Company registration number 11238116 (England and Wales)
LIFSCHUTZ DAVIDSON SANDILANDS HOLDINGS-UK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
LIFSCHUTZ DAVIDSON SANDILANDS HOLDINGS-UK LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
LIFSCHUTZ DAVIDSON SANDILANDS HOLDINGS-UK LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
8,000,000
8,000,000
Current assets
Debtors
4
237,163
-
0
Cash at bank and in hand
36,234
65,568
273,397
65,568
Creditors: amounts falling due within one year
5
-
0
(60,087)
Net current assets
273,397
5,481
Net assets
8,273,397
8,005,481
Capital and reserves
Called up share capital
6
8,000,000
8,000,000
Profit and loss reserves
7
273,397
5,481
Total equity
8,273,397
8,005,481

For the financial year ended 30 September 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 year 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 income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 April 2025 and are signed on its behalf by:
P R Sandilands
H J Roe
Director
Director
Company registration number 11238116 (England and Wales)
LIFSCHUTZ DAVIDSON SANDILANDS HOLDINGS-UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information

Lifschutz Davidson Sandilands Holdings-UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Leman Steet, London, United Kingdom, E1W 9US. The principal place of business is 22 St Peter's Square, London, W6 9NW.

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. 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.

1.2
Going concern

These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

1.3
Fixed asset investments

Interests in subsidiaries 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
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position 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 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.

LIFSCHUTZ DAVIDSON SANDILANDS HOLDINGS-UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
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.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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 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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.5
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.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

LIFSCHUTZ DAVIDSON SANDILANDS HOLDINGS-UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.7

Employee Ownership Trust

The company established an Employee Ownership Trust with the objective of ensuring that shares in the trading company 'Lifschutz Davidson Sandilands Limited' ("LDS") are held by the trustees for the benefit of LDS's employees,and so that those employees shall have an interest in LDS's business.

 

On 14 May 2019, the company entered into an agreement with Lifschutz Davidson Sandilands Employee Ownership Trust ("Trust"), whereby the company agreed to make available funds for the acquisition by the Trust of the founder shares in LDS. The acquisition was funded by the Trust taking out a loan, deferred consideration and contributions made by the company. During the period, the company made contributions amounting to £29,250 (2023: £1,376,625) to the Trust.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
8,000,000
8,000,000

Fixed asset investments comprises equity shares in a subsidiary undertaking which is not publicly traded.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
237,163
-
0

Included within amounts owed by group undertakings are loan balances that are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
-
0
60,087

Included within amounts owed to group undertakings is a loan balance that is unsecured, interest free, have no fixed date of repayment and is repayable on demand.

LIFSCHUTZ DAVIDSON SANDILANDS HOLDINGS-UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
8,000,000
8,000,000
8,000,000
8,000,000

There is a single class of ordinary share. There are no restrictions of distribution of dividends and repayment of capital.

7
Profit and loss reserves

Retained earnings represents accumulated comprehensive income for period and prior periods less dividends and contributions paid.

8
Related party transactions

The company has taken advantage of the exemption available under section 1A C.35 of FRS 102 “Related party disclosures” whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary of the group.

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