2 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 36,000 19,900 16,100 16,100 xbrli:pure xbrli:shares iso4217:GBP 4005933 2022-07-01 2023-06-30 4005933 2023-06-30 4005933 2022-06-30 4005933 2021-07-01 2022-06-30 4005933 2022-06-30 4005933 2021-06-30 4005933 core:FurnitureFittings 2022-07-01 2023-06-30 4005933 core:MotorVehicles 2022-07-01 2023-06-30 4005933 bus:Director1 2022-07-01 2023-06-30 4005933 core:LandBuildings core:OwnedOrFreeholdAssets 2022-06-30 4005933 core:LandBuildings core:LongLeaseholdAssets 2022-06-30 4005933 core:FurnitureFittings 2022-06-30 4005933 core:MotorVehicles 2022-06-30 4005933 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 4005933 core:LandBuildings core:LongLeaseholdAssets 2023-06-30 4005933 core:FurnitureFittings 2023-06-30 4005933 core:MotorVehicles 2023-06-30 4005933 core:LandBuildings core:OwnedOrFreeholdAssets 2022-07-01 2023-06-30 4005933 core:LandBuildings core:LongLeaseholdAssets 2022-07-01 2023-06-30 4005933 core:AfterOneYear 2023-06-30 4005933 core:AfterOneYear 2022-06-30 4005933 core:WithinOneYear 2023-06-30 4005933 core:WithinOneYear 2022-06-30 4005933 core:ShareCapital 2023-06-30 4005933 core:ShareCapital 2022-06-30 4005933 core:OtherReservesSubtotal 2023-06-30 4005933 core:OtherReservesSubtotal 2022-06-30 4005933 core:RetainedEarningsAccumulatedLosses 2023-06-30 4005933 core:RetainedEarningsAccumulatedLosses 2022-06-30 4005933 core:CostValuation core:Non-currentFinancialInstruments 2023-06-30 4005933 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-06-30 4005933 core:Non-currentFinancialInstruments 2023-06-30 4005933 core:Non-currentFinancialInstruments 2022-06-30 4005933 core:LandBuildings core:OwnedOrFreeholdAssets 2022-06-30 4005933 core:LandBuildings core:LongLeaseholdAssets 2022-06-30 4005933 core:FurnitureFittings 2022-06-30 4005933 core:MotorVehicles 2022-06-30 4005933 bus:Director1 2022-06-30 4005933 bus:Director1 2023-06-30 4005933 bus:Director1 2021-06-30 4005933 bus:Director1 2022-06-30 4005933 bus:Director1 2021-07-01 2022-06-30 4005933 bus:SmallEntities 2022-07-01 2023-06-30 4005933 bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 4005933 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 4005933 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 4005933 bus:FullAccounts 2022-07-01 2023-06-30
COMPANY REGISTRATION NUMBER: 4005933
Lazenbury Limited
Filleted Unaudited Financial Statements
30 June 2023
Lazenbury Limited
Statement of Financial Position
30 June 2023
2023
2022
(restated)
Note
£
£
£
Fixed assets
Tangible assets
5
8,594,339
7,887,289
Investments
6
16,100
16,100
------------
------------
8,610,439
7,903,389
Current assets
Debtors
7
1,991,575
1,873,480
Cash at bank and in hand
506,502
558,929
------------
------------
2,498,077
2,432,409
Creditors: amounts falling due within one year
8
1,972,342
1,925,810
------------
------------
Net current assets
525,735
506,599
------------
------------
Total assets less current liabilities
9,136,174
8,409,988
Creditors: amounts falling due after more than one year
9
5,314,358
5,037,303
Provisions
Taxation including deferred tax
297,045
272,548
------------
------------
Net assets
3,524,771
3,100,137
------------
------------
Capital and reserves
Called up share capital
100
100
Fair value reserve
1,266,348
1,161,912
Profit and loss account
2,258,323
1,938,125
------------
------------
Shareholders funds
3,524,771
3,100,137
------------
------------
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 comprehensive income 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 .
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: 4005933
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.
Judgements and key sources of estimation uncertainty
No significant judgements have been made by the director in preparing these financial statements.
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.
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:
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
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.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. Tangible assets
Freehold property
Long leasehold property
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost or valuation
At 1 July 2022 (as restated)
3,038,908
4,865,305
56,850
9,250
7,970,313
Additions
189,040
295,886
119
485,045
Disposals
( 28,414)
( 28,414)
Revaluations
40,548
157,669
198,217
------------
------------
--------
-------
------------
At 30 June 2023
3,268,496
5,318,860
28,555
9,250
8,625,161
------------
------------
--------
-------
------------
Depreciation
At 1 July 2022
47,422
8,729
56,151
Charge for the year
2,198
130
2,328
Transfers
(27,657)
(27,657)
------------
------------
--------
-------
------------
At 30 June 2023
21,963
8,859
30,822
------------
------------
--------
-------
------------
Carrying amount
At 30 June 2023
3,268,496
5,318,860
6,592
391
8,594,339
------------
------------
--------
-------
------------
At 30 June 2022
3,038,908
4,865,305
9,428
521
7,914,162
------------
------------
--------
-------
------------
The company holds investment property with a cost price of £6,943,629 (2022: £6,441,686). The properties are reflected in the accounts at their fair value at the balance sheet date. The valuation is carried out annually by T M Lazenbury Esq , the director with reference to the open market.
