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Registered number: 13897484
Labrika Limited
Directors' Report and
Unaudited Financial Statements
For The Year Ended 29 February 2024
Directors' Report and Unaudited Financial Statements
Contents
Page
Company Information 1
Directors' Report 2
Accountants' Report 3
Statement of Income and Retained Earnings 4
Balance Sheet 5—6
Notes to the Financial Statements 7—9
Page 1
Company Information
Directors M W Graaf Van Rechteren
P L Gravin Van Rechteren Limpurg
Company Number 13897484
Registered Office Bank House, 81 St Judes Road
Englefield Green
TW20 0DF
Accountants Exceed Accountants Limited
Bank House, 81 St Judes Road
Englefield Green
TW20 0DF
Page 1
Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 29 February 2024.
Principal Activity
The company's principal activity continues to be that of buying and selling of own real estate.
Directors
The directors who held office during the year were as follows:
M W Graaf Van Rechteren
P L Gravin Van Rechteren Limpurg
Small Company Rules
This report has 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.
On behalf of the board
M W Graaf Van Rechteren
Director
11/04/2024
Page 2
Page 3
Accountants' Report
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 29 February 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
11/04/2024
Exceed Accountants Limited
Bank House, 81 St Judes Road
Englefield Green
TW20 0DF
Page 3
Page 4
Statement of Income and Retained Earnings
29 February 2024 28 February 2023
Notes £ £
TURNOVER 20,433 12,564
Cost of sales (2,732 ) (2,586 )
GROSS PROFIT 17,701 9,978
Administrative expenses (18,953 ) (5,679 )
OPERATING (LOSS)/PROFIT (1,252 ) 4,299
Interest payable and similar charges (14,400 ) (8,395 )
LOSS FOR THE FINANCIAL YEAR (15,652 ) (4,096 )
RETAINED EARNINGS
As at 1 March 2023 (4,096 ) -
As at 29 February 2024 (19,748 ) (4,096 )
The notes on pages 7 to 9 form part of these financial statements.
Page 4
Page 5
Balance Sheet
29 February 2024 28 February 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 571,463 571,463
571,463 571,463
CURRENT ASSETS
Debtors 5 3,100 1,500
Cash at bank and in hand 1,432 4,917
4,532 6,417
Creditors: Amounts Falling Due Within One Year 6 (595,739 ) (581,972 )
NET CURRENT ASSETS (LIABILITIES) (591,207 ) (575,555 )
TOTAL ASSETS LESS CURRENT LIABILITIES (19,744 ) (4,092 )
NET LIABILITIES (19,744 ) (4,092 )
CAPITAL AND RESERVES
Called up share capital 7 4 4
Profit and Loss Account (19,748 ) (4,096 )
SHAREHOLDERS' FUNDS (19,744) (4,092)
Page 5
Page 6
For the year ending 29 February 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
M W Graaf Van Rechteren
Director
11/04/2024
The notes on pages 7 to 9 form part of these financial statements.
Page 6
Page 7
Notes to the Financial Statements
1. General Information
Labrika Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13897484 . The registered office is Bank House, 81 St Judes Road, Englefield Green, TW20 0DF.
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 directors have formed a judgement at the time of approving the Annual Financial Statements, that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason the directors have adopted the going concern basis in preparing the accounts.
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.
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. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 7
Page 8
4. Tangible Assets
Investment Properties
£
Cost
As at 1 March 2023 571,463
As at 29 February 2024 571,463
Net Book Value
As at 29 February 2024 571,463
As at 1 March 2023 571,463
5. Debtors
29 February 2024 28 February 2023
£ £
Due within one year
Other debtors 3,100 1,500
3,100 1,500
6. Creditors: Amounts Falling Due Within One Year
29 February 2024 28 February 2023
£ £
Other creditors 17,667 1,500
Accruals and deferred income 1,680 1,680
Directors' loan accounts 576,392 578,792
595,739 581,972
7. Share Capital
29 February 2024 28 February 2023
Allotted, called up and fully paid £ £
4 Ordinary Shares of £ 1 each 4 4
8. Related Party Transactions
At the balance sheet date, included within creditors due within one year, is an amount of £576,392 (2023 - £578,792) owed to the directors. This loan has no fixed term and repayable on demand.
The company is controlled by its directors and shareholders.
Page 8
Page 9
9. Taxation
The company has carried forward losses of £19,748 (2023 - £4,096) which it can use against future taxable profits.
Page 9