2022-03-012023-02-282023-02-28false08507031LASCAUX 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LASCAUX LIMITED

Registered Number
08507031
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

LASCAUX LIMITED
Company Information
for the year from 1 March 2022 to 28 February 2023

Directors

C R Taylor
J A Taylor

Company Secretary

J A Taylor

Registered Address

Petram House
Gateway
London
SE17 3FT

Registered Number

08507031 (England and Wales)
LASCAUX LIMITED
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets54,2315,642
Investments6100100
Investment property76,030,1406,030,140
6,034,4716,035,882
Current assets
Debtors8172,186243,603
Cash at bank and on hand24,682900
196,868244,503
Creditors amounts falling due within one year9(4,979,774)(5,117,879)
Net current assets (liabilities)(4,782,906)(4,873,376)
Total assets less current liabilities1,251,5651,162,506
Creditors amounts falling due after one year10(1,022,500)(1,032,363)
Provisions for liabilities11-(3,557)
Net assets229,065126,586
Capital and reserves
Called up share capital100100
Profit and loss account228,965126,486
Shareholders' funds229,065126,586
The financial statements were approved and authorised for issue by the Board of Directors on 5 January 2024, and are signed on its behalf by:
J A Taylor
Director
Registered Company No. 08507031
LASCAUX LIMITED
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
Lascaux Limited is a private company limited by shares incorporated in England and Wales (registered number: 08507031). The registered office is Petram House, Gateway, London, England, SE17 3FT. The principal activity of the company continued to be that of property development and investment. The financial statements are presented in Sterling, which is the functional currency of the company.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investment property policy
Investment property is carried at fair value determined annually by the directors and derived from 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 profit or loss.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
4.Employee information

20232022
Average number of employees during the year22
5.Property, plant and equipment

Fixtures & fittings

Total

££
Cost or valuation
At 01 March 228,4788,478
At 28 February 238,4788,478
Depreciation and impairment
At 01 March 222,8362,836
Charge for year1,4111,411
At 28 February 234,2474,247
Net book value
At 28 February 234,2314,231
At 28 February 225,6425,642
6.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 March 22100100
At 28 February 23100100
Net book value
At 28 February 23100100
At 28 February 22100100

Notes

1Investments in group undertakings and participating interests
7.Investment property

£
Fair value at 01 March 226,030,140
At 28 February 236,030,140
8.Debtors

2023

2022

££
Other debtors172,186243,603
Total172,186243,603
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Trade creditors / trade payables38759
Bank borrowings and overdrafts10,0009,717
Taxation and social security47,93210,004
Other creditors4,914,8545,094,616
Accrued liabilities and deferred income6,6013,483
Total4,979,7745,117,879
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts22,50032,363
Other creditors1,000,0001,000,000
Total1,022,5001,032,363
11.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)-3,557
Total-3,557