J H Lowson & Company Limited - Accounts

Registered number

08013456

J H Lowson & Company Limited

Report and Financial Statements

31 March 2023

J H Lowson & Company Limited
Report and accounts
Contents
	Page
Company information	1
Directors' report	2-3
Strategic report	4-5
Independent auditor's report	6-7
Income statement	8
Statement of comprehensive income	9
Statement of financial position	10
Statement of changes in equity	11
Statement of cash flows	12
Notes to the financial statements	13-20

J H Lowson & Company Limited

Company Information

Directors

J H Lowson

D Hall

Auditors

Riverside Accountancy Lancaster Limited

Riverside Offices

2nd Floor

26 St George's Quay

Lancaster

LA1 1RD

Bankers

Barclays Bank PLC

38 Market Street

Lancaster

LA1 1HR

Registered office

3rd Floor

Rosemary House

61 North Road

Lancaster

LA1 1LU

Registered number

08013456

J H Lowson & Company Limited
Registered number:				08013456
Directors' Report
The directors present their report and financial statements for the year ended 31 March 2023.
Principal activities
The company's principal activity during the year continued to be investment management and independent financial advisory services. It is making steady progress in line with director's forecasts.
Financial instrument risk
Due to the sector in which the company operates, many of the financial risks such as price and credit risk are minimised. In addition, the company operates exclusively within the United Kingdom. The directors operate tight control over expenditure to ensure that both liquidity and cash flow risks are minimised. This will continue until such time as the directors do not consider this policy to be in the best interests of the company.
Directors
The following persons served as directors during the year:
	J H Lowson
	D Hall
Directors' responsibilities

The directors are responsible for preparing the report and financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102 and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
●	select suitable accounting policies and then apply them consistently;
●	make judgements and estimates that are reasonable and prudent;
●	state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
●	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each person who was a director at the time this report was approved confirms that:
●	so far as he is aware, there is no relevant audit information of which the company's auditor is unaware; and
●	he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditor is aware of that information.

This report was approved by the board on 4 May 2023 and signed on its behalf.

