Company registration number 00436868 (England and Wales)
LASHLAKE PROPERTY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
LASHLAKE PROPERTY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LASHLAKE PROPERTY LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,263
1,737
Investment properties
5
6,548,702
6,072,387
6,549,965
6,074,124
Current assets
Debtors
6
44,895
502,807
Cash at bank and in hand
683,208
791,425
728,103
1,294,232
Creditors: amounts falling due within one year
7
(479,636)
(794,445)
Net current assets
248,467
499,787
Total assets less current liabilities
6,798,432
6,573,911
Capital and reserves
Called up share capital
72,000
72,000
Other reserves
9,760
9,760
Profit and loss reserves
6,716,672
6,492,151
Total equity
6,798,432
6,573,911
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 7 February 2025
C W D Behrens
Director
Company Registration No. 00436868
LASHLAKE PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information
Lashlake Property Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ravenscliffe Mills, Calverly, Pudsey, Yorkshire, LS28 5RY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.
1.2
Turnover
Turnover represents net sales of services, excluding value added tax.
1.3
Tangible fixed assets
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant, machinery & property improvements
20% Straight line basis
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.
Investment property has been valued by the director.
Investment properties shall not be subject to periodic charges for depreciation except for properties held on lease, which shall be depreciated at least over the period when the unexpired term is 20 years or less.
Investment properties shall be included in the balance sheet at their market value and the carrying value shall be displayed prominently either on the face of the balance sheet or in the notes.
1.5
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Taxation
The tax expense represents the sum of the tax currently payable.
LASHLAKE PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.8
Pensions costs and other post-retirement benefits
The company operates a defined contribution pension scheme covering the directors and employees. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme. The assets of the scheme are held separately from those of the company in an independent administered fund.
1.9
Intercompany loans are repayable on demand. No interest is charged on amounts outstanding.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
7
8
LASHLAKE PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 4 -
4
Tangible fixed assets
Plant, machinery & property improvements
£
Cost
At 1 July 2023 and 30 June 2024
2,369
Depreciation and impairment
At 1 July 2023
632
Depreciation charged in the year
474
At 30 June 2024
1,106
Carrying amount
At 30 June 2024
1,263
At 30 June 2023
1,737
5
Investment property
2024
£
Fair value
At 1 July 2023
6,072,387
Transfers
476,315
At 30 June 2024
6,548,702
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
30,777
34,336
Amounts owed by group undertakings
452,323
Other debtors
14,118
16,148
44,895
502,807
LASHLAKE PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
234,113
601,427
Taxation and social security
71,844
25,526
Other creditors
173,679
167,492
479,636
794,445
8
Parent company
The parent company of Lashlake Property Limited is Ravenscliffe Property Limited and its registered office is:
Ravenscliffe Mills
Calverley
Pudsey
Yorks
LS28 5RY