Company Registration No. 05298243 (England and Wales)
Lamron Developments (Odiham) Limited
Unaudited financial statements
For the year ended 30 November 2023
Pages for filing with registrar
LAMRON DEVELOPMENTS (ODIHAM) LIMITED
Lamron Developments (Odiham) Limited
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
LAMRON DEVELOPMENTS (ODIHAM) LIMITED
Lamron Developments (Odiham) Limited
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
3
275,000
Current assets
Stocks
342,724
138,733
Debtors
4
345
2
Cash at bank and in hand
19,732
2,642
362,801
141,377
Creditors: amounts falling due within one year
5
(629,578)
(167,557)
Net current liabilities
(266,777)
(26,180)
Net assets/(liabilities)
8,223
(26,180)
Capital and reserves
Called up share capital
6
2
2
Profit and loss reserves
8,221
(26,182)
Total equity
8,223
(26,180)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 29 August 2024 and are signed on its behalf by:
M M S McPhail
Director
Company registration number 05298243 (England and Wales)
LAMRON DEVELOPMENTS (ODIHAM) LIMITED
Lamron Developments (Odiham) Limited
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information
Lamron Developments (Odiham) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 55 Loudoun Road, St John's Wood, London, NW8 0DL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The financial statements have been prepared on the going concern basis, as the directors have confirmed that funds will continue to be made available to the company from related undertakings to enable it to meet its day to day commitments for the foreseeable future. The financial statements do not include any adjustments that might result from the withdrawal of this support and the directors are of the opinion that the going concern basis is therefore appropriate to the preparation of these financial statements.
1.3
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present condition.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
LAMRON DEVELOPMENTS (ODIHAM) LIMITED
Lamron Developments (Odiham) Limited
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
3
Investment property
2023
£
Fair value
At 1 December 2022
Additions
233,006
Revaluations
41,994
At 30 November 2023
275,000
The valuation of the investment properties was made at 30 November 2023 by the directors of the company, on an open market basis. No depreciation is provided in respect of this property.
On a historical cost basis the property would have been included on the Balance Sheet at a cost of £233,006.
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
345
2
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
1,091
Amounts owed to related parties
607,912
165,348
Taxation and social security
394
Other creditors
20,575
1,815
629,578
167,557
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of £1 each
2
2
2
2