REGISTERED NUMBER: |
Lyndhurst Holdings Limited |
Unaudited Financial Statements for the Year Ended 30 November 2024 |
REGISTERED NUMBER: |
Lyndhurst Holdings Limited |
Unaudited Financial Statements for the Year Ended 30 November 2024 |
Lyndhurst Holdings Limited (Registered number: SC060719) |
Contents of the Financial Statements |
for the Year Ended 30 November 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Lyndhurst Holdings Limited |
Company Information |
for the Year Ended 30 November 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
28 Rutland Square |
Edinburgh |
EH1 2BW |
BANKERS: |
40 Torphichen Street |
Edinburgh |
EH3 8JB |
Lyndhurst Holdings Limited (Registered number: SC060719) |
Balance Sheet |
30 November 2024 |
30.11.24 | 30.11.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium | 9 |
Revaluation reserve | 9 |
Retained earnings | 9 |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Lyndhurst Holdings Limited (Registered number: SC060719) |
Notes to the Financial Statements |
for the Year Ended 30 November 2024 |
1. | STATUTORY INFORMATION |
Lyndhurst Holdings Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Judgements and key sources of estimation uncertainty |
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Revenue recognition |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed 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: |
Fixtures and fittings - 20% 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. |
Investment property |
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. |
Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. |
Lyndhurst Holdings Limited (Registered number: SC060719) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. |
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. |
Taxation |
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 |
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. |
Provisions |
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. |
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 December 2023 |
and 30 November 2024 |
DEPRECIATION |
At 1 December 2023 |
Charge for year |
At 30 November 2024 |
NET BOOK VALUE |
At 30 November 2024 |
At 30 November 2023 |
Lyndhurst Holdings Limited (Registered number: SC060719) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2024 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2023 |
and 30 November 2024 |
NET BOOK VALUE |
At 30 November 2024 |
At 30 November 2023 |
Fair value at 30 November 2024 is represented by: |
£ |
Valuation in 1999 | 363,637 |
Valuation in 2003 | 53,600 |
Valuation in 2007 | 342,550 |
Valuation in 2013 | (106,850 | ) |
Valuation in 2018 | 202,600 |
Valuation in 2023 | 215,000 |
Cost | 274,463 |
1,345,000 |
If investment properties had not been revalued they would have been included at the following historical cost: |
30.11.24 | 30.11.23 |
£ | £ |
Cost | 274,463 | 274,463 |
Investment properties were valued on an open market basis on 30 November 2023 by the directors . |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.24 | 30.11.23 |
£ | £ |
Prepayments |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.24 | 30.11.23 |
£ | £ |
Corporation tax |
Directors' current accounts | 3 | - |
Accrued expenses |
8. | PROVISIONS FOR LIABILITIES |
30.11.24 | 30.11.23 |
£ | £ |
Deferred tax | 101,654 | 101,654 |
Deferred |
tax |
£ |
Balance at 1 December 2023 |
Balance at 30 November 2024 |
Lyndhurst Holdings Limited (Registered number: SC060719) |
Notes to the Financial Statements - continued |
for the Year Ended 30 November 2024 |
9. | RESERVES |
Retained | Share | Revaluation |
earnings | premium | reserve | Totals |
£ | £ | £ | £ |
At 1 December 2023 | 1,748,449 |
Profit for the year |
Dividends | ( |
) | ( |
) |
At 30 November 2024 | 1,739,688 |
10. | RELATED PARTY DISCLOSURES |
During the year, total dividends of £75,000 (2023 - £70,000) were paid to the directors . |
The company was under the control of the Addis family throughout the current and previous year. |
At 30 November 2024, the company was due £3 (30 November 2023 - £nil) to Mr R Addis. |
This loan is interest free with no fixed terms for repayment. |