2022-04-012023-03-312023-03-31false08818200Lars (Holdings) 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Lars (Holdings) Limited

Registered Number
08818200
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

Lars (Holdings) Limited
Company Information
for the year from 1 April 2022 to 31 March 2023

Director

PEARSON Stephen Glen

Registered Address

Unit 1 Keer Bridge Depot
Scotland Road
Carnforth
LA5 9RQ

Registered Number

08818200 (England and Wales)
Lars (Holdings) Limited
Statement of Financial Position
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets61,551,8561,576,497
Investments7103103
1,551,9591,576,600
Current assets
Debtors9182,272785
Cash at bank and on hand144,217100,803
326,489101,588
Creditors amounts falling due within one year10(567,066)(340,093)
Net current assets (liabilities)(240,577)(238,505)
Total assets less current liabilities1,311,3821,338,095
Creditors amounts falling due after one year11(91,914)(129,224)
Provisions for liabilities12(130,500)(131,800)
Net assets1,088,9681,077,071
Capital and reserves
Called up share capital66
Profit and loss account1,088,9621,077,065
Shareholders' funds1,088,9681,077,071
The financial statements were approved and authorised for issue by the Director on 19 October 2023, and are signed on its behalf by:
PEARSON Stephen Glen
Director
Registered Company No. 08818200
Lars (Holdings) Limited
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Smallest group in which results are consolidated
The company, and the group headed by it, qualify as a small group as such the parent and the group are exempt from producing group accounts.
3.Basis of measurement used in financial statements
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-50
Vehicles30-
Taxation policy
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 policy
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.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.
Valuation of financial instruments policy
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
5.Employee information

20232022
Average number of employees during the year11
6.Property, plant and equipment

Land & buildings

Vehicles

Total

£££
Cost or valuation
At 01 April 221,768,50337,0021,805,505
Additions15,110-15,110
At 31 March 231,783,61337,0021,820,615
Depreciation and impairment
At 01 April 22204,30724,701229,008
Charge for year33,6006,15139,751
At 31 March 23237,90730,852268,759
Net book value
At 31 March 231,545,7066,1501,551,856
At 31 March 221,564,19612,3011,576,497
7.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 April 22103103
At 31 March 23103103
Net book value
At 31 March 23103103
At 31 March 22103103

Notes

1Investments in group undertakings and participating interests
8.Description of nature of transactions and balances with related parties
On 1 April 2022 the company owed the Director £299,587. During the period the company received further advances of £9,277 . At 31 March 2023 the company owed the Director £308,864. No interest was charged on this loan and the loan is repayable on demand.
9.Debtors

2023

2022

££
Trade debtors / trade receivables30,200135
Amounts owed by group undertakings150,000-
Prepayments and accrued income2,072650
Total182,272785
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables2,742135
Bank borrowings and overdrafts34,00034,000
Amounts owed to related parties195,000-
Taxation and social security23,9603,870
Other creditors308,864299,587
Accrued liabilities and deferred income2,5002,501
Total567,066340,093
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Bank loans are secured by a fixed and floating charge over the company's assets.
11.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts91,914129,224
Total91,914129,224
Bank loans are secured by a fixed and floating charge over the company's assets.
12.Provisions for liabilities
The deferred tax provision in the current and prior year relates to accelerated capital allowances.

2023

2022

££
Net deferred tax liability (asset)130,500131,800
Total130,500131,800