Lawn Park Properties Limited SC268944 false 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is Other Letting And Operating Of Own Or L Digita Accounts Production Advanced 6.30.9574.0 true SC268944 2022-07-01 2023-06-30 SC268944 2023-06-30 SC268944 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-06-30 SC268944 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 SC268944 core:LandBuildings 2023-06-30 SC268944 bus:SmallEntities 2022-07-01 2023-06-30 SC268944 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 SC268944 bus:FullAccounts 2022-07-01 2023-06-30 SC268944 bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 SC268944 bus:RegisteredOffice 2022-07-01 2023-06-30 SC268944 bus:Director2 2022-07-01 2023-06-30 SC268944 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-07-01 2023-06-30 SC268944 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 SC268944 core:LandBuildings 2022-07-01 2023-06-30 SC268944 countries:Scotland 2022-07-01 2023-06-30 SC268944 2022-06-30 SC268944 core:LandBuildings 2022-06-30 SC268944 2021-07-01 2022-06-30 SC268944 2022-06-30 SC268944 bus:OrdinaryShareClass1 bus:CumulativeShares 2022-06-30 SC268944 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 SC268944 core:LandBuildings 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC268944

Lawn Park Properties Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Lawn Park Properties Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Lawn Park Properties Limited

Company Information

Director

Mr Baljit Singh Lalli

Registered office

4 Lawn Park
Milngavie
Lanarkshire
G62 6HG

Accountants

Clyde Business Services
Accountants
159 King Street
Glasgow
Lanarkshire
G73 1BZ

 

Lawn Park Properties Limited

(Registration number: SC268944)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

160,219

160,219

Current assets

 

Cash at bank and in hand

 

5,214

1,488

Creditors: Amounts falling due within one year

5

(189,164)

(207,868)

Net current liabilities

 

(183,950)

(206,380)

Net liabilities

 

(23,731)

(46,161)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

(23,831)

(46,261)

Shareholders' deficit

 

(23,731)

(46,161)

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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 19 December 2023
 

.........................................
Mr Baljit Singh Lalli
Director

 

Lawn Park Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
4 Lawn Park
Milngavie
Lanarkshire
G62 6HG
United Kingdom

These financial statements were authorised for issue by the director on 19 December 2023.

2

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

 

Lawn Park Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 July 2022

160,219

160,219

At 30 June 2023

160,219

160,219

Depreciation

Carrying amount

At 30 June 2023

160,219

160,219

At 30 June 2022

160,219

160,219

Included within the net book value of land and buildings above is £160,219 (2022 - £160,219) in respect of freehold land and buildings.
 

 

Lawn Park Properties Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

240

240

Other creditors

188,924

207,628

189,164

207,868

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100