REGISTERED NUMBER: 01560973 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

LINDELM LIMITED

PREVIOUSLY KNOWN AS

CHELSEA GATE STUDIOS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C F Wenstrom

F S Wenstrom

REGISTERED OFFICE:

18 High Street

Lindfield

Haywards Heath

West Sussex

RH16 2HH

REGISTERED NUMBER:

01560973 (England and Wales)

ACCOUNTANTS:

Paddenburg & Co Limited

100 Church Street

Brighton

East Sussex

BN1 1UJ

FIXED ASSETS

Tangible assets

4

905

1,481

Investments

5

282,257

232,649

Investment property

6

2,125,000

2,656,005

2,408,162

2,890,135

CURRENT ASSETS

Debtors

7

51,435

44,251

Cash at bank

27,940

36,587

79,375

80,838

CREDITORS

Amounts falling due within one year

8

726,134

170,785

NET CURRENT LIABILITIES

(646,759

)

(89,947

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,761,403

2,800,188

CREDITORS

Amounts falling due after more than one year

9

-

(598,003

)

PROVISIONS FOR LIABILITIES

11

(109

)

(73,486

)

NET ASSETS

1,761,294

2,128,699

CAPITAL AND RESERVES

Called up share capital

1,566,136

1,566,136

Fair value reserve

(238,543

)

236,893

Retained earnings

433,701

325,670

1,761,294

2,128,699

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 29 September 2025 and were signed on its behalf by:

C F Wenstrom - Director

F S Wenstrom - Director

1.	STATUTORY INFORMATION

Lindelm 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Preparation of consolidated financial statements

The financial statements contain information about Lindelm Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

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

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

4,425

762

5,187

DEPRECIATION

At 1 April 2024

3,664

42

3,706

Charge for year

326

250

576

At 31 March 2025

3,990

292

4,282

NET BOOK VALUE

At 31 March 2025

435

470

905

At 31 March 2024

761

720

1,481

5.	FIXED ASSET INVESTMENTS

2025

2024

£

£

Shares in group undertakings

12

12

Loans to group undertakings

282,245

232,637

282,257

232,649

Additional information is as follows:

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

12

NET BOOK VALUE

At 31 March 2025

12

At 31 March 2024

12

Loans to

group

undertakings

£

At 1 April 2024

232,637

New in year

49,608

At 31 March 2025

282,245

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

2,656,005

Revaluations

(531,005

)

At 31 March 2025

2,125,000

NET BOOK VALUE

At 31 March 2025

2,125,000

At 31 March 2024

2,656,005

Fair value at 31 March 2025 is represented by:

£

Valuation in 2020

5,000

Valuation in 2022

287,461

Valuation in 2025

(531,005

)

Cost

2,363,544

2,125,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,425

-

Accrued income

3,435

5,317

Prepayments

46,575

38,934

51,435

44,251

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 10)

600,069

56,953

Payments on account

654

384

Trade creditors

43,302

36,448

Tax

33,537

26,942

VAT

465

484

Other creditors

36,234

36,234

Directors' loan accounts

1,185

1,186

Accrued expenses

10,688

12,154

726,134

170,785

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 10)

-

598,003

2025

2024

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

370,192

10.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loans

600,069

56,953

Amounts falling due between one and two years:

Bank loans - 1-2 years

-

56,953

Amounts falling due between two and five years:

Bank loans - 2-5 years

-

170,858

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

370,192

11.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

109

73,486

Deferred

tax

£

Balance at 1 April 2024

73,486

Accelerated capital allowances

(262

)

Revaluation reversal

(73,115

)

Balance at 31 March 2025

109

12.	RELATED PARTY DISCLOSURES

The reporting entity is the parent company for both Dawlin Investments Limited and Dawlin Capital Limited which are registered outside of the United Kingdom and have directors in common with the reporting entity.

The company made further advances during the period to these companies of £49,608 (2024: £26,140) with total advances to the companies amounting to £282,245 (2024: £232,637).

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is F S Wenstrom.

By virtue of right by holding the overriding vote in the event of a deadlock.