0 31/01/2023 2023-01-31 false false false false true false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-02-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 03898390 2022-02-01 2023-01-31 03898390 2023-01-31 03898390 2022-01-31 03898390 2021-02-01 2022-01-31 03898390 2022-01-31 03898390 2021-01-31 03898390 core:PlantMachinery 2022-02-01 2023-01-31 03898390 bus:RegisteredOffice 2022-02-01 2023-01-31 03898390 bus:LeadAgentIfApplicable 2022-02-01 2023-01-31 03898390 bus:Director1 2022-02-01 2023-01-31 03898390 bus:Director2 2022-02-01 2023-01-31 03898390 core:PlantMachinery 2022-01-31 03898390 core:PlantMachinery 2023-01-31 03898390 core:WithinOneYear 2023-01-31 03898390 core:WithinOneYear 2022-01-31 03898390 core:AfterOneYear 2023-01-31 03898390 core:AfterOneYear 2022-01-31 03898390 core:RetainedEarningsAccumulatedLosses 2021-02-01 2022-01-31 03898390 core:RetainedEarningsAccumulatedLosses 2022-02-01 2023-01-31 03898390 core:ShareCapital 2023-01-31 03898390 core:ShareCapital 2022-01-31 03898390 core:SharePremium 2023-01-31 03898390 core:SharePremium 2022-01-31 03898390 core:RetainedEarningsAccumulatedLosses 2023-01-31 03898390 core:RetainedEarningsAccumulatedLosses 2022-01-31 03898390 core:ShareCapital 2021-01-31 03898390 core:SharePremium 2021-01-31 03898390 core:RetainedEarningsAccumulatedLosses 2021-01-31 03898390 core:CostValuation core:Non-currentFinancialInstruments 2022-01-31 03898390 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-01-31 03898390 core:CostValuation core:Non-currentFinancialInstruments 2023-01-31 03898390 core:Non-currentFinancialInstruments 2023-01-31 03898390 core:Non-currentFinancialInstruments 2022-01-31 03898390 core:PlantMachinery 2022-01-31 03898390 bus:SmallEntities 2022-02-01 2023-01-31 03898390 bus:Audited 2022-02-01 2023-01-31 03898390 bus:FullAccounts 2022-02-01 2023-01-31 03898390 bus:SmallCompaniesRegimeForAccounts 2022-02-01 2023-01-31 03898390 bus:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31
Company registration number: 03898390
L. A. PROPERTIES (UK) LIMITED
Filleted financial statements
31 January 2023
Pearlman Rose
Chartered Accountants
39-40 Skylines Village
Limeharbour
London E14 9TS
L. A. PROPERTIES (UK) LIMITED
Contents
Directors and other information
Directors responsibilities statement
Statement of financial position
Statement of changes in equity
Notes to the financial statements
L. A. PROPERTIES (UK) LIMITED
Directors and other information
Directors Mr L Hussain
Mrs S Hussain
Company number 03898390
Registered office 39-40 Skylines Village
Limeharbour, Docklands
London
E14 9TS
Auditor Pearlman Rose
39-40 Skylines Village
Limeharbour, Docklands
London
E14 9TS
Accountants Pearlman Rose
39-40 Skylines Village
Limeharbour, Docklands
London
E14 9TS
Bankers Lloyds Bank Plc
39 Piccadilly
Mayfair
London
W1V 0AA
L. A. PROPERTIES (UK) LIMITED
Directors responsibilities statement
Year ended 31 January 2023
The directors are responsible for preparing the directors report and the 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 (United Kingdom Accounting Standards 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 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 judgments and accounting estimates that are reasonable and prudent; and
- 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.
