Caseware UK (AP4) 2023.0.135 2023.0.135 2024-02-292024-02-299falsetruetruefalseThe principal activity of the Company is that of commercial property rental.2023-03-015The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01758104 2023-03-01 2024-02-29 01758104 2022-03-01 2023-02-28 01758104 2024-02-29 01758104 2023-02-28 01758104 2022-03-01 01758104 c:Director2 2023-03-01 2024-02-29 01758104 d:FurnitureFittings 2023-03-01 2024-02-29 01758104 d:FurnitureFittings 2024-02-29 01758104 d:FurnitureFittings 2023-02-28 01758104 d:FreeholdInvestmentProperty 2023-03-01 2024-02-29 01758104 d:FreeholdInvestmentProperty 2024-02-29 01758104 d:FreeholdInvestmentProperty 2023-02-28 01758104 d:FreeholdInvestmentProperty 2 2023-03-01 2024-02-29 01758104 d:CurrentFinancialInstruments 2024-02-29 01758104 d:CurrentFinancialInstruments 2023-02-28 01758104 d:Non-currentFinancialInstruments 2024-02-29 01758104 d:Non-currentFinancialInstruments 2023-02-28 01758104 d:CurrentFinancialInstruments d:WithinOneYear 2024-02-29 01758104 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 01758104 d:Non-currentFinancialInstruments d:AfterOneYear 2024-02-29 01758104 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 01758104 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-02-29 01758104 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-02-28 01758104 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-02-29 01758104 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 01758104 d:ShareCapital 2023-03-01 2024-02-29 01758104 d:ShareCapital 2024-02-29 01758104 d:ShareCapital 2022-03-01 2023-02-28 01758104 d:ShareCapital 2023-02-28 01758104 d:ShareCapital 2022-03-01 01758104 d:RevaluationReserve 2023-03-01 2024-02-29 01758104 d:RevaluationReserve 2024-02-29 01758104 d:RevaluationReserve 2022-03-01 2023-02-28 01758104 d:RevaluationReserve 2023-02-28 01758104 d:RevaluationReserve 2022-03-01 01758104 d:RetainedEarningsAccumulatedLosses 2023-03-01 2024-02-29 01758104 d:RetainedEarningsAccumulatedLosses 2024-02-29 01758104 d:RetainedEarningsAccumulatedLosses 2022-03-01 2023-02-28 01758104 d:RetainedEarningsAccumulatedLosses 2023-02-28 01758104 d:RetainedEarningsAccumulatedLosses 2022-03-01 01758104 c:OrdinaryShareClass1 2023-03-01 2024-02-29 01758104 c:OrdinaryShareClass1 2024-02-29 01758104 c:OrdinaryShareClass1 2023-02-28 01758104 c:OrdinaryShareClass2 2023-03-01 2024-02-29 01758104 c:OrdinaryShareClass2 2024-02-29 01758104 c:OrdinaryShareClass2 2023-02-28 01758104 c:OrdinaryShareClass3 2023-03-01 2024-02-29 01758104 c:OrdinaryShareClass3 2024-02-29 01758104 c:OrdinaryShareClass3 2023-02-28 01758104 c:FRS102 2023-03-01 2024-02-29 01758104 c:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 01758104 c:FullAccounts 2023-03-01 2024-02-29 01758104 c:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 01758104 2 2023-03-01 2024-02-29 01758104 f:PoundSterling 2023-03-01 2024-02-29 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 01758104









LIME GROVE DEVELOPMENTS LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
LIME GROVE DEVELOPMENTS LIMITED
REGISTERED NUMBER: 01758104

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
Note
£
£

Fixed assets
  

Investment property
 5 
4,507,222
4,250,000

  
4,507,222
4,250,000

Current assets
  

Debtors: amounts falling due after more than one year
 6 
18,256
69,305

Debtors: amounts falling due within one year
 6 
54,026
56,449

Cash at bank and in hand
 7 
137,557
281,161

  
209,839
406,915

Creditors: amounts falling due within one year
 8 
(136,827)
(175,383)

Net current assets
  
 
 
73,012
 
 
231,532

Total assets less current liabilities
  
4,580,234
4,481,532

Creditors: amounts falling due after more than one year
 9 
(1,151,265)
(1,217,526)

  

Net assets
  
3,428,969
3,264,006


Capital and reserves
  

Called up share capital 
 11 
6,400
6,400

Revaluation reserve
  
2,464,502
2,264,502

Profit and loss account
  
958,067
993,104

  
3,428,969
3,264,006


Page 1

 
LIME GROVE DEVELOPMENTS LIMITED
REGISTERED NUMBER: 01758104

BALANCE SHEET (CONTINUED)
AS AT 29 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 statement of comprehensive income 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: 




S C Hayter
Director

Date: 26 November 2024

The notes on pages 5 to 14 form part of these financial statements.

Page 2

 
LIME GROVE DEVELOPMENTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 29 FEBRUARY 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 March 2023
6,400
2,264,502
993,104
3,264,006


Comprehensive income for the year

Profit for the year
-
-
247,942
247,942
Total comprehensive income for the year
-
-
247,942
247,942


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(82,979)
(82,979)

Transfer to/from profit and loss account
-
200,000
(200,000)
-


Total transactions with owners
-
200,000
(282,979)
(82,979)


At 29 February 2024
6,400
2,464,502
958,067
3,428,969


The notes on pages 5 to 14 form part of these financial statements.

