REGISTERED NUMBER: |
Lowndes Halsden & Partners Limited |
Financial Statements for the Year Ended 31 May 2024 |
REGISTERED NUMBER: |
Lowndes Halsden & Partners Limited |
Financial Statements for the Year Ended 31 May 2024 |
Lowndes Halsden & Partners Limited (Registered number: 02696740) |
Contents of the Financial Statements |
for the Year Ended 31 May 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Lowndes Halsden & Partners Limited |
Company Information |
for the Year Ended 31 May 2024 |
Directors: |
Registered office: |
Registered number: |
Auditors: |
7 Neptune Court |
Vanguard Way |
Cardiff |
CF24 5PJ |
Lowndes Halsden & Partners Limited (Registered number: 02696740) |
Balance Sheet |
31 May 2024 |
2024 | 2023 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
Net current assets |
Total assets less current liabilities |
Provisions for liabilities | 7 | ( |
) | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 8 |
Retained earnings |
Shareholders' funds |
The financial statements were approved by the Board of Directors and authorised for issue on |
Lowndes Halsden & Partners Limited (Registered number: 02696740) |
Notes to the Financial Statements |
for the Year Ended 31 May 2024 |
1. | Statutory information |
Lowndes Halsden & Partners Limited is a |
2. | Accounting policies |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business. |
Fees and commissions receivable are recognised on an accruals basis. Renewals and subsequent fees and commissions are recognised on a receipts basis. |
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Lowndes Halsden & Partners Limited (Registered number: 02696740) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
2. | Accounting policies - continued |
Provisions |
Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation. |
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in the profit or loss in the period in which it arises. |
Clawback provision |
Commissions include amounts earned in respect of indemnity policies which are subject to clawback provisions as instigated by the indemnity providers on the occurrence of events such as the cancellation lapse or surrender of a policy. The company clawback provision is based on a calculated percentage of previous years actual clawback data. |
Fixed asset investments |
Listed investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Transaction costs are expensed to the profit or loss as incurred. Changes in fair value are recognised in other comprehensive income except to the extent that a gain reverses a loss previously in the profit or loss, or a loss exceeds the accumulated gains recognised in equity; such as gains and loss are recognised in the profit or loss. |
3. | Employees and directors |
The average number of employees during the year was |
4. | Tangible fixed assets |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
Cost |
At 1 June 2023 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) |
At 31 May 2024 |
Depreciation |
At 1 June 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) |
At 31 May 2024 |
Net book value |
At 31 May 2024 |
At 31 May 2023 |
5. | Debtors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Accrued income |
Lowndes Halsden & Partners Limited (Registered number: 02696740) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
6. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
Other creditors |
Accruals |
7. | Provisions for liabilities |
2024 | 2023 |
£ | £ |
Deferred tax | 3,292 | 1,994 |
Other provisions | 1,327 | 1,704 |
Deferred | Other |
tax | provisions |
£ | £ |
Balance at 1 June 2023 |
Utilised during year | ( |
) |
Balance at 31 May 2024 |
8. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary Share Capital | 1 | 22,509 | 22,509 |
9. | Disclosure under Section 444(5B) of the Companies Act 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
10. | Ultimate controlling party |
The company is controlled by Lowndes Halsden & Partners Holdings Limited who hold 100% of the issued share capital. |
The registered office of the ultimate controlling party is Holt House, 184/190 Caerphilly Road, Cardiff, United Kingdom, CF14 4NR. |