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REGISTERED NUMBER: SC529170 (Scotland)












LARA PROPERTIES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023






LARA PROPERTIES LIMITED (REGISTERED NUMBER: SC529170)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 6

LARA PROPERTIES LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTORS: Mrs R K Sood
Mr A Sood





SECRETARY:





REGISTERED OFFICE: 21 Hunter Street
East Kilbride
Glasgow
G74 4LZ





REGISTERED NUMBER: SC529170 (Scotland)





ACCOUNTANTS: Craig Cleland, Chartered Accountants
21 Hunter Street
East Kilbride
G74 4LZ

LARA PROPERTIES LIMITED (REGISTERED NUMBER: SC529170)

BALANCE SHEET
31 March 2023

Notes £    £   
FIXED ASSETS
Tangible assets 4 733
Investment property 5 1,477,410
1,478,143

CURRENT ASSETS
Debtors 6 150
Cash at bank 20,674
20,824
CREDITORS
Amounts falling due within one year 7 467,003
NET CURRENT LIABILITIES (446,179 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,031,964

CREDITORS
Amounts falling due after more than one
year

8

862,561
NET ASSETS 169,403

CAPITAL AND RESERVES
Called up share capital 100
Retained earnings 9 169,303
169,403

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

LARA PROPERTIES LIMITED (REGISTERED NUMBER: SC529170)

BALANCE SHEET - continued
31 March 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 5 October 2023 and were signed on its behalf by:





Mr A Sood - Director


LARA PROPERTIES LIMITED (REGISTERED NUMBER: SC529170)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Lara Properties Limited is a private company, limited by shares , registered in Scotland. 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.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2022 1,478
Additions 1,099
Disposals (999 )
At 31 March 2023 1,578
DEPRECIATION
At 1 April 2022 1,145
Charge for year 366
Eliminated on disposal (666 )
At 31 March 2023 845
NET BOOK VALUE
At 31 March 2023 733
At 31 March 2022 333

LARA PROPERTIES LIMITED (REGISTERED NUMBER: SC529170)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 1,350,904
Additions 126,506
At 31 March 2023 1,477,410
NET BOOK VALUE
At 31 March 2023 1,477,410
At 31 March 2022 1,350,904

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade debtors 150

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Bank loans and overdrafts 79,870
Hire purchase contracts 464
Taxation and social security 9,677
Other creditors 376,992
467,003

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Bank loans 862,174
Hire purchase contracts 387
862,561

9. RESERVES
Retained
earnings
£   

At 1 April 2022 131,319
Profit for the year 41,984
Dividends (4,000 )
At 31 March 2023 169,303

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LARA PROPERTIES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.


In accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Act 2006, we have prepared the financial statements of the company for the year ended 31 March 2023 on pages to from the accounting records and information and explanations supplied to us.

This report is made to the company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken to enable us to prepare the financial statements on behalf of the company's Board of Directors 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 Board of Directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with best practice guidance issued by the Institute of Chartered Accountants of Scotland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the preparation of financial statements.

You have acknowledged on the Balance Sheet as at 31 March 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.






Craig Cleland, Chartered Accountants
21 Hunter Street
East Kilbride
G74 4LZ


5 October 2023