Company registration number 03193339 (England and Wales)
LANEND LIMITED
Annual report and financial statements
For the year ended 31 August 2024
LANEND LIMITED
COMPANY INFORMATION
Director
Mrs J B Burgess OBE
Secretary
Mrs J B Burgess OBE
Company number
03193339
Registered office
Station Road
Motspur Park
New Malden
KT3 6JJ
Auditor
WSM Advisors Limited
Connect House
133-137 Alexandra Road
Wimbledon
London
SW19 7JY
LANEND LIMITED
CONTENTS
Page
Strategic report
1 - 2
Director's report
3 - 4
Director's responsibilities statement
5
Independent auditor's report
6 - 9
Profit and loss account
10
Group statement of comprehensive income
11
Group balance sheet
12
Company balance sheet
13
Group statement of changes in equity
14
Company statement of changes in equity
15
Group statement of cash flows
16
Company statement of cash flows
17
Notes to the financial statements
18 - 35
LANEND LIMITED
STRATEGIC REPORT
For the year ended 31 August 2024
- 1 -

The director presents the strategic report for the year ended 31 August 2024.

Review of the business

We aim to present a balanced and comprehensive review of the performance of the business during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our business and is written in the context of the risks and global economic and political uncertainties.

 

Principal operations

The principal activities of the Company are the development of building projects through its subsidiary Planetree Developments Limited and through its subsidiary Blossom House School Limited to maintain and develop centres of excellence which provide children with speech, language and communication difficulties to gain an outstanding education. The aim is to provide accessible locations around London so that all children requiring Blossom’s first class facilities are able to benefit. The school is developing its third location in Wimbledon after the ongoing success of its second location in Euston building on the strengths established at Motspur Park. In addition to this the school has recently purchased a small farm where a group of children with more complex learning and communication needs can follow a more functional curriculum which will support their independence as they move through their secondary schooling. The Company provides a centre of training excellence for new and prospective staff working in the sector. The school has developed a robust PGCE training programme which ensures good teaching staff retention. We have also introduced our own Behaviour Management course accredited by City and Guilds for Teaching Assistants.

 

Business review

The financial key performance indicators, for its subsidiary Blossom House School Limited, which best demonstrate the strength of the company as a whole were as follows:-

2024          2023

Turnover                  £15,434,211        £14,412,695

EBITDA (see note below)        £88,227            £127,974    

 

For Planetree Developments the key financial performance indicators were as follows:-

                2024            2023

Turnover                 £nil        £3,375,000

EBITDA (see note below)        (£4,593)            (£14,457)    

 

 

Note: EBITDA represents earnings before interest, tax, depreciation, amortisiation and exceptional items.

 

Despite the increase in turnover the need to increase staff salaries to remain competitive in the market place with both the state education system and the NHS has resulted in a restricted level of profitability in the year.

 

The decrease in the earnings of Planetree Developments Ltd is due to the final house of the Blossom Square project being sold during the year. The company will be wound down during the coming year.

 

 

LANEND LIMITED
STRATEGIC REPORT (CONTINUED)
For the year ended 31 August 2024
- 2 -
Principal risks and uncertainties

As an education provider, the Company’s main subsidiary, Blossom House School Limited, is registered and approved by the Department for Education (DfE) and is subject to inspection and report by Ofsted. The three schools were inspected at the year end and were again rated as Outstanding. The Company regularly updates its policies and procedures to ensure compliance with required standards.

 

The directors consider that there is significant long term demand for the Company’s services restricted only by any potential changes in legislation on the funding by local authorities for Special Educational Needs of which none is currently forecast. Due to the nature of the market the directors do not believe the Company is exposed to significant movements in the market prices of its services.

 

The Company’s principal financial instruments comprise cash, trade debtors and creditors and certain other debtors and creditors. Credit risk arises principally on third party derived revenues, company policy is aimed to minimise such risk and collection of debts is actively managed to ensure that payments are received in a timely manner. The vast majority, over 95%, of the Company’s customers are Local Authorities who have a good payment history.

 

The Company has some variable interest rate borrowings so there is some limited exposure to increased interest rate costs but its is not considered significant. As previously explained in the business review exceptionally high levels of inflation do expose the Company to the risk of costs increasing faster than the Company is able to increase its fees however this will balance out over time as the fee increases catch up with cost increases.

 

The Company works hard on staff retention and levels of senior staff turnover are historically low. The Company does carry our regular staff surveys and offers a number of non contractual staff benefits.

 

Development and performance

The group's turnover decreased as compared to last year.This fall was due to the completion of the project of one of the subsidiary entities.

 

However, the group's position at the end of the year remained strong as indicated in the group balance sheet.

