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Registered number: 05674204









LANCASTER BROWN SURVEYS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
LANCASTER BROWN SURVEYS LIMITED
REGISTERED NUMBER: 05674204

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
22,904
28,326

  
22,904
28,326

Current assets
  

Debtors: amounts falling due within one year
 5 
116,450
65,934

Cash at bank and in hand
 6 
40,759
31,918

  
157,209
97,852

Creditors: amounts falling due within one year
 7 
(170,683)
(69,873)

Net current (liabilities)/assets
  
 
 
(13,474)
 
 
27,979

Total assets less current liabilities
  
9,430
56,305

Creditors: amounts falling due after more than one year
 8 
(7,875)
(14,624)

  

Net assets
  
1,555
41,681


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
555
40,681

  
1,555
41,681


Page 1

 
LANCASTER BROWN SURVEYS LIMITED
REGISTERED NUMBER: 05674204
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 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: 




G R Silver
Director

Date: 2 December 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
LANCASTER BROWN SURVEYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Lancaster Brown Surveys Limited is a private company limited by shares and incorporated in England and Wales.  The registered office is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH.

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

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.

Page 3

 
LANCASTER BROWN SURVEYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:.

Depreciation is provided on the following basis:

Short-term leasehold property
-
10% Straight Line
Motor vehicles
-
25% Straight Line
Fixtures and fittings
-
15% Reducing Balance
Computer equipment
-
25%Reducing Balance

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.

 
2.4

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.

 
2.5

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.

 
2.6

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.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
LANCASTER BROWN SURVEYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Taxation

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.



3.


Employees

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


4.


Tangible fixed assets





Land & buildings
Motor vehicles
Plant & machinery etc
Computer equipment
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
54,448
71,510
87,547
5,801
219,306



At 31 March 2024

54,448
71,510
87,547
5,801
219,306



Depreciation


At 1 April 2023
51,448
71,510
63,457
4,565
190,980


Charge for the year on owned assets
1,500
-
3,613
309
5,422



At 31 March 2024

52,948
71,510
67,070
4,874
196,402



Net book value



At 31 March 2024
1,500
-
20,477
927
22,904



At 31 March 2023
3,000
-
24,090
1,236
28,326

Page 5

 
LANCASTER BROWN SURVEYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

           4.Tangible fixed assets (continued)




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Short leasehold
1,500
3,000

1,500
3,000



5.


Debtors

2024
2023
£
£

Due after more than one year



2024
2023
£
£

Trade debtors
24,734
13,484

Other debtors
57,339
10,751

Prepayments and accrued income
34,377
41,699

116,450
65,934



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
40,759
31,918

40,759
31,918


Page 6

 
LANCASTER BROWN SURVEYS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,844
12,332

Corporation tax
12,335
8,371

Other taxation and social security
23,228
17,294

Obligations under finance lease and hire purchase contracts
12,613
25,519

Other creditors
113,108
1,383

Accruals and deferred income
7,555
4,974

170,683
69,873



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
7,875
14,624

7,875
14,624



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due 1-2 years

Bank loans
7,875
14,625



10.


Related party transactions

During the year, the company paid rent of  £28,000 (2023: £24,000) at arm's length to Silver Family Pension Scheme, in which both directors are also beneficiaries.
As at the balance sheet date, the company was owed £56,954 from the directors, this has subsequently been repaid to the company.
Included in other creditors is an amount of £111,844 (2023: £Nil) owed to a related entity under common control.

 
Page 7