Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Colonel E T Bolitho OBE 28/09/2018 Miss L P A Bolitho 22/10/2021 Mr W E M Bolitho 28/09/2018 Mrs O A E Hotson 22/10/2021 27 July 2024 The principal activity of the Company continued to be that of the land development and rental. 11594331 2024-03-31 11594331 bus:Director1 2024-03-31 11594331 bus:Director2 2024-03-31 11594331 bus:Director3 2024-03-31 11594331 bus:Director4 2024-03-31 11594331 2023-03-31 11594331 core:CurrentFinancialInstruments 2024-03-31 11594331 core:CurrentFinancialInstruments 2023-03-31 11594331 core:ShareCapital 2024-03-31 11594331 core:ShareCapital 2023-03-31 11594331 core:RetainedEarningsAccumulatedLosses 2024-03-31 11594331 core:RetainedEarningsAccumulatedLosses 2023-03-31 11594331 bus:OrdinaryShareClass1 2024-03-31 11594331 2023-04-01 2024-03-31 11594331 bus:FilletedAccounts 2023-04-01 2024-03-31 11594331 bus:SmallEntities 2023-04-01 2024-03-31 11594331 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11594331 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11594331 bus:Director1 2023-04-01 2024-03-31 11594331 bus:Director2 2023-04-01 2024-03-31 11594331 bus:Director3 2023-04-01 2024-03-31 11594331 bus:Director4 2023-04-01 2024-03-31 11594331 2022-04-01 2023-03-31 11594331 core:CurrentFinancialInstruments 2023-04-01 2024-03-31 11594331 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 11594331 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 11594331 (England and Wales)

LANISLEY LTD

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

LANISLEY LTD

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

LANISLEY LTD

COMPANY INFORMATION

For the financial year ended 31 March 2024
LANISLEY LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Colonel E T Bolitho OBE
Miss L P A Bolitho
Mr W E M Bolitho
Mrs O A E Hotson
REGISTERED OFFICE The Estate Office
Chyandour Square
Penzance
TR18 3LW
United Kingdom
COMPANY NUMBER 11594331 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
LANISLEY LTD

BALANCE SHEET

As at 31 March 2024
LANISLEY LTD

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Current assets
Stocks 3 522,707 522,493
Debtors 4 6,840 6,840
Cash at bank and in hand 59,030 69,600
588,577 598,933
Creditors: amounts falling due within one year 5 ( 547,236) ( 560,373)
Net current assets 41,341 38,560
Total assets less current liabilities 41,341 38,560
Net assets 41,341 38,560
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account 41,340 38,559
Total shareholders' funds 41,341 38,560

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Lanisley Ltd (registered number: 11594331) were approved and authorised for issue by the Board of Directors on 27 July 2024. They were signed on its behalf by:

Colonel E T Bolitho OBE
Director
LANISLEY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
LANISLEY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Lanisley Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is The Estate Office, Chyandour Square, Penzance, TR18 3LW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue comprises the following:
Sales represents income received from land development activities.
Rental income is generated from farming land owned.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises cost of acquisition of the land, together with associated costs of future development.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Stocks

2024 2023
£ £
Work in progress 522,707 522,493

4. Debtors

2024 2023
£ £
Trade debtors 6,840 6,840

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 443 0
Taxation and social security 13,447 21,525
Other creditors 533,346 538,848
547,236 560,373

Within other creditors is a loan of £56,648 (2023: £56,648) payable to Trengwainton Developments Ltd, a company which is more than 90% owned and controlled by a trust of which Mr William Edward Morgan Bolitho, Shareholder and Director of this company, is the majority beneficiary. Other creditors also include a loan of £462,000 (2023: £462,000) from The Edward Thomas Bolitho Children's Settlement.

Included within other creditors is an amount owed to the directors totalling £10,350 (2023: £10,350). This balance has no fixed terms of repayment and interest has not been charged.

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 0.001 each 1 1