J H Lowson

Director

J H Lowson & Company Limited
Strategic Report
The directors present their strategic report for the year ended 31 March 2023.
Review of the business
The company offers investment management and independent financial advisory services to retail and corporate customers.
During this financial period, the company saw overall revenues decrease by about 10%.
Fees from Investment Management Services decreased significantly (19%) – Some of this fall (about 8%) is accounted for by a fall in the average assets under management during the period (the fees for these revenues are ad valorem, so fluctuate with market prices). The other 11% decrease was due to withdrawal of assets (from former introduced client business) – which had been expected and disclosed in the previous financial statements. The company expects Investment Management fees to continue to decline over the next financial period (through further loss of introduced assets), although future decreases could potentially be offset somewhat, if asset values increase on remaining assets.
Revenues from Advisory Services also fell (8%) as a result of a decrease in assets values due to adverse market movements. This is the firms core business and we would expect the revenues, client and asset bases to generally follow a positive trend over the longer term (notwithstanding certain periods where asset values fall). Assuming a return to increasing asset values, we would expect to see revenues increase over the next financial period.Revenues from Advisory Services also fell (8%) as a result of a decrease in assets values due to adverse market movements. This is the firms core business and we would expect the revenues, client and asset bases to generally follow a positive trend over the longer term (notwithstanding certain periods where asset values fall). Assuming a return to increasing asset values, we would expect to see revenues increase over the next financial period.
Revenues from Consultancy Services increased slightly (12%) – These are not core services and not expected to increase significantly from the current level in future.
Results and performance
The results for the period are set out on page 8 and show a profit of £76,251 (2022: £119,974). The shareholders’ funds a total £153,867 (2022: £173,323). Dividends of £81,180 (2022: £73,000) were paid during the year.
The company’s income decreased (10%) during the period (the reasons for which are outlined in the review, above). Cost of sales decreased correspondingly (8%) – largely as a result of a decrease in asset values (which is the basis for calculating payments to introducers). Overheads increased significantly (20%) - mainly as a result of increased StaffThe company’s income decreased (10%) during the period (the reasons for which are outlined in the review, above). Cost of sales decreased correspondingly (8%) – largely as a result of a decrease in asset values (which is the basis for calculating payments to introducers). Overheads increased significantly (20%) - mainly as a result of increased Staff Costs.
Key performance indicators (‘KPIs’)
The Board monitors the progress of the company by reference to the following KPIs:
				2023	2022
Investment Management Fees				74,949	92,572	Company’s fees levied on the funds under management.
Fees and Commissions				264,641	286,283	Fees received from investment services provided.
J H Lowson & Company Limited
Strategic Report
Consultancy fees				6,374	5,695	Fees from consulting services provided.
Retained Profit				76,251	119,974	Balance of Revenue less Expenditure for the period.
Cash and Bank Reserves				85,841	116,969	Balance of cash held in hand and at bank.
Principal risks and uncertainties
Compliance with regulatory, legal and ethical standards – the company not only has obligations under the industry regulator (Financial Conduct Authority) but also to its professional body (The Chartered Insurance Institute), which awards the firm’s Corporate Chartered Firm status. Maintaining regulatory permissions and professional recognition is a high priority for the company.
Due to the sector in which the company operates, many of the financial risks such as price and credit risk are minimised. The process of risk acceptance and risk management is addressed through a framework of policies, procedures and internal controls. The company has developed a framework for identifying risks which focuses on the management of its capital requirements and the financial resources at its disposal to meet those costs.
The company operates exclusively within the United Kingdom and has all the usual risks associated with operating a business. The company operates exclusively within the United Kingdom and has all the usual risks associated with operating a business.
We expect to see a continued decrease in Investment Management Revenues (from the loss of introduced business). The amount of this revenue that remains on the company’s books is about 17% of this period revenues. It is likely that we will see a loss of some or even all of this revenue over the course of the next financial period. However, we would also hope that some of the decrease in Investment Management revenues (from withdrawal of assets) will be offset by an increase in the value of the remaining assets. It could also be somewhat offset by an increase in Advisory Fee revenues – once again, depending on whether asset values increase.
It is expected that Costs will also increase in the next financial period, as we indicated in previous statements. Additional Staffing costs are likely to increase the overheads by a further 15% in the next financial period. The firm is also making provision for a substantial increase in the Property Service Charge (under a lease) for extraordinary one-off repairs and maintenance – allowing for perhaps a further 5% to 10% increase in overheads.
Future developments
The directors believe that in the next financial period, core advisory revenues will grow in line with any increases in asset values (we expect a long term average of about 4% per year). Investment Management revenues are expected for follow a similar long term trend, but with a short term reduction from loss of withdrawn assets over the next 1 to 2 years.
By the end of the next financial period, the firm will have completed the acquisition of a new client bank – which will see a substantial reduction in the Cost of Sales (to zero) and a corresponding substantial increase in profits (perhaps by more than 200%) in subsequent financial periods.
Over the longer term, the firm is also actively engaged it discussions with other firms of advisers, with the prospect of further business acquisitions in the next 5 to 10 years. As with previous acquisitions, this will be done over a number of years – to allow the firm to upscale resources to meet any additional demands.
This report was approved by the board on 4 May 2023 and signed on its behalf.
J H Lowson
Director

J H Lowson & Company Limited

Independent auditor's report

to the members of J H Lowson & Company Limited

Opinion

We have audited the financial statements of J H Lowson & Company Limited (the 'company') for the year ended 31 March 2023 which comprise the Income Statement, the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
●	give a true and fair view of the state of the company's affairs as at 31 March 2023 and of its profit for the year then ended;
●	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
●	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
●	the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
●	the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
●	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
●	the financial statements are not in agreement with the accounting records and returns; or
●	certain disclosures of directors’ remuneration specified by law are not made; or
●	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the directors’ responsibilities statement (set out on pages 2 and 3), the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

