Registration number:
Lanacross Properties Limited
for the Year Ended 31 August 2024
Lanacross Properties Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Lanacross Properties Limited
Company Information
Directors |
Mr Stephen John Parrott Mr John Colin Parrott |
Company secretary |
Mrs Joyce Margaret Parrott |
Registered office |
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Accountants |
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Lanacross Properties Limited
(Registration number: 05514186)
Balance Sheet as at 31 August 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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- |
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Investment property |
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Current assets |
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Debtors |
- |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
- |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Lanacross Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
The principal place of business is:
Ellendean Hockwold Road
Weeting
Brandon
Suffolk
IP27 0QE
United Kingdom
These financial statements were authorised for issue by the
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 amounts chargeable in respect of property renovation, sales and rental income.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% Straight line |
Lanacross Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Investment property
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Lanacross Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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Additions |
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At 31 August 2024 |
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Depreciation |
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Charge for the year |
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At 31 August 2024 |
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Carrying amount |
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At 31 August 2024 |
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Investment properties |
2024 |
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At 1 September |
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Additions |
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At 31 August |
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There has been no valuation of investment property by an independent valuer.
Debtors |
Current |
2024 |
2023 |
Other debtors |
- |
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- |
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Lanacross Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Taxation and social security |
- |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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2024 |
2023 |
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Due after more than five years |
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After more than five years not by instalments |
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Creditors include mortgage loans which are secured on the investment properties of £101,303 (2022 - £101,303).
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Lanacross Properties Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Loans and borrowings |
Non-current loans and borrowings
2024 |
2023 |
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Other borrowings |
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Related party transactions |
Other transactions with directors |
The directors have provided interest free loans to the company in the sum of £8,470 (2023: £8,470). These loans are repayable om demand.