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Registered number: 07770776 DAVID LANE INVESTMENTS LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
DAVID LANE INVESTMENTS LIMITED REGISTERED NUMBER:07770776
STATEMENT OF FINANCIAL POSITION AS AT 30 SEPTEMBER 2024
|  |  |  | As restated
|  | 2024 |  | 2023
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investments | 4 |  | 5,900,050 |  | 6,000,050
|  |  | 5,900,050 |  | 6,000,050
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 26,577 |  | 180 |
Current asset investments | 6 | 4,707,258 |  | 6,630,229 |
Cash at bank and in hand | 7 | 869,287 |  | 530,270 |
|  | 5,603,122 |  | 7,160,679 |
Creditors: amounts falling due within one year | 8 | (9,786,080) |  | (11,906,465) |
Net current liabilities |  |  | (4,182,958) |  | (4,745,786)
Total assets less current liabilities |  |  | 1,717,092 |  | 1,254,264
Net assets |  |  | 1,717,092 |  | 1,254,264
Capital and reserves |  |  |  |  |
Called up share capital | 9 |  | 100 |  | 100
Profit and loss account |  |  | 1,716,992 |  | 1,254,164
|  |  | 1,717,092 |  | 1,254,264
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DAVID LANE INVESTMENTS LIMITED REGISTERED NUMBER:07770776
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 30 SEPTEMBER 2024 The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
D I Lane
Director
Date: 12 September 2025
The notes on pages 3 to 6 form part of these financial statements. Page 2
DAVID LANE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
1. | General information
David Lane Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 07770776. The registered office address is Elsley Court, 20-22 Great Titchfield Street, London, W1W 8BE. The principal activity of the company continued to be that of investing in shares and securities. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of the FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
| 2.2 | Functional and presentational currency
The company's functional and presentational currency is pound sterling.
| 2.3 | Dividend income
Dividend income is recognised in the year in which the company's right to receive dividend is established.
| 2.4 | Interest income
Interest income is recognised in profit or loss using the effective interest method.
| 2.5 | Pensions
Defined contribution pension plan The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the statement of financial position. The assets of the plan are held separately from the company in independently administered funds. Page 3
DAVID LANE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024 2.Accounting policies (continued)
| 2.6 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.7 | Valuation of investments
Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.
| 2.8 | Associates and joint ventures
Associates and Joint Ventures are held at cost less impairment.
| 2.9 | Debtors
Short-term debtors are measured at transaction price, less any impairment.
| 2.10 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.11 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.12 | Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as other debtors and other creditors, loans with related parties and investments in non puttable ordinary shares. Page 4
DAVID LANE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
3. | Employees
| The average monthly number of employees, including directors, during the year was 3 (2023 - 3).
4. | Fixed asset investments
|  | Other investments | Investment in joint ventures | Total
|  | £ | £ | £
| Cost or valuation |  |  |
| At 1 October 2023 | 6,000,000 | 50 | 6,000,050
| Disposals | (100,000) | - | (100,000)
| At 30 September 2024 | 5,900,000 | 50 | 5,900,050
5. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other debtors | 22,282 | -
| Prepayments | 4,253 | 138
| Deferred taxation | 42 | 42
|  | 26,577 | 180
6. | Current asset investments
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Listed investments | 4,707,258 | 6,630,229
7. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank | 869,287 | 530,270
Page 5
DAVID LANE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024
8. | Creditors: amounts falling due within one year
|  |  |  |  |  | As restated
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other creditors | 9,774,230 | 11,890,389
| Accruals | 11,850 | 16,076
|  | 9,786,080 | 11,906,465
9. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 100 (2023 - 100) Ordinary shares of £1.00 each | 100 | 100
10. | Prior year adjustment
The directors reconsidered the terms of the investment agreement with the company’s joint venture and interest on investments of £112,458 and related corporation tax charge of £20,772 have been reversed. The effect of these adjustments is to decrease the fixed assets investments by £112,458, decrease the corporation tax liability by £20,772 and reduce the profit for the year by £91,686. This adjustment reduced the retained earnings by £91,686.
11. | Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £40,000 (2023 - £40,000). Included in other creditors at the year end there is an amount payable of £168 (2023 - £168).
12. | Transactions with directors
As at the year end, the company owed £9,774,063 (2023 - £11,890,221) to the directors. The loans are unsecured, interest free and repayable on demand.
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