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COMPANY REGISTRATION NUMBER: 13794979
Lancaster Gate Investments Limited
Filleted Unaudited Financial Statements
31 December 2023
Lancaster Gate Investments Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Officers and professional advisers
1
Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements
2
Statement of financial position
3
Notes to the financial statements
5
Lancaster Gate Investments Limited
Officers and Professional Advisers
The board of directors
A S Jaff
S B Herring
Registered office
2 Windmill Street
London
W1T 2HX
Accountants
Complete Accounting Solutions
Chartered Certified Accountants
727-729 High Road
London
N12 0BP
Lancaster Gate Investments Limited
Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Lancaster Gate Investments Limited
Year ended 31 December 2023
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 December 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Complete Accounting Solutions Chartered Certified Accountants
727-729 High Road London N12 0BP
Lancaster Gate Investments Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
4
21,000,000
21,000,000
Current assets
Debtors
5
625
Cash at bank and in hand
1,747
6,375
-------
-------
2,372
6,375
Creditors: amounts falling due within one year
6
1,800
2,875
-------
-------
Net current assets
572
3,500
-------------
-------------
Total assets less current liabilities
21,000,572
21,003,500
Creditors: amounts falling due after more than one year
7
22,152,557
21,697,637
-------------
-------------
Net liabilities
( 1,151,985)
( 694,137)
-------------
-------------
Capital and reserves
Called up share capital
199
199
Profit and loss account
( 1,152,184)
( 694,336)
------------
---------
Shareholders deficit
( 1,151,985)
( 694,137)
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Lancaster Gate Investments Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 10 September 2024 , and are signed on behalf of the board by:
A S Jaff
Director
Company registration number: 13794979
Lancaster Gate Investments Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Windmill Street, London, W1T 2HX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity .
Going concern
In our opinion, on the basis of information and enquiries that are pertinent to the company's circumstances and which we believe to be adequate, it is appropriate to continue to treat the company as a going concern. In particular we believe that adequate cash resources will be available to cover the company's requirements for working capital for at least twelve months from the date of signing the financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date .
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. The freehold property is not depreciated as land and buildings are generally considered to have an indefinite useful life.
4. Tangible assets
Freehold property
£
Cost
At 1 January 2023 and 31 December 2023
21,000,000
-------------
Depreciation
At 1 January 2023 and 31 December 2023
-------------
Carrying amount
At 31 December 2023
21,000,000
-------------
At 31 December 2022
21,000,000
-------------
The freehold property has not been revalued at fair value at the balance sheet date as there is no material difference to the value stated at the balance sheet date .
5. Debtors
2023
2022
£
£
Other debtors
625
----
----
6. Creditors: amounts falling due within one year
2023
2022
£
£
Social security and other taxes
1,875
Other creditors
1,800
1,000
-------
-------
1,800
2,875
-------
-------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans
2,500,000
12,600,000
Other creditors
19,652,557
9,097,637
-------------
-------------
22,152,557
21,697,637
-------------
-------------
The company has provided security by way of a fixed charge over the property owned in favour of Investec Bank PLC .
8. Comparatives
The comparatives for the year ended 31 December 2022 in note 8 page 10 have been reclassified to split bank loans and other creditors to better reflect the nature of the creditors.