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Registration number: 03538731

Lindsell Properties Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

Lindsell Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Lindsell Properties Limited

Company Information

Directors

Mr M P Glass

Mr JM Lindsell

Mr CT Lindsell

Mr DL Lindsell

Company secretary

Mr CT Lindsell

Registered office

7 Princess Avenue
Bognor Regis
West Sussex
PO21 2QT

Accountants

Matthews Hanton Limited
Chartered Certified Accountants93 Aldwick Road
Bognor Regis
West Sussex
PO21 2NW

 

Lindsell Properties Limited

(Registration number: 03538731)
Balance Sheet as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

4,377,976

4,159,976

Current assets

 

Debtors

5

12,262

6,256

Cash at bank and in hand

 

114,131

305,113

 

126,393

311,369

Creditors: Amounts falling due within one year

6

(401,380)

(442,773)

Net current liabilities

 

(274,987)

(131,404)

Total assets less current liabilities

 

4,102,989

4,028,572

Creditors: Amounts falling due after more than one year

6

(405,000)

(405,000)

Provisions for liabilities

(318,746)

(242,247)

Net assets

 

3,379,243

3,381,325

Capital and reserves

 

Called up share capital

7

100

100

Other reserves

1,919,162

1,919,162

Retained earnings

1,459,981

1,462,063

Shareholders' funds

 

3,379,243

3,381,325

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 15 July 2025 and signed on its behalf by:
 

.........................................
Mr JM Lindsell
Director

 

Lindsell Properties 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 England and Wales.

The address of its registered office is:
7 Princess Avenue
Bognor Regis
West Sussex
PO21 2QT
England

These financial statements were authorised for issue by the Board on 15 July 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Lindsell Properties Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

The company's policy regarding its freehold and leasehold properties is to maintain them to a high standard through a continual programme of refurbishment and maintenance. In accordance with this practise, depreciation is not provided on the property as, in the opinion of the directors, the residual value (in terms of original cost) is such that any depreciation charge would be immaterial.

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:

Asset class

Depreciation method and rate

Freehold property

not provided

Long leasehold property

not provided

Furniture and fittings

20% on cost

Office equipment

25% on cost

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.

 

Lindsell Properties Limited

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

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2024 - 4).

 

Lindsell Properties Limited

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

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

4,159,974

6,895

4,166,869

Additions

218,000

-

218,000

At 31 March 2025

4,377,974

6,895

4,384,869

Depreciation

At 1 April 2024

-

6,893

6,893

At 31 March 2025

-

6,893

6,893

Carrying amount

At 31 March 2025

4,377,974

2

4,377,976

At 31 March 2024

4,159,974

2

4,159,976

Included within the net book value of land and buildings above is £3,537,000 (2024 - £3,537,000) in respect of freehold land and buildings and £840,974 (2024 - £622,974) in respect of long leasehold land and buildings.
 

Revaluation

The fair value of the company's freehold and leasehold property was revalued on 31 March 2017. An independent valuer was not involved.
The company has elected to undertake a one-off valuation of its properties as at the above date.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £2,415,661 (2024 - £2,197,661).

 

Lindsell Properties Limited

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

5

Debtors

Current

2025
£

2024
£

Trade debtors

12,262

6,256

 

12,262

6,256

6

Creditors

Creditors: amounts falling due within one year

2025
£

2024
£

Due within one year

Trade creditors

6,140

6,369

Taxation and social security

46,650

44,382

Accruals and deferred income

12,107

11,317

Other creditors

336,483

380,705

401,380

442,773

Creditors: amounts falling due after more than one year

2025
£

2024
£

Due after one year

Other financial liabilities

405,000

405,000

7

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

       

8

Related party transactions

 

Lindsell Properties Limited

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

Directors' remuneration

The directors' remuneration for the year was as follows:

2025
£

2024
£

Remuneration

67,500

60,000

Contributions paid to money purchase schemes

40,000

30,000

107,500

90,000

Summary of transactions with entities with joint control or significant interest

The company owes Crescentworth Limited £150,000 (2024 £150,000) and Boundworth £255,000 ( 2024 £255,000) at the year end.

These companies are under similar control.

9

Parent and ultimate parent undertaking

The ultimate controlling parties are the directors.