●	Review of directors minutes and review of nominal postings for legal and professional fees ensured we identified any regulatory compliance issues and laws that company must follow in the year and to the date of signing the financial statements;
●	The assessment of fraud was considered as low due to the segregation of duties seen, the low levels of cash handled. A review of journal entries and consideration of their appropriateness was carried out through the audit;
●	During the audit we speak to management, test the systems and speak to various members of the finance function to understand the entity its processes and the nature of trade to assist in determining if the financial statements are true and fair;
●	Challenging assumptions made by management in making their significant accounting estimates;
●	Reviewing financial statement disclosure and testing to supporting documentation to assess compliance with applicable laws and regulations;
●	The company is highly regulated by the FCA as part of the audit we review submissions in the year for compliance.
A further description of our responsibilities for the audit of the financial statements is available on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Penelope Bowden ACA
(Senior Statutory Auditor)		Riverside Offices
for and on behalf of		2nd Floor
Riverside Accountancy Lancaster Limited		26 St George's Quay
Statutory Auditor		Lancaster
4 May 2023		LA1 1RD

J H Lowson & Company Limited
Income Statement
for the year ended 31 March 2023
Notes						2023		2022
£							£
Turnover				2		345,964		384,550
Cost of sales						(154,418)		(168,610)
Gross profit						191,546		215,940
Administrative expenses						(110,658)		(92,319)
Operating profit				3		80,888		123,621
Interest receivable						164		(1)
Interest payable				6		(4,801)		(3,646)
Profit on ordinary activities before taxation						76,251		119,974
Tax on profit on ordinary activities				7		(14,527)		(22,853)
Profit for the financial year						61,724		97,121
Statement of total recognised gains and losses
The company has no recognised gains or losses other than the profit for the above two financial years.
The notes on pages 13 to 20 form an integral part of these financial statements .

J H Lowson & Company Limited
Statement of comprehensive income
for the year ended 31 March 2023
Notes					2023		2022
£						£
Profit for the financial year					61,724		97,121
Other comprehensive income
Total comprehensive income for the year					61,724		97,121

J H Lowson & Company Limited
Statement of Financial Position
as at 31 March 2023
Notes				2023			2022
£					£
Fixed assets
Tangible assets	9			153,297			151,358
Current assets
Debtors	10		4,119			7,263
Cash at bank and in hand			85,841			116,969
			89,960			124,232
Creditors: amounts falling due within one year	11		(24,051)			(33,667)
Net current assets				65,909			90,565
Total assets less current liabilities				219,206			241,923
Creditors: amounts falling due after more than one year	12			(64,233)			(68,114)
Provisions for liabilities
Deferred taxation	14			(1,106)			(486)
Net assets				153,867			173,323
Capital and reserves
Called up share capital	15			45,000			45,000
Profit and loss account	16			108,867			128,323
Total equity				153,867			173,323
J H Lowson
Director
Approved by the board on 4 May 2023
The notes on pages 13 to 20 form an integral part of these financial statements .

J H Lowson & Company Limited
Statement of Changes in Equity
for the year ended 31 March 2023
Share			Share		Other		Profit		Total
capital			premium		reserves		and loss
account
£			£		£		£		£
At 1 April 2021		45,000		-		-		104,202		149,202
Profit for the financial year								97,121		97,121
Dividends								(73,000)		(73,000)
At 31 March 2022		45,000		-		-		128,323		173,323
At 1 April 2022		45,000		-		-		128,323		173,323
Profit for the financial year								61,724		61,724
Dividends								(81,180)		(81,180)
At 31 March 2023		45,000		-		-		108,867		153,867

