directors and authorised for issue on 24 April 2024 , and are signed on behalf of the board by:
T M Lazenbury Esq
Director
Company registration number: 3262645
Trevor Michael Lazenbury Limited
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is TML House, 1a The Anchorage, Gosport, Hampshire, P012 1LY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixture and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
20 % reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Intangible assets
Goodwill
£
Cost
At 1 July 2022 and 30 June 2023
8,000
-------
Amortisation
At 1 July 2022 and 30 June 2023
8,000
-------
Carrying amount
At 30 June 2023
-------
At 30 June 2022
-------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 July 2022
24,785
48,573
109,441
182,799
Additions
4,933
4,933
Disposals
( 48,573)
( 48,573)
--------
--------
---------
---------
At 30 June 2023
24,785
114,374
139,159
--------
--------
---------
---------
Depreciation
At 1 July 2022
22,744
12,143
97,143
132,030
Charge for the year
447
4,493
4,940
Disposals
( 12,143)
( 12,143)
--------
--------
---------
---------
At 30 June 2023
23,191
101,636
124,827
--------
--------
---------
---------
Carrying amount
At 30 June 2023
1,594
12,738
14,332
--------
--------
---------
---------
At 30 June 2022
2,041
36,430
12,298
50,769
--------
--------
---------
---------
7. Investments
Shares in group undertakings
£
Cost
At 1 July 2022 and 30 June 2023
263,000
---------
Impairment
At 1 July 2022 and 30 June 2023
42,000
---------
Carrying amount
At 30 June 2023
221,000
---------
At 30 June 2022
221,000
---------
8. Debtors
2023
2022
£
£
Trade debtors
209,136
220,140
Other debtors
2,031,760
1,767,871
------------
------------
2,240,896
1,988,011
------------
------------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
1,206
Trade creditors
354,401
302,825
Corporation tax
44,483
56,399
Social security and other taxes
23,445
19,572
Other creditors
148,382
120,838
---------
---------
571,917
499,634
---------
---------
10. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
20,739
44,067
Other creditors
24,449
--------
--------
20,739
68,516
--------
--------
11. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
T M Lazenbury Esq
( 280)
280
----
----
----
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
T M Lazenbury Esq
( 233)
( 47)
( 280)
----
----
----
12. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
Balance owed by/(owed to)
2023
2022
2023
2022
£
£
£
£
Lazenbury Ltd
161,475
(17,039)
1,647,739
1,486,264
Canterfield Ltd
54,593
32,200
225,625
171,032
BRO UK Limited
47,821
14,500
72,751
24,930
NTL Enterprises Limited
45,000
85,000
85,000
Lazenbury House Limited
188
( 24,812)
( 24,812)
Lazenbury Woodland (IOW) Limited
515
515
515
---------
--------
------------
------------