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REGISTERED NUMBER: 01927261 (England and Wales)










Lewis Properties (1985) Limited

Unaudited Financial Statements

for the Year Ended 30 June 2023






Lewis Properties (1985) Limited (Registered number: 01927261)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lewis Properties (1985) Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: D A Lewis
H E Byrne





SECRETARY: H E Byrne





REGISTERED OFFICE: 7 Lynwood Court
Priestlands Place
Lymington
Hampshire
SO41 9GA





REGISTERED NUMBER: 01927261 (England and Wales)

Lewis Properties (1985) Limited (Registered number: 01927261)

Balance Sheet
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,692,843 1,704,908
Investment property 5 100 100
1,692,943 1,705,008

CURRENT ASSETS
Debtors 6 20,014 11,917
Cash at bank 79,975 58,801
99,989 70,718
CREDITORS
Amounts falling due within one year 7 (74,681 ) (64,480 )
NET CURRENT ASSETS 25,308 6,238
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,718,251

1,711,246

PROVISIONS FOR LIABILITIES (145,970 ) (147,786 )
NET ASSETS 1,572,281 1,563,460

CAPITAL AND RESERVES
Called up share capital 8 600 600
Revaluation reserve 1,086,923 1,086,923
Retained earnings 484,758 475,937
SHAREHOLDERS' FUNDS 1,572,281 1,563,460

Lewis Properties (1985) Limited (Registered number: 01927261)

Balance Sheet - continued
30 June 2023


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

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

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 Proft and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 February 2024 and were signed on its behalf by:





D A Lewis - Director


Lewis Properties (1985) Limited (Registered number: 01927261)

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

1. GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Compass House
50 Gosport Street
Lymington
Hampshire
SO41 9BB

2. ACCOUNTING POLICIES

BASIS OF PREPARATION
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentational currency is pound sterling.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND KEY ACCOUNTING ESTIMATES
The principal accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all the years presented, unless otherwise stated.

STATEMENT OF COMPLIANCE
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A.
- The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

EXEMPTION FROM PREPARING GROUP ACCOUNTS
The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

TANGIBLE ASSETS
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated
depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and
installation.

Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset classDepreciation method and rate
Freehold / long leasehold propertiesNot depreciated
Short leasehold propertiesStraight line over the life of the lease
Fixtures and fittings25% reducing balance basis

Lewis Properties (1985) Limited (Registered number: 01927261)

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

2. ACCOUNTING POLICIES - continued

INVESTMENT PROPERTY
Investment properties are carried at fair value, determined annually by the directors. The valuers use observable market data, adjusted if necessary for any difference in the nature, location or condition of the specific asset.Changes in fair value are recognised in profit or loss.

Fair value gains and losses along with the associated deferred tax are transferred to a separate revaluation
reserve as shown in the statement of changes in equity.

FIXED ASSET INVESTMENTS
Fixed asset investments are stated at historical cost less provision for any diminution in value.

CURRENT ASSET INVESTMENTS
Current asset investments are included in the accounts at market value. Gains and losses are recognised in the profit and loss account or the statement of total recognised gains and losses.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Proft and Loss Account, 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.

GOING CONCERN
The financial statements have been prepared on a going concern basis.

REVENUE RECOGNITION
Turnover comprises the fair value of the consideration received or receivable in respect of rent and services
provided in the UK in the ordinary course of the company’s activities. Turnover is shown net of sales/value
added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

HIRE PURCHASE AND LEASING
Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Lewis Properties (1985) Limited (Registered number: 01927261)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2022 1,667,872 327,737 48,900 - 2,044,509
Additions - - - 333 333
At 30 June 2023 1,667,872 327,737 48,900 333 2,044,842
DEPRECIATION
At 1 July 2022 - 327,376 12,225 - 339,601
Charge for year - 90 12,225 83 12,398
At 30 June 2023 - 327,466 24,450 83 351,999
NET BOOK VALUE
At 30 June 2023 1,667,872 271 24,450 250 1,692,843
At 30 June 2022 1,667,872 361 36,675 - 1,704,908

Revaluation
The fair value of the company's freehold and long leasehold investment properties was revalued on 4 June 2012 by Burgoyne Johnston Evans, Chartered Surveyors, who is external to the company. The basis of this valuation was open market. The class of assets has a current value of £1,667,872 (2021 - £1,667,872) and a carrying amount at historical cost of £431,468 (2021 - £431,468).

The directors believe that the valuation dated 4 June 2012 remains an accurate reflection of the market value of the properties as at 30 June 2022.

The last full valuation of freehold and long leasehold investment properties was carried out on 4 June 2012.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2022
and 30 June 2023 100
NET BOOK VALUE
At 30 June 2023 100
At 30 June 2022 100

Lewis Properties (1985) Limited (Registered number: 01927261)

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

5. INVESTMENT PROPERTY - continued

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the
company holds 20% or more of the nominal value of any class of share capital are as follows:


Undertaking

Registered office

Holding
Proportion of voting rights
and shares held
20212020
Subsidiary undertakings
A.E. Lewis & Son LimitedCompass House,Ordiniary100%100%
50 Gosport Street,shares
Lymington,
Hampshire,
SO41 9BB

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Sales control account 23,494 8,200
VAT (4,641 ) 2,248
Prepayments and accrued income 1,161 1,469
20,014 11,917

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 6,425 2,909
Amounts owed to group undertakings 11,783 11,783
Corporation tax 3,809 647
Social security and other tax 4,283 4,372
Other creditors 1,200 1,200
Directors' current accounts 4,500 2,815
Accruals and deferred income 42,681 40,754
74,681 64,480

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
600 Ordinary shares £1 600 600