Lapthorne Estates Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 6

Lapthorne Estates Limited

Balance Sheet

31 March 2025

	Note	2025 £	2024 £
Fixed assets
Investment property	5	600,000	480,000
Current assets
Debtors	6	4,979	3,868
Cash at bank and in hand		25,086	49,418
		30,065	53,286
Creditors: Amounts falling due within one year	7	(21,541)	(30,353)
Net current assets		8,524	22,933
Total assets less current liabilities		608,524	502,933
Provisions for liabilities		(60,645)	(30,645)
Net assets		547,879	472,288
Capital and reserves
Called up share capital	8	1,000	1,000
Profit and loss account		546,879	471,288
Shareholders' funds		547,879	472,288

Lapthorne Estates Limited

Balance Sheet

31 March 2025

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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 19 November 2025 and signed on its behalf by:
 

......................................... J E Hird Director

Company Registration Number: 04817659

Lapthorne Estates Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Sigma House
Oak View Close
Edginswell Park
Torquay
TQ2 7FF

The principal place of business is:
27 Claremont Road
Bishopston
Bristol
BS7 8DN

These financial statements were authorised for issue by the Board on 19 November 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 Section 1A, and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that, as disclosed in the accounting policies, certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of rents and other contributions receivable from tenants in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

The company recognises revenue when it can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Lapthorne Estates Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	10% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

Lapthorne Estates Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2024 - 1).

4	Tangible assets

	Plant and machinery  £
Cost or valuation
At 1 April 2024	172,137
At 31 March 2025	172,137
Depreciation
At 1 April 2024	172,137
At 31 March 2025	172,137
Carrying amount
At 31 March 2025	-

5	Investment properties

	2025 £
At 1 April 2024	480,000
Fair value adjustments	120,000
At 31 March 2025	600,000