Caseware UK (AP4) 2024.0.164 2024.0.164 2024-07-312024-07-312025-05-29falsefalse12023-07-24Residential property lettingfalsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 15025273 2023-07-23 15025273 2023-07-24 2024-07-31 15025273 2022-08-01 2023-07-23 15025273 2024-07-31 15025273 c:Director1 2023-07-24 2024-07-31 15025273 d:FreeholdInvestmentProperty 2023-07-24 2024-07-31 15025273 d:FreeholdInvestmentProperty 2024-07-31 15025273 d:CurrentFinancialInstruments 2024-07-31 15025273 d:CurrentFinancialInstruments d:WithinOneYear 2024-07-31 15025273 d:ShareCapital 2024-07-31 15025273 d:RetainedEarningsAccumulatedLosses 2024-07-31 15025273 c:FRS102 2023-07-24 2024-07-31 15025273 c:AuditExempt-NoAccountantsReport 2023-07-24 2024-07-31 15025273 c:FullAccounts 2023-07-24 2024-07-31 15025273 c:PrivateLimitedCompanyLtd 2023-07-24 2024-07-31 15025273 e:PoundSterling 2023-07-24 2024-07-31 iso4217:GBP xbrli:pure

Registered number: 15025273










LESTER & CO (P INVESTMENTS) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 JULY 2024

 
LESTER & CO (P INVESTMENTS) LIMITED
 

CONTENTS



Page
Balance Sheet
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 7


 
LESTER & CO (P INVESTMENTS) LIMITED
REGISTERED NUMBER: 15025273

BALANCE SHEET
AS AT 31 JULY 2024

2024
Note
£

Fixed assets
  

Investment property
 4 
395,020

  
395,020

Current assets
  

Debtors: amounts falling due within one year
 5 
3,595

Cash at bank and in hand
  
64,617

  
68,212

Current assets
  

Creditors: amounts falling due within one year
 6 
(505,771)

Net current liabilities
  
 
 
(437,559)

Total assets less current liabilities
  
(42,539)

  

Net liabilities
  
(42,539)


Capital and reserves
  

Called up share capital 
  
1

Profit and loss account
  
(42,540)

  
(42,539)


Page 1

 
LESTER & CO (P INVESTMENTS) LIMITED
REGISTERED NUMBER: 15025273
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2024

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 period 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.

The Company has opted not to file the profit and loss account 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 by: 




................................................
P A S Lester
Director

Date: 29 May 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
LESTER & CO (P INVESTMENTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

1.


General information

Lester & Co (P Investments) Limited is a private company, limited by shares, registered in England and Wales, registration number 15025273. The registered office is First Floor, One Colton Square, Leicester, LE1 1QH.
Principal activities
The Company was incorporated on the 24 July 2023. The principal activity of the Company is that of a residential property lettings.

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 Company's functional and presentational currency is British Pound Sterling (£).

The following principal accounting policies have been applied:

 
2.2

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.3

Borrowing costs

All borrowing costs are recognised in the Profit and Loss Account in the period in which they are incurred.

 
2.4

Taxation

Tax is recognised in the Profit and Loss Account 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 tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
 
Page 3

 
LESTER & CO (P INVESTMENTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

2.Accounting policies (continued)


2.4
Taxation (continued)

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers 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 the Profit and Loss Account.

 
2.6

Debtors

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

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

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

 
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 non-puttable ordinary shares.
 
Page 4

 
LESTER & CO (P INVESTMENTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

Debt instruments (other than those wholly repayable or receivable within one year), including loans nd other accounts receivable and payable, are initially measured at transaction price, net of ransaction costs and subsequently at amortised cost using the effective interest method. Debt nstruments that are payable or receivable within one year, typically trade debtors and creditors, are easured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
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 Profit and Loss Account.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet whenthere 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.



3.


Employees



The average monthly number of employees, including directors, during the period was 1.

Page 5

 
LESTER & CO (P INVESTMENTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

4.


Investment property


Freehold investment property

£



Valuation


Additions at cost
395,020



At 31 July 2024
395,020

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






5.


Debtors

2024
£


Amounts owed by Group undertakings
3,151

Prepayments and accrued income
444

3,595



6.


Creditors: Amounts falling due within one year

2024
£

Other loans
503,021

Accruals and deferred income
2,750

505,771


Other loans are secured with a fixed and floating charge over the investment property.


7.


Related party transactions

The Company has received a secured loan of £500,000 from a related party, which is repayable on demand or at the latest by the 10th anniversary of the loan agreement. Interest is charged on the loan at 2% above the National Westminster Bank plc base rate, accruing daily and payable quarterly in arrears for as long as the loan remains outstanding.
Page 6

 
LESTER & CO (P INVESTMENTS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2024

8.


Controlling party

The directors consider that the parent undertaking of this Company is Lester and Company (Developments) Limited, a Company registered in England and Wales. The registered office is 11 Merus Court, Meridian Business Park, Leicester, LE19 1RJ.
 
The Group is a small Group and is exempt from preparing consolidated accounts.


9.


 Comparative information

There is no comparative information included in the accounts as this is the first period from 24 July 2023 to 31 July 2024.

 
Page 7