Registration number:
Daniel Lambert Limited
for the Year Ended 31 May 2024
Daniel Lambert Limited
(Registration number: 08091210)
Balance Sheet as at 31 May 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Investments |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Revaluation reserve |
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Profit and loss account |
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Shareholders' funds |
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For the financial year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.
Daniel Lambert Limited
(Registration number: 08091210)
Balance Sheet as at 31 May 2024 (continued)
.........................................
N J B Smith
Director
Daniel Lambert Limited
Statement of Changes in Equity for the Year Ended 31 May 2024
Share capital |
Fair value reserve |
Profit and loss account |
Total |
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At 1 June 2023 |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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Fair value and deferred tax adjustments |
- |
(187,011) |
187,011 |
- |
At 31 May 2024 |
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Share capital |
Revaluation reserve |
Retained earnings |
Total |
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At 1 June 2022 |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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Transfers |
- |
279,072 |
(279,072) |
- |
At 31 May 2023 |
11,522,610 |
845,827 |
1,821,905 |
14,190,342 |
Daniel Lambert Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024
Accounting policies |
Statutory information
Daniel Lambert Limited is a private company, limited by shares, domiciled in England and Wales, company number 08091210. The registered office is at Pegasus House, 463a Glossop Road, S10 2QD.
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax shall be recognised in respect of all timing differences at the reporting date, except as otherwise required by FRS102. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that 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 income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Daniel Lambert Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)
1 |
Accounting policies (continued) |
Investment property
This treatment as regards the company's investment properites may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the director considers that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be seperately identified or quantified.
Financial assets
Investments in shares are included at fair value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Financial instruments
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Daniel Lambert Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)
Tangible assets |
Land and buildings |
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Cost or valuation |
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At 1 June 2023 |
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Additions |
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Disposals |
( |
At 31 May 2024 |
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Depreciation |
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Carrying amount |
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At 31 May 2024 |
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At 31 May 2023 |
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The investment property was valued by the director on an open market basis at £30,088,349 as at 31 May 2024 (2023 - £30,561,574). The historical cost of the investment was £29,290,758 (2023 - £29,536,407).
Debtors |
Current |
2024 |
2023 |
Other debtors |
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Other financial assets (current and non-current) |
2024 |
2023 |
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Financial assets at fair value through profit and loss |
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The historical cost of the investments as at 31 May 2024 was £9,012 (2023: £9,012).
Daniel Lambert Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024 (continued)
Creditors |
2024 |
2023 |
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Due within one year |
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Loans and borrowings |
- |
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Directors current accounts |
3,869,472 |
4,296,472 |
Taxation and social security |
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Other creditors |
13,054 |
16,380 |
Accruals and deferred income |
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Due after one year |
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Loans and borrowings |
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Amounts owed to related parties |
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Related party transactions |
The director's current account included in creditors is a joint loan and is due within one year and is interest free, as is the related parties loan.