0 0 Lane Homes Limited 04755392 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is Construction Digita Accounts Production Advanced 6.30.9574.0 true 04755392 2024-04-01 2025-03-31 04755392 2025-03-31 04755392 bus:OrdinaryShareClass1 2025-03-31 04755392 bus:OrdinaryShareClass2 2025-03-31 04755392 bus:OrdinaryShareClass3 2025-03-31 04755392 core:CurrentFinancialInstruments 2025-03-31 04755392 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 04755392 core:FurnitureFittingsToolsEquipment 2025-03-31 04755392 core:MotorVehicles 2025-03-31 04755392 bus:SmallEntities 2024-04-01 2025-03-31 04755392 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 04755392 bus:FilletedAccounts 2024-04-01 2025-03-31 04755392 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 04755392 bus:RegisteredOffice 2024-04-01 2025-03-31 04755392 bus:Director1 2024-04-01 2025-03-31 04755392 bus:Director2 2024-04-01 2025-03-31 04755392 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 04755392 bus:OrdinaryShareClass2 2024-04-01 2025-03-31 04755392 bus:OrdinaryShareClass3 2024-04-01 2025-03-31 04755392 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04755392 bus:Agent1 2024-04-01 2025-03-31 04755392 core:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31 04755392 core:MotorVehicles 2024-04-01 2025-03-31 04755392 countries:AllCountries 2024-04-01 2025-03-31 04755392 2024-03-31 04755392 core:FurnitureFittingsToolsEquipment 2024-03-31 04755392 core:MotorVehicles 2024-03-31 04755392 2023-04-01 2024-03-31 04755392 2024-03-31 04755392 bus:OrdinaryShareClass1 2024-03-31 04755392 bus:OrdinaryShareClass2 2024-03-31 04755392 bus:OrdinaryShareClass3 2024-03-31 04755392 core:CurrentFinancialInstruments 2024-03-31 04755392 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 04755392 core:FurnitureFittingsToolsEquipment 2024-03-31 04755392 core:MotorVehicles 2024-03-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: 04755392

Lane Homes Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Lane Homes Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Lane Homes Limited

Company Information

Directors

Glen Lane

Jean Lane

Registered office

Prospect Garden, Blakes Hill Road, Landkey
Barnstaple
Devon
EX32 0JU

Accountants

Ward and Co Chartered Accountants West Penhill Farm
Fremington
Barnstaple
Devon
EX31 2NG

 

Lane Homes Limited

(Registration number: 04755392)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

82,328

27,030

Current assets

 

Stock

5

1,033,331

432,780

Debtors

6

2,653

2,253

Cash at bank and in hand

 

8,674

35,245

 

1,044,658

470,278

Creditors: Amounts falling due within one year

7

(651,212)

(2,581)

Net current assets

 

393,446

467,697

Net assets

 

475,774

494,727

Capital and reserves

 

Called up share capital

8

502

502

Retained earnings

475,272

494,225

Shareholders' funds

 

475,774

494,727

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 May 2025 and signed on its behalf by:
 

.........................................
Glen Lane
Director

.........................................
Jean Lane
Director

 

Lane Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
Prospect Garden, Blakes Hill Road, Landkey
Barnstaple
Devon
EX32 0JU

These financial statements were authorised for issue by the Board on 27 May 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Lane Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stock

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stock are assessed for impairment. If stock are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 0).

 

Lane Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4

Tangible assets

Plant & Machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

122,896

24,059

146,955

Additions

70,500

-

70,500

At 31 March 2025

193,396

24,059

217,455

Depreciation

At 1 April 2024

110,641

9,284

119,925

Charge for the year

12,986

2,216

15,202

At 31 March 2025

123,627

11,500

135,127

Carrying amount

At 31 March 2025

69,769

12,559

82,328

At 31 March 2024

12,255

14,775

27,030

5

Stock

2025
£

2024
£

Work in progress

1,033,331

432,780

6

Debtors

Current

2025
£

2024
£

Other debtors

2,653

2,253

 

2,653

2,253

7

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

4,256

1,625

Other creditors

646,956

956

651,212

2,581

 

Lane Homes Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

500

500

500

500

Ordinary shares of £1 each

1

1

1

1

Ordinary shares of £1 each

1

1

1

1

502

502

502

502

9

Dividends

2025

2024

£

£

Interim dividend of £Nil (2024 - £2,000.00) per ordinary share

-

2,000