Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31falsetruefalse2023-05-091The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14857799 2023-05-08 14857799 2023-05-09 2024-05-31 14857799 2022-05-09 2023-05-08 14857799 2024-05-31 14857799 c:Director1 2023-05-09 2024-05-31 14857799 d:CurrentFinancialInstruments 2024-05-31 14857799 d:Non-currentFinancialInstruments 2024-05-31 14857799 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 14857799 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 14857799 d:ShareCapital 2024-05-31 14857799 d:RetainedEarningsAccumulatedLosses 2024-05-31 14857799 c:FRS102 2023-05-09 2024-05-31 14857799 c:AuditExempt-NoAccountantsReport 2023-05-09 2024-05-31 14857799 c:FullAccounts 2023-05-09 2024-05-31 14857799 c:PrivateLimitedCompanyLtd 2023-05-09 2024-05-31 14857799 e:PoundSterling 2023-05-09 2024-05-31 iso4217:GBP xbrli:pure

Registered number: 14857799









LSM HOMES (TW) LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MAY 2024

 
LSM HOMES (TW) LTD
REGISTERED NUMBER: 14857799

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
Note
£

  

Current assets
  

Stocks
  
3,858,305

Debtors: amounts falling due within one year
  
2,517

Cash at bank and in hand
  
1,313

  
3,862,135

Creditors: amounts falling due within one year
  
(41,776)

Net current assets
  
 
 
3,820,359

Total assets less current liabilities
  
3,820,359

Creditors: amounts falling due after more than one year
  
(3,824,982)

  

Net (liabilities)/assets
  
(4,623)


Capital and reserves
  

Called up share capital 
  
99

Profit and loss account
  
(4,722)

  
(4,623)


The director considers 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 period in question in accordance with section 476 of the Companies Act 2006.

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 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.


 
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LSM HOMES (TW) LTD
REGISTERED NUMBER: 14857799
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024

The Company has opted not to file the statement of income and retained earnings 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 on 24 January 2025.




Lee Murphy
Director

The notes on pages 3 to 5 form part of these financial statements.

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LSM HOMES (TW) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

1.


General information

LSM Homes (TW) Ltd is a private company limited by shares and incorporated in England and Wales. Its registered office is 30 Orange Street, London, WC2H 7HF.

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

Borrowing costs

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

 
2.3

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.


 
2.4

Stocks

Stock represents the purchase cost of Land at 1 & 2 Montacute Gardens, Linden Park Road, Tunbridge Wells, Kent, TN4 8H together with all development costs to date.

 
2.5

Debtors

Short-term debtors are measured at transaction price.

 
2.6

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.

 
2.7

Creditors

Short-term creditors are measured at the transaction price.

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LSM HOMES (TW) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an 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.



3.


Employees

The average monthly number of employees, including directors, during the period was 1.


4.


Debtors

2024
£


Westerham Homes Ltd
725

VAT Repayable
1,792

2,517



5.


Cash and cash equivalents

2024
£

Cash at bank
1,313

1,313


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LSM HOMES (TW) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MAY 2024

6.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
8,292

Whitgift Estates Limited
9,684

Lusson Ltd
19,495

Reigate Land Ltd
2,555

Accruals
1,750

41,776



7.


Creditors: Amounts falling due after more than one year

2024
£

Downing LLP Loan
3,009,622

Kudos Property Holdings Ltd
815,360

3,824,982


The Downing LLP loan attracts interest at a rate of 11.75%. Interest is accrued over the period of the loan. The loan is repayable as the units are sold. The loan is secured by a first charge over the land known as 1 & 2 Montacute Gardens, Linden Park Road, Tunbridge Wells, Kent, TN4 8H.
Kudos Property Holdings Limited (KPHL) provided a loan to the company of £728,000 in August 2023. KPHL will enjoy interest at a rate of 12% on this loan which will be repaid after all other loans are repaid but prior to the distribution of any profits to shareholders. 

 
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