IRIS Accounts Production v24.1.9.2 08649507 director 1.9.22 31.8.23 31.8.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh086495072022-08-31086495072023-08-31086495072022-09-012023-08-31086495072021-08-31086495072021-09-012022-08-31086495072022-08-3108649507ns15:EnglandWales2022-09-012023-08-3108649507ns14:PoundSterling2022-09-012023-08-3108649507ns10:Director12022-09-012023-08-3108649507ns10:PrivateLimitedCompanyLtd2022-09-012023-08-3108649507ns10:SmallEntities2022-09-012023-08-3108649507ns10:AuditExempt-NoAccountantsReport2022-09-012023-08-3108649507ns10:SmallCompaniesRegimeForDirectorsReport2022-09-012023-08-3108649507ns10:SmallCompaniesRegimeForAccounts2022-09-012023-08-3108649507ns10:FullAccounts2022-09-012023-08-310864950712022-09-012023-08-3108649507ns10:RegisteredOffice2022-09-012023-08-3108649507ns5:CurrentFinancialInstruments2023-08-3108649507ns5:CurrentFinancialInstruments2022-08-3108649507ns5:Non-currentFinancialInstruments2023-08-3108649507ns5:Non-currentFinancialInstruments2022-08-3108649507ns5:ShareCapital2023-08-3108649507ns5:ShareCapital2022-08-3108649507ns5:RetainedEarningsAccumulatedLosses2023-08-3108649507ns5:RetainedEarningsAccumulatedLosses2022-08-3108649507ns5:PlantMachinery2022-09-012023-08-3108649507ns5:FurnitureFittings2022-09-012023-08-3108649507ns5:MotorVehicles2022-09-012023-08-3108649507ns5:ComputerEquipment2022-09-012023-08-3108649507ns5:PlantMachinery2022-08-3108649507ns5:FurnitureFittings2022-08-3108649507ns5:MotorVehicles2022-08-3108649507ns5:ComputerEquipment2022-08-3108649507ns5:PlantMachinery2023-08-3108649507ns5:FurnitureFittings2023-08-3108649507ns5:MotorVehicles2023-08-3108649507ns5:ComputerEquipment2023-08-3108649507ns5:PlantMachinery2022-08-3108649507ns5:FurnitureFittings2022-08-3108649507ns5:MotorVehicles2022-08-3108649507ns5:ComputerEquipment2022-08-3108649507ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-08-3108649507ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-09-012023-08-3108649507ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-08-3108649507ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-08-3108649507ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-08-3108649507ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-08-3108649507ns5:Secured2023-08-3108649507ns5:Secured2022-08-31086495071ns10:Director12022-08-31086495071ns10:Director12021-08-31086495071ns10:Director12022-09-012023-08-31086495071ns10:Director12021-09-012022-08-31086495071ns10:Director12023-08-31086495071ns10:Director12022-08-31
REGISTERED NUMBER: 08649507 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 August 2023

for

Lowry Group Limited

Previously known as
Shaw Lodge Mills Limited

Lowry Group Limited (Registered number: 08649507)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lowry Group Limited

Company Information
for the Year Ended 31 August 2023







DIRECTOR: P J C Clark





REGISTERED OFFICE: Reedham House
31 King Street West
Manchester
Greater Manchester





BUSINESS ADDRESS: Sunrise House
Hulley Road
Macclesfield
Cheshire
SK10 2LP





REGISTERED NUMBER: 08649507 (England and Wales)





ACCOUNTANTS: Freedman Frankl & Taylor
Chartered Accountants
Reedham House
31 King Street West
Manchester
M3 2PJ

Lowry Group Limited (Registered number: 08649507)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 40,198 52,504
Investment property 5 20,090,507 17,847,648
20,130,705 17,900,152

CURRENT ASSETS
Debtors 6 1,572,889 1,571,581
Cash at bank 34,873 42,733
1,607,762 1,614,314
CREDITORS
Amounts falling due within one year 7 624,238 582,979
NET CURRENT ASSETS 983,524 1,031,335
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,114,229

