Company registration number 14928740 (England and Wales)
FOUR LANE ENTERPRISES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
FOUR LANE ENTERPRISES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
FOUR LANE ENTERPRISES LTD
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
Notes
£
£
Fixed assets
Investments
4
99
Current assets
Debtors
6
5,000
Cash at bank and in hand
72
5,072
Creditors: amounts falling due within one year
7
(2,120)
Net current assets
2,952
Net assets
3,051
Capital and reserves
Called up share capital
8
78
Profit and loss reserves
2,973
Total equity
3,051
For the financial period ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 11 April 2025 and are signed on its behalf by:
Professor J Mann
Director
Company registration number 14928740 (England and Wales)
FOUR LANE ENTERPRISES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information
Four Lane Enterprises Ltd is a private company limited by shares incorporated in England and Wales. The registered office is C/O Square One Law, Anson House, Fleming Business Centre, Burdon Terrace, Newcastle upon Tyne, NE2 3AE.
1.1
Reporting period
The accounts cover the period from incorporation of the company on 12 June 2023 to 31 October 2024.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.3
Going concern
The company is reliant on its subsidiaries for financial support on an ongoing basis through the payment of dividends. trueAt the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
FOUR LANE ENTERPRISES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.7
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
FOUR LANE ENTERPRISES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 4 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
Number
Total
4
4
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
99
During the period the company acquired 100 % of the issued share capital of Fibrofind Ltd, FF Estates Ltd, Fibrofind IP Ltd and Arreynes Investments Ltd.
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 12 June 2023
-
Additions
99
At 31 October 2024
99
Carrying amount
At 31 October 2024
99
FOUR LANE ENTERPRISES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
- 5 -
5
Subsidiaries
Details of the company's subsidiaries at 31 October 2024 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
FibroFind Ltd
c/o Square One Law, Anson House, Fleming Business Centre, Burdon Terrace, Newcastle upon Tyne, NE2 3
Ordinary Shares
100.00
FF Estates Ltd
as above
Ordinary Shares
100.00
FibroFind IP Ltd
as above
Ordinary Shares
100.00
Arreynes Investments Ltd
as above
Ordinary Shares
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
FibroFind Ltd
2,563,916
1,531,485
FF Estates Ltd
FibroFind IP Ltd
10
Arreynes Investments Ltd
10
6
Debtors
2024
Amounts falling due within one year:
£
Amounts owed by group undertakings
5,000
7
Creditors: amounts falling due within one year
2024
£
Other creditors
2,120
8
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
A Ordinary Shares of 1p each
1,603
16
B Ordinary Shares of 1p each
1,603
16
C Ordinary Shares of 1p each
1,603
16
D Ordinary Shares of 1p each
1,603
16
E Ordinary Shares of 1p each
229
2
F Ordinary Shares of 1p each
229
2
G Ordinary Shares of 1p each
229
2
H Ordinary Shares of 1p each
229
2
J Ordinary Shares of 1p each
559
6
7,887
78
FOUR LANE ENTERPRISES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 OCTOBER 2024
8
Called up share capital
(Continued)
- 6 -
During the period the company issued 1,400 A Ordinary Shares of £0.01 each, 1,400 B Ordinary Shares of £0.01 each, 1,400 C Ordinary Shares of £0.01 each, 1,400 D Ordinary Shares of £0.01 each, 200 E Ordinary Shares of £0.01 each, 200 G Ordinary Shares of £0.01 each, 200 H Ordinary Shares of £0.01 each, and 487 J Ordinary Shares of £0.01 each. The consideration received for these shares was the same par value of shares in FibroFind Limited.
During the period the company issued 1,000 Ordinary shares of £0.01 each. The consideration received for these shares was the same par value of shares in FibroFind IP Limited. These shares were subsequently redesignated as 203 A Ordinary Shares, 203 B Ordinary Shares, 203 C Ordinary Shares, 203 D Ordinary Shares, 29 E Ordinary Shares, 29 F Ordinary Shares, 29 G Ordinary Shares, 29 H Ordinary Shares and 72 J Ordinary Shares.