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REGISTERED NUMBER: 00972945 (England and Wales)










FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LONSTO INVESTMENT LIMITED

LONSTO INVESTMENT LIMITED (REGISTERED NUMBER: 00972945)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LONSTO INVESTMENT LIMITED

COMPANY INFORMATION
for the Year Ended 31 MARCH 2024







DIRECTORS: Mrs J C Ancell
R I Dudding





SECRETARY: Mrs J C Ancell





REGISTERED OFFICE: Lonsto House
276 Chase Road
London
N14 6HA





REGISTERED NUMBER: 00972945 (England and Wales)





ACCOUNTANTS: SRG Newmans Limited
Five Ways
57-59 Hatfield Road
Potters Bar
Hertfordshire
EN6 1HS

LONSTO INVESTMENT LIMITED (REGISTERED NUMBER: 00972945)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 16,649 19,315
Investment property 5 9,683,687 9,683,687
9,700,336 9,703,002

CURRENT ASSETS
Debtors 6 5,176,263 4,928,414

CREDITORS
Amounts falling due within one year 7 1,692,531 1,682,758
NET CURRENT ASSETS 3,483,732 3,245,656
TOTAL ASSETS LESS CURRENT
LIABILITIES

13,184,068

12,948,658

CREDITORS
Amounts falling due after more than one
year

8

(568,853

)

(599,472

)

PROVISIONS FOR LIABILITIES (1,222,083 ) (1,222,083 )
NET ASSETS 11,393,132 11,127,103

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 11,392,132 11,126,103
SHAREHOLDERS' FUNDS 11,393,132 11,127,103

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.

LONSTO INVESTMENT LIMITED (REGISTERED NUMBER: 00972945)

BALANCE SHEET - continued
31 MARCH 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 Board of Directors and authorised for issue on 5 November 2024 and were signed on its behalf by:





R I Dudding - Director


LONSTO INVESTMENT LIMITED (REGISTERED NUMBER: 00972945)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2024

1. STATUTORY INFORMATION

Lonsto Investment 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 and management fees at invoiced amounts less value added tax. Rental income and management fees are both recognised in the period to which they relate.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on cost

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where is it not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash- generating unit to which the asset belongs.

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.

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.


LONSTO INVESTMENT LIMITED (REGISTERED NUMBER: 00972945)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

Finance instruments
Basic financial instruments are recognised at amortised cost, except for investments in nonconvertible
preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the income statement. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the income statement.

Lease premiums
Lease premiums are recognised in the income statement in the accounting period that is was received. The value of the leasehold increases in value when the lease premium is received.

Consolidation
In the opinion of the directors, the company and its subsidiary undertakings comprise of 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

LONSTO INVESTMENT LIMITED (REGISTERED NUMBER: 00972945)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 267,185
DEPRECIATION
At 1 April 2023 247,870
Charge for year 2,666
At 31 March 2024 250,536
NET BOOK VALUE
At 31 March 2024 16,649
At 31 March 2023 19,315

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 9,683,687
NET BOOK VALUE
At 31 March 2024 9,683,687
At 31 March 2023 9,683,687

The company's investment properties are carried at their open market value on 31 March 2024 based on a valuation by Mr R I Dudding who is a director of the company. In making the valuations he has considered the value in use of the properties and the present market conditions. Mr R I Dudding is qualified to make the valuations on the basis of his knowledge and experience of the residential and commercial property market.

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2012 5,086,719
Valuation in 2017 2,484,209
Valuation in 2020 (324,413 )
Cost 2,437,172
9,683,687

LONSTO INVESTMENT LIMITED (REGISTERED NUMBER: 00972945)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2024

5. INVESTMENT PROPERTY - continued

All monies due, or to become due, from the company to National Westminster Bank PLC on any account whatsoever, are secured by a fixed charge over the assets of the company and personal guarantees made by Mr R I Dudding, a director of the company.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 75,191 66,238
Amounts owed by group undertakings 5,101,072 4,862,176
5,176,263 4,928,414

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 34,897 38,321
Trade creditors 3,881 2,876
Amounts owed to group undertakings 1,339,000 1,339,000
Taxation and social security 99,487 97,514
Other creditors 215,266 205,047
1,692,531 1,682,758

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 568,853 599,472

9. POST BALANCE SHEET EVENTS

The company made an insurance claim against J Nicholson and Son, in regards to a property held at Lansdowne Place. The amount received, after the year end, from the insurance claim amounted to £150,000.

10. ULTIMATE CONTROLLING PARTY

The company's ultimate controlling party is R I Dudding by virtue of his controlling shareholding in Lonsto Investment (Holdings) Limited.

11. RETAINED EARNINGS

Included in retained earnings is £6,072,032 (2023: £6,072,032) of profits that are not available for distribution as they are unrealised.