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COMPANY REGISTRATION NUMBER: 01080713
Lindenhall Investments Limited
Filleted Unaudited Financial Statements
31 March 2024
Lindenhall Investments Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
4
89,794
94,122
Current assets
Debtors
5
833,723
898,636
Investments
6
40,000
40,000
Cash at bank and in hand
309,243
427,663
------------
------------
1,182,966
1,366,299
Creditors: amounts falling due within one year
7
3,770
7,986
------------
------------
Net current assets
1,179,196
1,358,313
------------
------------
Total assets less current liabilities
1,268,990
1,452,435
------------
------------
Net assets
1,268,990
1,452,435
------------
------------
Capital and reserves
Called up share capital
10,000
10,000
Revaluation reserve
17,491
17,491
Profit and loss account
1,241,499
1,424,944
------------
------------
Shareholders funds
1,268,990
1,452,435
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Lindenhall Investments Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 31 December 2024 , and are signed on behalf of the board by:
A L Galway
Director
Company registration number: 01080713
Lindenhall Investments Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Old Wheel House, 31-37 Church Street, Reigate, Surrey, RH2 0AD.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS102 (Section 1A Small Companies), 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. The entity is a private limited company incorporated in England and Wales.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue in relation to interest arising on factoring facilities is recognised as it accrues.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
-
20% straight line
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The ordinary share capital of the company is the only financial instrument with the attributes of an equity instrument. No changes to the presentation of the company's financial instruments have occurred in the current or previous year.
4. Tangible assets
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023
114,209
114,209
Additions
3,750
20,000
23,750
Disposals
( 10,391)
( 10,391)
---------
--------
---------
At 31 March 2024
107,568
20,000
127,568
---------
--------
---------
Depreciation
At 1 April 2023
20,087
20,087
Charge for the year
20,107
1,250
21,357
Disposals
( 3,670)
( 3,670)
---------
--------
---------
At 31 March 2024
36,524
1,250
37,774
---------
--------
---------
Carrying amount
At 31 March 2024
71,044
18,750
89,794
---------
--------
---------
At 31 March 2023
94,122
94,122
---------
--------
---------
5. Debtors
2024
2023
£
£
Trade debtors
2,586
Amounts owed by group undertakings and undertakings in which the company has a participating interest
318,069
318,069
Other debtors
513,068
580,567
---------
---------
833,723
898,636
---------
---------
6. Investments
2024
2023
£
£
Unlisted Current Asset Investments
40,000
40,000
--------
--------
The unlisted investments are all fixed rate corporate bonds. The amount recorded is the historic cost plus any accrued interest at the balance sheet date.
7. Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
4,276
Other creditors
3,770
3,710
-------
-------
3,770
7,986
-------
-------
8. Financial instruments
The fair value of financial instruments traded in active markets is based on quoted market prices at the balance sheet date. The carrying value less impairment provision (where applicable) of receivables and payables is assumed to be approximate to their fair values.
Hedge accounting
The company does not have any hedging instruments.
9. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
D L Galway
650
331
981
----
----
----
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
D L Galway
290
360
650
----
----
----
10. Related party transactions
During the current year the company took ownership of Motor Vehicles for consideration equal to its net book value of £18,750 (2023 - Plant and Machinery for consideration equal to its net book value of £94,121) from Hands on Skills Training Limited ("HOST"), a company under common control. The company rents the assets back to HOST earning £20,107 (2023 - £20,087) in rental income. As at 31 March 2024 the amount due to the company from HOST was £42,959 (2023 - £114,718), after an impairment of £171,837 was recognised. Interest was charged on outstanding amounts owed amounting to a total of £809 (2023 - £972) during the year. The company has previously advanced a loan to the David Galway Trust. At the year end, the balance outstanding was £1,157 (2023 - £1,157). The company also has outstanding loans of £439,377 (2023 - £439,377) due from Capital Engineering Group Holdings Limited. During the year the company advanced a loan to Galson Properties Ltd a company controlled by Alex Galway. Interest of £6,378 (2023 - £6,361) was charged and the balance at 31 March 2024 was £318,069 (2023 - £318,069). No other transactions with related parties were undertaken such as are required to be disclosed under FRS102 section 1A.
11. Controlling party
Until February 2019, the immediate parent company was Capital Engineering Group Holdings Limited, a company incorporated in England and Wales. Until February 2019, the ultimate parent company was Capital Engineering Group Holdings (2013) Limited, a company incorporated in England and Wales under registration number 08584840. Following a group reorganisation and demerger, from February 2019 the immediate and ultimate parent company is Lindenhall Ventures Limited, a company incorporated in England and Wales. The ultimate controlling party is Mr A Galway, by virtue of his majority shareholding in Lindenhall Ventures Limited.