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Company No: 13287340 (England and Wales)

# LASNE LIMITED

### Unaudited Financial Statements
For the financial year ended 30 April 2025
Pages for filing with the registrar

LASNE LIMITED

## Unaudited Financial Statements

For the financial year ended 30 April 2025

Contents

LASNE LIMITED

## BALANCE SHEET

As at 30 April 2025
LASNE LIMITED

## BALANCE SHEET (continued)

As at 30 April 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investments | 3 | 426,000 |  | 426,000
|  | 426,000 |  | 426,000
Current assets |  |  |  |
Debtors | 4 | 9,716 |  | 21,254
Cash at bank and in hand |  | 1,615,169 |  | 1,560,420
|  | 1,624,885 |  | 1,581,674
Creditors: amounts falling due within one year | 5 | ( 13,385) |  | ( 11,325)
Net current assets |  | 1,611,500 |  | 1,570,349
Total assets less current liabilities |  | 2,037,500 |  | 1,996,349
Creditors: amounts falling due after more than one year | 6 | ( 301,042) |  | ( 301,042)
Net assets |  | 1,736,458 |  | 1,695,307
Capital and reserves |  |  |  |
Called-up share capital | 7 | 124,958 |  | 124,958
Profit and loss account |  | 1,611,500 |  | 1,570,349
Total shareholders' funds |  | 1,736,458 |  | 1,695,307

For the financial year ending 30 April 2025 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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements of Lasne Limited (registered number: 13287340) were approved and authorised for issue by the Board of Directors on 08 October 2025. They were signed on its behalf by:

H Orchard Jnr Director |  | J R Orchard Director

LASNE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025
LASNE LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025

##### 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

Lasne 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 Methrose Works, Carne Cross, St Blazey, Par, Cornwall PL24 2SX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include 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 £.

##### 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.

##### 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.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 4 |  | 4

#### 3. Fixed asset investments

Investments in subsidiaries

| 2025
| £
Cost |
At 01 May 2024 | 426,000
At 30 April 2025 | 426,000
Carrying value at 30 April 2025 | 426,000
Carrying value at 30 April 2024 | 426,000

Investments in shares

Name of entity | Registered office | Principal activity | Class of shares | Ownership 30.04.2025 | Ownership 30.04.2024
Henry Orchard & Sons Limited | Methrose Works, Carne Cross, St Blazey, Par, Cornwall PL24 2SX | Scrap processing and recycling | Ordinary | 100.00% | 100.00%
Henry Orchard & Sons Limited | Methrose Works, Carne Cross, St Blazey, Par, Cornwall PL24 2SX | Scrap processing and recycling | Preference | 100.00% | 100.00%

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Amounts owed by Group undertakings | 9,716 |  | 21,254

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Corporation tax | 12,286 |  | 10,225
Other creditors | 1,099 |  | 1,100
| 13,385 |  | 11,325

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Other creditors | 301,042 |  | 301,042

There are no amounts included above in respect of which any security has been given by the small entity.
Other creditors relates to redeemable preference shares (note 7).

#### 7. Called-up share capital and reserves

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
1,000 Ordinary shares of £ 1.00 each | 1,000 |  | 1,000
50,000 6.5% Preference non-cumulative redeemable shares of £ 1.00 each | 50,000 |  | 50,000
375,000 4.25% Preference non-cumulative redeemable shares of £ 1.00 each | 375,000 |  | 375,000
| 425,000 |  | 425,000
| 426,000 |  | 426,000
Presented as follows: |  |  |
Called-up share capital presented as equity | 124,958 |  | 124,958
Called-up share capital presented as liability | 301,042 |  | 301,042
| 426,000 |  | 426,000

In accordance with section 12 of FRS102 the preference shares are treated as a compound financial instrument. The net present value of dividends to be paid in perpetuity, totalling £301,042 is treated as a financial liability within creditors falling due after more than one year whilst the balance of £123,958 remains as equity.

#### 8. Related party transactions

Other related party transactions

Henry Orchard & Sons Limited
Intercompany loan account
The company operates an interest free loan account with Henry Orchard & Sons Limited. At the year end the amount due from Henry Orchard & Sons Limited was £9,716 (2024 £21,254).