Acorah Software Products - Accounts Production 14.5.601 false true true 30 June 2022 1 July 2021 false 1 July 2022 30 June 2023 30 June 2023 11404117 Mr Leigh Ireland Mr Leigh Ireland true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11404117 2022-06-30 11404117 2023-06-30 11404117 2022-07-01 2023-06-30 11404117 frs-core:CurrentFinancialInstruments 2023-06-30 11404117 frs-core:Non-currentFinancialInstruments 2023-06-30 11404117 frs-core:FurnitureFittings 2023-06-30 11404117 frs-core:FurnitureFittings 2022-07-01 2023-06-30 11404117 frs-core:FurnitureFittings 2022-06-30 11404117 frs-core:InvestmentPropertyIncludedWithinPPE 2023-06-30 11404117 frs-core:InvestmentPropertyIncludedWithinPPE 2022-06-30 11404117 frs-core:ShareCapital 2023-06-30 11404117 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 11404117 frs-bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 11404117 frs-bus:FilletedAccounts 2022-07-01 2023-06-30 11404117 frs-bus:SmallEntities 2022-07-01 2023-06-30 11404117 frs-bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 11404117 frs-bus:SmallCompaniesRegimeForAccounts 2022-07-01 2023-06-30 11404117 1 2022-07-01 2023-06-30 11404117 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-06-30 11404117 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-06-30 11404117 frs-bus:Director1 2022-07-01 2023-06-30 11404117 frs-countries:EnglandWales 2022-07-01 2023-06-30 11404117 2021-06-30 11404117 2022-06-30 11404117 2021-07-01 2022-06-30 11404117 frs-core:CurrentFinancialInstruments 2022-06-30 11404117 frs-core:Non-currentFinancialInstruments 2022-06-30 11404117 frs-core:ShareCapital 2022-06-30 11404117 frs-core:RetainedEarningsAccumulatedLosses 2022-06-30 11404117 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-06-30
Registered number: 11404117
LAI Property Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2023
Optimise Accountants Ltd
Office 15 Bramley House 2a
Bramley Road
Long Eaton
Nottinghamshire
NG10 3SX
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11404117
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 347,385 347,482
347,385 347,482
CURRENT ASSETS
Debtors 5 119 -
Cash at bank and in hand 2,314 1,313
2,433 1,313
Creditors: Amounts Falling Due Within One Year 6 (272,472 ) (272,159 )
NET CURRENT ASSETS (LIABILITIES) (270,039 ) (270,846 )
TOTAL ASSETS LESS CURRENT LIABILITIES 77,346 76,636
Creditors: Amounts Falling Due After More Than One Year 7 (90,000 ) (90,000 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (680 ) (680 )
NET LIABILITIES (13,334 ) (14,044 )
CAPITAL AND RESERVES
Called up share capital 9 1 1
Fair Value Reserve 10 (10,251 ) (10,251 )
Profit and Loss Account (3,084 ) (3,794 )
SHAREHOLDERS' FUNDS (13,334) (14,044)
Page 1
Page 2
For the 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.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Leigh Ireland
Director
10/04/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
LAI Property Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11404117 . The registered office is Office 15 Bramley House 2a, Bramley Road,Long Eaton, Nottinghamshire, United Kingdom, NG10 3SX.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The director has not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% on a reducing balance basis
2.5. Investment Properties
All Investment properties are measured at fair value determined annually and adjusted if necessary for any difference in the nature, location or condition of the specific asset. The fair value of property was obtained from an online property resource company and has not been based on a valuation by an independent valuer with a professional qualification.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2023 2022
Office and administration 1 1
1 1
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4. Tangible Assets
Investment Properties Fixtures & Fittings Total
£ £ £
Cost
As at 1 July 2022 347,000 1,096 348,096
As at 30 June 2023 347,000 1,096 348,096
Depreciation
As at 1 July 2022 - 614 614
Provided during the period - 97 97
As at 30 June 2023 - 711 711
Net Book Value
As at 30 June 2023 347,000 385 347,385
As at 1 July 2022 347,000 482 347,482
5. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 59 -
Other debtors 60 -
119 -
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Director's loan account 272,472 272,159
272,472 272,159
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 90,000 90,000
90,000 90,000
8. Secured Creditors
Of the creditors falling due within and after more than one year the following amounts are secured.
The below bank loans are secured on 43, Paddock View an investment property. 
They are interest only with a term of 25 years.
2023 2022
£ £
Bank loans and overdrafts 90,000 90,000
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9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
10. Reserves
Fair Value Reserve
£
As at 1 July 2022 (10,251 )
As at 30 June 2023 (10,251 )
11. Ultimate Controlling Party
The company's ultimate controlling party is Mr Leigh Ireland by virtue of his ownership of 100% of the issued share capital in the company.
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