Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30false2022-12-01No description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10463477 2022-12-01 2023-11-30 10463477 2021-12-01 2022-11-30 10463477 2023-11-30 10463477 2022-11-30 10463477 c:Director1 2022-12-01 2023-11-30 10463477 d:FreeholdInvestmentProperty 2023-11-30 10463477 d:FreeholdInvestmentProperty 2022-11-30 10463477 d:CurrentFinancialInstruments 2023-11-30 10463477 d:CurrentFinancialInstruments 2022-11-30 10463477 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 10463477 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 10463477 d:ShareCapital 2023-11-30 10463477 d:ShareCapital 2022-11-30 10463477 d:RetainedEarningsAccumulatedLosses 2023-11-30 10463477 d:RetainedEarningsAccumulatedLosses 2022-11-30 10463477 c:OrdinaryShareClass1 2022-12-01 2023-11-30 10463477 c:OrdinaryShareClass1 2023-11-30 10463477 c:OrdinaryShareClass1 2022-11-30 10463477 c:OrdinaryShareClass2 2022-12-01 2023-11-30 10463477 c:OrdinaryShareClass2 2023-11-30 10463477 c:OrdinaryShareClass2 2022-11-30 10463477 c:OrdinaryShareClass3 2022-12-01 2023-11-30 10463477 c:OrdinaryShareClass3 2023-11-30 10463477 c:OrdinaryShareClass3 2022-11-30 10463477 c:OrdinaryShareClass4 2022-12-01 2023-11-30 10463477 c:OrdinaryShareClass4 2023-11-30 10463477 c:OrdinaryShareClass4 2022-11-30 10463477 c:OrdinaryShareClass5 2022-12-01 2023-11-30 10463477 c:OrdinaryShareClass5 2023-11-30 10463477 c:FRS102 2022-12-01 2023-11-30 10463477 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 10463477 c:FullAccounts 2022-12-01 2023-11-30 10463477 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 10463477 2 2022-12-01 2023-11-30 10463477 e:PoundSterling 2022-12-01 2023-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10463477









LAWRANCE LANE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
LAWRANCE LANE LIMITED
REGISTERED NUMBER: 10463477

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investment property
 5 
3,675,000
3,675,000

Current assets
  

Debtors: amounts falling due within one year
 6 
38,707
25,361

Cash at bank and in hand
  
233,822
240,558

  
272,529
265,919

Creditors: amounts falling due within one year
 7 
(1,681,134)
(1,674,438)

Net current liabilities
  
 
 
(1,408,605)
 
 
(1,408,519)

  

Net assets
  
2,266,395
2,266,481


Capital and reserves
  

Called up share capital 
 8 
2,246,168
2,270,768

Profit and loss account
  
20,227
(4,287)

  
2,266,395
2,266,481


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 August 2024.




................................................
Keith D Brooks
Director

Page 1

 
LAWRANCE LANE LIMITED
REGISTERED NUMBER: 10463477
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
LAWRANCE LANE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Lawrance Lane Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is 31 Curzon Road, London, England, N10 2RB. The principal activity of the Company is the development of building projects. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rental income
Rental income is recognised in the period to which it relates.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Page 3

 
LAWRANCE LANE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.7

Investment property

Investment property is carried at fair value determined annually by the directors and derived from their experience with current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive income.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.
Page 4

 
LAWRANCE LANE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.10
Financial instruments (continued)


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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
a) Critical judgements in applying accounting policies
(i) Valuation of investment properties
The valuation of investment properties has been made by the director based on his personal expertise and knowledge of the market.
b) Critical accounting estimates and assumptions
The Company does not consider there to be any critical estimates and assumptions in applying accounting policies.


4.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
LAWRANCE LANE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Investment property


Investment property

£



Valuation


At 1 December 2022
3,675,000



At 30 November 2023
3,675,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.







6.


Debtors

2023
2022
£
£


Other debtors
38,707
25,361



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
1,580,991
1,580,991

Corporation tax
7,296
3,416

Other creditors
90,087
87,271

Accruals and deferred income
2,760
2,760

1,681,134
1,674,438


Page 6

 
LAWRANCE LANE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



861,524 (2022 - 886,124) Redeemable preference shares -
861,524
886,124
657,659 (2022 - 657,659) Ordinary 'A' shares -
657,659
657,659
657,659 (2022 - 657,659) Ordinary 'B' shares -
657,659
657,659
49 (2022 - 49) Ordinary 'C' shares -
49
49
49 (2022 - 49) Ordinary 'D' shares -
49
49
69,228 (2020 - 69,228) Ordinary 'E' shares -
69,228
69,228

2,246,168

2,270,768


During the year, the Company redeemed 24,600 redeemable preference shares at par.


9.


Related party transactions

Included within other debtors are amounts due from the directors of £26,340  (2022 - £12,994). Interest was charged at the HMRC beneficial loan rate. 
The directors had an interest in dividends of £6,591
 (2022 - £25,257).

 
Page 7