J H Lowson & Company Limited
Statement of Cash Flows
for the year ended 31 March 2023
Notes			2023		2022
£				£
Operating activities
Profit for the financial year			80,888		123,621
Adjustments for:
Depreciation			1,789		1,007
Decrease/(increase) in debtors			3,126		(624)
(Decrease)/increase in creditors			(204)		730
			85,599		124,734
Interest received			164		(1)
Interest paid			(4,801)		(3,646)
Corporation tax paid			(23,005)		(18,563)
Cash generated by operating activities			57,957		102,524
Investing activities
Payments to acquire tangible fixed assets			(3,728)		-
Cash used in investing activities			(3,728)		-
Financing activities
Equity dividends paid			(81,180)		(73,000)
Repayment of loans			(4,177)		(4,473)
Cash used in financing activities			(85,357)		(77,473)
Net cash (used)/generated
Cash generated by operating activities			57,957		102,524
Cash used in investing activities			(3,728)		-
Cash used in financing activities			(85,357)		(77,473)
Net cash (used)/generated			(31,128)		25,051
Cash and cash equivalents at 1 April			116,969		91,918
Cash and cash equivalents at 31 March			85,841		116,969
Cash and cash equivalents comprise:
Cash at bank			85,841		116,969

J H Lowson & Company Limited
Notes to the Accounts
for the year ended 31 March 2023
1	Summary of significant accounting policies
	Basis of preparation
	The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
	Turnover
	The company’s turnover represents the value, of services supplied to clients during the period. Turnover represents fees and commissions, paid to the company during the year, including commission earned and paid on policies proposed and accepted on risk before the year end, wholly conducted in the United Kingdom
	Intangible fixed assets
	Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses over their economic lives as follows:-
	Goodwill	straight line over economic life of 5 years
	Tangible fixed assets

	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land and investment properties, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
	Leasehold investment properties		not depreciated

