Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312024-05-244false2023-01-01No description of principal activity4falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. NI004020 2023-01-01 2023-12-31 NI004020 2022-01-01 2022-12-31 NI004020 2023-12-31 NI004020 2022-12-31 NI004020 c:Director2 2023-01-01 2023-12-31 NI004020 d:Buildings 2023-01-01 2023-12-31 NI004020 d:Buildings 2023-12-31 NI004020 d:Buildings 2022-12-31 NI004020 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 NI004020 d:PlantMachinery 2023-01-01 2023-12-31 NI004020 d:PlantMachinery 2023-12-31 NI004020 d:PlantMachinery 2022-12-31 NI004020 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 NI004020 d:FurnitureFittings 2023-01-01 2023-12-31 NI004020 d:FurnitureFittings 2023-12-31 NI004020 d:FurnitureFittings 2022-12-31 NI004020 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 NI004020 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 NI004020 d:CurrentFinancialInstruments 2023-12-31 NI004020 d:CurrentFinancialInstruments 2022-12-31 NI004020 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 NI004020 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 NI004020 d:ShareCapital 2023-12-31 NI004020 d:ShareCapital 2022-12-31 NI004020 d:CapitalRedemptionReserve 2023-01-01 2023-12-31 NI004020 d:CapitalRedemptionReserve 2023-12-31 NI004020 d:CapitalRedemptionReserve 2022-12-31 NI004020 d:RevaluationReserve 2023-01-01 2023-12-31 NI004020 d:RevaluationReserve 2023-12-31 NI004020 d:RevaluationReserve 2022-12-31 NI004020 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 NI004020 d:RetainedEarningsAccumulatedLosses 2023-12-31 NI004020 d:RetainedEarningsAccumulatedLosses 2022-12-31 NI004020 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 NI004020 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 NI004020 c:OrdinaryShareClass1 2023-01-01 2023-12-31 NI004020 c:OrdinaryShareClass1 2023-12-31 NI004020 c:OrdinaryShareClass1 2022-12-31 NI004020 c:FRS102 2023-01-01 2023-12-31 NI004020 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 NI004020 c:FullAccounts 2023-01-01 2023-12-31 NI004020 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 NI004020 2 2023-01-01 2023-12-31 NI004020 5 2023-01-01 2023-12-31 NI004020 6 2023-01-01 2023-12-31 NI004020 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: NI004020










SAMUEL LAMONT (HOLDINGS) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
SAMUEL LAMONT (HOLDINGS) LIMITED
 

CONTENTS



Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9


 
SAMUEL LAMONT (HOLDINGS) LIMITED
REGISTERED NUMBER: NI004020

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
352,077
362,007

Investments
 5 
287,102
287,102

  
639,179
649,109

Current assets
  

Debtors: amounts falling due within one year
 6 
286,361
303,902

Cash at bank and in hand
 7 
1,479
1,038

  
287,840
304,940

Creditors: amounts falling due within one year
 8 
(4,254)
(4,194)

Net current assets
  
 
 
283,586
 
 
300,746

Total assets less current liabilities
  
922,765
949,855

  

Net assets
  
922,765
949,855


Capital and reserves
  

Called up share capital 
 10 
164,325
164,325

Revaluation reserve
 11 
288,871
288,871

Capital redemption reserve
 11 
223,866
223,866

Profit and loss account
 11 
245,703
272,793

  
922,765
949,855


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and 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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 statement of comprehensive income 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 on 24 May 2024.




Mr David Nevin Lamont
Director
Page 1

 
SAMUEL LAMONT (HOLDINGS) LIMITED
REGISTERED NUMBER: NI004020

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023


The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
SAMUEL LAMONT (HOLDINGS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Samuel Lamont (Holdings) Limited is a members liability company, incorporated in Northern Ireland.
The company's registered office is situated at Victoria Street, Lurgan, BT67 9DU.
The company's principal business activity is as a holding company and the provision of head office services for its subsidiary companies.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company is exempt from the requirement to prepare consolidated financial statements as all of its subsidiaries are required to be excluded from consolidation by section 402 of the Companies Act 2006.

 
2.3

Going concern

The financial statements have been prepared on the going concern basis.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
SAMUEL LAMONT (HOLDINGS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
40 years
Plant & machinery
-
4 - 8 years
Fixtures & fittings
-
4 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 4

 
SAMUEL LAMONT (HOLDINGS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

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.

 
2.12

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.

 
2.13

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.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets
Page 5

 
SAMUEL LAMONT (HOLDINGS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.14
Financial instruments (continued)


Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 6

 
SAMUEL LAMONT (HOLDINGS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Freehold property
Plant & machinery
Fixtures & fittings
Total

£
£
£
£



Cost or valuation


At 1 January 2023
400,000
31,123
19,560
450,683



At 31 December 2023

400,000
31,123
19,560
450,683



Depreciation


At 1 January 2023
37,993
31,123
19,560
88,676


Charge for the year on owned assets
9,930
-
-
9,930



At 31 December 2023

47,923
31,123
19,560
98,606



Net book value



At 31 December 2023
352,077
-
-
352,077



At 31 December 2022
362,007
-
-
362,007


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
287,102



At 31 December 2023
287,102







6.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
284,694
302,337

Other debtors
-
1,416

Prepayments and accrued income
1,667
149

286,361
303,902


Page 7

 
SAMUEL LAMONT (HOLDINGS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,479
1,038

1,479
1,038



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Obligations under finance lease and hire purchase contracts
-
1,416

Accruals and deferred income
4,254
2,778

4,254
4,194



9.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
1,479
4,484




Financial assets measured at fair value through profit or loss comprise cash and cash equivalents.

Page 8

 
SAMUEL LAMONT (HOLDINGS) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



164,325 (2022 - 164,325) Ordinary shares of £1.00 each
164,325
164,325



11.


Reserves

Revaluation reserve

The revaluation reserve includes all current and prior period surplusses and deficits on the revaluation of freehold property.

Capital redemption reserve

This reserve records the nominal value of shares repurchased by the company.

Profit & loss account

The profit and loss account includes all current period retained profits and losses.


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £11,601 (2022: £11,601).


Page 9