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REGISTERED NUMBER: 04186993 (England and Wales)











LA Properties Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024






LA Properties Limited (Registered number: 04186993)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


LA Properties Limited

Company Information
for the Year Ended 31 March 2024







Directors: A J Garden
L Garden





Secretary: L Garden





Registered office: Shiloh Hall
Shiloh Road
Mellor
Stockport
Cheshire
SK6 5NE





Registered number: 04186993 (England and Wales)





Accountants: Warr & Co Limited
Chartered Accountants
Mynshull House
78 Churchgate
Stockport
Cheshire
SK1 1YJ

LA Properties Limited (Registered number: 04186993)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
Fixed assets
Tangible assets 4 20,212 37,144
Investment property 5 694,000 694,000
714,212 731,144

Current assets
Debtors 6 - 56,827
Cash at bank 207,181 120,904
207,181 177,731
Creditors
Amounts falling due within one year 7 (32,678 ) (27,742 )
Net current assets 174,503 149,989
Total assets less current liabilities 888,715 881,133

Provisions for liabilities 8 (47,187 ) (47,187 )
Net assets 841,528 833,946

Capital and reserves
Called up share capital 1,030 1,030
Fair value reserve 9 171,082 171,082
Retained earnings 669,416 661,834
Shareholders' funds 841,528 833,946

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

LA Properties Limited (Registered number: 04186993)

Balance Sheet - continued
31 March 2024


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 25 July 2024 and were signed on its behalf by:




A J Garden - Director



L Garden - Director


LA Properties Limited (Registered number: 04186993)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. Statutory information

LA Properties 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

Investment property
Investment properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in profit or loss.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view.

If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified.

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.


LA Properties Limited (Registered number: 04186993)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. Accounting policies - continued
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 4 (2023 - 4 ) .

4. Tangible fixed assets
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Cost
At 1 April 2023
and 31 March 2024 20,723 61,173 81,896
Depreciation
At 1 April 2023 14,166 30,586 44,752
Charge for year 1,639 15,293 16,932
At 31 March 2024 15,805 45,879 61,684
Net book value
At 31 March 2024 4,918 15,294 20,212
At 31 March 2023 6,557 30,587 37,144

5. Investment property
Total
£   
Fair value
At 1 April 2023
and 31 March 2024 694,000
Net book value
At 31 March 2024 694,000
At 31 March 2023 694,000

LA Properties Limited (Registered number: 04186993)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. Investment property - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 694,000

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

31.3.24 31.3.23
£    £   
Cost 482,877 482,877

Investment property was valued on an open market basis on 31 March 2024 by the directors .

6. Debtors: amounts falling due within one year
31.3.24 31.3.23
£    £   
Other debtors - 1,949
Directors' current accounts - 54,878
- 56,827

7. Creditors: amounts falling due within one year
31.3.24 31.3.23
£    £   
Corporation tax 15,634 17,824
Other creditors - 1,157
Rental deposits 10,275 7,441
Directors' current accounts 5,389 -
Accrued expenses 1,380 1,320
32,678 27,742

8. Provisions for liabilities
31.3.24 31.3.23
£    £   
Deferred tax 47,187 47,187

Deferred
tax
£   
Balance at 1 April 2023 47,187
Balance at 31 March 2024 47,187

LA Properties Limited (Registered number: 04186993)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. Reserves
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 171,082

10. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
A J Garden and L Garden
Balance outstanding at start of year 54,878 305,399
Amounts advanced - 161,366
Amounts repaid (54,878 ) (411,887 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 54,878

The loan attracted a commercial rate of interest and was fully repaid during the year.