COMPANY REGISTRATION NUMBER:
12793160
|
Filleted Unaudited Financial Statements |
|
|
Statement of Financial Position |
|
31 August 2025
Fixed assets
|
Tangible assets |
5 |
|
2,036,491 |
2,031,430 |
|
|
|
|
|
Current assets
|
Debtors |
6 |
18,376 |
|
15,094 |
|
Cash at bank and in hand |
10,605 |
|
12,906 |
|
-------- |
|
-------- |
|
28,981 |
|
28,000 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
246,295 |
|
252,855 |
|
--------- |
|
--------- |
|
Net current liabilities |
|
217,314 |
224,855 |
|
|
------------ |
------------ |
|
Total assets less current liabilities |
|
1,819,177 |
1,806,575 |
|
|
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
|
1,130,304 |
1,121,630 |
|
|
|
|
|
|
Provisions |
|
2,936 |
1,671 |
|
|
------------ |
------------ |
|
Net assets |
|
685,937 |
683,274 |
|
|
------------ |
------------ |
|
|
|
|
Capital and reserves
|
Called up share capital |
|
2,002 |
2,002 |
|
Share premium account |
|
635,627 |
635,627 |
|
Profit and loss account |
|
48,308 |
45,645 |
|
|
--------- |
--------- |
|
Shareholders funds |
|
685,937 |
683,274 |
|
|
--------- |
--------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 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 year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Statement of Financial Position (continued) |
|
31 August 2025
These financial statements were approved by the
board of directors
and authorised for issue on
30 November 2025
, and are signed on behalf of the board by:
Company registration number:
12793160
|
Notes to the Financial Statements |
|
Year ended 31 August 2025
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. No depreciation is charged on investment property.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2024:
1
).
5.
Tangible assets
|
Freehold property |
Equipment |
Total |
|
£ |
£ |
£ |
|
Cost |
|
|
|
|
At 1 September 2024 |
2,024,747 |
|
2,033,508 |
|
Additions |
– |
|
8,857 |
|
Disposals |
– |
|
(
449) |
|
------------ |
-------- |
------------ |
|
At 31 August 2025 |
2,024,747 |
|
2,041,916 |
|
------------ |
-------- |
------------ |
|
Depreciation |
|
|
|
|
At 1 September 2024 |
– |
|
2,078 |
|
Charge for the year |
– |
|
3,574 |
|
Disposals |
– |
|
(
227) |
|
------------ |
-------- |
------------ |
|
At 31 August 2025 |
– |
|
5,425 |
|
------------ |
-------- |
------------ |
|
Carrying amount |
|
|
|
|
At 31 August 2025 |
2,024,747 |
|
2,036,491 |
|
------------ |
-------- |
------------ |
|
At 31 August 2024 |
2,024,747 |
|
2,031,430 |
|
------------ |
-------- |
------------ |
|
|
|
|
The investment properties were purchased for market value and initially recognised at cost. It is the opinion of the directors that the fair value of the investment properties at the balance sheet date is not materially different to that of the recorded cost value.
6.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Amounts owed by group undertakings and undertakings in which the company has a participating interest |
1,440 |
1,440 |
|
Other debtors |
16,936 |
13,654 |
|
-------- |
-------- |
|
18,376 |
15,094 |
|
-------- |
-------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Bank loans and overdrafts |
26,266 |
17,119 |
|
Other creditors |
220,029 |
235,736 |
|
--------- |
--------- |
|
246,295 |
252,855 |
|
--------- |
--------- |
|
|
|
The bank loans are secured on the properties to which they relate.
8.
Creditors:
amounts falling due after more than one year
|
2025 |
2024 |
|
£ |
£ |
|
Bank loans and overdrafts |
708,259 |
712,705 |
|
Loan notes |
|
|
|
Other creditors |
1,870 |
– |
|
------------ |
------------ |
|
1,130,304 |
1,121,630 |
|
------------ |
------------ |
|
|
|
The bank loans are secured on the properties to which they relate.
9.
Directors' advances, credits and guarantees
At the balance sheet date, the directors were owed £198,115 (2024: £216,532) by the company.
10.
Controlling party
The company is a wholly owned subsidiary of Lotus Capital Group Limited. The registered office address of the parent company is Lyndhurst, 1 Cranmer Street, Long Eaton, Nottingham, NG10 1NJ.