2 false false false false false false false false false true false false false false false false No description of principal activity 2023-07-01 Sage Accounts Production Advanced 2023 - FRS102_2023 36,000 20,000 16,000 19,900 19,900 900 900 15,100 16,100 xbrli:pure xbrli:shares iso4217:GBP 4005933 2023-07-01 2024-06-30 4005933 2024-06-30 4005933 2023-06-30 4005933 2022-07-01 2023-06-30 4005933 2023-06-30 4005933 2022-06-30 4005933 core:FurnitureFittings 2023-07-01 2024-06-30 4005933 core:MotorVehicles 2023-07-01 2024-06-30 4005933 bus:Director1 2023-07-01 2024-06-30 4005933 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 4005933 core:LandBuildings core:LongLeaseholdAssets 2023-06-30 4005933 core:FurnitureFittings 2023-06-30 4005933 core:MotorVehicles 2023-06-30 4005933 core:LandBuildings core:OwnedOrFreeholdAssets 2024-06-30 4005933 core:LandBuildings core:LongLeaseholdAssets 2024-06-30 4005933 core:FurnitureFittings 2024-06-30 4005933 core:MotorVehicles 2024-06-30 4005933 core:LandBuildings core:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 4005933 core:LandBuildings core:LongLeaseholdAssets 2023-07-01 2024-06-30 4005933 core:AfterOneYear 2024-06-30 4005933 core:AfterOneYear 2023-06-30 4005933 core:WithinOneYear 2024-06-30 4005933 core:WithinOneYear 2023-06-30 4005933 core:ShareCapital 2024-06-30 4005933 core:ShareCapital 2023-06-30 4005933 core:OtherReservesSubtotal 2024-06-30 4005933 core:OtherReservesSubtotal 2023-06-30 4005933 core:RetainedEarningsAccumulatedLosses 2024-06-30 4005933 core:RetainedEarningsAccumulatedLosses 2023-06-30 4005933 core:CostValuation core:Non-currentFinancialInstruments 2023-06-30 4005933 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-06-30 4005933 core:CostValuation core:Non-currentFinancialInstruments 2024-06-30 4005933 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-06-30 4005933 core:DisposalsDecreaseInProvisionsForImpairmentInvestments core:Non-currentFinancialInstruments 2024-06-30 4005933 core:ImpairmentLossProvisionsForImpairmentInvestments core:Non-currentFinancialInstruments 2024-06-30 4005933 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2024-06-30 4005933 core:Non-currentFinancialInstruments 2024-06-30 4005933 core:Non-currentFinancialInstruments 2023-06-30 4005933 core:LandBuildings core:OwnedOrFreeholdAssets 2023-06-30 4005933 core:LandBuildings core:LongLeaseholdAssets 2023-06-30 4005933 core:FurnitureFittings 2023-06-30 4005933 core:MotorVehicles 2023-06-30 4005933 bus:Director1 2023-06-30 4005933 bus:Director1 2024-06-30 4005933 bus:Director1 2022-06-30 4005933 bus:Director1 2023-06-30 4005933 bus:Director1 2022-07-01 2023-06-30 4005933 bus:SmallEntities 2023-07-01 2024-06-30 4005933 bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 4005933 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 4005933 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 4005933 bus:FullAccounts 2023-07-01 2024-06-30
COMPANY REGISTRATION NUMBER: 4005933
Lazenbury Limited
Filleted Unaudited Financial Statements
30 June 2024
Lazenbury Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
9,059,417
8,594,339
Investments
6
15,100
16,100
------------
------------
9,074,517
8,610,439
Current assets
Debtors
7
2,592,478
1,991,575
Cash at bank and in hand
326,109
506,502
------------
------------
2,918,587
2,498,077
Creditors: amounts falling due within one year
8
474,228
1,972,342
------------
------------
Net current assets
2,444,359
525,735
-------------
------------
Total assets less current liabilities
11,518,876
9,136,174
Creditors: amounts falling due after more than one year
9
5,518,338
5,314,358
Provisions
Taxation including deferred tax
397,619
297,045
-------------
------------
Net assets
5,602,919
3,524,771
-------------
------------
Capital and reserves
Called up share capital
100
100
Fair value reserve
1,695,111
1,266,348
Profit and loss account
3,907,708
2,258,323
------------
------------
Shareholders funds
5,602,919
3,524,771
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Lazenbury Limited
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 24 June 2025 , and are signed on behalf of the board by:
T M Lazenbury Esq
Director
Company registration number: 4005933
Lazenbury Limited
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is TML House, 1a The Anchorage, Gosport, Hampshire, P012 1LY.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
No significant judgements have been made by the director in preparing these financial statements.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tangible assets
Freehold property
Long leasehold property
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost or valuation
At 1 July 2023
3,268,496
5,318,860
28,555
9,250
8,625,161
Additions
1,150
7,500
8,650
Revaluations
339,550
120,500
460,050
------------
------------
--------
--------
------------
At 30 June 2024
3,609,196
5,439,360
28,555
16,750
9,093,861
------------
------------
--------
--------
------------
Depreciation
At 1 July 2023
21,963
8,859
30,822
Charge for the year
1,649
1,973
3,622
------------
------------
--------
--------
------------
At 30 June 2024
23,612
10,832
34,444
------------
------------
--------
--------
------------
Carrying amount
At 30 June 2024
3,609,196
5,439,360
4,943
5,918
9,059,417
------------
------------
--------
--------
------------
At 30 June 2023
3,268,496
5,318,860
6,592
391
8,594,339
------------
------------
--------
--------
------------
The company holds investment property with a cost price of £6,954,636 (2023: £6,953,486). The properties are reflected in the accounts at their fair value at the balance sheet date. The valuation is carried out annually by T M Lazenbury Esq , the director with reference to the open market.
