Company Registration No. 12289176 (England and Wales)
Lance Investments Limited
Unaudited accounts
for the year ended 31 May 2023
Lance Investments Limited
Unaudited accounts
Contents
Lance Investments Limited
Company Information
for the year ended 31 May 2023
Director
Mark Jonathan Lance
Company Number
12289176 (England and Wales)
Lance Investments Limited
Statement of financial position
as at 31 May 2023
Investments
4,882,095
4,551,147
Investments
65,916
181,104
Cash at bank and in hand
428
127
Creditors: amounts falling due within one year
(5,006,805)
(7,138)
Net current (liabilities)/assets
(4,882,519)
174,093
Total assets less current liabilities
(424)
4,725,240
Creditors: amounts falling due after more than one year
-
(4,901,389)
Net liabilities
(424)
(176,149)
Called up share capital
100
100
Revaluation reserve
(173,828)
(440,836)
Profit and loss account
173,304
264,587
Shareholders' funds
(424)
(176,149)
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 February 2024 and were signed on its behalf by
Mark Jonathan Lance
Director
Company Registration No. 12289176
Lance Investments Limited
Notes to the Accounts
for the year ended 31 May 2023
Lance Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 12289176.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
4
Investments
Other investments
Valuation at 1 June 2022
4,551,147
Fair value adjustments
180,913
Valuation at 31 May 2023
4,882,095
Listed investments are recognised initially at cost less attributable transaction costs. Subsequent to initial recognition, they are
revalued to fair value at the reporting date. Any changes in fair value are recognised in profit and loss.
Amounts falling due within one year
Deferred tax asset
57,942
-
6
Investments held as current assets
2023
2022
Listed investments
65,916
181,104
Lance Investments Limited
Notes to the Accounts
for the year ended 31 May 2023
7
Creditors: amounts falling due within one year
2023
2022
Amounts owed to group undertakings and other participating interests
5,006,689
-
Taxes and social security
116
5,007
8
Creditors: amounts falling due after more than one year
2023
2022
Amounts owed to group undertakings and other participating interests
-
4,901,389
9
Deferred taxation
2023
2022
Other deferred taxation
(57,942)
-
Credited to other comprehensive income
(57,942)
-
Provision at end of year
(57,942)
-
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.
10
Transactions with related parties
At the balance sheet date, Lance Investments Limited owed Lance Holdings Limited £5,006,689 (2022 - £4,901,389). Lance Holdings Limited is the parent of Lance Investments Limited.
All trade debtor & creditor transactions between related parties were all made at arms length.
The company was under the control of Lance Holdings Limited
12
Average number of employees
During the year the average number of employees was 0 (2022: 0).