Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31falseSecurity guarding services.2024-01-0133falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13515245 2024-01-01 2024-12-31 13515245 2023-01-01 2023-12-31 13515245 2024-12-31 13515245 2023-12-31 13515245 c:Director1 2024-01-01 2024-12-31 13515245 d:CurrentFinancialInstruments 2024-12-31 13515245 d:CurrentFinancialInstruments 2023-12-31 13515245 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 13515245 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 13515245 d:ShareCapital 2024-12-31 13515245 d:ShareCapital 2023-12-31 13515245 d:RetainedEarningsAccumulatedLosses 2024-12-31 13515245 d:RetainedEarningsAccumulatedLosses 2023-12-31 13515245 c:FRS102 2024-01-01 2024-12-31 13515245 c:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 13515245 c:FullAccounts 2024-01-01 2024-12-31 13515245 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 13515245 7 2024-01-01 2024-12-31 13515245 12 2024-01-01 2024-12-31 13515245 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 13515245









LANCE MORTGAGES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
LANCE MORTGAGES LIMITED
 
 
  
REPORT TO THE DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LANCE MORTGAGES LIMITED
FOR THE YEAR ENDED 31 DECEMBER 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lance Mortgages Limited for the year ended 31 December 2024 which comprise  the Statement of Financial Position and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountantswe are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal .com/uk/en/about-us /regulation/ethics /acca-rulebook.html.

This report is made solely to the Board of Directors of Lance Mortgages Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Lance Mortgages Limited and state those matters that we have agreed to state to the Board of Directors of Lance Mortgages Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal .com/content/dam/ACCA_Global /Technical /fact/technical-factsheet -163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lance Mortgages Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Lance Mortgages Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lance Mortgages Limited. You consider that Lance Mortgages Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Lance Mortgages Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Accendo Consulting Ltd
Chartered Certified Accountants & Statutory Auditors
23 June 2025
Page 1

 
LANCE MORTGAGES LIMITED
REGISTERED NUMBER: 13515245

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
28,094
10,651

Cash at bank and in hand
 5 
53,647
12,300

  
81,741
22,951

Creditors: amounts falling due within one year
 6 
(29,678)
(9,729)

Net current assets
  
 
 
52,063
 
 
13,222

Total assets less current liabilities
  
52,063
13,222

  

Net assets
  
52,063
13,222


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
52,062
13,221

  
52,063
13,222


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Scott Harris
Director

Date: 23 June 2025
Page 2

 
LANCE MORTGAGES LIMITED
REGISTERED NUMBER: 13515245
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024


The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
LANCE MORTGAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Lance Mortgages Limited is a private company limited by shares, incorporated in England and Wales. The Company’s registration number is 13515245.
The registered office address is: Fair Trade House, 3 Whittle Avenue, Fareham, United Kingdom, PO15 5SH.
The principal activity of the company is mortgage intermediation to the retail market.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company meets its day-to-day working capital requirements through close management of its cash flows.
As at the date of approval of these accounts the business has sufficient cash, net current assets and financing facility to cover its fixed costs for the foreseeable future.

The directors are satisfied that at the date of approval of financial statements, the company has sufficient resources to continue as a going concern and there are no material uncertainties that would cast doubt over the ability of the company to continue as a going concern for at least one year from the date of approval.
The directors, having considered this and the financial position of the company, have a reasonable expectation that the company will continue in operational existence and thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Page 4

 
LANCE MORTGAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
LANCE MORTGAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.


 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

Page 6

 
LANCE MORTGAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.12

Financial liabilities

Financial liabilities and equity are classified according to the substance of the financial instrument's contractual obligations, rather than the financial instrument's legal form.

Financial liabilities within the scope of IAS 39 are initially classified as financial liabilities at fair value through profit or loss, loans and borrowings, or as derivatives designated as hedging instruments in an effective hedge, as appropriate.
The Group determines the classification of its financial liabilities at initial recognition. All financial liabilities are recognised initially at fair value and in the case of loans and borrowings, plus directly attributable transaction costs.
Subsequently, the measurement of financial liabilities depends on their classification as follows:

Derecognition of financial liabilities

A liability is derecognised when the contract that gives rise to it is settled, sold, cancelled or expires.
Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such as an exchange or modification, this is treated as a derecognition of the original liability, such that the difference in the respective carrying amounts together with any costs or fees incurred are recognised in profit or loss.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).


4.


Debtors

2024
2023
£
£


Trade debtors
24,553
6,864

Other debtors
3,000
3,247

Prepayments and accrued income
541
540

28,094
10,651


Page 7

 
LANCE MORTGAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
53,647
12,300

53,647
12,300



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
2,702
293

Amounts owed to group undertakings
7
-

Corporation tax
21,281
4,184

Other taxation and social security
4,699
4,456

Other creditors
989
796

29,678
9,729



7.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £2,955 (2023: £1,277). Contributions totalling £794 (2023: £796) were payable to the fund at the reporting date and are included in creditors.


8.


Audit exemption

The company is exempt from the requirement to have its financial statements audited under section 479A of the Companies Act 2006, as it is a subsidiary undertaking for which its parent undertaking, Lance Consolidation Limited, has given a guarantee under section 479C of the Companies Act 2006 in respect of all outstanding liabilities at the end of the financial year.

 
Page 8