Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-312023-08-01falseNo description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14232845 2023-08-01 2024-07-31 14232845 1 2023-08-01 2024-07-31 14232845 2022-07-13 2023-07-31 14232845 2024-07-31 14232845 2023-07-31 14232845 d:Director1 2023-08-01 2024-07-31 14232845 c:FreeholdInvestmentProperty 2023-08-01 2024-07-31 14232845 c:FreeholdInvestmentProperty 2024-07-31 14232845 c:CurrentFinancialInstruments 2024-07-31 14232845 c:CurrentFinancialInstruments 2023-07-31 14232845 c:Non-currentFinancialInstruments 2024-07-31 14232845 c:Non-currentFinancialInstruments 2023-07-31 14232845 c:CurrentFinancialInstruments c:WithinOneYear 2024-07-31 14232845 c:CurrentFinancialInstruments c:WithinOneYear 2023-07-31 14232845 c:Non-currentFinancialInstruments c:AfterOneYear 2024-07-31 14232845 c:Non-currentFinancialInstruments c:AfterOneYear 2023-07-31 14232845 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-07-31 14232845 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-07-31 14232845 c:ShareCapital 2024-07-31 14232845 c:ShareCapital 2023-07-31 14232845 c:RetainedEarningsAccumulatedLosses 2024-07-31 14232845 c:RetainedEarningsAccumulatedLosses 2023-07-31 14232845 d:FRS102 2023-08-01 2024-07-31 14232845 d:AuditExempt-NoAccountantsReport 2023-08-01 2024-07-31 14232845 d:FullAccounts 2023-08-01 2024-07-31 14232845 d:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 14232845 e:PoundSterling 2023-08-01 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 14232845









LSM HOMES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
LSM HOMES LIMITED
REGISTERED NUMBER: 14232845

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
  
1,980,000
-

  
1,980,000
-

Current assets
  

Debtors: amounts falling due within one year
  
19,654
-

Cash at bank and in hand
 6 
20
100

  
19,674
100

Creditors: amounts falling due within one year
  
(44,125)
-

Net current (liabilities)/assets
  
 
 
(24,451)
 
 
100

Total assets less current liabilities
  
1,955,549
100

Creditors: amounts falling due after more than one year
  
(1,980,200)
-

  

Net (liabilities)/assets
  
(24,651)
100


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(24,751)
-

  
(24,651)
100


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

Page 1

 
LSM HOMES LIMITED
REGISTERED NUMBER: 14232845
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 April 2025.



L. J. Murphy
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
LSM HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

LSM Homes Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 30 Orange Street, London, WC2H 7HF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue represents rents receivable.

 
2.3

Finance costs

Finance costs are charged to profit or loss when incurred.

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Investment property

Investment property is carried at fair value determined annually by the director. Investment property is not depreciated. Changes in fair value are recognised in the Statement of income.

 
2.6

Debtors

Short-term debtors are measured at transaction price.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Creditors

Short-term creditors are measured at the transaction price.

Page 3

 
LSM HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of income and retained earnings.
Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


 
2.10

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.



3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Investment property


Freehold investment property

£



Valuation


Additions at cost
1,980,000



At 31 July 2024
1,980,000

The 2024 valuations were made by the director, on an open market value for existing use basis.






Page 4

 
LSM HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£


Westerham Homes Ltd
10,721
-

Prepayments
8,933
-

19,654
-



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank
20
100

20
100



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
10,358
-

Reigate Land Ltd
22,449
-

Lusson Ltd
3,450
-

Whitgift Estates Limited
3,618
-

Accruals
4,250
-

44,125
-


Page 5

 
LSM HOMES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Paragon Bank Plc
1,427,200
-

Reigate Land Ltd
553,000
-

1,980,200
-


Paragon Bank Plc provided mortgages to the company totalling £1,427,200. Interest is charged at a rate of 5.25% pa. The loan is secured by four fixed charges regarding 1 Forest Gate House, 2 Forest Gate House, 3 Forest Gate House and 6 Forest Gate House. 


9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£



Amounts falling due 2-5 years

Paragon Bank Plc
1,427,200
-


1,427,200
-


1,427,200
-



10.


Related party transactions

During the year, the company paid certain costs on behalf of a related company, Westerham Homes Ltd (WHL) to fund costs. At the year end, the balance due from WHL was £10,721 (2023 - £Nil).
During the year, the company received loans from related companies, Whitgift Estates Limited (WEL) to fund costs and Reigate Land Ltd (RLL) to fund costs and the purchase of the investment properties. At the year end, the balance due to WEL was £3,618 (2023 - £Nil) and due to RLL was £575,449 (2023 - £Nil).
The loans are interest free.


11.


Controlling party

The controlling party is Reigate Land Ltd by virtue of owing 100% of the issued share capital.

 
Page 6