1 June 2023 v2024.32.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetruetrueNo description of principal activity00falsetruexbrli:purexbrli:sharesiso4217:GBP119841222023-06-012024-05-31119841222024-05-31119841222023-05-3111984122core:WithinOneYear2024-05-3111984122core:WithinOneYear2023-05-3111984122core:AfterOneYear2024-05-3111984122core:AfterOneYear2023-05-3111984122core:ShareCapital2024-05-3111984122core:ShareCapital2023-05-3111984122core:RevaluationReserve2024-05-3111984122core:RevaluationReserve2023-05-3111984122core:RetainedEarningsAccumulatedLosses2024-05-3111984122core:RetainedEarningsAccumulatedLosses2023-05-3111984122bus:Director12023-06-012024-05-3111984122bus:Director22023-06-012024-05-3111984122bus:RegisteredOffice2023-06-012024-05-3111984122core:LandBuildings2024-05-3111984122core:LandBuildings2023-05-311198412212023-06-012024-05-31119841222022-06-012023-05-3111984122countries:EnglandWales2023-06-012024-05-3111984122bus:AuditExemptWithAccountantsReport2023-06-012024-05-3111984122bus:PrivateLimitedCompanyLtd2023-06-012024-05-3111984122bus:SmallEntities2023-06-012024-05-3111984122bus:FullAccounts2023-06-012024-05-31
Company registration number:
11984122
Charlson Lambert Homes Limited
Unaudited Filleted Financial Statements for the year ended
31 May 2024
Charlson Lambert Homes Limited
Report of the Accountant to the directors of Charlson Lambert Homes Limited
Year ended
31 May 2024
These financial statements have been prepared in accordance with my terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended
31 May 2024
.
I have prepared these financial statements based on the accounting records, information and explanations provided by you. I do not express any opinion on the financial statements.
On the statement of financial position you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give a "true and fair view".
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the directors for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Easy Admin Online
3 Pool View, Puseydale Farm Estate
Main Road
Shavington, Crewe
CHESHIRE
CW2 5DY
United Kingdom
Date:
25 July 2024
Charlson Lambert Homes Limited
Statement of Financial Position
31 May 2024
20242023
Note££
Fixed assets    
Tangible assets 5
325,000
 
325,000
 
Current assets    
Cash at bank and in hand
6,539
 
11,924
 
Creditors: amounts falling due within one year 6
(18,877
)
(30,652
)
Net current liabilities
(12,338
)
(18,728
)
Total assets less current liabilities 312,662   306,272  
Creditors: amounts falling due after more than one year 7
(212,858
)
(212,858
)
Net assets
99,804
 
93,414
 
Capital and reserves    
Called up share capital
100
 
100
 
Revaluation reserve
104,034
 
104,034
 
Profit and loss account
(4,330
)
(10,720
)
Shareholders funds
99,804
 
93,414
 
For the year ending
31 May 2024
, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
25 July 2024
, and are signed on behalf of the board by:
Ms T Lambert
Mr D Charlson
DirectorDirector
Company registration number:
11984122
Charlson Lambert Homes Limited
Notes to the Financial Statements
Year ended
31 May 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Maple Lodge, Hartshead Street
,
Lees
,
Oldham
,
Greater Manchester
,
OL4 5EE
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, 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.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount 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 capital and reserves. However, the increase is recognised in profit or loss to the extent that 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 capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

Impairment

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.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost .
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4 Average number of employees

The average number of persons employed by the company during the year was Nil (2023: Nil).

5 Tangible assets

Land and buildings
£
Cost  
At
1 June 2023
and
31 May 2024
325,000
 
Depreciation  
At
1 June 2023
and
31 May 2024
-  
Carrying amount  
At
31 May 2024
325,000
 
At 31 May 2023
325,000
 

Tangible assets held at valuation

In respect of tangible assets held at valuation, the comparable amounts that would have been recognised if the assets had been carried under the historical cost model are as follows:
Land and buildingsLand and buildings
20242023
££
Aggregate historical cost 220,966   220,966  
Carrying amount 220,966   220,966  
The investment properties were valued on an open market basis 31 May 2021 by Reed Rains. No revaluation has been carried out in the year as there has been no material change in the value of the investment properties.

6 Creditors: amounts falling due within one year

20242023
££
Taxation and social security
2,121
 
200
 
Other creditors
16,756
 
30,452
 
18,877
 
30,652
 

7 Creditors: amounts falling due after more than one year

20242023
££
Bank loans and overdrafts
212,858
 
212,858
 

8 Directors' advances, credit and guarantees

Included within other creditors are loans from the directors totalling £12,808 (2023: £26,758) on which no interest is charged. The loans are repayable in full or in part on demand. Dividends totalling £1,800 (2023: £4,000) were paid in the year in respect of shares held by the company's directors.