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REGISTERED NUMBER: 11831529 (England and Wales)


















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Lodestone Ampersand Limited

Lodestone Ampersand Limited (Registered number: 11831529)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lodestone Ampersand Limited

Company Information
for the Year Ended 29 February 2024







DIRECTOR: Mr S R Campbell





REGISTERED OFFICE: St George's House
14 George Street
Huntingdon
Cambridgeshire
PE29 3GH





REGISTERED NUMBER: 11831529 (England and Wales)





ACCOUNTANTS: George Hay Partnership LLP
Chartered Accountants
St George's House
George Street
Huntingdon
Cambridgeshire
PE29 3GH

Lodestone Ampersand Limited (Registered number: 11831529)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,350,000 1,410,000

CURRENT ASSETS
Debtors 5 2,228 14,039
Cash at bank 113,417 56,814
115,645 70,853
CREDITORS
Amounts falling due within one year 6 3,835 3,535
NET CURRENT ASSETS 111,810 67,318
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,461,810

1,477,318

CREDITORS
Amounts falling due after more than one
year

7

1,554,159

1,503,967
NET LIABILITIES (92,349 ) (26,649 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (92,449 ) (26,749 )
(92,349 ) (26,649 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Lodestone Ampersand Limited (Registered number: 11831529)

Balance Sheet - continued
29 February 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 September 2024 and were signed by:





Mr S R Campbell - Director


Lodestone Ampersand Limited (Registered number: 11831529)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Lodestone Ampersand Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable on investment properties for the period that these accounts are being reported on.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Lodestone Ampersand Limited (Registered number: 11831529)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 1,410,000
Revaluations (60,000 )
At 29 February 2024 1,350,000
NET BOOK VALUE
At 29 February 2024 1,350,000
At 28 February 2023 1,410,000


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,228 14,039

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 3,835 3,535

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 1,554,159 1,503,967

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgage 132,124 132,114

The loan facility provider has a first charge over the properties held on the balance sheet together with a personal guarantee by the Director Mr S R Campbell.

9. RELATED PARTY DISCLOSURES

At the Balance Sheet date, the company owed a company under common control £1,422,035 (2023: £1,371,853) in respect of a loan.

10. ULTIMATE CONTROLLING PARTY

The parent undertaking is Lodestone Star Limited, the registered office being St George's House, George Street, Huntingdon, Cambridgeshire PE29 3GH.

Lodestone Ampersand Limited (Registered number: 11831529)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

11. GOING CONCERN

Despite having net liabilities of £92,349 the director has formed a reasonable expectation that the company will remain within agreed facilities and continue in operational existence for the foreseeable future. Therefore, the director continues to adopt the going concern basis of accounting in preparation of the annual financial statements.

12. PRIOR YEAR ADJUSTMENT

The prior year reserves have been restated by way of a transfer of the negative balance in the fair value reserve into the profit and loss reserve