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REGISTERED NUMBER: 01472918 (England and Wales)















Lonsdale Properties Limited

Unaudited Financial Statements

for the Year Ended 30 June 2023






Lonsdale Properties Limited (Registered number: 01472918)






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


Lonsdale Properties Limited

Company Information
for the year ended 30 June 2023







DIRECTORS: RW Waite
Mrs PE Waite
DW Waite





SECRETARY: Mrs PE Waite





REGISTERED OFFICE: The Post House
Newton in Cartmel
Grange Over Sands
Cumbria
LA11 6JQ





REGISTERED NUMBER: 01472918 (England and Wales)





ACCOUNTANTS: McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Lonsdale Properties Limited (Registered number: 01472918)

Balance Sheet
30 June 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 5,836 6,127
Investment property 5 1,014,410 1,014,410
1,020,246 1,020,537

CURRENT ASSETS
Cash at bank 374,776 466,395

CREDITORS
Amounts falling due within one year 6 370,269 328,800
NET CURRENT ASSETS 4,507 137,595
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,024,753

1,158,132

CREDITORS
Amounts falling due after more than one
year

7

(470,000

)

(550,000

)

PROVISIONS FOR LIABILITIES 8 (1,459 ) (1,164 )
NET ASSETS 553,294 606,968

CAPITAL AND RESERVES
Called up share capital 9 100 100
Revaluation reserve 10 228,033 228,033
Retained earnings 325,161 378,835
SHAREHOLDERS' FUNDS 553,294 606,968

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.

Lonsdale Properties Limited (Registered number: 01472918)

Balance Sheet - continued
30 June 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 12 March 2024 and were signed on its behalf by:





RW Waite - Director


Lonsdale Properties Limited (Registered number: 01472918)

Notes to the Financial Statements
for the year ended 30 June 2023

1. STATUTORY INFORMATION

Lonsdale Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The amounts in the financial statements have been rounded to the nearest £1.

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.

Turnover
Turnover represents rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 20% on cost
Fixtures and fittings - 15% on reducing balance

Investment property
In accordance with Statement of Standard Accounting Practice No 19, the company's properties are held for long term investment and are included in the balance sheet at their open market values. The surpluses or deficits on annual revaluation of such properties are transferred to the investment property revaluation reserve. Depreciation is not provided in respect of freehold investment properties. Leasehold investment properties are not amortised where the unexpired term is over twenty years. This policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors' consider that this policy is necessary in order that the financial statements may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

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.


Lonsdale Properties Limited (Registered number: 01472918)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

2. ACCOUNTING POLICIES - continued
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 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
Equipment fittings Totals
£ £ £
COST
At 1 July 2022 2,239 26,445 28,684
Additions 711 - 711
At 30 June 2023 2,950 26,445 29,395
DEPRECIATION
At 1 July 2022 2,239 20,318 22,557
Charge for year 83 919 1,002
At 30 June 2023 2,322 21,237 23,559
NET BOOK VALUE
At 30 June 2023 628 5,208 5,836
At 30 June 2022 - 6,127 6,127

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 July 2022
and 30 June 2023 1,014,410
NET BOOK VALUE
At 30 June 2023 1,014,410
At 30 June 2022 1,014,410

One investment property was valued at market value of £425,000 by Carigiet Cowen, Chartered Surveyors, as at 17 April 2008. The directors consider this to be the market value at 30 June 2023. The remaining properties have been valued by the directors at £589,410 which the directors consider to be their market value at 30 June 2023. On a historical cost basis, the land and buildings would have been included at £786,377 (2022: £786,377).

Lonsdale Properties Limited (Registered number: 01472918)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Corporation tax 10,367 9,814
Social security and other taxes 1,326 979
VAT 1,371 13,822
Other creditors 131,472 98,472
Directors' current accounts 215,508 141,496
Accruals and deferred income 10,225 64,217
370,269 328,800

Included within other creditors are amounts due to directors of £215,508 (2022: £141,496). These amounts are unsecured, interest free and has no fixed repayment date.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Other creditors 250,000 250,000
Directors' loan accounts 220,000 300,000
470,000 550,000

Included within other creditors are amounts due to directors of £220,000 (2022: £300,000). These amounts are unsecured, interest free and has no fixed repayment date.

8. PROVISIONS FOR LIABILITIES
2023 2022
£ £
Deferred tax
Accelerated capital allowances 1,459 1,164

Deferred tax
£
Balance at 1 July 2022 1,164
Provided during year 295
Balance at 30 June 2023 1,459

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
27 Ordinary A £1 27 27
25 Ordinary B £1 25 25
24 Ordinary C £1 24 24
24 Ordinary D £1 24 24
100 100

Lonsdale Properties Limited (Registered number: 01472918)

Notes to the Financial Statements - continued
for the year ended 30 June 2023

10. RESERVES
Revaluation
reserve
£
At 1 July 2022
and 30 June 2023 228,033

11. RELATED PARTY DISCLOSURES

In the opinion of the directors the company is controlled by Mr & Mrs RW Waite.