On behalf of the board

Mrs J B Burgess OBE
Director
27 August 2025
LANEND LIMITED
DIRECTOR'S REPORT
For the year ended 31 August 2024
- 3 -

The director presents her annual report and financial statements for the year ended 31 August 2024.

Principal activities

The principal activity of the company and group continued to be that of property development.

Results and dividends

The results for the year are set out on page 10.

No ordinary dividends were paid. The director does not recommend payment of a further dividend.

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

Mrs J B Burgess OBE
Disabled persons

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the group continues and that the appropriate training is arranged. It is the policy of the group that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.

Employee involvement

The group's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests.

 

Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the group's performance.

 

There is no employee share scheme at present, but the directors are considering the introduction of such a scheme as a means of further encouraging the involvement of employees in the company's performance.

Auditor

WSM Advisors Limited were appointed as auditor to the group and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.

Energy and carbon report

As the group has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

LANEND LIMITED
DIRECTOR'S REPORT (CONTINUED)
For the year ended 31 August 2024
- 4 -
On behalf of the board
Mrs J B Burgess OBE
Director
27 August 2025
LANEND LIMITED
DIRECTOR'S RESPONSIBILITIES STATEMENT
For the year ended 31 August 2024
- 5 -

The director is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

 

 

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

LANEND LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF LANEND LIMITED
- 6 -
Opinion

We have audited the financial statements of Lanend Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2024 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

 

The impact of macro-economic uncertainties on our audit

 

Our audit of the financial statements requires us to obtain an understanding of all relevant uncertainties, including those arising as a consequence of the effects of macro-economic uncertainties. All audits assess and challenge the reasonableness of estimates made by the trustees and the related disclosures and the appropriateness of the going concern basis of preparation of the financial statements. All of these depend on assessments of the future economic environment and the company's future prospects and performance.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

LANEND LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF LANEND LIMITED
- 7 -

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the director's report.

 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

 

Responsibilities of director

As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the parent company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line

with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

LANEND LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF LANEND LIMITED
- 8 -

The extent to which the audit was considered capable of detecting irregularities including fraud

 

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

 

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

 

To address the risk of fraud through management bias and override of controls, we:

 

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less like we are to become aware of it.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

LANEND LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF LANEND LIMITED
- 9 -

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Wendy Patterson (Senior Statutory Auditor)
For and on behalf of WSM Advisors Limited
27 August 2025
Chartered Accountants
Statutory Auditor
Connect House
133-137 Alexandra Road
Wimbledon
London
SW19 7JY
LANEND LIMITED
GROUP PROFIT AND LOSS ACCOUNT
For the year ended 31 August 2024
- 10 -
2024
2023
Notes
£
£
Turnover
3
15,479,942
17,806,793
Cost of sales
(54,762)
(3,426,784)
Gross profit
15,425,180
14,380,009
Administrative expenses
(16,251,814)
(15,132,430)
Other operating income
43,157
68,117
Operating loss
4
(783,477)
(684,304)
Interest receivable and similar income
7
54,003
14,784
Interest payable and similar expenses
8
(83,143)
(82,978)
Loss before taxation
(812,617)
(752,498)
Tax on loss
9
133,595
106,126
Loss for the financial year
(679,022)
(646,372)
Loss for the financial year is attributable to:
- Owners of the parent company
(580,522)
(438,892)
- Non-controlling interests
(98,500)
(207,480)
(679,022)
(646,372)
LANEND LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
For the year ended 31 August 2024
- 11 -
2024
2023
£
£
Loss for the year
(679,022)
(646,372)
Other comprehensive income
-
-
Cash flow hedges gain arising in the year
-
0
-
0
Total comprehensive income for the year
(679,022)
(646,372)
Total comprehensive income for the year is attributable to:
- Owners of the parent company
(580,522)
(438,892)
- Non-controlling interests
(98,500)
(207,480)
(679,022)
(646,372)
LANEND LIMITED
GROUP BALANCE SHEET
As at 31 August 2024
- 12 -
2024
2023
Notes
£
£
£
£
Fixed assets
Goodwill
11
-
0
126,525
Tangible assets
12
5,878,338
6,358,818
5,878,338
6,485,343
Current assets
Stocks
15
1,321,006
1,298,454
Debtors
16
2,186,667
1,785,811
Cash at bank and in hand
2,030,938
2,641,066
5,538,611
5,725,331
Creditors: amounts falling due within one year
17
(5,643,473)
(5,535,348)
Net current (liabilities)/assets
(104,862)
189,983
Total assets less current liabilities
5,773,476
6,675,326
Creditors: amounts falling due after more than one year
18
(859,830)
(1,016,026)
Provisions for liabilities
Deferred tax liability
22
818,003
884,635
(818,003)
(884,635)
Net assets
4,095,643
4,774,665
Capital and reserves
Called up share capital
24
80,000
80,000
Capital redemption reserve
20,000
20,000
Profit and loss reserves
4,466,768
5,047,290
Equity attributable to owners of the parent company
4,566,768
5,147,290
Non-controlling interests
(471,125)
(372,625)
Total equity
4,095,643
4,774,665
The financial statements were approved and signed by the director and authorised for issue on 27 August 2025
27 August 2025
Mrs J B Burgess OBE
Director
Company registration number 03193339 (England and Wales)
LANEND LIMITED
COMPANY BALANCE SHEET
As at 31 August 2024
31 August 2024
- 13 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
13
1,500,001
1,500,001
1,500,001
1,500,001
Current assets
Stocks
15
1,321,006
1,298,454
Debtors
16
2,142,178
2,817,786
Cash at bank and in hand
531,915
379,788
3,995,099
4,496,028
Creditors: amounts falling due within one year
17
(46,535)
(39,237)
Net current assets
3,948,564
4,456,791
Net assets
5,448,565
5,956,792
Capital and reserves
Called up share capital
24
80,000
80,000
Capital redemption reserve
20,000
20,000
Profit and loss reserves
5,348,565
5,856,792
Total equity
5,448,565
5,956,792

