Company No: 07730983 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2024		2023
		£		£
Fixed assets
Tangible assets	3	28,191		35,606
Investment property	4	1,100,000		1,100,000
Investments	5	1,100		1,100
		1,129,291		1,136,706
Current assets
Stocks	6	182,184		470,307
Debtors	7	2,008,890		2,125,964
Cash at bank and in hand		311,362		936,656
		2,502,436		3,532,927
Creditors: amounts falling due within one year	8	( 1,529,014)		( 2,415,414)
Net current assets		973,422		1,117,513
Total assets less current liabilities		2,102,713		2,254,219
Creditors: amounts falling due after more than one year	9	( 480,000)		( 495,000)
Provision for liabilities		( 95,281)		( 96,927)
Net assets		1,527,432		1,662,292
Capital and reserves
Called-up share capital		2,000		2,000
Profit and loss account		1,525,432		1,660,292
Total shareholder's funds		1,527,432		1,662,292

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 member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Lansdown Asset Management Limited (registered number: 07730983) were approved and authorised for issue by the Board of Directors on 26 September 2025. They were signed on its behalf by:

B G Walker Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Lansdown Asset Management Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Suite 31 Press House Crest View Drive, Petts Wood, Orpington, BR5 1FE, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings	25 % reducing balance
Office equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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 credited or charged to profit or loss.

Borrowing costs

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 change 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 refer settlement of the liability for at least twelve months after the reporting date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the debtors are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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 Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions as paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

2. Employees

	2024		2023
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	5		5

3. Tangible assets

	Fixtures and fittings		Office equipment		Total
	£		£		£
Cost
At 01 January 2024	24,226		47,579		71,805
Additions	113		1,657		1,770
At 31 December 2024	24,339		49,236		73,575
Accumulated depreciation
At 01 January 2024	10,270		25,929		36,199
Charge for the financial year	3,515		5,670		9,185
At 31 December 2024	13,785		31,599		45,384
Net book value
At 31 December 2024	10,554		17,637		28,191
At 31 December 2023	13,956		21,650		35,606

4. Investment property

	Investment property
	£
Valuation
As at 01 January 2024	1,100,000
As at 31 December 2024	1,100,000

The company's investment property was valued on 31 March 2019.

5. Fixed asset investments

Investments in subsidiaries

	2024
	£
Cost
At 01 January 2024	1,100
At 31 December 2024	1,100
Carrying value at 31 December 2024	1,100
Carrying value at 31 December 2023	1,100

6. Stocks

	2024		2023
	£		£
Work in progress	182,184		470,307

7. Debtors

	2024		2023
	£		£
Amounts owed by Group undertakings	247,019		646,621
Amounts owed by own subsidiaries	35,998		25,998
Other debtors	1,725,873		1,453,345
	2,008,890		2,125,964

8. Creditors: amounts falling due within one year

	2024		2023
	£		£
Bank loans	20,000		20,000
Trade creditors	3,406		9,515
Taxation and social security	7,194		15,214
Other creditors	1,498,414		2,370,685
	1,529,014		2,415,414

Creditors include bank loans which are secured of £20,000 (2023: £20,000).

The loans are secured by a first legal charge over the long leasehold property, a debenture over the assets of the company and a personal guarantee given by B G Walker of £150,000 plus interest and costs.

9. Creditors: amounts falling due after more than one year

	2024		2023
	£		£
Other creditors	480,000		495,000

Creditors include bank loans which are secured of £480,000 (2023: £495,000).

The loans are secured by a first legal charge over the long leasehold property, a debenture over the assets of the company and a personal guarantee given by B G Walker of £150,000 plus interest and costs.

10. Financial commitments

Other Creditors includes a provision of £1,048,909 (2023: £1,048,909) in relation to certain costs that the company was contractually obliged to meet under a joint venture agreement for a property development. The provision represents the directors' best estimate of irrecoverable cost overruns and other contractual obligations as dictated by conditions extant at the balance sheet date.

11. Related party transactions

Other related party transactions

	2024		2023
	£		£
Amounts due to director	196,941		917,823

The loan from the director to the company is unsecured, interest free and repayable on demand.

The company has taken advantage of the exemption in FRS 102 33.1A "Related Party Disclosures" from disclosing transactions with other members of the group.