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REGISTERED NUMBER: 03230820 (England and Wales)









LAMBOURNES SURVEYORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






LAMBOURNES SURVEYORS LIMITED (REGISTERED NUMBER: 03230820)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LAMBOURNES SURVEYORS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: M Jewell
P Dewey
A P Holmes





SECRETARY: M Jewell





REGISTERED OFFICE: Station House
North Street
Havant
Hampshire
PO9 1QU





REGISTERED NUMBER: 03230820 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

LAMBOURNES SURVEYORS LIMITED (REGISTERED NUMBER: 03230820)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 20,554 23,258
Investments 5 2 -
Investment property 6 10,500,000 10,027,500
10,520,556 10,050,758

CURRENT ASSETS
Debtors 7 172,536 261,953
Cash at bank 1,785,883 2,674,280
1,958,419 2,936,233
CREDITORS
Amounts falling due within one year 8 2,310,540 3,570,770
NET CURRENT LIABILITIES (352,121 ) (634,537 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,168,435

9,416,221

PROVISIONS FOR LIABILITIES 840,304 657,157
NET ASSETS 9,328,131 8,759,064

CAPITAL AND RESERVES
Called up share capital 100 100
Revaluation reserve 2,520,600 2,113,004
Retained earnings 6,807,431 6,645,960
9,328,131 8,759,064

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

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

LAMBOURNES SURVEYORS LIMITED (REGISTERED NUMBER: 03230820)

BALANCE SHEET - continued
31 DECEMBER 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 14 April 2025 and were signed on its behalf by:




M Jewell - Director



P Dewey - Director


LAMBOURNES SURVEYORS LIMITED (REGISTERED NUMBER: 03230820)

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

1. STATUTORY INFORMATION

Lambournes Surveyors Limited 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 as modified by the revaluation of certain assets.

Turnover
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 is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured
reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery15% reducing balance
Fixtures and fittings15% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Investment property
Investment property is carried at fair value determined annually by the Directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

LAMBOURNES SURVEYORS LIMITED (REGISTERED NUMBER: 03230820)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

LAMBOURNES SURVEYORS LIMITED (REGISTERED NUMBER: 03230820)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024 211,441
Additions 922
At 31 December 2024 212,363
DEPRECIATION
At 1 January 2024 188,183
Charge for year 3,626
At 31 December 2024 191,809
NET BOOK VALUE
At 31 December 2024 20,554
At 31 December 2023 23,258

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 2
At 31 December 2024 2
NET BOOK VALUE
At 31 December 2024 2

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 10,027,500
Disposals (245,000 )
Revaluations 717,500
At 31 December 2024 10,500,000
NET BOOK VALUE
At 31 December 2024 10,500,000
At 31 December 2023 10,027,500

LAMBOURNES SURVEYORS LIMITED (REGISTERED NUMBER: 03230820)

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

6. INVESTMENT PROPERTY - continued

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2021 4,516,335
Valuation in 2022 (1,204,000 )
Valuation in 2023 (363,500 )
Valuation in 2024 717,500
Cost 6,833,665
10,500,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 6,833,665 7,078,665

Investment properties were valued on an open market basis on 31 December 2024 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 86,240 130,495
Other debtors 86,296 131,458
172,536 261,953

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 5,760 -
Taxation and social security 72,353 97,586
Other creditors 2,232,427 3,473,184
2,310,540 3,570,770

Secured loans
Included within other creditors are amounts totalling £1,602,167 (2023 - £3,036,670) secured over specific investment properties held by the company.