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s loss for the year was £508,226 (2023 - £43,683 loss).

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

The financial statements were approved and signed by the director and authorised for issue on 27 August 2025
27 August 2025
Mrs J B Burgess OBE
Director
Company registration number 03193339 (England and Wales)
LANEND LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
For the year ended 31 August 2024
- 14 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total controlling interest
Non-controlling interest
Total
£
£
£
£
£
£
Balance at 1 September 2022
80,000
20,000
5,486,182
5,586,182
(165,145)
5,421,037
Year ended 31 August 2023:
Loss and total comprehensive income
-
-
(438,892)
(438,892)
(207,480)
(646,372)
Balance at 31 August 2023
80,000
20,000
5,047,290
5,147,290
(372,625)
4,774,665
Year ended 31 August 2024:
Loss and total comprehensive income
-
-
(580,522)
(580,522)
(98,500)
(679,022)
Balance at 31 August 2024
80,000
20,000
4,466,768
4,566,768
(471,125)
4,095,643
LANEND LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
For the year ended 31 August 2024
- 15 -
Share capital
Capital redemption reserve
Profit and loss reserves
Total
£
£
£
£
Balance at 1 September 2022
80,000
20,000
5,900,475
6,000,475
Year ended 31 August 2023:
Loss and total comprehensive income for the year
-
-
(43,683)
(43,683)
Balance at 31 August 2023
80,000
20,000
5,856,792
5,956,792
Year ended 31 August 2024:
Loss and total comprehensive income for the year
-
-
(508,227)
(508,227)
Balance at 31 August 2024
80,000
20,000
5,348,565
5,448,565
LANEND LIMITED
GROUP STATEMENT OF CASH FLOWS
For the year ended 31 August 2024
- 16 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
28
(135,749)
2,744,865
Interest paid
(83,143)
(82,978)
Income taxes refunded/(paid)
60,523
(75,315)
Net cash (outflow)/inflow from operating activities
(158,369)
2,586,572
Investing activities
Purchase of tangible fixed assets
(193,754)
(182,100)
Repayment of loans
(194,096)
(14,780)
Interest received
54,003
14,784
Net cash used in investing activities
(333,847)
(182,096)
Financing activities
Repayment of bank loans
(145,348)
(142,210)
Receipt / (Payment) of finance leases obligations
27,436
(6,141)
Net cash used in financing activities
(117,912)
(148,351)
Net (decrease)/increase in cash and cash equivalents
(610,128)
2,256,125
Cash and cash equivalents at beginning of year
2,641,066
384,941
Cash and cash equivalents at end of year
2,030,938
2,641,066
LANEND LIMITED
COMPANY STATEMENT OF CASH FLOWS
For the year ended 31 August 2024
- 17 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
29
142,917
336,783
Interest paid
-
0
(504)
Income taxes paid
-
0
(57,038)
Net cash inflow from operating activities
142,917
279,241
Investing activities
(Advancement)/repayment arising from loans made
(14,769)
(13,574)
Interest received
23,979
13,578
Net cash generated from investing activities
9,210
4
Net increase in cash and cash equivalents
152,127
279,245
Cash and cash equivalents at beginning of year
379,788
100,543
Cash and cash equivalents at end of year
531,915
379,788
LANEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 August 2024
- 18 -
1
Accounting policies
Company information

Lanend Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Station Road, Motspur Park, New Malden, KT3 6JJ.

