Company registration number 02332039 (England and Wales)
LEMON UNNA & DURBRIDGE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
for the year ended
30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
LEMON UNNA & DURBRIDGE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 7
LEMON UNNA & DURBRIDGE LIMITED
BALANCE SHEET
AS AT
30 JUNE 2024
30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Fixed asset investments
6
30,463
30,463
Current assets
Debtors
8
35
831
Cash at bank and in hand
29
197
64
1,028
Creditors: amounts falling due within one year
9
(9,084)
(8,896)
Net current liabilities
(9,020)
(7,868)
Total assets less current liabilities
21,443
22,595
Net assets
21,443
22,595
Capital and reserves
Called up share capital
10
4
4
Profit and loss account
21,439
22,591
Total equity
21,443
22,595

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

The financial statements were approved by the board of directors and authorised for issue on 26 March 2025 and are signed on its behalf by:
S. Durbridge
Director
Company Registration No. 02332039
LEMON UNNA & DURBRIDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information

Lemon Unna & Durbridge Limited is a private company limited by shares incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The registered office is Summit House, 170 Finchley Road, London, NW3 6BP.

1.1
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, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of Martinhoe Holdings Limited. These consolidated financial statements are available from its registered office.

1.2
Going concern

The company's business activities are set out in the Directors' Report. The company ceased trading on the 27th August 2020 and is now a holding company with no real expenditure of its own. The company derives all of its income from dividends received from its investments. The company's forecast and projections indicate the company will continue to be a holding company throughout the current financial year and beyond.true

 

In reaching their decision to prepare the financial statements on a going concern basis, the directors

considered the impact of the current economic climate on both the company and its associate, The Agency (London) Limited from which ongoing dividend income is derived, as well as the following areas:

LEMON UNNA & DURBRIDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -

 

 

 

Having given due consideration to the anticipated future performance of the company and the group, the directors have been able to form a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

1.3
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.

1.4
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.

1.5
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 unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

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.

LEMON UNNA & DURBRIDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies that are classified as debt, 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.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
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.

1.7

Dividend Income

Dividend income is recognised when the right to receive payment is established.

2
Critical accounting 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.

 

In the opinion of the directors there were no critical accounting judgements or key soruces of estimation uncertainty which were relevant to the preparation of the financial statements.

3
Employees

The directors are employed by The Agency Limited (a related entity) and that there are no employees within Lemon Unna & Durbridge Limited

LEMON UNNA & DURBRIDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
4
Taxation

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
387,309
363,032
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 20.50%)
96,827
74,422
Unutilised tax losses carried forward
288
192
Dividend received
(97,115)
(74,614)
Taxation charge for the year
-
-

 

5
Dividends
2024
2023
£
£
Final paid
388,461
363,971
6
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
30,463
30,463
7
Subsidiaries

Details of the company's subsidiaries at 30 June 2024 are as follows:

Name of undertaking
Address
Class of
% Held
shares held
Direct
The Agency (London) Limited
England
Ordinary
29.50

Registered office addresses (all UK unless otherwise indicated):

Summit House, 170 Finchley Road, London, NW3 6BP
The aggregate capital and reserves and the result for the year of the associate noted above was as follows:
LEMON UNNA & DURBRIDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
7
Subsidiaries
(Continued)
- 6 -
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
The Agency (London) Limited
991,526
834,454
8
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
35
831
9
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
187
-
0
Amounts owed to group undertakings
8,678
8,678
Other creditors
219
218
9,084
8,896

Amounts owed to group undertakings are unsecured, interest free, have no fixed payment date and are repayable on demand.

10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
'A' Ordinary shares of 1p each
260
260
2
2
'B' Ordinary shares of 0.5p each
140
140
1
1
'C' Ordinary shares of 0.5p each
140
140
1
1
540
540
4
4

The A Ordinary shares, B Ordinary shares and C Ordinary shares have the rights, including as to dividends and return of capital, as set out in the articles of the company.

11
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The auditor was Deloitte LLP. The auditor's report was signed by Nicki Pickering, FCA as senior statutory auditor.
LEMON UNNA & DURBRIDGE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 7 -
12
Parent company

The immediate parent company is Avalon Management Group Limited. The registered office address of the company is 4A Exmoor Street, London, W10 6BD. The ultimate parent and the smallest and largest group in which the financial statements of The Agency (London) Limited are consolidated is Martinhoe Holdings Limited. Group accounts can be obtained from the company secretary at their registered office address.

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