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COMPANY REGISTRATION NUMBER: 04339664
LINDLEY GROUP LIMITED
Unaudited Financial Statements
31 December 2023
LINDLEY GROUP LIMITED
Financial Statements
Year ended 31st December 2023
Contents
Page
Directors' report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
5
LINDLEY GROUP LIMITED
Directors' Report
Year ended 31st December 2023
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2023 .
Principal activities
The principal activities of the company during the year were those of personal financialplanning, investments, employee benefits consultancy and pension administration services.
Directors
The directors who served the company during the year were as follows:
G R Newton
S A Browne
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 9 April 2024 and signed on behalf of the board by:
S A Browne
Director
Registered office:
Chapel House Barn
Pillmoss Lane
Lower Whitley
Warrington
WA4 4DW
LINDLEY GROUP LIMITED
Statement of Income and Retained Earnings
Year ended 31st December 2023
2023
2022
Note
£
£
Turnover
425,000
379,999
---------
---------
Gross profit
425,000
379,999
Administrative expenses
274
2,088
---------
---------
Operating profit
424,726
377,911
Interest payable and similar expenses
796
1,540
---------
---------
Profit before taxation
4
423,930
376,371
Tax on profit
99,887
71,587
---------
---------
Profit for the financial year and total comprehensive income
324,043
304,784
---------
---------
Dividends paid and payable
( 278,444)
( 288,281)
Retained earnings at the start of the year
320,820
304,317
---------
---------
Retained earnings at the end of the year
366,419
320,820
---------
---------
All the activities of the company are from continuing operations.
LINDLEY GROUP LIMITED
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
750
1,500
Investments
7
85,866
85,866
--------
--------
86,616
87,366
Current assets
Debtors
8
399,796
339,440
Cash at bank and in hand
11,964
7,175
---------
---------
411,760
346,615
Creditors: amounts falling due within one year
9
131,731
112,935
---------
---------
Net current assets
280,029
233,680
---------
---------
Total assets less current liabilities
366,645
321,046
Provisions
Taxation including deferred tax
8
8
---------
---------
Net assets
366,637
321,038
---------
---------
Capital and reserves
Called up share capital
178
178
Capital redemption reserve
40
40
Profit and loss account
366,419
320,820
---------
---------
Shareholders funds
366,637
321,038
---------
---------
These financial statements have been prepared 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'.
For the year ending 31st December 2023 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 .
LINDLEY GROUP LIMITED
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 9 April 2024 , and are signed on behalf of the board by:
G R Newton
Director
Company registration number: 04339664
LINDLEY GROUP LIMITED
Notes to the Financial Statements
Year ended 31st December 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 Chapel House Barn, Pillmoss Lane, Lower Whitley, Warrington, WA4 4DW.
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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
The turnover shown in the profit and loss account represents commissions received and amounts invoiced during the period, exclusive of Value Added Tax.
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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
33% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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
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.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
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. 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.
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. Profit before taxation
Profit before taxation is stated after charging:
2023
2022
£
£
Depreciation of tangible assets
750
750
----
----
5. Intangible assets
Goodwill
£
Cost
At 1st January 2023 and 31st December 2023
34,338
--------
Amortisation
At 1st January 2023 and 31st December 2023
34,338
--------
Carrying amount
At 31st December 2023
--------
At 31st December 2022
--------
6. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1st January 2023 and 31st December 2023
142,414
142,414
---------
---------
Depreciation
At 1st January 2023
140,914
140,914
Charge for the year
750
750
---------
---------
At 31st December 2023
141,664
141,664
---------
---------
Carrying amount
At 31st December 2023
750
750
---------
---------
At 31st December 2022
1,500
1,500
---------
---------
7. Investments
Shares in group undertakings
£
Cost
At 1st January 2023 and 31st December 2023
85,866
--------
Impairment
At 1st January 2023 and 31st December 2023
--------
Carrying amount
At 31st December 2023
85,866
--------
At 31st December 2022
85,866
--------
8. Debtors
2023
2022
£
£
Trade debtors
152
152
Amounts owed by group undertakings and undertakings in which the company has a participating interest
399,644
339,288
---------
---------
399,796
339,440
---------
---------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
26,602
36,454
Trade creditors
92
94
Social security and other taxes
100,237
71,587
Other creditors
4,800
4,800
---------
---------
131,731
112,935
---------
---------
10. Related party transactions
The company was under the control of Lindley Group Holdings Limited a company registered in the United Kingdom
11. Controlling party
The company is a wholly owned subsidiary of Lindley Group Holdings Limited a company registered in the United Kingdom.