 

The group consists of Lanend Limited and all of its subsidiaries.

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.

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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Basis of consolidation

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

 

Guarantee from Lanend Limited to Planetree Developments Limited

Planetree Developments Limited has taken the exemption from an audit for the year ended 31 August 2024 under section 479A of Companies Act 2006 which is available as Lanend Limited has given a statutory guarantee, in line with s479C of Companies Act 2006, of all the outstanding liabilities as at 31 August 2024 of Planetree Developments Limited.

The consolidated financial statements incorporate those of Lanend Limited and all of its subsidiaries.

 

All financial statements are made up to 31 August 2024.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation.

1.3
Going concern

At the time of approving the financial statements, the director has undertaken an assessment of the adequacy of the resources available to the company. The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

LANEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 August 2024
1
Accounting policies
(Continued)
- 19 -
1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.5
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 5 years.

1.6
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:

Freehold land and buildings
2.5% per annum on a straight line basis
Leasehold land and buildings
4% per annum on a straight line basis
Leasehold improvements
4% to 20% per annum on a straight line basis
Plant and equipment
10% to 33% per annum on a straight line basis
Fixtures and fittings
10% to 33% per annum on a straight line basis
Motor vehicles
25% per annum on a straight line basis

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 recognised in the profit and loss account.

1.7
Fixed asset investments

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

LANEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 August 2024
1
Accounting policies
(Continued)
- 20 -
1.9
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.10
Cash and cash equivalents

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.

1.11
Financial instruments

The group 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 group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

LANEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 August 2024
1
Accounting policies
(Continued)
- 21 -
Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

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.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

 

Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as being measured at fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.12
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.13
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

LANEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 August 2024
1
Accounting policies
(Continued)
- 22 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.14
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.15
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.16
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

LANEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 August 2024
1
Accounting policies
(Continued)
- 23 -
1.17
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.18
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
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Turnover and other revenue
2024
2023
£
£
Turnover analysed by class of business
School fee income
15,434,211
14,412,695
Cafe income
45,731
19,098
Sale of goods
-
3,375,000
15,479,942
17,806,793
2024
2023
£
£
Turnover analysed by geographical market
UK
15,479,942
17,806,793
2024
2023
£
£
Other revenue
Interest income
54,003
14,784
Grants received
33,147
54,797
LANEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 August 2024
- 24 -
4
Operating loss
2024
2023
£
£
Operating loss for the year is stated after charging/(crediting):
Exchange differences apart from those arising on financial instruments measured at fair value through profit or loss
114
-
Government grants
(33,147)
(54,797)
Depreciation of owned tangible fixed assets
602,997
623,166
Impairment of owned tangible fixed assets
71,237
-
Amortisation of intangible assets
42,175
127,165
Impairment of intangible assets
84,350
-
0
Operating lease charges
1,354,320
1,369,908
5
Auditor's remuneration
2024
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
11,750
11,200
Audit of the financial statements of the company's subsidiaries
15,960
18,975
27,710
30,175
6
Employees

The average monthly number of persons (including directors) employed by the group and company during the year was:

Group
Company
2024
2023
2024
2023
Number
Number
Number
Number
Full-time staff
192
182
1
-
Part-time staff
137
132
-
-
Total
329
314
1
0
LANEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 August 2024
6
Employees
(Continued)
- 25 -

Their aggregate remuneration comprised:

Group
Company
2024
2023
2024
2023
£
£
£
£
Wages and salaries
10,177,541
9,210,407
10,822
-
0
Social security costs
1,007,680
913,671
238
-
Pension costs
385,404
348,642
347
-
0
11,570,625
10,472,720
11,407
-
0
7
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
35,907
4
Other interest income
18,096
14,780
Total income
54,003
14,784
2024
2023
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
35,907
4
8
Interest payable and similar expenses
2024
2023
£
£
Interest on financial liabilities measured at amortised cost:
Interest on bank overdrafts and loans
80,337
81,706
Other finance costs:
Interest on finance leases and hire purchase contracts
2,806
768
Other interest
-
504
Total finance costs
83,143
82,978
9
Taxation
2024
2023
£
£
Deferred tax
Origination and reversal of timing differences
(133,595)
(106,126)
LANEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 August 2024
9
Taxation
(Continued)
- 26 -

