Registered number: 3873060 | ||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||
Lambda Developments Limited | ||||||||
ACCOUNTS | ||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||
DIRECTORS | ||||||||
REGISTERED OFFICE | ||||||||
Hampshire | ||||||||
COMPANY DETAILS | ||||||||
Private company limited by shares registered in EW - England and Wales, registered number 3873060 | ||||||||
Lambda Developments Limited | ||||||||
ACCOUNTS | ||||||||
FOR THEYEARENDED31/03/2024 | ||||||||
CONTENTS | ||||||||
Page | ||||||||
Directors' Report | - | |||||||
Statement Of Comprehensive Income | - | |||||||
Balance Sheet | 3 | |||||||
Notes To The Accounts | 4 | |||||||
The following do not form part of the statutory financial statements: | ||||||||
Trading And Profit And Loss Account | - | |||||||
Profit And Loss Account Summaries | - |
Lambda Developments Limited | ||||||||
BALANCE SHEET AT | ||||||||||
2024 | 2023 | |||||||||
Notes | £ | £ | ||||||||
FIXED ASSETS | ||||||||||
Tangible assets | ||||||||||
CURRENT ASSETS | ||||||||||
Debtors | 4 | |||||||||
Cash at bank and in hand | ||||||||||
295,414 | 164,015 | |||||||||
CREDITORS: Amounts falling due within one year | 5 | |||||||||
NET CURRENT ASSETS | 129,012 | |||||||||
TOTAL ASSETS LESS CURRENT LIABILITIES | ||||||||||
CAPITAL AND RESERVES | ||||||||||
Called up share capital | 6 | |||||||||
Revaluation reserve | 1e,7 | 254,511 | 254,511 | |||||||
Profit and loss account | 1,590,722 | 1,478,067 | ||||||||
SHAREHOLDERS' FUNDS | ||||||||||
Approved by the board on | ||||||||||
............................. | ||||||||||
Director | ||||||||||
Lambda Developments Limited | ||||||||
NOTES TO THE ACCOUNTS | ||||||||||
FOR THE YEAR ENDED 31/03/2024 | ||||||||||
1. ACCOUNTING POLICIES |
1a. Basis Of Accounting FRS 1021 a | ||||||||
The accounts have been prepared under the historical cost convention unless otherwise specified in these accounting policies. | ||||||||
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. | ||||||||
The presentational and functional currency of these financial statements is GBP. Values are rounded to the nearest pound. |
1b. Investment Properties | ||||||||
Investment properties were revalued on an open market basis by the directors at the balance sheet date, which has resulted in no change to value. Changes in fair value are recognised in the Statement of Comprhensive Income although these changes are non-distributable reserves under the Companies Act 2006. At the year end, any changes in fair value are transferred to a separate reserve (revaluation reserve) to enable undistributable reserves to be separately identified from distributable profits. |
1c. Taxation | ||||||||
Tax is recognised in the Statement of Income and Retained Earnings except that a charge attributable to an item of income or expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity repsectively. | ||||||||
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income. | ||||||||
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date except that: the recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair value of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
1d. Turnover | ||||||||
Turnover represents rental income and service charges receivable, net of value added tax. | ||||||||
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Lambda Developments Limited | ||||||||
1e. Revaluation Reserve | ||||||||
Surpluses or deficits arising on the revaluation of individual fixed assets other than investment properties are credited or debited to a non-distributible reserve known as the revaluation reserve (see also note 7). | ||||||||
Revaluation deficits in excess of the amount of prior revaluation surpluses on the same asset are charged to the profit and loss account. |
1f. Dividends On Shares Presented Within Shareholders Funds | ||||||||
Dividends unpaid at the balance sheet date are only recognised as a liability at that date to the extent that they are appropriately authorised and are no longer at the discretion of the Company Unpaid dividends that do not meet these criteria are disclosed in the notes to the financial statements. |
1g. Financial Instruments | ||||||||
The Company's cash at bank and in hand, trade and other debtors and its trade and other creditors are measured initially at the transaction price, including transaction costs, and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
2. EMPLOYEES | ||||||
2024 | 2023 | |||||
No. | No. | |||||
Average number of employees | - | |||||
3. INVESTMENT PROPERTIES | ||||
Investment | ||||
Properties | Total | |||
£ | £ | |||
Fair value | ||||
At 01/04/2023 | 1,603,666 | 1,603,666 | ||
At 31/03/2024 | 1,603,666 | 1,603,666 | ||
4. DEBTORS | 2024 | 2023 | ||||||
£ | £ | |||||||
Amounts falling due within one year | ||||||||
Trade debtors | 8,327 | 6,218 | ||||||
8,327 | 6,218 | |||||||
Lambda Developments Limited | ||||||||
5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||||||||
2024 | 2023 | |||||||
£ | £ | |||||||
UK corporation tax | 37,552 | 27,897 | ||||||
VAT | 7,598 | 7,106 | ||||||
Trade creditors | 8,597 | - | ||||||
53,747 | 35,003 | |||||||
6. SHARE CAPITAL | 2024 | 2023 | ||||||
£ | £ | |||||||
Allotted, issued and fully paid: | ||||||||
100 | 100 | |||||||
100 | 100 | |||||||
7. REVALUATION RESERVE | 2024 | 2023 | ||||||
£ | £ | |||||||
Revaluation reserve | 254,511 | 254,511 | ||||||
254,511 | 254,511 | |||||||