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Registration number: 09982009

Lordswell Investments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

 

Lordswell Investments Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Statement of Changes in Equity

4

Notes to the Unaudited Financial Statements

5 to 9

 

Lordswell Investments Ltd

Company Information

Directors

M Stannard

T Sharp

Registered office

Unit A
Old Bell House Uckfield Road
Pound Gate
Crowborough
East Sussex
TN6 3TA

 

Lordswell Investments Ltd

(Registration number: 09982009)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,321

3,178

Investment property

5

1,845,000

1,845,000

 

1,847,321

1,848,178

Current assets

 

Stocks

6

988,306

1,023,556

Debtors

7

2,032,240

1,502,995

Cash at bank and in hand

 

27,507

765,037

 

3,048,053

3,291,588

Creditors: Amounts falling due within one year

8

(736,557)

(808,251)

Net current assets

 

2,311,496

2,483,337

Total assets less current liabilities

 

4,158,817

4,331,515

Provisions for liabilities

(65,641)

(65,641)

Net assets

 

4,093,176

4,265,874

Capital and reserves

 

Called up share capital

102

100

Profit and loss account - non distributable reserve

328,893

328,893

Retained earnings

3,764,181

3,936,881

Shareholders' funds

 

4,093,176

4,265,874

 

Lordswell Investments Ltd

(Registration number: 09982009)
Balance Sheet as at 31 October 2024

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 February 2025 and signed on its behalf by:
 

.........................................
M Stannard
Director

.........................................
T Sharp
Director

 
     
 

Lordswell Investments Ltd

Statement of Changes in Equity for the Year Ended 31 October 2024

Share capital
£

Profit and loss account - non distributable
£

Profit and loss account
£

Total
£

At 1 November 2023

100

328,893

3,936,881

4,265,874

Loss for the year

-

-

(43,700)

(43,700)

Total comprehensive income

-

-

(43,700)

(43,700)

Dividends

-

-

(129,000)

(129,000)

New share capital subscribed

2

-

-

2

At 31 October 2024

102

328,893

3,764,181

4,093,176

Share capital
£

Profit and loss account - non distributable reserve
£

Retained earnings
£

Total
£

At 1 November 2022

100

107,890

2,697,441

2,805,431

Profit for the year

-

-

1,501,443

1,501,443

Other comprehensive income

-

221,003

(221,003)

-

Total comprehensive income

-

221,003

1,280,440

1,501,443

Dividends

-

-

(41,000)

(41,000)

At 31 October 2023

100

328,893

3,936,881

4,265,874

 

Lordswell Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit A
Old Bell House Uckfield Road
Pound Gate
Crowborough
East Sussex
TN6 3TA

These financial statements were authorised for issue by the Board on 11 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Lordswell Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

If there is an indication that there has been a significant change in depreciation rate, useful life or residential value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Asset class

Depreciation method and rate

Plany and machinery

25% reducing balance

Computer equipment

3 year on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The value is based on observable market prices, adjusted if necessary for any difference in nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Lordswell Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Lordswell Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2023

370

3,908

4,278

At 31 October 2024

370

3,908

4,278

Depreciation

At 1 November 2023

123

977

1,100

Charge for the year

124

733

857

At 31 October 2024

247

1,710

1,957

Carrying amount

At 31 October 2024

123

2,198

2,321

At 31 October 2023

247

2,931

3,178

5

Investment properties

2024
£

At 1 November

1,672,521

Fair value adjustments

172,479

At 31 October 2024

1,845,000

The directors consider there has been no material movement in the property valuations in the year.

 

Lordswell Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2024

6

Stocks

2024
£

2023
£

Work in progress

-

35,250

Other inventories

988,306

988,306

988,306

1,023,556

7

Debtors

Current

2024
£

2023
£

Trade debtors

9,010

1,284,115

Other debtors

2,023,230

218,880

 

2,032,240

1,502,995

Included in debtors due within one year is an interest free loan to the value of £2,022,729 ( 2023 : £212,199 ) due from a company under common control.

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

683,247

598,123

Trade creditors

 

2,292

42,860

Taxation and social security

 

2,868

128,668

Accruals and deferred income

 

20,430

10,413

Other creditors

 

27,720

28,187

 

736,557

808,251

Included in other creditors due within one year is an interest free loan to the value of £815 (2023 : £1,281) owed to the directors of the company which is repayable on demand.