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Registration number: 10937697

Lantern House Property Management Limited

Annual Report and Unaudited Financial Statements Year Ended 31 December 2024

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Chartered Accountants

 

Lantern House Property Management Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 8

 

Lantern House Property Management Limited

Company Information

Directors

J Newman

G D Briggs

W J Cole

Registered office

Lantern House
8 Crown Square
Poundbury
Dorchester
Dorset
DT1 3DY

Accountants

Edwards & Keeping Limited
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Lantern House Property Management Limited

Directors' Report
for the Year Ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors of the company

The directors who held office during the year were as follows:

J Newman

G D Briggs

W J Cole

Principal activity

The principal activity of the company is property management services.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 25 February 2025 and signed on its behalf by:

J Newman
Director

   
     
 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Lantern House Property Management Limitedfor the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lantern House Property Management Limited for the year ended 31 December 2024 as set out on pages 4 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Director of Lantern House Property Management Limited, as a body, in accordance with the terms of our engagement letter dated 29 April 2019. Our work has been undertaken solely to prepare for your approval the accounts of Lantern House Property Management Limited and state those matters that we have agreed to state to the Director of Lantern House Property Management Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lantern House Property Management Limited and its Director as a body for our work or for this report.

It is your duty to ensure that Lantern House Property Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Lantern House Property Management Limited. You consider that Lantern House Property Management Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Lantern House Property Management Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Edwards & Keeping Limited
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

26 February 2025

 

Lantern House Property Management Limited

Profit and Loss Account
for the Year Ended 31 December 2024

Note

2024
£

2023
£

Turnover

 

12,965

13,801

Gross profit

 

12,965

13,801

Administrative expenses

 

(8,446)

(7,612)

Operating profit

 

4,519

6,189

Other interest receivable and similar income

 

382

51

Profit before tax

4,901

6,240

Taxation

 

-

-

Profit for the financial year

 

4,901

6,240

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Lantern House Property Management Limited

(Registration number: 10937697)
Balance Sheet as at 31 December 2024

Note

2024

2023

   

£

£

£

£

Current assets

   

 

Debtors

4

 

284

 

246

Cash at bank and in hand

   

24,070

 

20,181

   

24,354

 

20,427

Creditors: Amounts falling due within one year

5

 

(946)

 

(1,920)

Net assets

   

23,408

 

18,507

Capital and reserves

   

 

Called up share capital

4

 

4

 

Sinking fund

9,000

 

4,000

 

Profit and loss account

14,404

 

14,503

 

Total equity

   

23,408

 

18,507

For the financial year ending 31 December 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 25 February 2025 and signed on its behalf by:
 


J Newman
Director

   
     
 

Lantern House Property Management Limited

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

Share capital
£

Sinking fund
£

Profit and loss account
£

Total
£

At 1 January 2024

4

4,000

14,503

18,507

Profit for the year

-

-

4,901

4,901

Transfers

-

5,000

(5,000)

-

At 31 December 2024

4

9,000

14,404

23,408

Share capital
£

Sinking fund
£

Profit and loss account
£

Total
£

At 1 January 2023

4

-

12,263

12,267

Profit for the year

-

-

6,240

6,240

Transfers

-

4,000

(4,000)

-

At 31 December 2023

4

4,000

14,503

18,507

 

Lantern House Property Management Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 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:
Lantern House
8 Crown Square
Poundbury
Dorchester
Dorset
DT1 3DY

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.

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.
 

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.

Trade debtors

Trade debtors are amounts due from residents for services performed in the ordinary course of business.
 

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business.
 

 

Lantern House Property Management Limited

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

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.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2023 - 0). The average number of directors on the board during the year was 3 (2023 - 3).

4

Debtors

2024
£

2023
£

Prepayments

284

246

284

246

5

Creditors

2024
£

2023
£

Due within one year

Amounts received in advance from lessees

-

741

Accruals

560

605

Other creditors

386

574

946

1,920