6. Investments
Shares in group undertakings
£
Cost
At 1 July 2023
36,000
Disposals
( 20,000)
--------
At 30 June 2024
16,000
--------
Impairment
At 1 July 2023
19,900
Disposals
( 19,900)
Impairment losses
900
--------
At 30 June 2024
900
--------
Carrying amount
At 30 June 2024
15,100
--------
At 30 June 2023
16,100
--------
7. Debtors
2024
2023
£
£
Other debtors
2,592,478
1,991,575
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
27,451
2,355
Corporation tax
72,942
96,003
Social security and other taxes
448
748
Other creditors
373,387
1,873,236
---------
------------
474,228
1,972,342
---------
------------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
5,518,338
5,194,358
Amounts owed to group undertakings and undertakings in which the company has a participating interest
120,000
------------
------------
5,518,338
5,314,358
------------
------------
10. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
T M Lazenbury Esq
120,560
30,515
151,075
---------
--------
---------
2023
Balance brought forward
Advances/ (credits) to the director
Balance outstanding
£
£
£
T M Lazenbury Esq
( 250)
120,810
120,560
----
---------
---------
11. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
Balance owed by/(owed to)
2024
2023
2024
2023
£
£
£
£
Trevor Michael Lazenbury Limited
1,806,489
(161,475)
158,750
( 1,647,739)
BRO UK Limited
(37,527)
(17,526)
( 131,580)
( 94,053)
Canterfield Ltd
107,300
53,634
( 127,822)
( 235,122)
Buildfine Estates Ltd
240
240
( 11,702)
( 11,942)
Oldrose Estates Ltd
(19,152)
(19,800)
74,095
93,247
Talland Court Limited
(5,094)
3,250
44,922
50,016
Winlaz Property Limited
(29,926)
(203,680)
433,201
463,127
Lazenbury House Limited
(5,445)
(5,498)
276,963
282,408
Elson Road Limited
(1,042)
(1,591)
18,724
19,766
Lazenbury Woodland (IOW) Limited
(750)
1,680
185,065
185,815
Nathan Trevor Lazenbury Limited
30,659
76,621
45,962
Netherton Road Limited
(350)
(2,145)
( 4,198)
( 3,848)
Lazenbury Property (Stoke Road) Limited
(15,786)
(1,555)
( 73,643)
( 57,857)
Lazenbury Property (Bemisters & Park Parade) Limited
(25,047)
(35,725)
232,707
257,754
Lazenbury Property (Forton) Limited
4,420
(482)
185,477
181,057
Lazenbury Property (Lydia) Limited
60,993
213,639
352,340
291,347
Gosport High Street Limmited
3,764
4,164
4,164
265 Forton Road Limited
(11,143)
3,889
( 7,219)
3,924
2000PC Limited
330,911
330,911
Lazenbury Property Management Limited
6,415
2,364
( 2,749)
( 9,164)
------------
---------
---------
------------
T M Lazenbury Esq is the managing director and sole shareholder of Trevor Michael Lazenbury Limited .
T M Lazenbury Esq is the managing director and sole shareholder of Lazenbury Ltd.
Mrs T Lazenbury is the managing director of Canterfield Ltd and owns eighty per cent of the issued voting share capital. Trevor Michael Lazenbury Limited owns the remaining twenty per cent of the issued voting share capital of Canterfield Ltd.
T M Lazenbury Esq is the managing director of Buildfine Estates Ltd. Oldrose Estates Ltd owns one hundred per cent of the issued share capital.
T M Lazenbury Esq is the managing director of Oldrose Estates Ltd and owns fifty per cent of the issued share capital.
T M Lazenbury Esq is the managing director of Talland Court Limited and owns one hundred per cent of the issued share capital.
T M Lazenbury Esq is the managing director of WinLaz Property Limited and owns one hundred per cent of the issued share capital.
T M Lazenbury Esq is the managing director of Lazenbury House Limited and owns one hundred per cent of the issued share capital.
T M Lazenbury Esq is the managing director of Elson Road Limited and owns one hundred per cent of the issued share capital.
T M Lazenbury Esq is the managing director of Lazenbury Woodland (IOW) Limited and owns one hundred per cent of the issued share capital.
Nathan Trevor Lazenbury Limited is a company under the control of the directors son.
Netherton Road Limited is a wholly owned subsidary of Lazenbury Limited.
T M Lazenbury Esq is the managing director of Lazenbury Property (Stoke Road) Limited and owns ninety per cent of the issued share capital.
T M Lazenbury Esq is the managing director of Lazenbury Property (Bemisters & Park Parade) Limited and owns one hundred per cent of the issued share capital.
T M Lazenbury Esq is the managing director of Lazenbury Property (Forton) Limited and owns one hundred per cent of the issued share capital.
T M Lazenbury Esq is the managing director of Lazenbury Property (Lydia) Limited and owns fifty per cent of the issued share capital.
T M Lazenbury Esq is the managing director of Gosport High Street Limited and owns one hundred per cent of the issued share capital.
T M Lazenbury Esq is the managing director of 265 Forton Limited and owns one hundred per cent of the issued share capital.
T M Lazenbury Esq is the managing director of 2000PC Limited and owns eighty one per cent of the issued share capital.
T M Lazenbury Esq is the managing director of Lazenbury Property Management Limited and owns one hundred per cent of the issued share capital.