The actual credit for the year can be reconciled to the expected credit for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Loss before taxation
(812,617)
(752,498)
Expected tax credit based on the standard rate of corporation tax in the UK of 25.00% (2023: 25.00%)
(203,154)
(188,125)
Tax effect of expenses that are not deductible in determining taxable profit
58,837
65,838
Tax effect of income not taxable in determining taxable profit
-
0
(3,268)
Tax effect of utilisation of tax losses not previously recognised
-
0
70,823
Unutilised tax losses carried forward
11,007
21,412
Permanent capital allowances in excess of depreciation
72,343
(6,055)
Utilisation of tax loses
(6,827)
-
0
Other timing issues
832
302
Deferred tax losses carried forward
(66,633)
(67,053)
Taxation credit
(133,595)
(106,126)
10
Impairments

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:

2024
2023
Notes
£
£
In respect of:
Goodwill
11
84,350
-
Property, plant and equipment
12
71,237
-
Recognised in:
Administrative expenses
155,587
-

The impairment losses in respect of financial assets are recognised in other gains and losses in the profit and loss account.

LANEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 August 2024
- 27 -
11
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
956,865
Amortisation and impairment
At 1 September 2023
830,340
Amortisation charged for the year
42,175
Impairment losses
84,350
At 31 August 2024
956,865
Carrying amount
At 31 August 2024
-
0
At 31 August 2023
126,525
Company
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
17,500
Amortisation and impairment
At 1 September 2023 and 31 August 2024
17,500
Carrying amount
At 31 August 2024
-
0
At 31 August 2023
-
0

More information on impairment movements in the year is given in note 10.

LANEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 August 2024
- 28 -
12
Tangible fixed assets
Group
Freehold land and buildings
Leasehold land and buildings
Leasehold improvements
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
£
£
Cost
At 1 September 2023
1,277,286
7,415,463
30,263
1,962
1,835,286
152,503
10,712,763
Additions
-
0
4,126
-
0
-
0
153,634
35,994
193,754
At 31 August 2024
1,277,286
7,419,589
30,263
1,962
1,988,920
188,497
10,906,517
Depreciation and impairment
At 1 September 2023
103,521
2,616,685
30,263
1,962
1,484,284
117,230
4,353,945
Depreciation charged in the year
31,327
361,425
-
0
-
0
187,076
23,169
602,997
Impairment losses
71,237
-
0
-
0
-
0
-
0
-
0
71,237
At 31 August 2024
206,085
2,978,110
30,263
1,962
1,671,360
140,399
5,028,179
Carrying amount
At 31 August 2024
1,071,201
4,441,479
-
0
-
0
317,560
48,098
5,878,338
At 31 August 2023
1,173,765
4,798,778
-
0
-
0
351,002
35,273
6,358,818
LANEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 August 2024
- 29 -
Company
Leasehold improvements
Plant and equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 September 2023 and 31 August 2024
30,263
1,962
17,377
49,602
Depreciation and impairment
At 1 September 2023 and 31 August 2024
30,263
1,962
17,377
49,602
Carrying amount
At 31 August 2024
-
0
-
0
-
0
-
0

More information on impairment movements in the year is given in note 10.

13
Fixed asset investments
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Investments in subsidiaries
14
-
0
-
0
1,500,001
1,500,001
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 September 2023 and 31 August 2024
1,500,001
Carrying amount
At 31 August 2024
1,500,001
At 31 August 2023
1,500,001
14
Subsidiaries

Details of the company's subsidiaries at 31 August 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Blossom House School Ltd
Station Road, Motspur Park, New Malden. KT3 6JJ
Ordinary shares
55.00
Planetree Developments Ltd
Station Road, Motspur Park, New Malden. KT3 6JJ
Ordinary Shares
100.00
LANEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 August 2024
- 30 -
15
Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Work in progress
1,321,006
1,298,454
1,321,006
1,298,454
16
Debtors
Group
Company
2024
2023
2024
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
174,921
94,828
512
2,251
Corporation tax recoverable
218,687
213,702
218,687
213,702
Other debtors
996,546
773,726
672,980
656,747
Prepayments and accrued income
245,253
219,008
-
0
-
0
1,635,407
1,301,264
892,179
872,700
Amounts falling due after more than one year:
Amounts owed by group undertakings
-
-
1,249,999
1,945,086
Other debtors
54,600
54,850
-
0
-
0
54,600
54,850
1,249,999
1,945,086
Deferred Taxation
496,660
429,697
-
0
-
0
551,260
484,547
1,249,999
1,945,086
Total debtors
2,186,667
1,785,811
2,142,178
2,817,786
LANEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 August 2024
- 31 -
17
Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans
19
140,046
129,198
-
0
-
0
Obligations under finance leases
20
45,413
17,977
-
0
-
0
Payments received on account
2,380,900
2,386,591
-
0
-
0
Trade creditors
331,923
247,265
14,824
12,511
Corporation tax payable
70,496
4,988
9,566
4,581
Other taxation and social security
367,699
335,898
-
-
Other creditors
536,860
531,185
-
0
-
0
Accruals and deferred income
1,770,136
1,882,246
22,145
22,145
5,643,473
5,535,348
46,535
39,237
18
Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
Notes
£
£
£
£
Bank loans and overdrafts
19
859,830
1,016,026
-
0
-
0
19
Loans and overdrafts
Group
Company
2024
2023
2024
2023
£
£
£
£
Bank loans
999,876
1,145,224
-
0
-
0
Payable within one year
140,046
129,198
-
0
-
0
Payable after one year
859,830
1,016,026
-
0
-
0

