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COMPANY REGISTRATION NUMBER: 01526920
Lambdrake Limited
Filleted Unaudited Financial Statements
30 April 2025
Lambdrake Limited
Statement of Financial Position
30 April 2025
2025
2024
Note
£
£
£
Fixed assets
Tangible assets
5
1,825,230
1,803,058
Current assets
Debtors
6
9,112
3,151
Cash at bank and in hand
456,559
531,426
---------
---------
465,671
534,577
Creditors: amounts falling due within one year
7
46,653
72,575
---------
---------
Net current assets
419,018
462,002
------------
------------
Total assets less current liabilities
2,244,248
2,265,060
Provisions
Taxation including deferred tax
298,398
292,012
------------
------------
Net assets
1,945,850
1,973,048
------------
------------
Capital and reserves
Called up share capital
51,100
51,100
Other reserves
889,652
889,652
Profit and loss account
1,005,098
1,032,296
------------
------------
Shareholders funds
1,945,850
1,973,048
------------
------------
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 income and retained earnings has not been delivered.
For the year ending 30 April 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Lambdrake Limited
Statement of Financial Position (continued)
30 April 2025
These financial statements were approved by the board of directors and authorised for issue on 6 August 2025 , and are signed on behalf of the board by:
Mr S G Brian
Director
Company registration number: 01526920
Lambdrake Limited
Notes to the Financial Statements
Year ended 30 April 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Gates Garage, Bridge Lane, Frodsham, WA6 7HN, Cheshire.
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
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances .
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
-
20% straight line
Bicycle
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Petrol tanks and pumps
-
over 15 years
The cost of land which was incorporated within freehold property was not depreciated.
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.
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. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Grants
Grants received in respect of capital expenditure are matched against the cost of the project. Revenue grants are taken to the profit and loss account when earned.
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.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of banks loans which are subsequently measured at amortised cost using the effective interest method.
Defined contribution plans
The pension costs charged against profits represent the amount of the contributions payable to the scheme in respect of the accounting period.
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.
Creditors
Short term trade 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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).
5. Tangible assets
Investment Property
Fixtures and fittings
Motor vehicles
Equipment
Petrol tanks and pumps
Total
£
£
£
£
£
£
Cost
At 1 May 2024
1,800,000
100,589
1,499
174,400
2,076,488
Additions
2,139
22,894
25,033
------------
---------
-------
--------
---------
------------
At 30 Apr 2025
1,800,000
102,728
1,499
22,894
174,400
2,101,521
------------
---------
-------
--------
---------
------------
Depreciation
At 1 May 2024
97,950
1,080
174,400
273,430
Charge for the year
848
105
1,908
2,861
------------
---------
-------
--------
---------
------------
At 30 Apr 2025
98,798
1,185
1,908
174,400
276,291
------------
---------
-------
--------
---------
------------
Carrying amount
At 30 Apr 2025
1,800,000
3,930
314
20,986
1,825,230
------------
---------
-------
--------
---------
------------
At 30 Apr 2024
1,800,000
2,639
419
1,803,058
------------
---------
-------
--------
---------
------------
Investment Property in the Balance Sheet is valued at fair value (being open market value) as at 30 April 2025 as determined by the Director of the company Mr S Brian.
6. Debtors
2025
2024
£
£
Trade debtors
9,112
3,151
-------
-------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
4,801
2,469
Corporation tax
3,171
31,755
Social security and other taxes
10,229
10,266
Other creditors
28,452
28,085
--------
--------
46,653
72,575
--------
--------
8. Transactions with directors
During the year the directors entered into the following advances and credits with the company:
2025
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr S G Brian
( 64,567)
64,567
----
--------
--------
----
2024
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr S G Brian
( 69,225)
69,225
----
--------
--------
----
During the year, the company incurred interest totalling £2,031 (2024 - £1,572) in connection with a loan made by Mr S G Brian . The interest charged at 3.5% over the HSBC Bank base rate was unpaid at the year end. The loan is unsecured and there are no scheduled terms of repayment. As the loan is repayable on demand it is included within creditors due within one year