FREDERICK LAWTHER LIMITED - Accounts to registrar (filleted) - small 23.1.2

FREDERICK LAWTHER LIMITED - Accounts to registrar (filleted) - small 23.1.2

FREDERICK LAWTHER LIMITED - Company Information

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REGISTERED NUMBER: 02161977 (England and Wales)








FREDERICK LAWTHER LIMITED

Financial Statements

for the Year Ended 31 July 2023






FREDERICK LAWTHER LIMITED (Registered number: 02161977)






Contents of the Financial Statements
for the year ended 31 July 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


FREDERICK LAWTHER LIMITED

Company Information
for the year ended 31 July 2023







DIRECTORS: P Suddaby
M Suddaby





SECRETARY: P Suddaby





REGISTERED OFFICE: Apartment 1
28 Victoria Avenue
Harrogate
North Yorkshire
HG1 5PR





REGISTERED NUMBER: 02161977 (England and Wales)
Page 1
FREDERICK LAWTHER LIMITED (Registered number: 02161977)

Statement of Financial Position
31 July 2023

31/7/23 31/7/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 541 807
Investments 5 150,120 120
Investment property 6 654,000 654,000
804,661 654,927

CURRENT ASSETS
Debtors 7 828 883
Cash at bank 11,067 7,262
11,895 8,145
CREDITORS
Amounts falling due within one year 8 24,828 29,905
NET CURRENT LIABILITIES (12,933 ) (21,760 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
791,728
633,167

CREDITORS
Amounts falling due after more than one
year
9
(316,000
)
(166,000
)

PROVISIONS FOR LIABILITIES (39,000 ) (39,000 )
NET ASSETS 436,728 428,167

CAPITAL AND RESERVES
Called up share capital 135,000 135,000
Fair value reserve 10 331,026 331,026
Retained earnings (29,298 ) (37,859 )
SHAREHOLDERS' FUNDS 436,728 428,167

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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 notes form part of these financial statements

Page 2 continued...
FREDERICK LAWTHER LIMITED (Registered number: 02161977)

Statement of Financial Position - continued
31 July 2023


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 26 January 2024 and were signed on its behalf by:





P Suddaby - Director


The notes form part of these financial statements

Page 3
FREDERICK LAWTHER LIMITED (Registered number: 02161977)

Notes to the Financial Statements
for the year ended 31 July 2023

1. STATUTORY INFORMATION

FREDERICK LAWTHER 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.

Revenue recognition
Revenue comprises rent receivable on commercial and domestic properties. Other income comprises dividend and interest receipts from investments.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% 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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Page 4 continued...
FREDERICK LAWTHER LIMITED (Registered number: 02161977)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2022 1,520
Disposals (458 )
At 31 July 2023 1,062
DEPRECIATION
At 1 August 2022 713
Charge for year 265
Eliminated on disposal (457 )
At 31 July 2023 521
NET BOOK VALUE
At 31 July 2023 541
At 31 July 2022 807

5. FIXED ASSET INVESTMENTS

31/7/23 31/7/22
£    £   
Shares in group undertakings 120 120
Loans to undertakings in which the company
has a participating interest
150,000
-
150,120 120

Additional information is as follows:
Shares in
group
undertakings
£   
COST
At 1 August 2022
and 31 July 2023 120
NET BOOK VALUE
At 31 July 2023 120
At 31 July 2022 120
Loans to
associates
£   
New in year 150,000
At 31 July 2023 150,000

Page 5 continued...
FREDERICK LAWTHER LIMITED (Registered number: 02161977)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

5. FIXED ASSET INVESTMENTS - continued

At 31 July 2023 and 2022 the company held 60 "A" and 60 "C" £1 Ordinary shares in FLL Investments Limited at a cost of £120.

The total issued share capital of FLL Investments Limited comprises 100 "A", 50 "B" and £100 "C" £1 Ordinary shares. The "A" shares carry full voting rights and entitlement to a return of assets whether on liquidation, capital reduction or otherwise. The "B" and "C" shares carry no voting rights and have no entitlement to a return of assets.

On 5 September 2022 the company loaned FLL Investments Limited £150,000 repayable on 5 September 2032 or earlier if demanded. The directors confirm that there are no plans to demand early repayment of the loan. No interest is charged on the loan up to 5 September 2024 following which the position is to be reviewed annually.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 August 2022
and 31 July 2023 654,000
NET BOOK VALUE
At 31 July 2023 654,000
At 31 July 2022 654,000

Fair value at 31 July 2023 is represented by:
£   
Valuation in 2007 266,725
Valuation in 2019 64,301
Cost 322,974
654,000

If investment property had not been revalued it would have been included at the following historical cost:

31/7/23 31/7/22
£    £   
Cost 322,974 322,974

Investment property was valued on an open market basis on 31 July 2023 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Other debtors 828 883

Page 6 continued...
FREDERICK LAWTHER LIMITED (Registered number: 02161977)

Notes to the Financial Statements - continued
for the year ended 31 July 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Amounts owed to group undertakings - 120
Taxation and social security 6,437 5,085
Other creditors 18,391 24,700
24,828 29,905

Other creditors include directors' current account balances of £15,273 (2022 - £17,179) which are interest free and repayable on demand.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/7/23 31/7/22
£    £   
Other creditors 316,000 166,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans 150,000 -

Interest at an annual rate of 2.165% is charged in respect of the directors' loans. Interest is accrued on a daily basis and is payable within one year from the balance sheet date. The directors' loans are repayable after more than one year from the balance sheet date but with no other fixed term for repayment.

On 31 August 2022 the company received loans totalling £150,000 from shareholders repayable on 31 August 2032 or earlier if demanded. The directors confirm that the lenders have no plans to demand early repayment of the loans. No interest is charged on the loans up to 31 August 2024 following which the position is to be reviewed annually.

10. RESERVES
Fair
value
reserve
£   
At 1 August 2022
and 31 July 2023 331,026

Page 7