Company registration number 11071227 (England and Wales)
LENNON HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
LENNON HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
LENNON HOLDINGS LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
285,808
285,808
Investments
5
1
1
285,809
285,809
Current assets
Debtors
6
344,640
186,426
Investments
7
300,000
-
0
Cash at bank and in hand
18,430
329,324
663,070
515,750
Creditors: amounts falling due within one year
8
(87,128)
(198,922)
Net current assets
575,942
316,828
Total assets less current liabilities
861,751
602,637
Creditors: amounts falling due after more than one year
9
(144,109)
(151,054)
Net assets
717,642
451,583
Capital and reserves
Called up share capital
10
10
10
Profit and loss reserves
717,632
451,573
Total equity
717,642
451,583
LENNON HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2024
30 November 2024
- 2 -

For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 6 October 2025
M Lennon
Director
Company registration number 11071227 (England and Wales)
LENNON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
1
Accounting policies
Company information

Lennon Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 17 Pennine Parade, Pennine Drive, London, NW2 1NT.

1.1
Basis of preparation

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 as applicable to companies subject to the small companies regime. 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts 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.

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

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.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.2
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.3
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

LENNON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 4 -

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

1.4
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.

1.5
Financial instruments

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

1.6
Equity instruments

Equity instruments issued by the company 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 company.

1.7
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 company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

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 when the company has 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.

LENNON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.8
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.

1.9
Leases
As lessor

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.

1.10
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 company’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
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1.

2024
2023
Number
Number
Total
1
1
4
Investment property
2024
£
Fair value
At 1 December 2023 and 30 November 2024
285,808
LENNON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
4
Investment property
(Continued)
- 6 -

Investment property comprises Unit 3, Langley. The fair value of the investment property includes the purchase cost and any directly attributable expenditure. The directors have valued the property at the end of the period and have confirmed that there has been no change in value since acquisition.

Investment properties with a carrying amount of £285,808 have been pledged to secure borrowings of the company

5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1
1
Fixed asset investments not carried at market value

The director's have opted to account for the company's investment in subsidiaries at cost less impairment as set out in the above accounting policies and in accordance with the FRS 102 1A. The reason for choosing this method is that the subsidiary has always been privately owned and its shares have never been publicly traded.

6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
7,200
7,200
Other debtors
337,440
179,226
344,640
186,426
7
Current asset investments
2024
2023
£
£
Other investments
300,000
-
0
8
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,958
2,010
Taxation and social security
5,592
3,881
Other creditors
79,578
193,031
87,128
198,922
LENNON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 7 -
9
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
144,109
151,054

There is a legal charge dated 22 June 2021 in favour of the lender, Barclays Security Trustee Ltd, to secure loan facilities. This comprises fixed charge and floating charge over the company's property included within investment properties.Contains negative pledge.

At 30 November 2024, of the creditors falling due within and after more than one year, the bank loans totalling £1 44,109 are secured.

10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
1
1
10
10
2024-11-30 2023-12-01 false false false 06 October 2025 CCH Software CCH Accounts Production 2025.200 No description of principal activity M Lennon 11071227 2023-12-01 2024-11-30 11071227 2024-11-30 11071227 2023-11-30 11071227 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 11071227 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 11071227 core:ShareCapital 2024-11-30 11071227 core:ShareCapital 2023-11-30 11071227 core:RetainedEarningsAccumulatedLosses 2024-11-30 11071227 core:RetainedEarningsAccumulatedLosses 2023-11-30 11071227 core:ShareCapitalOrdinaryShareClass1 2024-11-30 11071227 core:ShareCapitalOrdinaryShareClass1 2023-11-30 11071227 bus:Director1 2023-12-01 2024-11-30 11071227 2022-12-01 2023-11-30 11071227 2023-11-30 11071227 core:CurrentFinancialInstruments 2024-11-30 11071227 core:CurrentFinancialInstruments 2023-11-30 11071227 core:WithinOneYear 2024-11-30 11071227 core:WithinOneYear 2023-11-30 11071227 core:Non-currentFinancialInstruments 2024-11-30 11071227 core:Non-currentFinancialInstruments 2023-11-30 11071227 bus:OrdinaryShareClass1 2023-12-01 2024-11-30 11071227 bus:OrdinaryShareClass1 2024-11-30 11071227 bus:OrdinaryShareClass1 2023-11-30 11071227 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 11071227 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 11071227 bus:FRS102 2023-12-01 2024-11-30 11071227 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 11071227 bus:FullAccounts 2023-12-01 2024-11-30 xbrli:pure xbrli:shares iso4217:GBP