Leasehold building improvements

straight line over the lease term of 10 years

Plant and machinery

25% reducing balance

	Fixtures, fittings, and equipment		25% reducing balance
	Investment property
	Investment property is initially recognised at cost and then subsequently measured at fair value. Changes in value are recognised in profit or loss.
	Cash at bank and in hand
	Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short term liquid investments with the orginal maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within the borrowings in current liabilities.
	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.
2	Analysis of turnover					2023		2022
£							£
	Investment management services					74,949		92,572
	Fees and commissions					264,641		286,283
	Consultancy fees					6,374		5,695
	By geographical market:
	UK					345,964		384,550
3	Operating profit					2023		2022
£							£
	This is stated after charging:
	Depreciation of owned fixed assets					1,789		1,007
	Operating lease rentals - land and buildings					12,485		12,485
	Auditors' remuneration for audit services					2,310		2,120
4	Directors' emoluments					2023		2022
£							£
	Emoluments					19,110		19,997
	Highest paid director:
	Emoluments					19,110		19,997
5	Staff costs					2023		2022
£							£
	Wages and salaries					51,200		40,622
	Social security costs					3,448		412
	Other pension costs					4,009		2,813
						58,657		43,847
	Average number of employees during the year					Number	Number
	Directors					2		2
	Administration					2		2
						4		4
6	Interest payable					2023		2022
£							£
	Bank loans					4,801		3,646
7	Taxation					2023		2022
£							£
	Analysis of charge in period
	Current tax:
	UK corporation tax on profits of the period					13,907		23,005
	Deferred tax:
	Origination and reversal of timing differences					620		(152)
	Tax on profit on ordinary activities					14,527		22,853
	Factors affecting tax charge for period
	The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows:
						2023		2022
£							£
	Profit on ordinary activities before tax					76,251		119,974
	Standard rate of corporation tax in the UK					19%		19%
£							£
	Profit on ordinary activities multiplied by the standard rate of corporation tax					14,488		22,795
	Effects of:
	Other adjustments					39		58
	Current tax charge for period					14,527		22,853
8	Intangible fixed assets							£
	Goodwill:
	Cost
	At 1 April 2022							30,000
	At 31 March 2023							30,000
	Amortisation
	At 1 April 2022							30,000
	At 31 March 2023							30,000
	Carrying amount
	At 31 March 2023							-
	Goodwill was written off in equal monthly instalments over its estimated economic life of 5 years.
9	Tangible fixed assets
		Investment Property		Land and buildings		Fixtures, fittings, tools and equipment		Total
		At cost		At cost		At cost
£			£		£		£
	Cost
	At 1 April 2022	148,001		4,034		5,246		157,281
	Additions	-		-		3,728		3,728
	At 31 March 2023	148,001		4,034		8,974		161,009
	Depreciation
	At 1 April 2022	-		2,485		3,438		5,923
	Charge for the year	-		403		1,386		1,789
	At 31 March 2023	-		2,888		4,824		7,712
	Carrying amount
	At 31 March 2023	148,001		1,146		4,150		153,297
	At 31 March 2022	148,001		1,549		1,808		151,358
10	Debtors					2023		2022
£							£
	Trade debtors					-		1,400
	Prepayments and accrued income					4,119		5,863
						4,119		7,263
11	Creditors: amounts falling due within one year					2023		2022
£							£
	Bank loan					4,177		4,473
	Corporation tax					13,889		23,005
	Other taxes and social security costs					1,145		799
	Accruals and deferred income					4,840		5,390
						24,051		33,667
12	Creditors: amounts falling due after one year					2023		2022
£							£
	Bank loan					64,233		68,114
13	Loans					2023		2022
£							£
	Loans not wholly repayable within five years:
	Bank loan repayment by instalments over fifteen years					68,410		72,587
	Analysis of maturity of debt:
	Within one year or on demand					4,177		4,473
	Between one and two years					4,177		4,473
	Between two and five years					12,531		13,419
	After five years					47,525		50,222
						68,410		72,587
	The bank loan is secured on leasehold property bought in 2018 on a 125 year lease, the interest rate being 4.7% over base rate per annum, the average interest rate for the year being 7%.
14	Deferred taxation					2023		2022
£							£
	Accelerated capital allowances					1,106		486
						2023		2022
£							£
	At 1 April					486		638
	Charged/(credited) to the profit and loss account					620		(152)
	At 31 March					1,106		486
15	Share capital	Nominal		2023		2023		2022
value			Number		£		£
	Allotted, called up and fully paid:
	Ordinary shares	£1 each		45,000		45,000		45,000
16	Profit and loss account					2023		2022
£							£
	At 1 April					128,323		104,202
	Profit for the financial year					61,724		97,121
	Dividends					(81,180)		(73,000)
	At 31 March					108,867		128,323
17	Dividends					2023		2022
£							£
	Dividends on ordinary shares (note 16)					81,180		73,000
18	Other financial commitments
	Total future minimum lease payments under non-cancellable operating leases:
		Land and buildings		Land and buildings	Other		Other
		2023		2022		2023		2022
£			£		£		£
	Falling due:
	within one year	12,485		12,485		-		-
	within two to five years	24,799		36,985		-		-
		37,284		49,470		-		-
19	Related party transactions
	During the year the investment property was rented out to a related party at a peppercorn rate, a benefit in kind has been included within the financial statements.
	During the year a company connected to one of the directors charged the company £154,418 (2022 - £168,610) for their share of commissions earned in the period.
20	Controlling party
	The company is ultimately controlled by J H Lowson.
21	Presentation currency
	The financial statements are presented in Sterling, rounded to the nearest pound.
22	Legal form of entity and country of incorporation
	J H Lowson & Company Limited is a private company limited by shares and incorporated in England.
23	Principal place of business
	The address of the company's principal place of business and registered office is:
	3rd Floor
	Rosemary House
	61 North Road
	Lancaster
	LA1 1LU