Caseware UK (AP4) 2023.0.135 2023.0.135 2023-01-01falseinvestment and development of property.44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04308308 2023-01-01 2023-12-31 04308308 2023-12-31 04308308 2022-01-01 2022-12-31 04308308 2022-12-31 04308308 c:Director4 2023-01-01 2023-12-31 04308308 d:MotorVehicles 2023-01-01 2023-12-31 04308308 d:MotorVehicles 2023-12-31 04308308 d:MotorVehicles 2022-12-31 04308308 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 04308308 d:FurnitureFittings 2023-01-01 2023-12-31 04308308 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 04308308 d:FreeholdInvestmentProperty 2023-01-01 2023-12-31 04308308 d:FreeholdInvestmentProperty 2023-12-31 04308308 d:FreeholdInvestmentProperty 2022-12-31 04308308 d:CurrentFinancialInstruments 2023-12-31 04308308 d:CurrentFinancialInstruments 2022-12-31 04308308 d:Non-currentFinancialInstruments 2023-12-31 04308308 d:Non-currentFinancialInstruments 2022-12-31 04308308 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04308308 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 04308308 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 04308308 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 04308308 d:ShareCapital 2023-12-31 04308308 d:ShareCapital 2022-12-31 04308308 d:OtherMiscellaneousReserve 2023-12-31 04308308 d:OtherMiscellaneousReserve 2022-12-31 04308308 d:RetainedEarningsAccumulatedLosses 2023-12-31 04308308 d:RetainedEarningsAccumulatedLosses 2022-12-31 04308308 c:OrdinaryShareClass1 2023-01-01 2023-12-31 04308308 c:OrdinaryShareClass1 2023-12-31 04308308 c:OrdinaryShareClass1 2022-12-31 04308308 c:OrdinaryShareClass2 2023-01-01 2023-12-31 04308308 c:OrdinaryShareClass2 2023-12-31 04308308 c:OrdinaryShareClass2 2022-12-31 04308308 c:FRS102 2023-01-01 2023-12-31 04308308 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 04308308 c:FullAccounts 2023-01-01 2023-12-31 04308308 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 04308308













Lordstones Developments Limited

Financial statements
Information for filing with the registrar

31 December 2023




 
Lordstones Developments Limited


Balance sheet
At 31 December 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
  
34,197
-

Investment property
 5 
23,806,202
22,591,279

  
23,840,399
22,591,279

Current assets
  

Debtors
 6 
16,717,786
16,100,854

Bank and cash in hand
  
1,033,152
1,288,062

  
17,750,938
17,388,916

Creditors: amounts falling due within one year
 7 
(11,532,074)
(11,037,682)

Net current assets
  
 
 
6,218,864
 
 
6,351,234

Total assets less current liabilities
  
30,059,263
28,942,513

Creditors: amounts falling due after more than one year
  
(29,520)
-

Provisions for liabilities
  

Deferred tax
  
(1,269,288)
(1,261,436)

Net assets
  
28,760,455
27,681,077


Capital and reserves
  

Called up share capital 
 9 
1
1

Non distributable reserves
  
9,266,285
9,266,285

Distributable profit and loss reserves
  
19,494,169
18,414,791

Shareholders' funds
  
28,760,455
27,681,077


1

 
Lordstones Developments Limited

    
Balance sheet (continued)
At 31 December 2023

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 4 September 2024.




S J Pickup
Director

Company registered number: 04308308
The notes on pages 3 to 7 form part of these financial statements. 

2

 
Lordstones Developments Limited
 
 

Notes to the financial statements
Year ended 31 December 2023

1.


General information

Lordstones Developments Limited is a private company limited by shares incorporated and domiciled in England and Wales. The registered office is 26 Ellerbeck Court, Stokesley, Middlesbrough, England, TS9 5PT.

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.

  
2.2

Revenue

Rental income from operating leases is recognised on a straight line basis over the lease term.

 
2.3

Leased assets: the company as lessee

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and 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 respectively.

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 all 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 values 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.

3

 
Lordstones Developments Limited
 

 
Notes to the financial statements
Year ended 31 December 2023

2.Accounting policies (continued)

 
2.5

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.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
straight line
Leased assets
-
20%
straight line (duration of the lease term)

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.


3.


Employees

The company has no employees other than the directors, who did not receive any remuneration.


4

 
Lordstones Developments Limited
 
 

Notes to the financial statements
Year ended 31 December 2023

4.


Tangible fixed assets





Leased assets

£



Cost or valuation


Additions
38,714



At 31 December 2023

38,714



Depreciation


Charge for the year
4,517



At 31 December 2023

4,517



Net book value



At 31 December 2023
34,197



At 31 December 2022
-


5.


Investment property


Freehold investment property

£



Valuation


At 1 January 2023
22,591,279


Additions at cost
1,214,923



At 31 December 2023
23,806,202

The 2023 valuations were made by the directors, on an open market and existing use basis.




5

 
Lordstones Developments Limited
 
 

Notes to the financial statements
Year ended 31 December 2023

6.


Debtors

2023
2022
£
£


Trade debtors
38,063
45,186

Amounts owed by group undertakings
16,663,393
15,465,322

Other debtors
4,867
583,290

Prepayments and accrued income
11,463
7,056

16,717,786
16,100,854



7.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
3,218
1,610

Amounts owed to group undertakings
10,688,267
10,273,077

Corporation tax
-
59,065

Other taxation and social security
26,231
-

Obligations under finance lease and hire purchase contracts
5,868
-

Other creditors
64,623
64,623

Accruals and deferred income
743,867
639,307

11,532,074
11,037,682



8.


Creditors: amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
29,520
-

29,520
-


6

 
Lordstones Developments Limited
 
 

Notes to the financial statements
Year ended 31 December 2023

9.


Share capital

2023
2022
$
$
Allotted, called up and fully paid



50 (2022 - 50) Ordinary shares of $0.010 each
0.50
0.50
500 (2022 - 500) Preference shares of $0.001 each
0.50
0.50

1.00

1.00



10.


Directors' benefits; advances, credits and guarantees

Included within other creditors at 31 December 2023 is £64,623 owed to the directors (2022 : £64,623). This loan is interest free, unsecured and repayable on demand.


11.


Controlling party

The parent entity is Wainstones Investments Limited by virtue of it holding 100% of share capital.
The ultimate controlling entity is Carlton Energy Limited.

 
7