Caseware UK (AP4) 2023.0.135 2023.0.135 No description of principal activity2023-05-01false22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06414702 2023-05-01 2024-04-30 06414702 2022-05-01 2023-04-30 06414702 2024-04-30 06414702 2023-04-30 06414702 c:Director1 2023-05-01 2024-04-30 06414702 d:Buildings 2023-05-01 2024-04-30 06414702 d:Buildings 2024-04-30 06414702 d:Buildings 2023-04-30 06414702 d:CurrentFinancialInstruments 2024-04-30 06414702 d:CurrentFinancialInstruments 2023-04-30 06414702 d:Non-currentFinancialInstruments 2024-04-30 06414702 d:Non-currentFinancialInstruments 2023-04-30 06414702 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 06414702 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 06414702 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 06414702 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 06414702 d:ShareCapital 2024-04-30 06414702 d:ShareCapital 2023-04-30 06414702 d:RevaluationReserve 2024-04-30 06414702 d:RevaluationReserve 2023-04-30 06414702 d:RetainedEarningsAccumulatedLosses 2024-04-30 06414702 d:RetainedEarningsAccumulatedLosses 2023-04-30 06414702 c:OrdinaryShareClass1 2023-05-01 2024-04-30 06414702 c:OrdinaryShareClass1 2024-04-30 06414702 c:OrdinaryShareClass1 2023-04-30 06414702 c:FRS102 2023-05-01 2024-04-30 06414702 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 06414702 c:FullAccounts 2023-05-01 2024-04-30 06414702 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06414702 d:Subsidiary1 2023-05-01 2024-04-30 06414702 d:Subsidiary1 1 2023-05-01 2024-04-30 06414702 5 2023-05-01 2024-04-30 06414702 6 2023-05-01 2024-04-30 06414702 e:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 06414702










Lenleys Canterbury Ltd








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 April 2024





 
Lenleys Canterbury Ltd
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Lenleys Canterbury Ltd for the Year Ended 30 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lenleys Canterbury Ltd for the year ended 30 April 2024 which comprise  the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Lenleys Canterbury Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Lenleys Canterbury Ltd and state those matters that we have agreed to state to the Board of directors of Lenleys Canterbury Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lenleys Canterbury Ltd and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Lenleys Canterbury Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lenleys Canterbury Ltd. You consider that Lenleys Canterbury Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Lenleys Canterbury Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
Canterbury
25 January 2025
Page 1

 
Lenleys Canterbury Ltd
Registered number: 06414702

Balance sheet
As at 30 April 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,950,000
3,950,000

Investments
 5 
4,343,557
4,343,557

  
8,293,557
8,293,557

Current assets
  

Debtors: amounts falling due within one year
 6 
8,274
-

Cash at bank and in hand
  
11,750
93,429

  
20,024
93,429

Creditors: amounts falling due within one year
 7 
(2,266,382)
(2,460,396)

Net current liabilities
  
 
 
(2,246,358)
 
 
(2,366,967)

Total assets less current liabilities
  
6,047,199
5,926,590

Creditors: amounts falling due after more than one year
 8 
(4,524,912)
(4,524,912)

  

Net assets
  
1,522,287
1,401,678


Capital and reserves
  

Called up share capital 
 9 
100
100

Revaluation reserve
  
765,000
765,000

Profit and loss account
  
757,187
636,578

  
1,522,287
1,401,678


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: 



J L Watts
Director
Date: 25 January 2025

Page 2

 
Lenleys Canterbury Ltd
 

 
Notes to the financial statements
For the Year Ended 30 April 2024

1.


General information

Lenleys Canterbury Ltd is a private company limited by shares which was incorporated in England and Wales.
The company’s registered office is 25-34 Roper Road, Canterbury, Kent, CT2 7EL. 
The financial statements are presented in pound sterling and rounded to the nearest pound.

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

As highlighted in 2.3 below, the company's turnover represents its share of trading profits from
Messrs Lenleys.
The company meets its day to day working capital requirements through a directors' loan account.
The directors have no intention of withdrawing this facility in the foreseeable future, and as such the
directors have a reasonable expectation that the company has adequate resources to continue in
operational existence for the foreseeable future. Accordingly they continue to adopt the going
concern basis in preparing the financial statements.

 
2.3

Revenue

Turnover represents the company's share of trading profits from Messrs Lenleys. 

 
2.4

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

 
Lenleys Canterbury Ltd
 

 
Notes to the financial statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Freehold property
-
Nil

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.

 
2.5

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.7

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.

 
2.8

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.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement
Page 4

 
Lenleys Canterbury Ltd
 

 
Notes to the financial statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.10

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.

Page 5

 
Lenleys Canterbury Ltd
 

 
Notes to the financial statements
For the Year Ended 30 April 2024

2.Accounting policies (continued)

 
2.11

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 balance sheet 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 2 (2023 - 2).


4.


Tangible fixed assets





Freehold property

£



Cost or valuation


At 1 May 2023
3,950,000



At 30 April 2024

3,950,000






Net book value



At 30 April 2024
3,950,000



At 30 April 2023
3,950,000

A professional valuation of the property was carried out by Strutt & Parker LLP in June 2011.  The market value at this time was £3,950,000.  The directors are not aware of any material change in value.  Therefore, the valuation has not been updated.

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
3,950,000
3,950,000

Net book value
3,950,000
3,950,000

Page 6

 
Lenleys Canterbury Ltd
 

 
Notes to the financial statements
For the Year Ended 30 April 2024

5.


Fixed asset investments





Investments in subsidiary companies
Other fixed asset investments
Total

£
£
£



Cost or valuation


At 1 May 2023
4,283,557
60,000
4,343,557



At 30 April 2024
4,283,557
60,000
4,343,557





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Principal activity

Class of shares

Holding

G & R Clarke Limited
25-34 Roper Road, Canterbury
Dormant
Ordinary
100%

The aggregate of the share capital and reserves as at 30 April 2024 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:

Name
Aggregate of share capital and reserves
Profit/(Loss)

G & R Clarke Limited
4,524,912
-


6.


Debtors

2024
2023
£
£


Amounts owed by other participating interests
8,274
-



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Amounts owed to other participating interests
-
194,028

Corporation tax
39,804
40,005

Other creditors
2,225,288
2,225,288

Accruals and deferred income
1,290
1,075

2,266,382
2,460,396


Page 7

 
Lenleys Canterbury Ltd
 

 
Notes to the financial statements
For the Year Ended 30 April 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
4,524,912
4,524,912



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



10.


Contingent liabilities

The company has provided a guarantee, secured by a debenture and a charge over the beneficial interest held in the freehold property in favour of Shawbrook Bank Limited to support the borrowings of the directors, J L Watts and J Greenfield, to facilitate the acquisition of G & R Clarke Limited.


11.


Transactions with directors

The company is a partner in the retail furniture business Lenleys.
The company's share of the profit from Lenleys in the year to 30 April 2024 was £160,753 (2023: £203,621).
The company has a loan from directors of the company. The amount outstanding at the end of the year was £2,225,288 (2023: £2,225,288). No interest is payable on this loan and the maximum outstanding during the year was £2,225,288 (2023: £2,385,028).


Page 8