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Registered number: 14241741










LEWIS & SCOTT RETIREMENT LIVING TOLLESBURY LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
1,324,898
1,054,853

Debtors: amounts falling due within one year
 4 
19,030
19,030

Cash at bank and in hand
  
499
32,619

  
1,344,427
1,106,502

Creditors: amounts falling due within one year
 5 
(341,153)
(357,765)

Net current assets
  
 
 
1,003,274
 
 
748,737

Total assets less current liabilities
  
1,003,274
748,737

Creditors: amounts falling due after more than one year
 6 
(1,003,273)
(748,736)

  

Net assets
  
1
1


Capital and reserves
  

Called up share capital 
 8 
1
1

 
LEWIS & SCOTT RETIREMENT LIVING TOLLESBURY LTD
REGISTERED NUMBER: 14241741
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024


  
1
1


Page 1

 
LEWIS & SCOTT RETIREMENT LIVING TOLLESBURY LTD
REGISTERED NUMBER: 14241741
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

For the year ended 31 March 2024 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Robert Scott
Director

Date: 29 August 2024

Page 2

 
LEWIS & SCOTT RETIREMENT LIVING TOLLESBURY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Lewis & Scott Retirement Living Tollesbury Limited is a private company limited by shares and incorporated in England and Wales, registration number 14241741. The registered office is 1 Claydon Business Park, Great Blakenham, Ipswich, Suffolk, IP6 0NL. 
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. 
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The company's previous financial statements were prepared from incorporaton on 18 July 2022 to 31 March 2023. The financial statements are therefore not entirely comparable.

 
2.2

Going concern

The Directors have considered the Company's position at the time of signing the financial statements, including the review of forecasts for at least the next 12 months from approval. The ultimate parent undertaking has confirmed that they will provide continued support to the company. Based on this, the directors have concluded that they have a reasonable expectation that the company will have adequate resources to continue in operational existance for the forseeable future, and they therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 3

 
LEWIS & SCOTT RETIREMENT LIVING TOLLESBURY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
2
2


4.


Debtors

2024
2023
£
£


Other debtors
19,030
19,030

19,030
19,030



5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
260
-

Other creditors
337,943
355,400

Accruals
2,950
2,365

341,153
357,765


Page 4

 
LEWIS & SCOTT RETIREMENT LIVING TOLLESBURY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
1,003,273
748,736

1,003,273
748,736


The loans are secured by fixed and floating charges over land included in work in progress at 31 March 2024, as well as a general debenture and guarantee provided by the parent company.


7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£



Amounts falling due 2-5 years

Other loans
1,003,273
748,736


1,003,273
748,736


1,003,273
748,736


Page 5

 
LEWIS & SCOTT RETIREMENT LIVING TOLLESBURY LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 (2023 - 1) Ordinary share of £1
1
1

On 12 June 2023 the ownership of the company was transferred to Lewis & Scott Retirement Living Limited at nominal value.



9.


Post balance sheet events

On 26 April 2024, Islandbridge Property Holdings Limited acquired 97.5% of the share capital of Lewis & Scott Retirement Living Tollesbury Limited.


10.


Controlling party

The immediate parent company is Lewis & Scott Retirement Living Limited, a company incorporated in England & Wales.

 
Page 6