The long-term loans are secured by fixed charges over their property and an unlimited debenture.

20
Finance lease obligations
Group
Company
2024
2023
2024
2023
£
£
£
£
Future minimum lease payments due under finance leases:
Within one year
11,772
6,205
-
0
-
0
In two to five years
33,641
11,772
-
0
-
0
45,413
17,977
-
-
LANEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 August 2024
20
Finance lease obligations
(Continued)
- 32 -

Finance lease payments represent rentals payable by the company or group for vehicles. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 5 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

21
Contingent liabilities

The company has given a guarantee to Lloyds Bank PLC in respect of bank borrowings in the entity, which amounted to £500,000 as at 8 May 2006. The guarantee is secured by an unlimited debenture incorporating a fixed and floating charge over the undertaking and all property and assets present and future of whatever type and wherever located.

 

The company has given a guarantee to The Charity Bank Limited in respect of bank borrowings in the entity, which amounted to £542,750 as at 23 December 2020. The guarantee is secured by a fixed charge by way of first mortgage, on the freehold property held in the subsidiary, IN5 Estate Limited, and by a first fixed charge on the charity's tangible fixed assets and a first floating charge of all present and future undertaking and assets of whatever type and wherever located.

 

The company has given a guarantee to Big Issue Invest Limited in respect of bank borrowings in the entity, which amounted to £150,000 as at 23 December 2020. The guarantee is secured by a fixed charge by way of second mortgage, on the freehold property held in the subsidiary, IN5 Estate Limited, and second fixed charge on all other land; insurances; goodwill; and uncalled capital for the time being and a floating charge of all present and future undertaking and assets of whatever type and wherever located.

22
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
Assets
Assets
2024
2023
2024
2023
Group
£
£
£
£
Accelerated capital allowances
818,003
884,635
-
-
Tax losses
-
-
496,660
429,697
818,003
884,635
496,660
429,697
The company has no deferred tax assets or liabilities.
Group
Company
2024
2024
Movements in the year:
£
£
Liability at 1 September 2023
454,938
-
Credit to profit or loss
(133,595)
-
Liability at 31 August 2024
321,343
-
LANEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 August 2024
22
Deferred taxation
(Continued)
- 33 -

The deferred tax asset set out above is expected to reverse over the next few years according to projections, and relates to the utilisation of tax losses against future expected profits of the same period. £106,967 of the deferred tax liability set out above is expected to reverse within 12 months and relates to accelerated capital allowances that are expected to mature within the same period.

23
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
385,404
348,642

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

24
Share capital
Group and company
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
25
Operating lease commitments
Lessee

Operating lease payments represent rentals payable by the company for certain of its properties. The group's operating lease commitments at the year end totalled £15,701,139 (2023: £16,977,249).

26
Related party transactions

The following amounts were outstanding at the reporting end date:

As at 31 August 2024, Planetree Developments Limited, a wholly owned subsidiary of Lanend Limited, owed the company £1,249,999 (2023: £1,449,999). The amount is repayable on demand and is interest free.

 

As at 31 August 2024, Blossom House School Limited, a subsidiary of Lanend Limited, owed the company £nil (2023: £495,086). The amount is repayable on demand and is interest free.

 

As at 31 August 2024, a director of Lanend Limited, owed the company and its subsidiaries £909,148 (2023: £715,052). The amount is unsecured and repayable on demand.

The following amounts were recognised as an expense in the period in respect of a waiver of loan due from a related parties:

2024
2023
£
£
Group
Entities over which the group has control, joint control or significant influence
478,785
-
LANEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 August 2024
- 34 -
27
Post Balance sheet events

Post year end the company purchased a new property at Stanley Hill Grange, Pirbright Surrey. The total cost of the purchase was £3,496,889. This was financed by way of a:

 

- an amendment to an original loan for an additional £1,325,000 at a variable interest rate of 2.85% above the Bank of England base rate. The loan was repayable over a 15 year period and is due to be fully repaid by 2035;

 

- a deferred consideration with the vendor of £250,000 at a fixed interest rate of 8%. The loan is repayable over a 5 year period and is due to be fully repaid by 2030;

 

- the remainder of the purchase was financed by internal group resources.

