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REGISTERED NUMBER: 00894965 (England and Wales)















THE LAPWING ESTATE LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






THE LAPWING ESTATE LIMITED (REGISTERED NUMBER: 00894965)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


THE LAPWING ESTATE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: N D S Brown
J F S Brown


SECRETARY: J F S Brown


REGISTERED OFFICE: Everton Carr Farm
Claybank Lane
Everton
Doncaster
South Yorkshire
DN10 5BZ


REGISTERED NUMBER: 00894965 (England and Wales)


SENIOR STATUTORY AUDITOR: Michael Argyle BSc ACA


AUDITORS: Duncan & Toplis Audit Limited, Statutory Auditor
3 Castlegate
Grantham
Lincolnshire
NG31 6SF


BANKERS: HSBC Bank Plc
26 Market Place
Sleaford
Lincolnshire
NG34 7SB


SOLICITORS: Mossop & Bowser
10 Spalding Road
Holbeach
Lincolnshire
PE12 7LP

THE LAPWING ESTATE LIMITED (REGISTERED NUMBER: 00894965)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 8,283,496 7,866,204
Investments 5 1,250,004 1,250,004
Investment property 6 260,000 20,000
9,793,500 9,136,208

CURRENT ASSETS
Debtors 7 633,183 650,855
Cash at bank 1,342,716 2,397,837
1,975,899 3,048,692
CREDITORS
Amounts falling due within one year 8 159,901 515,280
NET CURRENT ASSETS 1,815,998 2,533,412
TOTAL ASSETS LESS CURRENT LIABILITIES 11,609,498 11,669,620

PROVISIONS FOR LIABILITIES 60,071 67,841
NET ASSETS 11,549,427 11,601,779

CAPITAL AND RESERVES
Called up share capital 9 41,216 41,216
Share premium 6,994 6,994
Capital redemption reserve 156,784 156,784
Retained earnings 11,344,433 11,396,785
SHAREHOLDERS' FUNDS 11,549,427 11,601,779

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 Income Statement 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:





J F S Brown - Director


THE LAPWING ESTATE LIMITED (REGISTERED NUMBER: 00894965)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1. STATUTORY INFORMATION

The Lapwing Estate 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

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

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.

Revenue
Revenue represents amounts derived from the provision of services to the Environment Agency and is recognised on delivery of the project report.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost, 20% on cost and 10% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Plant and machinery used for generating renewable energy is depreciated in line with the recommended Feed in Tariff scheme length of 20 years.

No depreciation is provided on land and buildings. It is the company's policy to maintain its properties in a continual state of repair. In the case of freehold buildings the directors consider that the lives of these properties and their residual values are such that their depreciation is not significant. Property improvements included within this heading are depreciated at 20% on cost.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is any indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment is recognised immediately in the income statement.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less provision for any impairment in value.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement.

THE LAPWING ESTATE LIMITED (REGISTERED NUMBER: 00894965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 the income statement in the period to which they relate.

Basis of consolidation
The company has not prepared group accounts as it qualifies as a small sized group and as such has taken advantage of exemption from preparing group accounts under section 398 Companies Act 2006. These accounts therefore only relate to the parent undertaking.

Other income
Rental income is recognised in the period to which it relates.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

THE LAPWING ESTATE LIMITED (REGISTERED NUMBER: 00894965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

4. PROPERTY, PLANT AND EQUIPMENT
Land and Plant and
buildings machinery Totals
£    £    £   
COST
At 1 June 2023 7,339,239 622,687 7,961,926
Additions 452,754 67,536 520,290
Disposals - (30,000 ) (30,000 )
At 31 May 2024 7,791,993 660,223 8,452,216
DEPRECIATION
At 1 June 2023 1,449 94,273 95,722
Charge for year 16,794 58,704 75,498
Eliminated on disposal - (2,500 ) (2,500 )
At 31 May 2024 18,243 150,477 168,720
NET BOOK VALUE
At 31 May 2024 7,773,750 509,746 8,283,496
At 31 May 2023 7,337,790 528,414 7,866,204

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2023
and 31 May 2024 1,250,004
NET BOOK VALUE
At 31 May 2024 1,250,004
At 31 May 2023 1,250,004

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 20,000
Disposals (2,000 )
Revaluations 242,000
At 31 May 2024 260,000
NET BOOK VALUE
At 31 May 2024 260,000
At 31 May 2023 20,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2024 242,000
Cost 18,000
260,000

THE LAPWING ESTATE LIMITED (REGISTERED NUMBER: 00894965)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2024

6. INVESTMENT PROPERTY - continued

Investment property is held at fair value as valued by the directors based on the net disposal proceeds for the sale after the balance sheet date.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 93,946 161,879
Amounts owed by group undertakings 465,006 406,613
Other debtors 25,449 27,758
Prepayments and accrued income 48,782 54,605
633,183 650,855

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 47,334 152,450
Amounts owed to group undertakings 92,567 281,563
Accruals and deferred income 20,000 81,267
159,901 515,280

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
41,216 'B' ordinary £1 41,216 41,216

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Argyle BSc ACA (Senior Statutory Auditor)
for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

11. POST BALANCE SHEET EVENTS

On 10 June 2024, a group reorganisation took place whereby a new holding company was introduced above this company and on 1 July 2024, land with a net book value of £616,534 was transferred to the company's fellow subsidiary.

On 13 August 2024, the company exchanged contracts for the sale of its investment property to a third party for gross sale proceeds of £380,000.