Ludlow Trust Holdings (UK) Ltd - Period Ending 2023-06-30
Ludlow Trust Holdings (UK) Ltd - Period Ending 2023-06-30
Registration number:
Ludlow Trust Holdings (UK) Ltd
for the Year Ended 30 June 2023
Ludlow Trust Holdings (UK) Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Ludlow Trust Holdings (UK) Ltd
Company Information
Directors |
Mr Matthew John Wickers Mr David Nicholas George Hughes Ms Ziba C S Sarikhani Mrs Janet Treacy Pierce Mr Christopher Ian Thurlow |
Registered office |
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Ludlow Trust Holdings (UK) Ltd
(Registration number: 13680568)
Balance Sheet as at 30 June 2023
Note |
2023 |
2022 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Net assets |
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Capital and reserves |
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Called up share capital |
1,000 |
1,000 |
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Share premium reserve |
12,710,959 |
12,710,959 |
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Retained earnings |
53,432 |
(81,443) |
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Shareholders' funds |
12,765,391 |
12,630,516 |
For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Ludlow Trust Holdings (UK) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
U.K.
These financial statements were authorised for issue by the
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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
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.
Group accounts not prepared
Going concern
The financial statements have been prepared on a going concern basis.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current 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.
Ludlow Trust Holdings (UK) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
At present all intra-group loans are interest free and repayable on demand.
Ludlow Trust Holdings (UK) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons in the company (including directors) during the year, was
Investments |
2023 |
2022 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 July 2022 |
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Additions |
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At 30 June 2023 |
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Carrying amount |
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At 30 June 2023 |
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At 30 June 2022 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Ludlow Trust Holdings (UK) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
Undertaking |
Registered office |
Holding |
Proportion of voting rights held |
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2023 |
2022 |
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Subsidiary undertakings |
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8th Floor 1 Southampton Street, London, United Kingdom, WC2R 0LR England |
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8th Floor 1 Southampton Street, London, United Kingdom, WC2R 0LR England |
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Subsidiary undertakings |
Ludlow Trust Company Limited The principal activity of Ludlow Trust Company Limited is |
Charter Tax (Accounting) Limited The principal activity of Charter Tax (Accounting) Limited is |
Debtors |
Current |
Note |
2023 |
2022 |
Amounts owed by related parties |
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Prepayments |
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5,328,197 |
1,828,197 |
Ludlow Trust Holdings (UK) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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- |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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- |
Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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|
|
1,000 |
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1,000 |
Financial commitments, guarantees and contingencies |
Amounts disclosed in the balance sheet
Included in the balance sheet are financial commitments of £4,250,000 (2022 - £Nil). The company has a loan facility with Natwest Bank Plc.
The loan is secured by way of a charge at Companies House over the company's assets.