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Registration number: 13480149

Lock Lund Investments Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Lock Lund Investments Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Lock Lund Investments Ltd

Company Information

Directors

Mr R Knight

Mr J M Scaife

Registered office

2 Western Street
Barnsley
South Yorkshire
S70 2BP

Accountants

Cameron Alexander Accountants Limited
Chartered Certified Accountants
2 Western Street
Barnsley
S70 2BP

 

Lock Lund Investments Ltd

(Registration number: 13480149)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

3

145,766

145,766

Current assets

 

Debtors

41

35

Cash at bank and in hand

 

233

3,924

 

274

3,959

Creditors: Amounts falling due within one year

4

(39,085)

(44,789)

Net current liabilities

 

(38,811)

(40,830)

Total assets less current liabilities

 

106,955

104,936

Creditors: Amounts falling due after more than one year

4

(103,975)

(103,975)

Net assets

 

2,980

961

Capital and reserves

 

Called up share capital

5

2

2

Retained earnings

2,978

959

Shareholders' funds

 

2,980

961

For the financial year ending 30 June 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 March 2025 and signed on its behalf by:
 

.........................................
Mr R Knight
Director

 

Lock Lund Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

Accounting policies

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. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Lock Lund Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Trade creditors

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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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 company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

3

Investment properties

2024
£

At 1 July

145,766

At 30 June

145,766

There has been no valuation of investment property by an independent valuer.

 

Lock Lund Investments Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

-

300

Accruals and deferred income

1,035

931

Other creditors

38,050

43,558

39,085

44,789

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

6

103,975

103,975

5

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

6

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

103,975

103,975