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Registration number: 15726709

LORAND Holdings Ltd

Unaudited Filleted Financial Statements

for the Period from 17 May 2024 to 30 November 2024

 

LORAND Holdings Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

LORAND Holdings Ltd

Company Information

Directors

LJ Smith

AM Smith

Registered office

Moss Hall Carr Bank Road
Carr Bank
Milnthorpe
Cumbria
LA7 7LB

Accountants

Stables Thompson & Briscoe Limited
Chartered Accountants & Business AdvisersLowther House
Lowther Street
Kendal
Cumbria
LA9 4DX

 

LORAND Holdings Ltd

(Registration number: 15726709)
Balance Sheet as at 30 November 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

497,003

Investments

5

100

 

497,103

Current assets

 

Cash at bank and in hand

 

93,645

Creditors: Amounts falling due within one year

7

(76,733)

Net current assets

 

16,912

Total assets less current liabilities

 

514,015

Provisions for liabilities

(65,931)

Net assets

 

448,084

Capital and reserves

 

Called up share capital

8

150

Retained earnings

447,934

Shareholders' funds

 

448,084

For the financial period ending 30 November 2024 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 period 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 10 June 2025 and signed on its behalf by:
 

.........................................
AM Smith
Director

 

LORAND Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 17 May 2024 to 30 November 2024

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:
Moss Hall Carr Bank Road
Carr Bank
Milnthorpe
Cumbria
LA7 7LB

These financial statements were authorised for issue by the Board on 10 June 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.

Group accounts not prepared

The financial statements contain information about Lorand Holdings Ltd as an individual company and do not contain consolidated financial information as the parent of a group as the parent and the group qualify as small under s383 of the Companies Act 2006 and the parent and the group are considered eligible for the exemption as determined by reference to sections 384 and 399(2A) of the Companies Act 2006..

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.

 

LORAND Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 17 May 2024 to 30 November 2024

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.

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 balance sheet 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.

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:

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

LORAND Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 17 May 2024 to 30 November 2024

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 0.

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

Additions

233,280

176,204

99,752

509,236

At 30 November 2024

233,280

176,204

99,752

509,236

Depreciation

Charge for the period

-

6,414

5,819

12,233

At 30 November 2024

-

6,414

5,819

12,233

Carrying amount

At 30 November 2024

233,280

169,790

93,933

497,003

Included within the net book value of land and buildings above is £233,280 in respect of freehold land and buildings.
 

 

LORAND Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 17 May 2024 to 30 November 2024

5

Investments

2024
£

Investments in subsidiaries

100

Subsidiaries

£

Cost or valuation

Additions

100

Provision

Carrying amount

At 30 November 2024

100

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

Subsidiary undertakings

Lorand Limited

Moss Hall Carr Bank Road, Carr Bank, Milnthorpe, LA7 7LB

UK

Ordinary

100%

Andrew Smith Building Contractor Limited

Moss Hall Farm, Carr Bank Road Carr Bank, Milnthorpe, LA7 7LB

UK

Ordinary

100%

 

LORAND Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 17 May 2024 to 30 November 2024

Subsidiary undertakings

Lorand Limited

The principal activity of Lorand Limited is as a furnished holiday letting business. The profit for the financial period of Lorand Limited was £2,360 and the aggregate amount of capital and reserves at the end of the period was £7,266.

Andrew Smith Building Contractor Limited

The principal activity of Andrew Smith Building Contractor Limited is building and construction. The profit for the financial period of Andrew Smith Building Contractor Limited was £40,221 and the aggregate amount of capital and reserves at the end of the period was £111,382.

6

Debtors

Current

2024
£

 

-

 

LORAND Holdings Ltd

Notes to the Unaudited Financial Statements for the Period from 17 May 2024 to 30 November 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

Due within one year

 

Amounts owed to group undertakings and undertakings in which the company has a participating interest

10

10,033

Accruals and deferred income

 

750

Other creditors

 

65,950

 

76,733

8

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £1 each

150

150

   

9

Dividends

2024

£

Interim dividend of £440.00 per ordinary share

66,000

 

10

Related party transactions

Summary of transactions with subsidiaries

Andrew Smith Building Contractor Limited There was a group reorganisation in July 2024 where the fixed assets and land from Andrew Smith Building Contractor Limited were transferred to Lorand Holdings Ltd as the parent company by way of an in specie dividend of £504,545. Following the transfer Andrew Smith Building Contractor Limited has leased assets from the parent company for £25,435 in the year. The balance owed to Andrew Smith Building Contractor Limited at 30 November 2024 was £10,033.