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REGISTERED NUMBER: 01472918 (England and Wales)















Lonsdale Properties Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024






Lonsdale Properties Limited (Registered number: 01472918)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lonsdale Properties Limited

Company Information
for the year ended 30 June 2024







DIRECTORS: RW Waite
Mrs PE Waite
DW Waite





SECRETARY: Mrs PE Waite





REGISTERED OFFICE: The Post House
Newton in Cartmel
Grange Over Sands
Cumbria
LA11 6JQ





REGISTERED NUMBER: 01472918 (England and Wales)





ACCOUNTANTS: McMillan & Co LLP
Chartered Accountants
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Lonsdale Properties Limited (Registered number: 01472918)

Balance Sheet
30 June 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 4,929 5,836
Investment property 5 1,014,410 1,014,410
1,019,339 1,020,246

CURRENT ASSETS
Debtors 6 1,437 -
Cash at bank 431,791 374,776
433,228 374,776
CREDITORS
Amounts falling due within one year 7 437,576 370,269
NET CURRENT (LIABILITIES)/ASSETS (4,348 ) 4,507
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,014,991

1,024,753

CREDITORS
Amounts falling due after more than one
year

8

(470,000

)

(470,000

)

PROVISIONS FOR LIABILITIES 9 (1,232 ) (1,459 )
NET ASSETS 543,759 553,294

CAPITAL AND RESERVES
Called up share capital 10 100 100
Revaluation reserve 11 228,033 228,033
Retained earnings 315,626 325,161
SHAREHOLDERS' FUNDS 543,759 553,294

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Lonsdale Properties Limited (Registered number: 01472918)

Balance Sheet - continued
30 June 2024


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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2025 and were signed on its behalf by:





RW Waite - Director


Lonsdale Properties Limited (Registered number: 01472918)

Notes to the Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Lonsdale Properties 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 (£).


The amounts in the financial statements have been rounded to the nearest £1.

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.

Turnover
Turnover represents rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 20% on cost
Fixtures and fittings - 15% on reducing balance

Investment property
In accordance with Statement of Standard Accounting Practice No 19, the company's properties are held for long term investment and are included in the balance sheet at their open market values. The surpluses or deficits on annual revaluation of such properties are transferred to the investment property revaluation reserve. Depreciation is not provided in respect of freehold investment properties. Leasehold investment properties are not amortised where the unexpired term is over twenty years. This policy represents a departure from statutory accounting principles, which require depreciation to be provided on all fixed assets. The directors' consider that this policy is necessary in order that the financial statements may give a true and fair view because current values and changes in current values are of prime importance rather than the calculation of systematic annual depreciation.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, bank loans and group borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Lonsdale Properties Limited (Registered number: 01472918)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
Equipment fittings Totals
£ £ £
COST
At 1 July 2023
and 30 June 2024 2,950 26,445 29,395
DEPRECIATION
At 1 July 2023 2,322 21,237 23,559
Charge for year 126 781 907
At 30 June 2024 2,448 22,018 24,466
NET BOOK VALUE
At 30 June 2024 502 4,427 4,929
At 30 June 2023 628 5,208 5,836

5. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 July 2023
and 30 June 2024 1,014,410
NET BOOK VALUE
At 30 June 2024 1,014,410
At 30 June 2023 1,014,410

One investment property was valued at market value of £425,000 by Carigiet Cowen, Chartered Surveyors, as at 17 April 2008. The directors consider this to be the market value at 30 June 2024. The remaining properties have been valued by the directors at £589,410 which the directors consider to be their market value at 30 June 2024. On a historical cost basis, the land and buildings would have been included at £786,377 (2023: £786,377).

Lonsdale Properties Limited (Registered number: 01472918)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 1,437 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Taxation and social security 16,851 13,064
Other creditors 420,725 357,205
437,576 370,269

Included within other creditors are amounts due to directors of £232,040 (2023: £215,508). These amounts are unsecured, interest free and has no fixed repayment date.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Other creditors 470,000 470,000

Included within other creditors are amounts due to directors of £220,000 (2023: £220,000). These amounts are unsecured, interest free and has no fixed repayment date.

9. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax
Accelerated capital allowances 1,232 1,459

Deferred tax
£
Balance at 1 July 2023 1,459
Credit to Statement of Income and Retained Earnings during year (227 )
Balance at 30 June 2024 1,232

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
27 Ordinary A £1 27 27
25 Ordinary B £1 25 25
24 Ordinary C £1 24 24
24 Ordinary D £1 24 24
100 100

Lonsdale Properties Limited (Registered number: 01472918)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

11. RESERVES
Revaluation
reserve
£
At 1 July 2023
and 30 June 2024 228,033

12. RELATED PARTY DISCLOSURES

In the opinion of the directors the company is controlled by Mr & Mrs RW Waite.