Page 3

 
LIME GROVE DEVELOPMENTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 28 FEBRUARY 2023


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 March 2022
6,400
1,464,502
978,415
2,449,317


Comprehensive income for the year

Profit for the year
-
-
893,360
893,360
Total comprehensive income for the year
-
-
893,360
893,360


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(78,671)
(78,671)

Transfer to/from profit and loss account
-
800,000
(800,000)
-


Total transactions with owners
-
800,000
(878,671)
(78,671)


At 28 February 2023
6,400
2,264,502
993,104
3,264,006


The notes on pages 5 to 14 form part of these financial statements.

Page 4

 
LIME GROVE DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Lime Grove Developments Limited is a private company limited by shares in England and Wales, United Kingdom. The registered office of the Company is Causeway House, 1 Dane Street, Bishops Stortford, Hertfordshire, CM23 3BT. The Company's registered number is 01758104. The Company's place of business address is Unit H, Woodside Suite 15-16, Peek Business Centre, Dunmow Road, Bishops Stortford, Hertfordshire, CM23 5RG.

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

Interest income

Interest income is recognised in the Statement of Income and Retained Earnings using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in the Statement of Income and Retained Earnings in the year in which they are incurred.

Page 5

 
LIME GROVE DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.6

Taxation

Tax is recognised in the Statement of Income and Retained Earnings 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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.7

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:

Fixtures and fittings
-
10%

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 the Statement of Income and Retained Earnings.

 
2.8

Investment property

Investment property is carried at fair value determined by the Directors or external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Income and Retained Earnings.

Page 6

 
LIME GROVE DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 5).

Page 7

 
LIME GROVE DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Fixtures and fittings

£



Cost or valuation


At 1 March 2023
6,467



At 29 February 2024

6,467



Depreciation


At 1 March 2023
6,467



At 29 February 2024

6,467



Net book value



At 29 February 2024
-



At 28 February 2023
-

Page 8

 
LIME GROVE DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Investment property





Freehold investment property

£



Valuation


At 1 March 2023
4,250,000


Additions at cost
57,222


Surplus on revaluation
200,000



At 29 February 2024
4,507,222

The 2024 valuations were made by the directors, on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

29 February
28 February
2024
2023
£
£


Historic cost
2,042,720
1,985,498

2,042,720
1,985,498


6.


Debtors

29 February
28 February
2024
2023
£
£

Due after more than one year

Other debtors
18,256
69,305

18,256
69,305


29 February
28 February
2024
2023
£
£

Due within one year

Trade debtors
15,678
46,852

Other debtors
34,159
6,936

Prepayments and accrued income
4,189
2,661

54,026
56,449

Page 9

 
LIME GROVE DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

6.Debtors (continued)


Page 10

 
LIME GROVE DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

7.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
137,557
281,161

137,557
281,161



8.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Bank loans
56,000
56,000

Corporation tax
11,963
21,939

Other taxation and social security
20,300
35,888

Other creditors
23,682
38,421

Accruals and deferred income
24,882
23,135

136,827
175,383


The following liabilities were secured:

29 February
28 February
2024
2023
£
£



Handelsbanken mortgage
56,000
56,000

56,000
56,000

Details of security provided:

The Handelsbanken mortgage is secured by a way of personal guarantee by Lime Grove Estate, Falconer Road, Haverhill, Suffolk, CB9 7XU and its associated assets. 

Page 11

 
LIME GROVE DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

9.


Creditors: Amounts falling due after more than one year

29 February
28 February
2024
2023
£
£

Bank loans
1,151,265
1,217,526

1,151,265
1,217,526


The following liabilities were secured:

29 February
28 February
2024
2023
£
£



Handelsbanken mortgage
1,134,000
1,190,000

1,134,000
1,190,000

Details of security provided:

The Handelsbanken mortgage is secured by a way of personal guarantee by Lime Grove Estate, Falconer Road, Haverhill, Suffolk, CB9 7XU and its associated assets. 

Page 12

 
LIME GROVE DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

10.


Loans


Analysis of the maturity of loans is given below:


29 February
28 February
2024
2023
£
£

Amounts falling due within one year

Bank loans
56,000
56,000


56,000
56,000

Amounts falling due 1-2 years

Bank loans
56,000
56,000


56,000
56,000

Amounts falling due 2-5 years

Bank loans
1,095,265
1,161,526


1,095,265
1,161,526


1,207,265
1,273,526



11.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



1,400 (2023 - 1,400) Ordinary A shares of £1.00 each
1,400
1,400
1,800 (2023 - 1,800) Ordinary B-Non Voting shares of £1.00 each
1,800
1,800
3,200 (2023 - 3,200) Ordinary C-Non Voting shares of £1.00 each
3,200
3,200

6,400

6,400


Page 13

 
LIME GROVE DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

12.


Related party transactions

During the year the Company entered into the following transactions with Grosvenor Fabrications Ltd, a Company of which S C Hayter is a Director.


29 February
28 February
2024
2023
£
£

Debtor balance brought forward
83,558
64,517
Loan issued in the year
-
50,000
Payments made in the year
34,500
34,500
Interest received on loan
3,408
3,541
Debtor balance at year end
52,466
83,558


Page 14