Company No: 11594331 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Current assets
Stocks	3	430,781		522,707
Debtors	4	0		6,840
Cash at bank and in hand		274,789		59,030
		705,570		588,577
Creditors: amounts falling due within one year	5	( 226,829)		( 547,236)
Net current assets		478,741		41,341
Total assets less current liabilities		478,741		41,341
Net assets		478,741		41,341
Capital and reserves
Called-up share capital	6	1		1
Profit and loss account		478,740		41,340
Total shareholders' funds		478,741		41,341

For the financial year ending 31 March 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 Lanisley Ltd (registered number: 11594331) were approved and authorised for issue by the Board of Directors on 09 December 2025. They were signed on its behalf by:

Colonel E T Bolitho OBE 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

Lanisley Ltd (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 The Estate Office, Chyandour Square, Penzance, TR18 3LW, 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 £.

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.
Revenue comprises the following:
Sales represents income received from land development activities.
Rental income is generated from farming land owned.

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.

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 comprises cost of acquisition of the land, together with associated costs of future development.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and made up of cash held in a current bank account.

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.

2. Employees

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

3. Stocks

	2025		2024
	£		£
Work in progress	430,781		522,707

4. Debtors

	2025		2024
	£		£
Trade debtors	0		6,840

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	312		443
Taxation and social security	145,944		13,447
Other creditors	80,573		533,346
	226,829		547,236

Within other creditors is a loan of £56,648 (2024: £56,648) payable to Trengwainton Developments Ltd, a company
which is more than 90% owned and controlled by a trust of which Mr William Edward Morgan Bolitho, Shareholder
and Director of this company, is the majority beneficiary. Other creditors also include a loan of £12,000 (2024:
£462,000) from The Edward Thomas Bolitho Children's Settlement.

Included within other creditors is an amount owed to the directors totalling £10,350 (2024: £10,350). This balance has
no fixed terms of repayment and interest has not been charged.

6. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 0.001 each	1		1