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REGISTERED NUMBER: 02696740 (England and Wales)















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: S Boyle
S T Drew
S J Edwards
I D Ross





Registered office: Holt House
184-190 Caerphilly Road
Cardiff
South Glamorgan
CF14 4NR





Registered number: 02696740 (England and Wales)





Auditors: Haines Watts Wales LLP, Statutory 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 13,494 8,376

Current assets
Debtors 5 13,865,303 13,862,715
Cash at bank 3,568,354 4,304,774
17,433,657 18,167,489
Creditors
Amounts falling due within one year 6 (13,764,877 ) (15,016,460 )
Net current assets 3,668,780 3,151,029
Total assets less current liabilities 3,682,274 3,159,405

Provisions for liabilities 7 (4,619 ) (3,698 )
Net assets 3,677,655 3,155,707

Capital and reserves
Called up share capital 8 22,509 22,509
Retained earnings 3,655,146 3,133,198
Shareholders' funds 3,677,655 3,155,707

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 February 2025 and were signed on its behalf by:





S T Drew - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 50% on cost

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 18 (2023 - 18 ) .

4. Tangible fixed assets
Fixtures
and Computer
fittings equipment Totals
£    £    £   
Cost
At 1 June 2023 154,850 29,073 183,923
Additions 9,725 3,568 13,293
Disposals (18,151 ) (4,404 ) (22,555 )
At 31 May 2024 146,424 28,237 174,661
Depreciation
At 1 June 2023 149,140 26,407 175,547
Charge for year 4,770 3,405 8,175
Eliminated on disposal (18,151 ) (4,404 ) (22,555 )
At 31 May 2024 135,759 25,408 161,167
Net book value
At 31 May 2024 10,665 2,829 13,494
At 31 May 2023 5,710 2,666 8,376

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 3,594 9,819
Amounts owed by group undertakings 13,861,129 13,848,729
Accrued income 580 4,167
13,865,303 13,862,715

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 35,030 98,866
Amounts owed to group undertakings 13,210,713 13,311,619
Tax 484,283 800,266
Social security and other taxes 2,038 2,372
Other creditors 23,309 793,833
Accruals 9,504 9,504
13,764,877 15,016,460

7. Provisions for liabilities
2024 2023
£    £   
Deferred tax 3,292 1,994
Other provisions 1,327 1,704
4,619 3,698

Deferred Other
tax provisions
£    £   
Balance at 1 June 2023 1,994 1,704
Utilised during year 1,298 (377 )
Balance at 31 May 2024 3,292 1,327

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
22,509 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.

Victoria Carter (Senior Statutory Auditor)
for and on behalf of Haines Watts Wales LLP, Statutory Auditors

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.