Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-282024-02-28falsetrue2023-03-01No description of principal activity4548trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00972835 2023-03-01 2024-02-28 00972835 2022-03-01 2023-02-28 00972835 2024-02-28 00972835 2023-02-28 00972835 c:Director2 2023-03-01 2024-02-28 00972835 d:Buildings 2023-03-01 2024-02-28 00972835 d:Buildings 2024-02-28 00972835 d:Buildings 2023-02-28 00972835 d:Buildings d:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 00972835 d:Buildings d:ShortLeaseholdAssets 2023-03-01 2024-02-28 00972835 d:Buildings d:ShortLeaseholdAssets 2024-02-28 00972835 d:Buildings d:ShortLeaseholdAssets 2023-02-28 00972835 d:PlantMachinery 2023-03-01 2024-02-28 00972835 d:PlantMachinery 2024-02-28 00972835 d:PlantMachinery 2023-02-28 00972835 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 00972835 d:MotorVehicles 2023-03-01 2024-02-28 00972835 d:FurnitureFittings 2023-03-01 2024-02-28 00972835 d:OwnedOrFreeholdAssets 2023-03-01 2024-02-28 00972835 d:CurrentFinancialInstruments 2024-02-28 00972835 d:CurrentFinancialInstruments 2023-02-28 00972835 d:Non-currentFinancialInstruments 2024-02-28 00972835 d:Non-currentFinancialInstruments 2023-02-28 00972835 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-28 00972835 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 00972835 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-28 00972835 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 00972835 d:ShareCapital 2024-02-28 00972835 d:ShareCapital 2023-02-28 00972835 d:SharePremium 2024-02-28 00972835 d:SharePremium 2023-02-28 00972835 d:RevaluationReserve 2024-02-28 00972835 d:RevaluationReserve 2023-02-28 00972835 d:RetainedEarningsAccumulatedLosses 2024-02-28 00972835 d:RetainedEarningsAccumulatedLosses 2023-02-28 00972835 c:FRS102 2023-03-01 2024-02-28 00972835 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 00972835 c:FullAccounts 2023-03-01 2024-02-28 00972835 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 00972835 d:WithinOneYear 2024-02-28 00972835 d:WithinOneYear 2023-02-28 00972835 d:BetweenOneFiveYears 2024-02-28 00972835 d:BetweenOneFiveYears 2023-02-28 00972835 d:MoreThanFiveYears 2024-02-28 00972835 d:MoreThanFiveYears 2023-02-28 00972835 5 2023-03-01 2024-02-28 00972835 e:PoundSterling 2023-03-01 2024-02-28 iso4217:GBP xbrli:pure
Company registration number: 00972835







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
28 FEBRUARY 2024


LYTTON ENTERPRISES LIMITED






































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LYTTON ENTERPRISES LIMITED
REGISTERED NUMBER:00972835



STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
772,740
878,206

Investments
  
500,000
-

  
1,272,740
878,206

Current assets
  

Stocks
  
54,934
59,421

Debtors: amounts falling due within one year
 6 
213,746
447,878

Cash at bank and in hand
  
14,665
513,098

  
283,345
1,020,397

Creditors: amounts falling due within one year
 7 
(655,558)
(809,672)

Net current (liabilities)/assets
  
 
 
(372,213)
 
 
210,725

Total assets less current liabilities
  
900,527
1,088,931

Creditors: amounts falling due after more than one year
 8 
(13,467)
(23,373)

Provisions for liabilities
  

Deferred tax
  
(27,738)
(26,234)

  
 
 
(27,738)
 
 
(26,234)

Net assets
  
859,322
1,039,324


Capital and reserves
  

Called up share capital 
  
66,000
66,000

Share premium account
  
65,000
65,000

Revaluation reserve
  
126,469
137,604

Profit and loss account
  
601,853
770,720

  
859,322
1,039,324


Page 1

 


LYTTON ENTERPRISES LIMITED
REGISTERED NUMBER:00972835


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Lady M F Lytton Cobbold
Director

Date: 27 November 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


LYTTON ENTERPRISES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

1.


General information

Lytton Enterprises 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 (£).

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 


LYTTON ENTERPRISES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
Not depreciated
Short-term leasehold property
-
Straight line basis over the estimated useful life
Plant and machinery
-
25%
Motor vehicles
-
25%
Fixtures and fittings
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

It is the policy of the company not to provide depreciation on freehold property. The property is maintained to a high standard and the directors consider that the life of the property is so long and that the residual value is so great that the depreciation is not considered material.

Page 4

 


LYTTON ENTERPRISES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

2.Accounting policies (continued)

 
2.6

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.9

Financial instruments

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.


3.


Employees

The average monthly number of employees, including directors, during the year was 45 (2023 - 48).

Page 5

 


LYTTON ENTERPRISES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

4.


Tangible fixed assets





Freehold property
Short-term leasehold property
Plant and machinery
Total

£
£
£
£



Cost or valuation


At 1 March 2023
131,600
2,081,328
1,428,174
3,641,102


Additions
-
-
31,196
31,196



At 28 February 2024

131,600
2,081,328
1,459,370
3,672,298



Depreciation


At 1 March 2023
-
1,486,749
1,276,147
2,762,896


Charge for the year on owned assets
-
76,900
59,762
136,662



At 28 February 2024

-
1,563,649
1,335,909
2,899,558



Net book value



At 28 February 2024
131,600
517,679
123,461
772,740



At 28 February 2023
131,600
594,579
152,027
878,206

Included within land and buildings is £131,600 in respect of freehold property. The freehold property is stated at cost of acquisition and no depreciation is provided in this respect.
On 31st October 1990, Messrs Humbers Chartered Surveyors revalued the principal leasehold property at £545,000 on an existing use basis. The total value on a historical cost basis at 31st October 1990 would have amounted to £100,176.
The company is applying the transitional provisions of Financial Reporting Standard 102 and the policy of revaluation has not been updated since the date of the last valuation described above.


5.


Fixed asset investments





Other fixed asset investments

£



Cost or valuation


Additions
500,000



At 28 February 2024
500,000




Page 6

 


LYTTON ENTERPRISES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
60,360
67,095

Other debtors
98,623
324,064

Prepayments and accrued income
54,763
56,719

213,746
447,878



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
139,702
-

Bank loans
10,648
10,648

Trade creditors
50,909
236,323

Corporation tax
-
41,285

Other taxation and social security
19,307
31,493

Other creditors
430,442
286,264

Accruals and deferred income
4,550
203,659

655,558
809,672


The following liabilities were secured:

2024
2023
£
£



Bank overdrafts
139,702
-

139,702
-

Details of security provided:

The bank overdrafts are secured by a fixed and floating charge over the company's assets.


8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
13,467
23,373

13,467
23,373


Page 7

 


LYTTON ENTERPRISES LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024

9.


Related party transacations

At the balance sheet date the company owed £261,743 to Knebworth Estates and £95,634 to Lytton Land Limited. These balances can be found within creditors due within one year. The director, The Hon E S F Lytton Cobbold, has an interest in a loan balance of £198,025. No interest is being charged on these balances.
At the balance sheet date the company was owed £77,232 by Knebworth House Education and Preservation Trust and £4,376 by Lodge Farm Partnership. These balances can be found within debtors due within one year. No interest is being charged on these balances.


10.


Commitments under operating leases

At 28 February 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
55,056
55,056

Later than 1 year and not later than 5 years
220,224
220,224

Later than 5 years
857,002
911,752

1,132,282
1,187,032

 
Page 8