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Company Registration No. 07370268 (England and Wales)
Lancaster Property Lettings Ltd Unaudited accounts for the year ended 29 April 2025
Lancaster Property Lettings Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
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Lancaster Property Lettings Ltd Company Information for the year ended 29 April 2025
Directors
Peter Charnley Marian Charnley
Company Number
07370268 (England and Wales)
Registered Office
Hare House 732 Whittingham Lane Preston PR3 2JJ
Accountants
The Tax Farm Hare House 732 Whittingham Lane Preston PR3 2JJ
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Lancaster Property Lettings Ltd Statement of financial position as at 29 April 2025
2025
2024
Notes
£
£
Fixed assets
Investment property
4
470,000
435,000
Current assets
Debtors
5
247,611
230,935
Cash at bank and in hand
30,160
77,354
277,771
308,289
Creditors: amounts falling due within one year
6
(19,854)
(20,528)
Net current assets
257,917
287,761
Total assets less current liabilities
727,917
722,761
Creditors: amounts falling due after more than one year
7
(190,580)
(273,420)
Provisions for liabilities
Deferred tax
8
(15,326)
(6,576)
Net assets
522,011
442,765
Capital and reserves
Called up share capital
5
5
Profit and loss account
522,006
442,760
Shareholders' funds
522,011
442,765
For the year ending 29 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 13 January 2026 and were signed on its behalf by
Peter Charnley Director Company Registration No. 07370268
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Lancaster Property Lettings Ltd Notes to the Accounts for the year ended 29 April 2025
1
Statutory information
Lancaster Property Lettings Ltd is a private company, limited by shares, registered in England and Wales, registration number 07370268. The registered office is Hare House, 732 Whittingham Lane, Preston, PR3 2JJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents amounts receivable for goods and services and rent net of VAT and trade discounts.
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
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 accounts. 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.
4
Investment property
2025
£
Fair value at 30 April 2024
435,000
Net gain from fair value adjustments
35,000
At 29 April 2025
470,000
The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors at the year end.
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Lancaster Property Lettings Ltd Notes to the Accounts for the year ended 29 April 2025
5
Debtors
2025
2024
£
£
Amounts falling due after more than one year
Accrued income and prepayments
2,593
15,038
Other debtors
245,018
215,897
247,611
230,935
6
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
5,790
5,790
Trade creditors
1,662
4,275
Taxes and social security
14,811
9,300
Other creditors
-
1,351
Loans from directors
(2,409)
(188)
19,854
20,528
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans
190,180
200,820
Other creditors
400
72,600
190,580
273,420
8
Deferred taxation
2025
2024
£
£
Revaluation of investment property
15,326
6,576
2025
2024
£
£
Provision at start of year
6,576
3,807
Charged to the profit and loss account
8,750
2,769
Provision at end of year
15,326
6,576
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Lancaster Property Lettings Ltd Notes to the Accounts for the year ended 29 April 2025
9
Transactions with related parties
The following amounts were outstanding at the reporting end date: Amounts due to related parties P&PC Surveyors Limited £0 (2024 - £42,000) 60 Church Street Limited £0 (2024 - £30,200) Charnley Property Limited £400 (2024 - £400) Amounts due from related parties Market Street Limited £120,000 (2024 - £140,000) P&M Properties Partnership £124,018 (2024 - £75,897) The amount outstanding from Market Street Limited, a company in which Mr P. Charnley is a director and shareholder, is in respect of a loan. No interest was charged on the loan during the period. The amount outstanding from P&M Properties, a partnership in which both Mr P. Charnley and Mrs M. Charnley are partners, is in respect of a loan. No interest was charged on the loan during the period.
10
Average number of employees
During the year the average number of employees was 2 (2024: 2).
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