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Registration number: 13740637

Lian Yard Limited

Annual Report and Financial Statements

for the year ended 30 November 2023

 

Lian Yard Limited

Contents

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3 to 8

 

Lian Yard Limited

Company Information

Director

A Stewart-Clark

Registered office

Sinclaire Cottage
Portsmouth Road
Ripley
Woking
Surrey
GU23 6EW

Auditors

Hodson & Co
Wiston House
1 Wiston Avenue
Worthng
West Sussex
BN14 7QL

 

Lian Yard Limited

(Registration number: 13740637)
Statement of Financial Position
30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Investment property

4

1,360,292

1,360,292

Current assets

 

Debtors

5

10,551

1,830

Cash at bank and in hand

 

15

508

 

10,566

2,338

Creditors: Amounts falling due within one year

6

(4,793)

(4,963)

Net current assets/(liabilities)

 

5,773

(2,625)

Total assets less current liabilities

 

1,366,065

1,357,667

Creditors: Amounts falling due after more than one year

6

(1,337,144)

(1,342,156)

Net assets

 

28,921

15,511

Capital and reserves

 

Called up share capital

1

1

Retained earnings

28,920

15,510

Shareholders' funds

 

28,921

15,511

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 August 2024
 

.........................................
A Stewart-Clark
Director

 

Lian Yard Limited

Notes to the Financial Statements
for the year ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Sinclaire Cottage
Portsmouth Road
Ripley
Woking
Surrey
GU23 6EW

These financial statements were authorised for issue by the director on 21 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis as the director believes that no material uncertainties exist. The director has considered the level of reserves held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the company to be able to continue as a going concern.

 

Lian Yard Limited

Notes to the Financial Statements
for the year ended 30 November 2023

Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 21 August 2024 was Matthew Hodson BSc FCA, who signed for and on behalf of Hodson & Co.

.........................................

Judgements

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.

Critical accounting estimates and assumptions:

Management is required to make key decisions and judgements in the process of applying the Company's accounting policies. The most significant areas where such judgements have been necessary is the valuation of investment properties. Where judgement has been applied, the key factors taken into consideration are disclosed in the accounting policies and the appropriate note in these financial statements.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Lian Yard Limited

Notes to the Financial Statements
for the year ended 30 November 2023

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

Investment property

Investment property is recognised at fair value according to the fair value model, which reflects market conditions at end of the reporting period. Gains or losses resulting from a change in the fair value of investment property are recognised in the income statement in the year they arise.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Lian Yard Limited

Notes to the Financial Statements
for the year ended 30 November 2023

4

Investment properties

2023
£

At 1 December

1,360,292

At 30 November

1,360,292

The 2022 valuation was undertaken by the director, at open market value and the director is satisfied that the current open market value is not materially different from the value included within the financial statements.

The historical cost is £1,360,292 (2022: £1,360,292)

5

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

7

500

-

Other debtors

 

10,051

1,830

   

10,551

1,830

 

Lian Yard Limited

Notes to the Financial Statements
for the year ended 30 November 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

3,638

3,638

Accruals and deferred income

1,155

1,325

4,793

4,963

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other non-current financial liabilities

1,337,144

1,342,156

7

Related party transactions

Summary of transactions with other related parties

Loans from Group companies
 

Loans to related parties

2023

Other related parties
£

Total
£

Advanced

500

500

At end of period

500

500

Loans from related parties

 

Lian Yard Limited

Notes to the Financial Statements
for the year ended 30 November 2023

2023

Group companies
£

Total
£

At start of period

1,324,156

1,324,156

Advanced

101,828

101,828

Repaid

(88,840)

(88,840)

At end of period

1,337,144

1,337,144

2022

Group companies
£

Total
£

At start of period

1,360,292

1,360,292

Advanced

24,613

24,613

Repaid

(60,749)

(60,749)

At end of period

1,324,156

1,324,156

8

Parent and ultimate parent undertaking

The ultimate controlling party by virtue of holding 100% shares in Providence Place Ltd is Alex Stewart-Clark.

 The company's immediate parent is Providence Place Ltd, incorporated in England & Wales.

 

The parent of the smallest (and largest) group in which these financial statements are consolidated is Providence Place Ltd, incorporated in England & Wales. The address of Providence Place Ltd is Sinclaire Cottage, Portsmouth Road, Ripley, Woking, Surrey, GU23 6EW.