Company registration number 13209724 (England and Wales)
LANE CO HOLDINGS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
LANE CO HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
LANE CO HOLDINGS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
60,102
60,102
Current assets
Debtors
4
440,074
216,517
Cash at bank and in hand
14,788
197,985
454,862
414,502
Creditors: amounts falling due within one year
5
(162,885)
(209,993)
Net current assets
291,977
204,509
Net assets
352,079
264,611
Capital and reserves
Called up share capital
7
1
1
Profit and loss reserves
352,078
264,610
Total equity
352,079
264,611
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 17 January 2025
Mr J A Lane
Director
Company registration number 13209724 (England and Wales)
LANE CO HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 2 -
1
Accounting policies
Company information
Lane Co Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 12 Corporation Road, Newport, Gwent, Wales, NP19 0AR.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.4
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense,
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
LANE CO HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
60,102
60,102
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
244,687
216,517
Other debtors
195,387
440,074
216,517
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
161,846
208,969
Other creditors
1,039
1,024
162,885
209,993
LANE CO HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 4 -
6
Subsidiaries
Details of the company's subsidiaries at 30 April 2024 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Square Scaffolding Limited
12 Corporation Road, Newport, Wales, NP19 0AR
Ordinary
51.00
Lane Property Holding
12 Corporation Road, Newport, Wales, NP19 0AR
Ordinary
100.00
Mortgage Lane Limited
12 Corporation Road, Newport, Wales, NP19 0AR
Ordinary
100.00
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
8
Related party transactions
Lane Property Holdings Limited, a subsidiary company which shares the same directors, is owing an amount of £164,293 (2023 - £110,098). This amount is included in debtors; amount falling due within one year.
Square Scaffolding Limited, a subsidiary company which shares the same directors, is owing an amount of £80,394 (2023 - £106,419). This amount is included in debtors; amount falling due within one year
Mortgage Lane Limited, a subsidiary company which shares the same directors, is owed an amount of £161,846 (2023 - £208,969). This amount is included in debtors; amount falling due within one year
9
Directors' transactions
Dividends totalling £62,400 (2023 - £55,400) were paid in the year in respect of shares held by the company's directors.
Advances or credits have been granted by the company to its directors as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
Director
2.25
(40)
258,943
959
(64,475)
195,387
(40)
258,943
959
(64,475)
195,387