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REGISTERED NUMBER: 02327702 (England and Wales)















THE LAVENHAM GROUP LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024






THE LAVENHAM GROUP LIMITED (REGISTERED NUMBER: 02327702)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 9


THE LAVENHAM GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: T. A. J. Dalton
E. H. Whitehair





REGISTERED OFFICE: Arbons House
Water Street
Lavenham
Suffolk
CO10 9RN





REGISTERED NUMBER: 02327702 (England and Wales)

THE LAVENHAM GROUP LIMITED (REGISTERED NUMBER: 02327702)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 1 1
Property, plant and equipment 5 993,313 937,254
Investments 6 661,103 683,864
Investment property 7 270,000 270,000
1,924,417 1,891,119

CURRENT ASSETS
Debtors 8 111,228 136,726
Cash at bank 10,007 19,307
121,235 156,033
CREDITORS
Amounts falling due within one year 9 (85,268 ) (98,216 )
NET CURRENT ASSETS 35,967 57,817
TOTAL ASSETS LESS CURRENT LIABILITIES 1,960,384 1,948,936

CREDITORS
Amounts falling due after more than one
year

10

(131,114

)

(106,870

)

PROVISIONS FOR LIABILITIES (24,462 ) (7,819 )
NET ASSETS 1,804,808 1,834,247

THE LAVENHAM GROUP LIMITED (REGISTERED NUMBER: 02327702)

BALANCE SHEET - continued
31 MARCH 2024

2024 2023
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 374,000 374,000
Revaluation reserve 12 229,980 229,980
Capital redemption reserve 12 187,000 187,000
Fair value reserve 12 361,609 384,370
Retained earnings 12 652,219 658,897
1,804,808 1,834,247

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 October 2024 and were signed on its behalf by:





T. A. J. Dalton - Director


THE LAVENHAM GROUP LIMITED (REGISTERED NUMBER: 02327702)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

The Lavenham Group 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.

The presentation currency of the financial statements is the Pound Sterling (£), rounded to the nearest Pound.

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.

Consolidation
In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

Turnover
The turnover shown in the statement of comprehensive income is the total amount receivable by the company for goods supplied and services provided, excluding VAT and trade discounts.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - Not depreciated
Plant and machinery - 33% on cost and 10% on cost
Motor vehicles - 25% on cost

No depreciation has been provided on the freehold land and buildings. This is because the company implements a policy of regular maintenance and repairs, resulting in the depreciation charge and accumulated depreciation for the year being immaterial. This departure from generally accepted accounting practice is considered necessary for the financial statements to show a true and fair view.

Investments in subsidiaries
Investments are included at fair value. Gains and losses are recognised in the statement of comprehensive income. Deferred taxation is not provided on these gains as the company would be entitled to corporation tax relief on the sale of the investment.

Investment property
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. The net of tax amount is transferred to a fair value reserve.

THE LAVENHAM GROUP LIMITED (REGISTERED NUMBER: 02327702)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised at amortised cost.

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.

Pension costs
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the income statement using the effective interest rate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

THE LAVENHAM GROUP LIMITED (REGISTERED NUMBER: 02327702)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

5. PROPERTY, PLANT AND EQUIPMENT
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST OR VALUATION
At 1 April 2023 895,465 53,905 72,510 1,021,880
Additions - - 93,770 93,770
Disposals - - (72,510 ) (72,510 )
At 31 March 2024 895,465 53,905 93,770 1,043,140
DEPRECIATION
At 1 April 2023 - 47,238 37,388 84,626
Charge for year - 635 20,081 20,716
Eliminated on disposal - - (55,515 ) (55,515 )
At 31 March 2024 - 47,873 1,954 49,827
NET BOOK VALUE
At 31 March 2024 895,465 6,032 91,816 993,313
At 31 March 2023 895,465 6,667 35,122 937,254

Cost or valuation of freehold property as at 31 March 2024 is represented by:

£
Cost665,485
Revaluation229,980
895,465

The valuation was adopted at deemed cost upon transition to FRS 102 1A and so the policy of revaluation has not been continued.


THE LAVENHAM GROUP LIMITED (REGISTERED NUMBER: 02327702)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 April 2023 683,864
Revaluations (22,761 )
At 31 March 2024 661,103
NET BOOK VALUE
At 31 March 2024 661,103
At 31 March 2023 683,864

Investments in subsidiaries were valued on an open market basis on 31 March 2024 by the directors.

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 270,000
NET BOOK VALUE
At 31 March 2024 270,000
At 31 March 2023 270,000

The investment property was valued on an open market basis on 31 March 2024 by the directors.

Cost or valuation at 31 March 2024 is represented by:

£
Cost 194,995
Revaluations 75,005
270,000

THE LAVENHAM GROUP LIMITED (REGISTERED NUMBER: 02327702)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by subsidiary undertakings 92,458 121,951
Prepayments and accrued income 18,770 14,775
111,228 136,726

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 14,243 14,129
Hire purchase contracts 16,668 18,761
Trade creditors 19,125 16,115
Corporation tax 9,155 21,267
Other taxes and social security 13,401 14,882
Directors' current accounts 6,819 7,074
Accruals and deferred income 5,857 5,988
85,268 98,216

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 32,156 30,918
Bank loans - 2-5 years 58,863 52,724
Bank loans more than 5 years 2,563 23,228
Hire purchase contracts 37,532 -
131,114 106,870

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 2,563 23,228

THE LAVENHAM GROUP LIMITED (REGISTERED NUMBER: 02327702)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 107,825 120,999
Hire purchase contracts 54,200 18,761
162,025 139,760

The bank loan of the company is secured by way of a fixed charge on the freehold property known as 4 and 5 Windham Road, Sudbury, CO10 2XD.

12. RESERVES





Retained
earnings

Revaluation
reserve
Capital
redemption
reserve

Fair value
reserve


Totals
£££££

At 1 April 2023658,897229,980187,000384,3701,460,247
Profit for the year49,761---49,761
Dividends(79,200)---(79,200)
Fair value adjustment22,761--(22,761)-
At 31 March 2024652,219229,980187,000361,6091,430,808

The reserves movements in the comparative year were as follows:




Retained
earnings

Revaluation
reserve
Capital
redemption
reserve

Fair value
reserve


Totals
£££££

At 1 April 2022655,041229,980187,000389,3831,462,404
Profit for the year77,043---77,043
Dividends(79,200)---(79,200)
Fair value adjustment5,013--(5,013)-
At 31 March 2023658,897229,980187,000384,3701,460,247