Company registration number 01756527 (England and Wales)
LAGRANGE (UK) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
LAGRANGE (UK) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
LAGRANGE (UK) LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
207,837
215,348
Investment property
4
981,150
981,150
1,188,987
1,196,498
Current assets
Debtors
5
11,568
8,991
Cash at bank and in hand
286,071
352,673
297,639
361,664
Creditors: amounts falling due within one year
6
(154,059)
(226,918)
Net current assets
143,580
134,746
Total assets less current liabilities
1,332,567
1,331,244
Creditors: amounts falling due after more than one year
7
(1,283,281)
(1,283,281)
Net assets
49,286
47,963
Capital and reserves
Called up share capital
8
80,000
80,000
Profit and loss reserves
(30,714)
(32,037)
Total equity
49,286
47,963
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 3 March 2025
Mr O Salter
Director
Company registration number 01756527 (England and Wales)
LAGRANGE (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information
Lagrange (UK) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 168 Shepherds Bush Road, Hammersmith, London, W6 7PB.
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.
1.2
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
The director has not prepared any detailed cash flow forecasts for the company on a standalone basis. However, the company is included in the group cash flow forecasts of the Traveland Group as it is managed at group level. The directors of the Traveland Group have confirmed that the group will have sufficient funds to meet it liabilities as they fall due for the foreseeable future, being at least 12 months for the date of the approval of these financial statements.
Traveland Group has also indicated that it will provide such funds required by the company to enable it to continue in operational existence for the foreseeable future and the director has no reason to believe that it will not do so. Accordingly, the director is confident that the company will have sufficient funds to meet its liabilities as they fall due for at least 12 months from the date of approval of the financial statements and consequently have been prepared on a going concern basis.
1.3
Turnover
Turnover represents revenue recognised on the date of departure net of VAT, trade discounts and agents' commissions.
Amounts received from customers in respect of departure dates after the balance sheet date are included in creditors.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
4% per annum straight line basis
Leasehold land and buildings
Over the period of the lease
Equipment and fittings
25% per annum reducing balance basis
LAGRANGE (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.7
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. The company holds only basic financial instruments, which comprise cash and cash equivalents, trade and other debtors, trade and other creditors and loans and borrowings.
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. Financial assets classified as receivable within one year are not amortised.
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. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.9
Taxation
The tax expense represents the sum of the tax currently payable.
Current tax
The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
LAGRANGE (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
1.11
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.
1.13
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
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
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 November 2023
416,400
6,549
422,949
Disposals
(190,787)
(190,787)
At 31 October 2024
225,613
6,549
232,162
Depreciation and impairment
At 1 November 2023
202,218
5,383
207,601
Depreciation charged in the year
7,220
291
7,511
Eliminated in respect of disposals
(190,787)
(190,787)
At 31 October 2024
18,651
5,674
24,325
Carrying amount
At 31 October 2024
206,962
875
207,837
At 31 October 2023
214,182
1,166
215,348
LAGRANGE (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
4
Investment property
2024
£
Fair value
At 1 November 2023 and 31 October 2024
981,150
The investment property was acquired for £981,150 on 29th March 2022. In the opinion of the director, the cost of the investment property approximates its fair value at 31st October 2024.
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
7,150
5,339
Other debtors
4,418
3,652
11,568
8,991
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
514
2,612
Amounts owed to group undertakings
100,577
156,019
Corporation tax
2,471
2,995
Other taxation and social security
716
Other creditors
50,497
64,576
154,059
226,918
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Amounts owed to group undertakings
1,283,281
1,283,281
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
80,000
80,000
80,000
80,000
LAGRANGE (UK) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 6 -
9
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 31 October 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Senior Statutory Auditor:
Stuart Heaney
Statutory Auditor:
Henton & Co LLP
Date of audit report:
4 March 2025
10
Financial commitments, guarantees and contingent liabilities
The company agreed on 27 March 2013 to provide a guarantee of £44,300 to ABTA Limited in respect of its financial obligation and customer protection under ABTA's regulations.
11
Parent company
The immediate parent undertaking is Lagrange Distribution SA, a company incorporated in Luxembourg.
The ultimate parent undertaking is Lasserre Investments SA, a company incorporated in Luxembourg.