2023-06-012024-05-312024-05-31false12455274LANE HOMES (SHERBRO) 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LANE HOMES (SHERBRO) LTD

Registered Number
12455274
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

LANE HOMES (SHERBRO) LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

DAW, Thomas Benjamin
LANE, Anthony Thomas
LANE, Daniel Anthony

Registered Address

2 Colchester Road
St. Osyth
Clacton-On-Sea
CO16 8HA

Registered Number

12455274 (England and Wales)
LANE HOMES (SHERBRO) LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3512,159640,198
512,159640,198
Current assets
Stocks42,247,9401,070,642
Debtors81,3566,289
Cash at bank and on hand5,74448,384
2,335,0401,125,315
Creditors amounts falling due within one year5(2,951,684)(1,765,511)
Net current assets (liabilities)(616,644)(640,196)
Total assets less current liabilities(104,485)2
Net assets(104,485)2
Capital and reserves
Called up share capital22
Profit and loss account(104,487)-
Shareholders' funds(104,485)2
The financial statements were approved and authorised for issue by the Board of Directors on 18 March 2025, and are signed on its behalf by:
DAW, Thomas Benjamin
Director
Registered Company No. 12455274
LANE HOMES (SHERBRO) LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Land & buildings

Total

££
Cost or valuation
At 01 June 23640,198640,198
Disposals(128,039)(128,039)
At 31 May 24512,159512,159
Net book value
At 31 May 24512,159512,159
At 31 May 23640,198640,198
4.Stocks

2024

2023

££
Work in progress2,247,9401,070,642
Total2,247,9401,070,642
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables61,95149,421
Bank borrowings and overdrafts1,422,1551,277,871
Taxation and social security19,092-
Other creditors1,448,486438,219
Total2,951,6841,765,511
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.