REGISTERED NUMBER: |
THE LAURELS PROPERTY HOLDING COMPANY |
LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
REGISTERED NUMBER: |
THE LAURELS PROPERTY HOLDING COMPANY |
LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
THE LAURELS PROPERTY HOLDING COMPANY |
LIMITED (REGISTERED NUMBER: 09919632) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
THE LAURELS PROPERTY HOLDING COMPANY |
LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Tudor House |
16 Cathedral Road |
Cardiff |
CF11 9LJ |
THE LAURELS PROPERTY HOLDING COMPANY |
LIMITED (REGISTERED NUMBER: 09919632) |
STATEMENT OF FINANCIAL POSITION |
31ST DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Fair value reserve | 9 |
Retained earnings | 654,253 | 826,631 |
SHAREHOLDERS' FUNDS |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |
THE LAURELS PROPERTY HOLDING COMPANY |
LIMITED (REGISTERED NUMBER: 09919632) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
1. | STATUTORY INFORMATION |
The Laurels Property Holding Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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 Statement of Income and Retained Earnings, 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 statement of financial position date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1st January 2023 |
and 31st December 2023 |
NET BOOK VALUE |
At 31st December 2023 |
At 31st December 2022 |
The directors consider £1,236,000 to be the fair value of the investment property at the balance sheet date. A valuation was carried out at 22 May 2019 by Knight Frank. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. |
Fair value at 31st December 2023 is represented by: |
£ |
Valuation in 2019 | 300,000 |
Cost | 936,000 |
1,236,000 |
THE LAURELS PROPERTY HOLDING COMPANY |
LIMITED (REGISTERED NUMBER: 09919632) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST DECEMBER 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans |
Other creditors |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank loans more 5 yrs | 73,227 | 101,453 |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £0.01 | 1 | 1 |
9. | RESERVES |
Fair |
value |
reserve |
£ |
Revaluation in the year | 225,000 |
At 31st December 2023 |
10. | RELATED PARTY DISCLOSURES |
The company received £120,000 (2022: £120,000) during the year, for rentals due under the terms of an operating lease with Finest Brands International Limited, a company which sells clothing, footwear and accessories. The director Mrs S Fedarb is also a director of Finest Brands International Limited. |