28
Cash (absorbed by)/generated from group operations
2024
2023
£
£
Loss for the year after tax
(679,022)
(646,372)
Adjustments for:
Taxation credited
(133,595)
(106,126)
Finance costs
83,143
82,978
Investment income
(54,003)
(14,784)
Amortisation and impairment of intangible assets
126,525
127,165
Depreciation and impairment of tangible fixed assets
674,234
623,166
Movements in working capital:
(Increase)/decrease in stocks
(22,552)
3,188,765
Increase in debtors
(134,812)
(29,495)
Increase/(decrease) in creditors
4,333
(480,432)
Cash (absorbed by)/generated from operations
(135,749)
2,744,865
LANEND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 31 August 2024
- 35 -
29
Cash generated from operations - company
2024
2023
£
£
Loss for the year after tax
(508,227)
(43,683)
Adjustments for:
Finance costs
-
0
504
Investment income
(23,979)
(13,578)
Waiver of loan
478,785
-
Movements in working capital:
Increase in stocks
(22,552)
-
Decrease in debtors
216,577
1,237,623
Increase/(decrease) in creditors
2,313
(844,083)
Cash generated from operations
142,917
336,783
30
Analysis of changes in net funds - group
1 September 2023
Cash flows
31 August 2024
£
£
£
Cash at bank and in hand
2,641,066
(610,128)
2,030,938
Borrowings excluding overdrafts
(1,145,224)
145,348
(999,876)
Obligations under finance leases
(17,977)
(27,436)
(45,413)
1,477,865
(492,216)
985,649
31
Analysis of changes in net funds - company
1 September 2023
Cash flows
31 August 2024
£
£
£
Cash at bank and in hand
379,788
152,127
531,915
2024-08-312023-09-01falsefalseCCH SoftwareCCH Accounts Production 2025.200Mrs J B Burgess OBEMrs J B Burgess OBEfalse03193339bus:Consolidated2023-09-012024-08-31031933392023-09-012024-08-3103193339bus:CompanySecretaryDirector12023-09-012024-08-3103193339bus:CompanySecretary12023-09-012024-08-3103193339bus:Director12023-09-012024-08-3103193339bus:RegisteredOffice2023-09-012024-08-3103193339bus:Consolidated2024-08-31031933392024-08-3103193339bus:Consolidated2022-09-012023-08-31031933392022-09-012023-08-3103193339core:Goodwillbus:Consolidated2024-08-3103193339core:Goodwillbus:Consolidated2023-08-3103193339core:Goodwill2024-08-3103193339core:Goodwill2023-08-3103193339bus:Consolidated2023-08-3103193339core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2024-08-3103193339core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2024-08-3103193339core:LeaseholdImprovementsbus:Consolidated2024-08-3103193339core:PlantMachinerybus:Consolidated2024-08-3103193339core:FurnitureFittingsbus:Consolidated2024-08-3103193339core:MotorVehiclesbus:Consolidated2024-08-3103193339core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-08-3103193339core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2023-08-3103193339core:LeaseholdImprovementsbus:Consolidated2023-08-3103193339core:PlantMachinerybus:Consolidated2023-08-3103193339core:FurnitureFittingsbus:Consolidated2023-08-3103193339core:MotorVehiclesbus:Consolidated2023-08-3103193339core:LeaseholdImprovements2024-08-3103193339core:PlantMachinery2024-08-3103193339core:MotorVehicles2024-08-31031933392023-08-3103193339core:ShareCapitalbus:Consolidated2024-08-3103193339core:ShareCapitalbus:Consolidated2023-08-3103193339core:CapitalRedemptionReservebus:Consolidated2024-08-3103193339core:CapitalRedemptionReservebus:Consolidated2023-08-3103193339core:Non-controllingInterestsbus:Consolidated2024-08-3103193339core:Non-controllingInterestsbus:Consolidated2023-08-3103193339core:ShareCapital2024-08-3103193339core:ShareCapital2023-08-3103193339core:CapitalRedemptionReserve2024-08-3103193339core:CapitalRedemptionReserve2023-08-3103193339core:RetainedEarningsAccumulatedLosses2024-08-3103193339core:RetainedEarningsAccumulatedLosses2023-08-3103193339core:ShareCapitalbus:Consolidated2022-08-3103193339core:CapitalRedemptionReservebus:Consolidated2022-08-31031933392022-08-3103193339core:RetainedEarningsAccumulatedLossesbus:Consolidated