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REGISTERED NUMBER: 03919572 (England and Wales)















Financial Statements

for the Year Ended 31 May 2023

for

THE LAUGHING HORSE LTD

THE LAUGHING HORSE LTD (REGISTERED NUMBER: 03919572)

Contents of the Financial Statements
for the Year Ended 31 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE LAUGHING HORSE LTD

Company Information
for the Year Ended 31 May 2023







DIRECTORS: A W Marshall
J Marshall





REGISTERED OFFICE: Lloyds Bank Chambers
Hustlergate
Bradford
BD1 1UQ





REGISTERED NUMBER: 03919572 (England and Wales)





ACCOUNTANTS: Rawse, Varley & Co
Chartered Accountants
Lloyds Bank Chambers
Hustlergate
Bradford
BD1 1UQ

THE LAUGHING HORSE LTD (REGISTERED NUMBER: 03919572)

Balance Sheet
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 699 699
Investment property 6 1,292,628 1,292,628
1,293,327 1,293,327

CURRENT ASSETS
Debtors 7 1,077 443
Cash at bank 493,678 454,875
494,755 455,318
CREDITORS
Amounts falling due within one year 8 49,737 46,864
NET CURRENT ASSETS 445,018 408,454
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,738,345

1,701,781

PROVISIONS FOR LIABILITIES 200,886 200,886
NET ASSETS 1,537,459 1,500,895

CAPITAL AND RESERVES
Called up share capital 9 700 700
Retained earnings 10 1,536,759 1,500,195
SHAREHOLDERS' FUNDS 1,537,459 1,500,895

THE LAUGHING HORSE LTD (REGISTERED NUMBER: 03919572)

Balance Sheet - continued
31 May 2023


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 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 25 July 2023 and were signed on its behalf by:





A W Marshall - Director


THE LAUGHING HORSE LTD (REGISTERED NUMBER: 03919572)

Notes to the Financial Statements
for the Year Ended 31 May 2023


1. STATUTORY INFORMATION

The Laughing Horse Ltd 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.

Property income
Property income represents gross rents receivable, excluding value added tax.

Tangible fixed assets
Tangible fixed assets are stated at cost less depreciation.

Depreciation is calculated to write off the assets over their estimated useful lives at the following annual rates:

Fixtures and fittings - 10% of cost
Office equipment - 20% of 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 NIL (2022 - NIL).

THE LAUGHING HORSE LTD (REGISTERED NUMBER: 03919572)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 June 2022
and 31 May 2023 26,176
DEPRECIATION
At 1 June 2022
and 31 May 2023 26,176
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2022
and 31 May 2023 699
NET BOOK VALUE
At 31 May 2023 699
At 31 May 2022 699

The company owns the whole of the issued share capital of Denley Engineering Co (Heckmondwike) Limited which does not trade.

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 1,292,628
NET BOOK VALUE
At 31 May 2023 1,292,628
At 31 May 2022 1,292,628

Freehold investment property is stated at directors' estimate of fair valuation.
If the property had not been revalued, it would have been stated at the historical cost to the company of £672,428 (2021 - £672,428).

THE LAUGHING HORSE LTD (REGISTERED NUMBER: 03919572)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Prepayments and accrued income 1,077 443

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 11,646 11,646
Corporation tax 28,281 26,238
Social security and other taxes 7,425 6,895
Directors' current account 216 216
Accruals and deferred income 2,169 1,869
49,737 46,864

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
700 Ordinary 1 700 700

10. RESERVES

Retained earnings include non-distributable amounts of approximately £848,000 relating to unrealised gains on property revaluations, stated net of attributable deferred taxation.

11. RELATED PARTY TRANSACTIONS

Dividends of £84,000 (2022 - £84,000) were paid to the directors for the year.