IRIS Accounts Production v24.3.0.553 11477354 Board of Directors Board of Directors 1.8.23 31.7.24 31.7.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh114773542023-07-31114773542024-07-31114773542023-08-012024-07-31114773542022-07-31114773542022-08-012023-07-31114773542023-07-3111477354ns15:EnglandWales2023-08-012024-07-3111477354ns14:PoundSterling2023-08-012024-07-3111477354ns10:Director12023-08-012024-07-3111477354ns10:Director22023-08-012024-07-3111477354ns10:PrivateLimitedCompanyLtd2023-08-012024-07-3111477354ns10:SmallEntities2023-08-012024-07-3111477354ns10:AuditExempt-NoAccountantsReport2023-08-012024-07-3111477354ns10:SmallCompaniesRegimeForDirectorsReport2023-08-012024-07-3111477354ns10:SmallCompaniesRegimeForAccounts2023-08-012024-07-3111477354ns10:FullAccounts2023-08-012024-07-3111477354ns10:CompanySecretary12023-08-012024-07-3111477354ns10:RegisteredOffice2023-08-012024-07-3111477354ns5:CurrentFinancialInstruments2024-07-3111477354ns5:CurrentFinancialInstruments2023-07-3111477354ns5:ShareCapital2024-07-3111477354ns5:ShareCapital2023-07-3111477354ns5:RetainedEarningsAccumulatedLosses2024-07-3111477354ns5:RetainedEarningsAccumulatedLosses2023-07-3111477354ns5:PlantMachinery2023-08-012024-07-3111477354ns5:MotorVehicles2023-08-012024-07-3111477354ns5:ComputerEquipment2023-08-012024-07-3111477354ns5:PlantMachinery2023-07-3111477354ns5:MotorVehicles2023-07-3111477354ns5:ComputerEquipment2023-07-3111477354ns5:PlantMachinery2024-07-3111477354ns5:MotorVehicles2024-07-3111477354ns5:ComputerEquipment2024-07-3111477354ns5:PlantMachinery2023-07-3111477354ns5:MotorVehicles2023-07-3111477354ns5:ComputerEquipment2023-07-3111477354ns5:WithinOneYearns5:CurrentFinancialInstruments2024-07-3111477354ns5:WithinOneYearns5:CurrentFinancialInstruments2023-07-31
REGISTERED NUMBER: 11477354 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

LORNE LOFTS LTD

LORNE LOFTS LTD (REGISTERED NUMBER: 11477354)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LORNE LOFTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Ms H Phillips
N T Shirley





SECRETARY:





REGISTERED OFFICE: 65 Capel Road
London
E7 0JR





REGISTERED NUMBER: 11477354 (England and Wales)





ACCOUNTANTS: Tish Press & Company
Create Business Hub
Ground Floor
5 Rayleigh Road
Hutton, Brentwood.
Essex
CM13 1AB

LORNE LOFTS LTD (REGISTERED NUMBER: 11477354)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,681 27,230

CURRENT ASSETS
Stocks 99,146 100,222
Debtors 5 62,549 64,425
Cash at bank and in hand 22,771 380
184,466 165,027
CREDITORS
Amounts falling due within one year 6 135,228 96,658
NET CURRENT ASSETS 49,238 68,369
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,919

95,599

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 70,917 95,597
SHAREHOLDERS' FUNDS 70,919 95,599

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

LORNE LOFTS LTD (REGISTERED NUMBER: 11477354)

BALANCE SHEET - continued
31 JULY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 April 2025 and were signed on its behalf by:




N T Shirley - Director



Ms H Phillips - Director


LORNE LOFTS LTD (REGISTERED NUMBER: 11477354)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

Lorne Lofts Ltd 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

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 2 (2023 - 2 ) .

LORNE LOFTS LTD (REGISTERED NUMBER: 11477354)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2023
and 31 July 2024 660 51,456 944 53,060
DEPRECIATION
At 1 August 2023 483 25,111 236 25,830
Charge for year 44 5,269 236 5,549
At 31 July 2024 527 30,380 472 31,379
NET BOOK VALUE
At 31 July 2024 133 21,076 472 21,681
At 31 July 2023 177 26,345 708 27,230

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 10,602 10,150
Amounts owed by participating interests 51,947 54,275
62,549 64,425

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 18,333 28,333
Trade creditors 67,114 37,730
Tax 1,539 14,658
Social security and other taxes 370 (746 )
VAT 13,585 15,347
Other creditors 32,787 -
Directors' current accounts - 136
Accruals and deferred income 1,500 1,200
135,228 96,658