Company registration number 08979939 (England and Wales)
LODGE PINE DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
LODGE PINE DEVELOPMENTS LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
LODGE PINE DEVELOPMENTS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024
30 June 2024
- 1 -
30 June 2024
31 December 2023
Notes
£
£
£
£
Fixed assets
Investments
3
29,246,679
28,137,805
Current assets
Debtors
4
1,547,146
1,514,526
Cash at bank and in hand
400
400
1,547,546
1,514,926
Creditors: amounts falling due within one year
5
(1,547,146)
(1,514,526)
Net current assets
400
400
Net assets
29,247,079
28,138,205
Capital and reserves
Called up share capital
6
30,000,800
30,000,800
Revaluation reserve
7
(753,721)
(1,862,595)
Total equity
29,247,079
28,138,205
For the financial period ended 30 June 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 period 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 23 June 2025 and are signed on its behalf by:
F J Burke
Director
Company registration number 08979939 (England and Wales)
LODGE PINE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
- 2 -
1
Accounting policies
Company information
Lodge Pine Developments Limited is a private company limited by shares incorporated in England and Wales. The principal place of business is Phoenix House, Oxford Road, Gerrards Cross, Buckinghamshire SL9 7AP.
1.1
Reporting period
The company's accounting reference date was shortened to 30 June 2024 and the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
1.2
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 the revaluation of investments in subsidiaries. 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.
1.3
Fixed asset investments
Interests in subsidiaries are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Transaction costs are expensed to profit or loss as incurred. Changes in fair value are recognised in other comprehensive income except to the extent that a gain reverses a loss previously recognised in profit or loss, or a loss exceeds the accumulated gains recognised in equity; such gains and losses are recognised 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 at bank and in hand are basic financial assets and include cash in hand.
1.5
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, 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.
LODGE PINE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 3 -
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, including creditors and loans from fellow group companies 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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2023
Number
Number
Total
6
6
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
29,246,679
28,137,805
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 January 2024
28,137,805
Valuation changes
1,108,874
At 30 June 2024
29,246,679
Carrying amount
At 30 June 2024
29,246,679
At 31 December 2023
28,137,805
LODGE PINE DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,547,146
1,514,526
5
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
1,547,146
1,514,526
Other creditors represents amounts due to The Oak Manor Pension Scheme. The loan is secured by a charge over the personal shareholdings of F J Burke and B P Burke in Lodge Pine Developments Limited.
Interest on this loan is charged at 3.75% per annum. The funds from this loan are utilised in a 100% owned subsidiary entity, Farmglade Limited and therefore an equal and opposite loan is included in this entity at the same rate of interest.
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
800
800
800
800
2024
2023
2024
2023
Preference share capital
Number
Number
£
£
Issued and fully paid
of £1 each
30,000,000
30,000,000
30,000,000
30,000,000
Preference shares classified as equity
30,000,000
30,000,000
Total equity share capital
30,000,800
30,000,800
7
Revaluation reserve
The Revaluation reserve represents cumulative unrealised gains and losses.