6. Investments
Shares in group undertakings
£
Cost
At 1 July 2022 as restated and 30 June 2023
36,000
--------
Impairment
At 1 July 2022 as restated and 30 June 2023
19,900
--------
Carrying amount
At 30 June 2023
16,100
--------
At 30 June 2022
16,100
--------
7. Debtors
2023
2022
(restated)
£
£
Other debtors
1,991,575
1,873,480
------------
------------
8. Creditors: amounts falling due within one year
2023
2022
(restated)
£
£
Bank loans and overdrafts
98,875
Trade creditors
2,355
2,355
Corporation tax
96,003
77,611
Social security and other taxes
748
748
Other creditors
1,873,236
1,746,221
------------
------------
1,972,342
1,925,810
------------
------------
9. Creditors: amounts falling due after more than one year
2023
2022
(restated)
£
£
Bank loans and overdrafts
5,194,358
4,917,303
Amounts owed to group undertakings and undertakings in which the company has a participating interest
120,000
120,000
------------
------------
5,314,358
5,037,303
------------
------------
10. 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
( 250)
120,810
120,560
----
---------
---------
2022
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
T M Lazenbury Esq
( 3,631)
3,381
( 250)
-------
-------
----
11. 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
£
£
£
£
Trevor Michael Lazenbury Limited
(161,475)
17,039
( 1,647,739)
( 1,486,264)
BRO UK Limited
(17,526)
(1,826)
( 94,053)
( 76,527)
Canterfield Ltd
53,634
(95,000)
( 235,122)
( 288,756)
Buildfine Estates Ltd
240
240
( 11,942)
( 12,182)
Oldrose Estates Ltd
(19,800)
(17,735)
93,247
113,047
Talland Court Limited
3,250
(2,045)
50,016
46,766
Winlaz Property Limited
(203,680)
(23,037)
463,127
666,807
Lazenbury House Limited
(5,498)
19,129
282,408
288,357
Elson Road Limited
(1,591)
(1,290)
19,766
21,357
Lazenbury Woodland (IOW) Limited
1,680
185,815
184,135
Nathan Trevor Lazenbury Limited
20,557
45,962
45,962
Netherton Road Limited
(2,145)
40
( 3,848)
( 1,703)
Lazenbury Property (Stoke Road) Limited
(1,555)
(190,085)
( 57,857)
( 56,302)
Lazenbury Property (Bemisters & Park Parade) Limited
(35,725)
177,602
257,754
293,479
Lazenbury Property (Forton) Limited
(482)
15,547
181,057
181,539
Lazenbury Property (Lydia) Limited
213,639
77,708
291,347
77,708
Gosport High Street Limmited
3,764
400
4,164
400
265 Forton Road Limited
3,889
35
3,924
35
Lazraf Properties Limited
(500)
( 500)
( 500)
Lazenbury Property Management Limited
2,364
(11,531)
( 9,164)
( 11,531)
---------
---------
------------
------------
T M Lazenbury Esq is the managing director and sole shareholder of Trevor Michael Lazenbury Limited . T M Lazenbury Esq is the managing director and sole shareholder of Lazenbury Ltd. Mrs T Lazenbury is the managing director of Canterfield Ltd and owns eighty per cent of the issued voting share capital. Trevor Michael Lazenbury Limited owns the remaining twenty per cent of the issued voting share capital of Canterfield Ltd. T M Lazenbury Esq is the managing director of Buildfine Estates Ltd. Oldrose Estates Ltd owns one hundred per cent of the issued share capital. T M Lazenbury Esq is the managing director of Oldrose Estates Ltd and owns fifty per cent of the issued share capital. T M Lazenbury Esq is the managing director of Talland Court Limited and owns one hundred per cent of the issued share capital. T M Lazenbury Esq is the managing director of WinLaz Property Limited and owns one hundred per cent of the issued share capital. T M Lazenbury Esq is the managing director of Lazenbury House Limited and owns one hundred per cent of the issued share capital. T M Lazenbury Esq is the managing director of Elson Road Limited and owns one hundred per cent of the issued share capital. T M Lazenbury Esq is the managing director of Lazenbury Woodland (IOW) Limited and owns one hundred per cent of the issued share capital. Nathan Trevor Lazenbury Limited is a company under the control of the directors son. T M Lazenbury Esq is the managing director of Lazenbury Property (Stoke Road) Limited and owns one hundred per cent of the issued share capital. T M Lazenbury Esq is the managing director of Lazenbury Property (Bemisters & Park Parade) Limited and owns one hundred per cent of the issued share capital. T M Lazenbury Esq is the managing director of Lazenbury Property (Forton) Limited and owns one hundred per cent of the issued share capital. T M Lazenbury Esq is the managing director of Lazenbury Property (Lydia) Limited and owns ninety per cent of the issued share capital. T M Lazenbury Esq is the managing director of 265 Forton Limited and owns one hundred per cent of the issued share capital. T M Lazenbury Esq is the managing director of Lazraf properties Limited and owns fifty per cent of the issued share capital. T M Lazenbury Esq is the managing director of lazenbury Property Management Limited and owns one hundred per cent of the issued share capital.