Company registration number 11673827 (England and Wales)
LAWFORD HEATH INDUSTRIAL ESTATE LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
LAWFORD HEATH INDUSTRIAL ESTATE LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
LAWFORD HEATH INDUSTRIAL ESTATE LTD
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investment property
4
7,066,189
7,066,189
Current assets
Debtors
5
68,217
566,717
Cash at bank and in hand
93
1,191
68,310
567,908
Creditors: amounts falling due within one year
6
(400,973)
(495,027)
Net current (liabilities)/assets
(332,663)
72,881
Total assets less current liabilities
6,733,526
7,139,070
Creditors: amounts falling due after more than one year
7
(5,110,586)
(5,387,701)
Net assets
1,622,940
1,751,369
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,622,840
1,751,269
Total equity
1,622,940
1,751,369

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 29 July 2024
Mr A Kandhari
Director
Company registration number 11673827 (England and Wales)
LAWFORD HEATH INDUSTRIAL ESTATE LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 January 2022
100
1,300,251
1,300,351
Year ended 31 December 2022:
Profit and total comprehensive income
-
451,018
451,018
Balance at 31 December 2022
100
1,751,269
1,751,369
Year ended 31 December 2023:
Profit and total comprehensive income
-
96,571
96,571
Dividends
-
(225,000)
(225,000)
Balance at 31 December 2023
100
1,622,840
1,622,940
LAWFORD HEATH INDUSTRIAL ESTATE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Lawford Heath Industrial Estate Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 18 Wadsworth Road, Perivale, Middx, UB6 7JD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors also assess that the group has sufficient resources and assets to meet its liabilities and support also available from other associated companies controlled by the directors. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true

1.3
Turnover

Turnover represents rent receivable, net of VAT.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

LAWFORD HEATH INDUSTRIAL ESTATE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

LAWFORD HEATH INDUSTRIAL ESTATE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was 1 (2022: 1).

LAWFORD HEATH INDUSTRIAL ESTATE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
4
Investment property
2023
£
Fair value
At 1 January 2023 and 31 December 2023
7,066,189

In the opinion of the director, the market value of the investment property is not materially different to that stated at the balance sheet date.

5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
68,217
566,717
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
295,074
313,033
Corporation tax
29,700
105,794
Other creditors
76,199
76,200
400,973
495,027

The loans are secured by a fixed and floating charge over the Company's assets.

 

The loan in subject to market interest rate with monthly capital repayments.

7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
5,110,586
5,387,701

The loans are secured by a fixed and floating charge over the Company's assets.

 

The loan in subject to market interest rate with monthly capital repayments.

8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

LAWFORD HEATH INDUSTRIAL ESTATE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
8
Audit report information
(Continued)
- 7 -
Senior Statutory Auditor:
Harsheel Dodhia
Statutory Auditor:
KLSA LLP
Date of audit report:
29 July 2024
9
Related party transactions

The company has taken advantage of the exemption available in FRS 102 , whereby it has not disclosed transactions with its holding company and any other company which is under common control.

10
Ultimate controlling party

The ultimate parent company is RB International Holdings Limited, a company incorporated in England and Wales.

 

In the opinion of the directors, the ultimate controlling party is the Kandhari family.

2023-12-312023-01-01false29 July 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityThis audit opinion is unqualifiedMr K Ashmeet Singhfalsefalse1116738272023-01-012023-12-31116738272023-12-31116738272022-12-3111673827core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3111673827core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3111673827core:Non-currentFinancialInstrumentscore:AfterOneYear2023-12-3111673827core:Non-currentFinancialInstrumentscore:AfterOneYear2022-12-3111673827core:CurrentFinancialInstruments2023-12-3111673827core:CurrentFinancialInstruments2022-12-3111673827core:ShareCapital2023-12-3111673827core:ShareCapital2022-12-3111673827core:RetainedEarningsAccumulatedLosses2023-12-3111673827core:RetainedEarningsAccumulatedLosses2022-12-3111673827core:ShareCapital2021-12-3111673827core:RetainedEarningsAccumulatedLosses2021-12-3111673827bus:Director12023-01-012023-12-3111673827core:RetainedEarningsAccumulatedLosses2022-01-012022-12-31116738272022-01-012022-12-3111673827core:RetainedEarningsAccumulatedLosses2023-01-012023-12-31116738272022-12-3111673827core:Non-currentFinancialInstruments2023-12-3111673827core:Non-currentFinancialInstruments2022-12-3111673827bus:PrivateLimitedCompanyLtd2023-01-012023-12-3111673827bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3111673827bus:FRS1022023-01-012023-12-3111673827bus:Audited2023-01-012023-12-3111673827bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP