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REGISTERED NUMBER: 01607670 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST JANUARY 2024

FOR

LESTERS AND CO

LESTERS AND CO (REGISTERED NUMBER: 01607670)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LESTERS AND CO

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTORS: G Lester
S G Lester





REGISTERED OFFICE: Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ





REGISTERED NUMBER: 01607670 (England and Wales)





ACCOUNTANTS: Parkers
Cornelius House
178-180 Church Road
Hove
East Sussex
BN3 2DJ

LESTERS AND CO (REGISTERED NUMBER: 01607670)

BALANCE SHEET
31ST JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 1,702,500 1,702,500
1,702,500 1,702,500

CURRENT ASSETS
Debtors 6 9,341 14,184
Cash at bank 478,805 483,140
488,146 497,324
CREDITORS
Amounts falling due within one year 7 29,254 26,164
NET CURRENT ASSETS 458,892 471,160
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,161,392

2,173,660

PROVISIONS FOR LIABILITIES 236,731 179,915
NET ASSETS 1,924,661 1,993,745

CAPITAL AND RESERVES
Called up share capital 87 87
Capital redemption reserve 13 13
Fair value reserve 8 1,195,934 1,252,749
Retained earnings 728,627 740,896
SHAREHOLDERS' FUNDS 1,924,661 1,993,745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

LESTERS AND CO (REGISTERED NUMBER: 01607670)

BALANCE SHEET - continued
31ST JANUARY 2024


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 Board of Directors and authorised for issue on 19th August 2024 and were signed on its behalf by:





G Lester - Director


LESTERS AND CO (REGISTERED NUMBER: 01607670)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024

1. STATUTORY INFORMATION

Lesters And Co 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.

Significant judgements and estimates
No significant judgements have been made by the directors in preparing these financial statements.

Turnover
Turnover represents the value of rents receivable excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% 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.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss 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.


LESTERS AND CO (REGISTERED NUMBER: 01607670)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st February 2023
and 31st January 2024 3,501
DEPRECIATION
At 1st February 2023
and 31st January 2024 3,501
NET BOOK VALUE
At 31st January 2024 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st February 2023
and 31st January 2024 1,702,500
NET BOOK VALUE
At 31st January 2024 1,702,500
At 31st January 2023 1,702,500

Fair value at 31st January 2024 is represented by:
£   
Valuation in 2024 1,702,500

LESTERS AND CO (REGISTERED NUMBER: 01607670)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

5. INVESTMENT PROPERTY - continued

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

2024 2023
£    £   
Cost 269,835 269,835

Investment property was valued on an open market basis on 31st January 2023 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 9,341 14,184

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 25,203 21,592
Other creditors 4,051 4,572
29,254 26,164

8. RESERVES
Fair
value
reserve
£   
At 1st February 2023 1,252,749
Deferred taxation (56,815 )

At 31st January 2024 1,195,934