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COMPANY REGISTRATION NUMBER: 00429170
Lloyd Brothers (Bristol) Limited
Filleted Unaudited Financial Statements
31 March 2024
Lloyd Brothers (Bristol) Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
5,637,600
5,617,600
Current assets
Cash at bank and in hand
31,615
190,136
Creditors: amounts falling due within one year
6
41,739
38,753
--------
---------
Net current (liabilities)/assets
( 10,124)
151,383
------------
------------
Total assets less current liabilities
5,627,476
5,768,983
Creditors: amounts falling due after more than one year
7
1,076,363
1,076,363
------------
------------
Net assets
4,551,113
4,692,620
------------
------------
Capital and reserves
Called up share capital
3,000
3,000
Revaluation reserve
3,862,919
3,862,919
Other reserves
48,000
48,000
Profit and loss account
637,194
778,701
------------
------------
Shareholders funds
4,551,113
4,692,620
------------
------------
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 income and retained earnings has not been delivered.
For the year ending 31 March 2024 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 .
Lloyd Brothers (Bristol) Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 5 September 2024 , and are signed on behalf of the board by:
R J Goode
Director
Company registration number: 00429170
Lloyd Brothers (Bristol) Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Stoke Abbey Farm, 49 Parrys Lane, Bristol, BS9 1AG.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises rents receivable in the year.
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. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Investment property
£
Cost
At 1 April 2023
5,617,600
Additions
20,000
------------
At 31 March 2024
5,637,600
------------
Depreciation
At 1 April 2023 and 31 March 2024
------------
Carrying amount
At 31 March 2024
5,637,600
------------
At 31 March 2023
5,617,600
------------
The freehold properties and related improvements held at 31 March 2015 were revalued by the Directors on 1 September 2014 at £5,657,600. In the opinion of the Directors the current value is not significantly different to that as shown in the accounts. The original cost of all of the freehold properties is £1,842,181.
6. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
32,598
31,943
Social security and other taxes
1,912
3,616
Loan from Rona Lloyd Settlement Trust
199
199
Other creditors
7,030
2,995
--------
--------
41,739
38,753
--------
--------
The loans are secured.
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,076,363
1,076,363
------------
------------
The loans are secured.
8. Related party transactions
One of the properties owned by the Company was occupied by the mother of the Director and Company Secretary. The rent payable by her during the year was £35,945 (2023 - £36,000). The rent is payable on a commercial basis. During the year the trustees of the two trusts, between which the majority shares are held, had short term use of one of the properties owned by the Company at a below commercial rate.