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REGISTERED NUMBER: 09854269 (England and Wales)







Unaudited Financial Statements for the Year Ended 31 March 2023

for

Laincar Limited

Laincar Limited (Registered number: 09854269)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Laincar Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Ms D Laing
Mr A Laing





REGISTERED OFFICE: Woodlands Grange
Woodlands Lane
Bradley Stoke
City of Bristol
BS32 4JY





REGISTERED NUMBER: 09854269 (England and Wales)





ACCOUNTANTS: Dunkley's
Woodlands Grange
Woodlands Lane
Bradley Stoke
Bristol
BS32 4JY

Laincar Limited (Registered number: 09854269)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 6,075,746 5,979,309

CURRENT ASSETS
Debtors 5 122,664 119,858
Cash at bank 80,000 62,600
202,664 182,458
CREDITORS
Amounts falling due within one year 6 69,006 58,986
NET CURRENT ASSETS 133,658 123,472
TOTAL ASSETS LESS CURRENT LIABILITIES 6,209,404 6,102,781

CREDITORS
Amounts falling due after more than one year 7 (4,112,961 ) (4,117,489 )

PROVISIONS FOR LIABILITIES (223,686 ) (199,577 )
NET ASSETS 1,872,757 1,785,715

CAPITAL AND RESERVES
Called up share capital 9 196,234 196,234
Share premium 10 990,748 990,748
Retained earnings 10 685,775 598,733
SHAREHOLDERS' FUNDS 1,872,757 1,785,715

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Laincar Limited (Registered number: 09854269)

Balance Sheet - continued
31 March 2023


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 30 January 2024 and were signed on its behalf by:





Mr A Laing - Director


Laincar Limited (Registered number: 09854269)

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

1. STATUTORY INFORMATION

Laincar Limited 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover consists of rents receivable. Revenue is recognised evenly over the rental period.

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).

Laincar Limited (Registered number: 09854269)

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022 5,979,309
Revaluations 96,437
At 31 March 2023 6,075,746
NET BOOK VALUE
At 31 March 2023 6,075,746
At 31 March 2022 5,979,309

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2022 798,309
Valuation in 2023 96,437
Cost 5,181,000
6,075,746

If the investment properties had not been revalued they would have been included at the following historical cost:

31.3.23 31.3.22
£    £   
Cost 5,181,000 5,181,000

The investment properties were valued on an open market basis on 31 March 2023 by the directors .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Other debtors 22,593 -
Directors' current accounts 76,546 94,333
Tax 23,525 25,525
122,664 119,858

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 5,000 5,000
Trade creditors 3,462 -
Tax 58,744 38,247
Other creditors - 10,000
Accrued expenses 1,800 5,739
69,006 58,986

Laincar Limited (Registered number: 09854269)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 5,000 5,000
Bank loans - 2-5 years 15,000 20,000
Bank loans more 5 yr by instal 15,833 15,361
Bank loans more 5 yrs non-inst 4,077,128 4,077,128
4,112,961 4,117,489

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 4,077,128 4,077,128

Repayable by instalments
Bank loans more 5 yr by instal 15,833 15,361

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 4,117,961 4,122,489

The bank loans are secured on the properties owned by the companies.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
150,000 Ordinary A £1 150,000 150,000
9,006 Ordinary B £1 12,627 12,627
23,968 Ordinary C £1 33,607 33,607
196,234 196,234

10. RESERVES
Retained Share
earnings premium Totals
£    £    £   

At 1 April 2022 598,733 990,748 1,589,481
Profit for the year 173,221 173,221
Dividends (86,179 ) (86,179 )
At 31 March 2023 685,775 990,748 1,676,523

Non-distributable reserves as at 31/03/2023 are £671,060 (2021:£598,732)

Laincar Limited (Registered number: 09854269)

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

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23 31.3.22
£    £   
Ms D Laing and Mr A Laing
Balance outstanding at start of year 94,333 21,947
Amounts advanced - 94,333
Amounts repaid (19,478 ) (21,947 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 74,855 94,333