REGISTERED NUMBER: 00894965 (England and Wales)

THE LAPWING ESTATE LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

N D S Brown

J F S Brown

SECRETARY:

J F S Brown

REGISTERED OFFICE:

Everton Carr Farm

Claybank Lane

Everton

Doncaster

South Yorkshire

DN10 5BZ

REGISTERED NUMBER:

00894965 (England and Wales)

SENIOR STATUTORY AUDITOR:

Michael Argyle BSc ACA

AUDITORS:

Duncan & Toplis Audit Limited, Statutory Auditor

3 Castlegate

Grantham

Lincolnshire

NG31 6SF

BANKERS:

HSBC Bank Plc

26 Market Place

Sleaford

Lincolnshire

NG34 7SB

SOLICITORS:

Mossop & Bowser

10 Spalding Road

Holbeach

Lincolnshire

PE12 7LP

FIXED ASSETS

Property, plant and equipment

4

7,801,746

8,283,496

Investments

5

1,250,006

1,250,004

Investment property

6

-

260,000

9,051,752

9,793,500

CURRENT ASSETS

Debtors

7

1,726,493

633,183

Cash at bank

224,323

1,342,716

1,950,816

1,975,899

CREDITORS

Amounts falling due within one year

8

113,999

159,901

NET CURRENT ASSETS

1,836,817

1,815,998

TOTAL ASSETS LESS CURRENT LIABILITIES

10,888,569

11,609,498

CREDITORS

Amounts falling due after more than one year

9

(66,286

)

-

PROVISIONS FOR LIABILITIES

(217,697

)

(60,071

)

NET ASSETS

10,604,586

11,549,427

CAPITAL AND RESERVES

Called up share capital

11

41,216

41,216

Share premium

6,994

6,994

Capital redemption reserve

156,784

156,784

Retained earnings

10,399,592

11,344,433

SHAREHOLDERS' FUNDS

10,604,586

11,549,427

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2025 and were signed on its behalf by:

J F S Brown - Director

1.	STATUTORY INFORMATION

The Lapwing Estate Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets and on the assumption that the company is a going concern.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Revenue

Revenue represents amounts derived from the provision of services to the Environment Agency and is recognised on delivery of the project report.

Property, plant and equipment

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

33% on cost, 20% on cost and 10% on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Plant and machinery used for generating renewable energy is depreciated in line with the recommended Feed in Tariff scheme length of 20 years.

No depreciation is provided on land and buildings. It is the company's policy to maintain its properties in a continual state of repair. In the case of freehold buildings the directors consider that the lives of these properties and their residual values are such that their depreciation is not significant. Property improvements included within this heading are depreciated at 20% on cost.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is any indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment is recognised immediately in the income statement.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost less provision for any impairment in value.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement.

Financial instruments

The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.

Basis of consolidation

Consolidated accounts have not been prepared since the company is a subsidiary of Vanellus Limited and is exempted from the requirement to prepare group accounts under Section 400 of the Companies Act 2006.

Other income

Rental income is recognised in the period to which it relates.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2024 - 4 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Land and

Plant and

buildings

machinery

Totals

£

£

£

COST

At 1 June 2024

7,791,993

660,223

8,452,216

Additions

126,212

127,712

253,924

Disposals

-

(36,995

)

(36,995

)

Reclassification/transfer

(616,534

)

-

(616,534

)

At 31 May 2025

7,301,671

750,940

8,052,611

DEPRECIATION

At 1 June 2024

18,243

150,477

168,720

Charge for year

17,813

80,772

98,585

Eliminated on disposal

-

(16,440

)

(16,440

)

At 31 May 2025

36,056

214,809

250,865

NET BOOK VALUE

At 31 May 2025

7,265,615

536,131

7,801,746

At 31 May 2024

7,773,750

509,746

8,283,496

5.	FIXED ASSET INVESTMENTS

Interest

Shares in

in other

group

participating

undertakings

interests

Totals

£

£

£

COST

At 1 June 2024

1,250,004

-

1,250,004

Additions

1

1

2

At 31 May 2025

1,250,005

1

1,250,006

NET BOOK VALUE

At 31 May 2025

1,250,005

1

1,250,006

At 31 May 2024

1,250,004

-

1,250,004

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2024

260,000

Disposals

(260,000

)

At 31 May 2025

-

NET BOOK VALUE

At 31 May 2025

-

At 31 May 2024

260,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

462,066

93,946

Amounts owed by group undertakings

1,173,773

465,006

Other debtors

17,576

25,449

Prepayments and accrued income

73,078

48,782

1,726,493

633,183

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Hire purchase contracts

21,368

-

Trade creditors

34,952

47,334

Amounts owed to group undertakings

-

92,567

Corporation tax

37,679

-

Accruals and deferred income

20,000

20,000

113,999

159,901

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Hire purchase contracts

66,286

-

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

87,654

-

The hire purchase creditor is secured on the assets to which it relates.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

41,216

Ordinary

£1

41,216

41,216

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Argyle BSc ACA (Senior Statutory Auditor)

for and on behalf of Duncan & Toplis Audit Limited, Statutory Auditor

13.	ULTIMATE CONTROLLING PARTY

The company's immediate and ultimate parent company is Vanellus Limited, incorporated in England and Wales.

The consolidated financial statements of Vanellus Limited are available from the registered office.

The registered office is located at:

Everton Carr Farm

Claybank Lane

Everton

Doncaster

South Yorkshire

DN10 5BZ