18,931,487

CREDITORS
Amounts falling due after more than one
year

8

(9,167,917

)

(9,408,867

)

PROVISIONS FOR LIABILITIES (2,003,987 ) (1,444,855 )
NET ASSETS 9,942,325 8,077,765

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 9,942,323 8,077,763
SHAREHOLDERS' FUNDS 9,942,325 8,077,765

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Lowry Group Limited (Registered number: 08649507)

Balance Sheet - continued
31 August 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 August 2024 and were signed by:





P J C Clark - Director


Lowry Group Limited (Registered number: 08649507)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

Lowry Group 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 15% on reducing balance
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Lowry Group Limited (Registered number: 08649507)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The company's financial statements for the year ended 31 August 2023 have been prepared on a going concern basis as, after making appropriate enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2022 9,000 22,245 54,300 2,131 87,676
Additions - 3,099 - - 3,099
Disposals - - (17,700 ) - (17,700 )
At 31 August 2023 9,000 25,344 36,600 2,131 73,075
DEPRECIATION
At 1 September 2022 5,836 11,922 15,501 1,913 35,172
Charge for year 791 2,818 4,804 218 8,631
Eliminated on disposal - - (10,926 ) - (10,926 )
At 31 August 2023 6,627 14,740 9,379 2,131 32,877
NET BOOK VALUE
At 31 August 2023 2,373 10,604 27,221 - 40,198
At 31 August 2022 3,164 10,323 38,799 218 52,504

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 September 2022
and 31 August 2023 36,600
DEPRECIATION
At 1 September 2022 4,575
Charge for year 4,804
At 31 August 2023 9,379
NET BOOK VALUE
At 31 August 2023 27,221
At 31 August 2022 32,025

Lowry Group Limited (Registered number: 08649507)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 September 2022 17,847,648
Additions 42,937
Revaluations 2,199,922
At 31 August 2023 20,090,507
NET BOOK VALUE
At 31 August 2023 20,090,507
At 31 August 2022 17,847,648

Cost or valuation at 31 August 2023 is represented by:
£   
Valuation in 2018 4,929,093
Valuation in 2021 1,719,045
Valuation in 2023 2,199,922
Cost 11,242,447
20,090,507

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 11,242,447 11,199,510

Investment properties were valued on an open market basis on 21 April 2023 by BNP Paribas Real Estate and the director .

The director does not consider the market value of investment properties to be materially different from the value stated in the financial statements as at 31 August 2023.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 67,890 40,631
Other debtors 1,504,999 1,530,950
1,572,889 1,571,581

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,644 9,645
Hire purchase contracts 9,316 10,998
Trade creditors 115,781 102,977
Taxation and social security 224,016 201,910
Other creditors 265,481 257,449
624,238 582,979

Lowry Group Limited (Registered number: 08649507)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 9,163,175 9,396,491
Hire purchase contracts 4,742 12,376
9,167,917 9,408,867

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 9,172,819 9,406,136
Hire purchase contracts 14,058 23,374
9,186,877 9,429,510

10. CONTINGENT LIABILITIES

The company has guaranteed the bank facilities of a company in which the director of the company is also a director and shareholder. The bank loan balance for that company was £659,139 as at 31 August 2023.

The company has guaranteed the bank facilities of a partnership in which the director of the company is also a partner. The bank loan balance for that partnership was £5,176,207 as at 31 August 2023.

11. CAPITAL COMMITMENTS
2023 2022
£    £   
Contracted but not provided for in the
financial statements 14,600 51,100

12. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

2023 2022
£    £   
P J C Clark
Balance outstanding at start of year 230,351 -
Amounts advanced 109,664 230,351
Amounts repaid (340,015 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 230,351

Interest amounting to £4,041 has been charged to director's current account in respect of this overdrawn balance.

Lowry Group Limited (Registered number: 08649507)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

13. RELATED PARTY DISCLOSURES

Included within other debtors is a balance amounting to £1,415,367 (2022: £1,213,657) due from companies in which the director of the company is also a director and shareholder. There are no fixed repayment terms and no interest is chargeable by the company in respect of this balance.