Registration number: 05876904

Lighthouse Property Estates Limited

Contents

Company Information	1
Directors' Report	2
Balance Sheet	3
Notes to the Unaudited Financial Statements	4 to 10

Lighthouse Property Estates Limited

Company Information

Directors

Mr Simon Justin Colin Williams Zara Alison Hall

Registered office

The Lighthouse Tytherington Frome Somerset BA11 5BW

Accountants

Delphi Accounting Ltd Chartered Tax Advisor3 The Office Village Roman Way Bath Business Park Peasedown St John Bath BA2 8SG

Lighthouse Property Estates Limited

Directors' Report for the Year Ended 31 December 2024

The directors present their report and the financial statements for the year ended 31 December 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Simon Justin Colin Williams

Zara Alison Hall (appointed 22 February 2024)

Principal activity

The principal activity of the company is Provision of accommodation and venue hire

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 18 September 2025 and signed on its behalf by:
 

......................................... Mr Simon Justin Colin Williams Director

Lighthouse Property Estates Limited

(Registration number: 05876904)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	2,024,419	2,378,260
Other financial assets	5	150	150
		2,024,569	2,378,410
Current assets
Debtors	6	2,251,168	2,441,414
Cash at bank and in hand		591,589	14,246
		2,842,757	2,455,660
Creditors: Amounts falling due within one year	7	(207,819)	(142,635)
Net current assets		2,634,938	2,313,025
Net assets		4,659,507	4,691,435
Capital and reserves
Called up share capital	8	3,985,838	3,985,838
Share premium reserve		449,162	449,162
Retained earnings		224,507	256,435
Shareholders' funds		4,659,507	4,691,435

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year 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 and Directors' Report.

Approved and authorised by the Board on 18 September 2025 and signed on its behalf by:
 

......................................... Mr Simon Justin Colin Williams Director

Lighthouse Property Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England.
The principal activity is the provision of accommodation and venue hire.

 

The address of its registered office is:
The Lighthouse
Tytherington
Frome
Somerset
BA11 5BW

These financial statements were authorised for issue by the Board on 18 September 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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the accommodation and venue hire provided by the company 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 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.

Lighthouse Property Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

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:

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Lighthouse Property Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 11).

Lighthouse Property Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4	Tangible assets

	Land and buildings £	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £
Cost or valuation
At 1 January 2024	2,303,030	-	186,287	34,706
Additions	-	-	22,043	-
Disposals	(317,864)	(59,631)	-	-
At 31 December 2024	1,985,166	(59,631)	208,330	34,706
Depreciation
At 1 January 2024	-	-	122,632	23,131
Charge for the year	-	-	16,998	3,683
Eliminated on disposal	-	(22,292)	-	-
At 31 December 2024	-	(22,292)	139,630	26,814
Carrying amount
At 31 December 2024	1,985,166	(37,339)	68,700	7,892
At 31 December 2023	2,303,030	-	63,655	11,575

	Total £
Cost or valuation
At 1 January 2024	2,524,023
Additions	22,043
Disposals	(377,495)
At 31 December 2024	2,168,571
Depreciation
At 1 January 2024	145,763
Charge for the year	20,681
Eliminated on disposal	(22,292)
At 31 December 2024	144,152
Carrying amount
At 31 December 2024	2,024,419
At 31 December 2023	2,378,260

Included within the net book value of land and buildings above is £1,985,166 (2023 - £2,303,030) in respect of freehold land and buildings. Land and buildings comprise property of £1,975,000. The value of the property is based on a fair valuation undertaken by independent professionally qualified valuers on 31 December 2022. The property has been pledged as security for the company’s borrowings
 

Lighthouse Property Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5	Other financial assets (current and non-current)

	2024 £	2023 £
Non-current financial assets
Financial assets at cost less impairment	150	150

6

Debtors

Current	2024 £	2023 £
Trade debtors	259,492	12,188
Prepayments	3,845	-
Other debtors	1,987,831	2,429,226
	2,251,168	2,441,414

7

Creditors

Creditors: amounts falling due within one year

	Note	2024 £
Due within one year
Loans and borrowings		106,520
Trade creditors		31,065
Taxation and social security		51,558
Accruals and deferred income		15,705
Other creditors		2,971
		207,819

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary Shares of £1 each	3,985,838	3,985,838	3,985,838	3,985,838

9	Related party transactions

Lighthouse Property Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

	2024 £	2023 £
Remuneration	2,102	33,000

Loans to related parties

2024	Key management £	Total £
At start of period	1,775,561	1,775,561
Advanced	196,441	196,441
Repaid	(1,094,306)	(1,094,306)
Interest transactions	29,819	29,819
At end of period	907,515	907,515

2023	Key management £	Total £
At start of period	4,605,256	4,605,256
Advanced	604,337	604,337
Repaid	(3,434,032)	(3,434,032)
At end of period	1,775,561	1,775,561

Terms of loans to related parties

Director Loan