Company Registration No. 07886965 (England and Wales)
Lodestone Projects Limited
Unaudited accounts
for the year ended 31 December 2024
Lodestone Projects Limited
Unaudited accounts
Contents
Lodestone Projects Limited
Company Information
for the year ended 31 December 2024
Directors
Matthew Stephen Ellis
R Hall
Company Number
07886965 (England and Wales)
Registered Office
30 WINDERMERE DRIVE
ALWOODLEY
LEEDS
WEST YORKSHIRE
LS17 7UZ
Accountants
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
Lodestone Projects Limited
Accountants' report
Accountants' report to the board of directors of Lodestone Projects Limited on the preparation of the unaudited statutory accounts 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 accounts of
Lodestone Projects Limited for the year ended
31 December 2024 as set out on pages
5 -
9 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Lodestone Projects Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Lodestone Projects Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lodestone Projects Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Lodestone Projects Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Lodestone Projects Limited. You consider that Lodestone Projects Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Lodestone Projects 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 accounts.
RAE Business Services (Yorkshire) Limited
First Floor
85 Great Portland Street
London
W1W 7LT
5 August 2025
Lodestone Projects Limited
Statement of financial position
as at 31 December 2024
Tangible assets
48,311
39,348
Investment property
3,988,677
2,203,686
Cash at bank and in hand
945,745
353,429
Creditors: amounts falling due within one year
(20,488)
(167,359)
Net current assets
1,678,428
763,559
Total assets less current liabilities
5,720,416
3,011,593
Creditors: amounts falling due after more than one year
(1,906,181)
(50,144)
Provisions for liabilities
Net assets
3,580,157
2,961,449
Called up share capital
100
100
Revaluation reserve
702,236
-
Profit and loss account
2,877,821
2,961,349
Shareholders' funds
3,580,157
2,961,449
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2025 and were signed on its behalf by
R Hall
Director
Company Registration No. 07886965
Lodestone Projects Limited
Notes to the Accounts
for the year ended 31 December 2024
Lodestone Projects Limited is a private company, limited by shares, registered in England and Wales, registration number 07886965. The registered office is 30 WINDERMERE DRIVE, ALWOODLEY, LEEDS, WEST YORKSHIRE, LS17 7UZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
20% on reducing balance
Computer equipment
20% on reducing balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Lodestone Projects Limited
Notes to the Accounts
for the year ended 31 December 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2024
26,137
7,000
46,136
41,433
120,706
Additions
21,291
-
-
-
21,291
At 31 December 2024
47,428
7,000
46,136
41,433
141,997
At 1 January 2024
22,926
6,519
18,542
33,371
81,358
Charge for the year
4,191
1,007
5,518
1,612
12,328
At 31 December 2024
27,117
7,526
24,060
34,983
93,686
At 31 December 2024
20,311
(526)
22,076
6,450
48,311
At 31 December 2023
3,211
481
27,594
8,062
39,348
Fair value at 1 January 2024
2,203,686
Net gain from fair value adjustments
936,314
At 31 December 2024
3,988,677
6
Investments
Subsidiary undertakings
Valuation at 1 January 2024
5,000
Valuation at 31 December 2024
5,000
Lodestone Projects Limited
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
Trade debtors
1,679
25,094
Amounts due from group undertakings etc.
546,010
546,010
Accrued income and prepayments
2,390
3,364
Amounts falling due after more than one year
8
Creditors: amounts falling due within one year
2024
2023
Amounts owed to group undertakings and other participating interests
3,561
-
Taxes and social security
4,864
105,669
Other creditors
866
61,637
9
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
144
144
Included in long term creditors is a loan secured on the investment properties. A personal guarantee has been provided.
10
Deferred taxation
2024
2023
Revaluation of land and buildings
234,078
-
Charged to the profit and loss account
234,078
-
Provision at end of year
234,078
-
11
Transactions with related parties
Included in debtors is a loan of £546,010 (2023 - £546,010) to parent company Lodestone Holdings Limited.
Included in creditors are loans of £3,561 (2023 - £61,123) from related companies.
All loans are interest-free and repayable on demand.
Lodestone Projects Limited
Notes to the Accounts
for the year ended 31 December 2024
Lodestone Holdings Limited
30 Windermere Drive
Leeds
West Yorkshire
LS17 7UZ
England
13
Average number of employees
During the year the average number of employees was 2 (2023: 2).