Company Registration No. 12289176 (England and Wales)
Lance Investments Limited
Unaudited accounts
for the year ended 31 May 2024
Lance Investments Limited
Unaudited accounts
Contents
Lance Investments Limited
Company Information
for the year ended 31 May 2024
Director
Mark Jonathan Lance
Company Number
12289176 (England and Wales)
Lance Investments Limited
Statement of financial position
as at 31 May 2024
Investments
6,444,628
4,882,095
Cash at bank and in hand
71
428
Creditors: amounts falling due within one year
(5,006,476)
(5,006,805)
Net current liabilities
(4,949,139)
(4,882,519)
Total assets less current liabilities
1,495,489
(424)
Provisions for liabilities
Net assets/(liabilities)
1,234,062
(424)
Called up share capital
100
100
Revaluation reserve
784,282
(173,828)
Profit and loss account
449,680
173,304
Shareholders' funds
1,234,062
(424)
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 12 February 2025 and were signed on its behalf by
Mark Jonathan Lance
Director
Company Registration No. 12289176
Lance Investments Limited
Notes to the Accounts
for the year ended 31 May 2024
Lance Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 12289176.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
4
Investments
Other investments
Valuation at 1 June 2023
4,882,095
Fair value adjustments
1,363,609
Valuation at 31 May 2024
6,444,628
Listed investments are recognised initially at cost less attributable transaction costs. Subsequent to initial recognition, they are
revalued to fair value at the reporting date. Any changes in fair value are recognised in profit and loss.
Amounts falling due within one year
Deferred tax asset
-
57,942
6
Investments held as current assets
2024
2023
Listed investments
57,266
65,916
Lance Investments Limited
Notes to the Accounts
for the year ended 31 May 2024
7
Creditors: amounts falling due within one year
2024
2023
Amounts owed to group undertakings and other participating interests
5,006,689
5,006,689
Taxes and social security
(226)
116
8
Deferred taxation
2024
2023
Other deferred taxation
261,427
(57,942)
Provision at start of year
(57,942)
-
Charged/(credited) to other comprehensive income
319,369
(57,942)
Provision at end of year
261,427
(57,942)
9
Transactions with related parties
At the balance sheet date, Lance Investments Limited owed Lance Holdings Limited £5,006,689 (2022=3 - £5,006,689). Lance Holdings Limited is the parent of Lance Investments Limited.
All trade debtor & creditor transactions between related parties were all made at arms length.
The company was under the control of Lance Holdings Limited
11
Average number of employees
During the year the average number of employees was 0 (2023: 0).