2023-08-3103193339core:RetainedEarningsAccumulatedLossesbus:Consolidated2024-08-3103193339core:ShareCapital2022-08-3103193339core:CapitalRedemptionReserve2022-08-3103193339core:RetainedEarningsAccumulatedLosses2022-08-3103193339bus:Consolidated2022-08-3103193339core:Goodwill2023-09-012024-08-3103193339core:LandBuildingscore:OwnedOrFreeholdAssets2023-09-012024-08-3103193339core:LandBuildingscore:LongLeaseholdAssets2023-09-012024-08-3103193339core:LeaseholdImprovements2023-09-012024-08-3103193339core:PlantMachinery2023-09-012024-08-3103193339core:FurnitureFittings2023-09-012024-08-3103193339core:MotorVehicles2023-09-012024-08-3103193339bus:Consolidated12023-09-012024-08-3103193339bus:Consolidated12022-09-012023-08-3103193339bus:Consolidated22023-09-012024-08-3103193339bus:Consolidated22022-09-012023-08-3103193339bus:Consolidated32023-09-012024-08-3103193339bus:Consolidated32022-09-012023-08-3103193339core:Goodwillbus:Consolidated2023-08-3103193339core:Goodwill2023-08-3103193339core:Goodwillbus:Consolidated2023-09-012024-08-3103193339core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-08-3103193339core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2023-08-3103193339core:LeaseholdImprovementsbus:Consolidated2023-08-3103193339core:PlantMachinerybus:Consolidated2023-08-3103193339core:FurnitureFittingsbus:Consolidated2023-08-3103193339core:MotorVehiclesbus:Consolidated2023-08-3103193339bus:Consolidated2023-08-3103193339core:LeaseholdImprovements2023-08-3103193339core:PlantMachinery2023-08-3103193339core:MotorVehicles2023-08-31031933392023-08-3103193339core:LandBuildingscore:OwnedOrFreeholdAssetsbus:Consolidated2023-09-012024-08-3103193339core:LandBuildingscore:LeasedAssetsHeldAsLesseebus:Consolidated2023-09-012024-08-3103193339core:LeaseholdImprovementsbus:Consolidated2023-09-012024-08-3103193339core:PlantMachinerybus:Consolidated2023-09-012024-08-3103193339core:FurnitureFittingsbus:Consolidated2023-09-012024-08-3103193339core:MotorVehiclesbus:Consolidated2023-09-012024-08-3103193339core:Subsidiary12023-09-012024-08-3103193339core:Subsidiary22023-09-012024-08-3103193339core:Subsidiary112023-09-012024-08-3103193339core:Subsidiary222023-09-012024-08-3103193339core:CurrentFinancialInstruments2024-08-3103193339core:CurrentFinancialInstruments2023-08-3103193339core:Non-currentFinancialInstrumentsbus:Consolidated2024-08-3103193339core:Non-currentFinancialInstrumentsbus:Consolidated2023-08-3103193339core:Non-currentFinancialInstruments2024-08-3103193339core:Non-currentFinancialInstruments2023-08-3103193339core:CurrentFinancialInstrumentsbus:Consolidated2024-08-3103193339core:CurrentFinancialInstrumentsbus:Consolidated2023-08-3103193339core:WithinOneYearbus:Consolidated2024-08-3103193339core:WithinOneYearbus:Consolidated2023-08-3103193339core:CurrentFinancialInstrumentscore:WithinOneYear2024-08-3103193339core:CurrentFinancialInstrumentscore:WithinOneYear2023-08-3103193339core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2024-08-3103193339core:Non-currentFinancialInstrumentscore:AfterOneYearbus:Consolidated2023-08-3103193339core:Non-currentFinancialInstrumentscore:AfterOneYear2024-08-3103193339core:Non-currentFinancialInstrumentscore:AfterOneYear2023-08-3103193339core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2024-08-3103193339core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2023-08-3103193339core:WithinOneYear2024-08-3103193339core:WithinOneYear2023-08-3103193339core:BetweenTwoFiveYearsbus:Consolidated2024-08-3103193339core:BetweenTwoFiveYearsbus:Consolidated2023-08-3103193339core:BetweenTwoFiveYears2024-08-3103193339core:BetweenTwoFiveYears2023-08-3103193339bus:PrivateLimitedCompanyLtd2023-09-012024-08-3103193339bus:FRS1022023-09-012024-08-3103193339bus:Audited2023-09-012024-08-3103193339bus:ConsolidatedGroupCompanyAccounts2023-09-012024-08-3103193339bus:FullAccounts2023-09-012024-08-31xbrli:purexbrli:sharesiso4217:GBP