2023-01-012023-12-312023-12-31false03748997Lancewich Holdings 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Lancewich Holdings Limited

Registered Number
03748997
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

Lancewich Holdings Limited
Company Information
for the year from 1 January 2023 to 31 December 2023

Directors

Mr N Martin
Ms P F Wong

Company Secretary

Ms P F Wong

Registered Address

8 Dyer Road
Wokingham
RG40 5PG

Registered Number

03748997 (England and Wales)
Lancewich Holdings Limited
Balance Sheet as at
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3550,000500,000
Investments415,00015,000
565,000515,000
Current assets
Debtors61,0001,000
Current asset investments52,51172,797
Cash at bank and on hand45,80642,508
99,317116,305
Creditors amounts falling due within one year7(29,113)(37,510)
Net current assets (liabilities)70,20478,795
Total assets less current liabilities635,204593,795
Provisions for liabilities(48,566)(38,752)
Net assets586,638555,043
Capital and reserves
Called up share capital16,00016,000
Revaluation reserve207,043165,207
Profit and loss account363,595373,836
Shareholders' funds8586,638555,043
The financial statements were approved and authorised for issue by the Board of Directors on 19 September 2024, and are signed on its behalf by:
Mr N Martin
Director
Registered Company No. 03748997
Lancewich Holdings Limited
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The presentation currency of the financial statements is the Pound Sterling (£).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. Current or deferred taxation assets and liabilities are not discounted. Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Included in cost or valuation of land and buildings is freehold land of £550,000 (2022 - £500,000) which is not depreciated.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities. Financial assets are measured at amortised cost and comprise of cash and cash equivalents and trade and other debtors. Financial liabilities are measured at amortised cost and comprise of trade and other creditors.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20232022
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 January 23500,000
Revaluations50,000
At 31 December 23550,000
Net book value
At 31 December 23550,000
At 31 December 22500,000
4.Fixed asset investments

Total

£
Cost or valuation
At 01 January 2315,000
At 31 December 2315,000
Net book value
At 31 December 2315,000
At 31 December 2215,000
5.Revaluation of fixed asset investments
6.Debtors: amounts due within one year

2023

2022

££
Other debtors1,0001,000
Total1,0001,000
7.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables21-
Amounts owed to related parties14,42317,346
Taxation and social security8021,243
Other creditors12,48817,600
Accrued liabilities and deferred income1,3791,321
Total29,11337,510
8.Revaluation reserve

£
Reserve at 01 January 23165,207
Revaluations of plant, property and equipment50,000
Revaluations of other assets1,649
Deferred Tax on Revaluations(9,813)
At 31 December 23207,043