L. A. PROPERTIES (UK) LIMITED
Statement of financial position
31 January 2023
31/01/23 31/01/22
Note £ £ £ £
Fixed assets
Tangible assets 4 347,823 386,470
Investments 5 25,648,070 24,400,921
_______ _______
25,995,893 24,787,391
Current assets
Debtors 6 609,082 459,139
Cash at bank and in hand 252,916 1,159,324
_______ _______
861,998 1,618,463
Creditors: amounts falling due
within one year 7 ( 540,787) ( 1,143,090)
_______ _______
Net current assets 321,211 475,373
_______ _______
Total assets less current liabilities 26,317,104 25,262,764
Creditors: amounts falling due
after more than one year 8 ( 12,740,506) ( 12,010,557)
_______ _______
Net assets 13,576,598 13,252,207
_______ _______
Capital and reserves
Called up share capital 1,000 1,000
Share premium account 11,834,756 11,834,756
Profit and loss account 1,740,842 1,416,451
_______ _______
Shareholders funds 13,576,598 13,252,207
_______ _______
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 07 July 2023 , and are signed on behalf of the board by:
Mr L Hussain
Director
Company registration number: 03898390
L. A. PROPERTIES (UK) LIMITED
Statement of changes in equity
Year ended 31 January 2023
Called up share capital Share premium account Profit and loss account Total
£ £ £ £
At 1 February 2021 1,000 11,834,756 1,195,686 13,031,442
Profit for the year 220,765 220,765
_______ _______ _______ _______
Total comprehensive income for the year - - 220,765 220,765
_______ _______ _______ _______
At 31 January 2022 and 1 February 2022 1,000 11,834,756 1,416,451 13,252,207
Profit for the year 324,391 324,391
_______ _______ _______ _______
Total comprehensive income for the year - - 324,391 324,391
_______ _______ _______ _______
At 31 January 2023 1,000 11,834,756 1,740,842 13,576,598
_______ _______ _______ _______
L. A. PROPERTIES (UK) LIMITED
Notes to the financial statements
Year ended 31 January 2023
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 39-40 Skylines Village, Limeharbour, Docklands, London, E14 9TS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 10 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Tangible assets
Plant and machinery Total
£ £
Cost
At 1 February 2022 and 31 January 2023 506,846 506,846
_______ _______
Depreciation
At 1 February 2022 120,376 120,376
Charge for the year 38,647 38,647
_______ _______
At 31 January 2023 159,023 159,023
_______ _______
Carrying amount
At 31 January 2023 347,823 347,823
_______ _______
At 31 January 2022 386,470 386,470
_______ _______
5. Investments
Shares in group undertakings and participating interests Other investments other than loans Total
£ £ £
Cost
At 1 February 2022 100 24,400,821 24,400,921
Additions - 1,247,149 1,247,149
_______ _______ _______
At 31 January 2023 100 25,647,970 25,648,070
_______ _______ _______
Impairment
At 1 February 2022 and 31 January 2023 - - -
_______ _______ _______
Carrying amount
At 31 January 2023 100 25,647,970 25,648,070
_______ _______ _______
At 31 January 2022 100 24,400,821 24,400,921
_______ _______ _______
6. Debtors
31/01/23 31/01/22
£ £
Trade debtors 3,299 2,939
Amounts owed by group undertakings and undertakings in which the company has a participating interest 578,400 453,400
Other debtors 27,383 2,800
_______ _______
609,082 459,139
_______ _______
7. Creditors: amounts falling due within one year
31/01/23 31/01/22
£ £
Bank loans and overdrafts 393,471 399,672
Amounts owed to group undertakings and undertakings in which the company has a participating interest - 520,529
Corporation tax 78,335 158,855
Other creditors 68,981 64,034
_______ _______
540,787 1,143,090
_______ _______
8. Creditors: amounts falling due after more than one year
31/01/23 31/01/22
£ £
Bank loans and overdrafts 12,261,977 11,910,557
Amounts owed to group undertakings and undertakings in which the company has a participating interest 378,529 -
Other creditors 100,000 100,000
_______ _______
12,740,506 12,010,557
_______ _______
The bank loans are secured on the Investment Properties.
9. Summary audit opinion
The auditor's report for the year dated 18 July 2023 was unqualified.
The senior statutory auditor was Mohammad Jilani for and on behalf of Pearlman Rose