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Company Registration No. 10584010 (England and Wales)
Laurels Estates Limited Unaudited accounts for the year ended 31 January 2024
Laurels Estates Limited Unaudited accounts Contents
Page
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Laurels Estates Limited Company Information for the year ended 31 January 2024
Director
Jagjit Singh Johal
Company Number
10584010 (England and Wales)
Registered Office
The Whinnies, Church Road Hartley Longfield DA3 8DJ England
Accountants
Workabee Accountants Sharon Gillett BSc FCA 11 Chestnut Avenue Buckhurst Hill Essex IG9 6EN
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Laurels Estates Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Called up share capital not paid
1 
1 
Fixed assets
Investment property
825,000 
825,000 
Current assets
Debtors
173,111 
172,982 
Cash at bank and in hand
11,530 
8,673 
184,641 
181,655 
Creditors: amounts falling due within one year
(46,540)
(45,974)
Net current assets
138,101 
135,681 
Total assets less current liabilities
963,102 
960,682 
Creditors: amounts falling due after more than one year
(597,635)
(597,140)
Provisions for liabilities
Deferred tax
(91,375)
(90,895)
Net assets
274,092 
272,647 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
274,091 
272,646 
Shareholders' funds
274,092 
272,647 
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 5 March 2024 and were signed on its behalf by
Jagjit Singh Johal Director Company Registration No. 10584010
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Laurels Estates Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Laurels Estates Limited is a private company, limited by shares, registered in England and Wales, registration number 10584010. The registered office is The Whinnies, Church Road, Hartley, Longfield, DA3 8DJ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover comprises of rental income and is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Investment property
Investment property is included at market fair value. Gains and losses are recognised in the income statement. Deferred taxation is provided on these gains and losses at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost.
4
Investment property
2024 
£ 
Fair value at 1 February 2023
825,000 
At 31 January 2024
825,000 
The valuation of the property is based on a valuation by the director.
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Laurels Estates Limited Notes to the Accounts for the year ended 31 January 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
611 
482 
Other debtors
172,500 
172,500 
173,111 
172,982 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
22,276 
22,276 
Other creditors
13,091 
14,330 
Loans from directors
8,263 
5,918 
Accruals
210 
1,050 
Deferred income
2,700 
2,400 
46,540 
45,974 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
597,635 
597,140 
Aggregate of amounts that fall due for payment after five years
508,531 
508,036 
The bank loans (mortgage) are secured against the value of the investment property.
8
Deferred taxation
2024 
2023 
£ 
£ 
Revaluation of investment property
91,707 
91,707 
Tax losses carried forward
(332)
(812)
91,375 
90,895 
2024 
2023 
£ 
£ 
Provision at start of year
90,895 
91,475 
Charged/(credited) to the profit and loss account
480 
(580)
Provision at end of year
91,375 
90,895 
9
Transactions with related parties
As at 31 January 2024, amounts owed to directors totalled £8,263 (2023: £5,918). As at 31 January 2024, amounts due from related companies, which share the same director, totalled £170,000 (2023: £170,000). No interest is charged on money owed or due, and the amounts are repayable on demand.
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Laurels Estates Limited Notes to the Accounts for the year ended 31 January 2024
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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