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REGISTERED NUMBER: 09919632 (England and Wales)













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: Mrs S Fedarb
Mrs C Jeremiah





REGISTERED OFFICE: Unit 4 Heron Road
Rumney
United Kingdom
Cardiff
CF3 3JE





REGISTERED NUMBER: 09919632 (England and Wales)





ACCOUNTANTS: Carston Chartered 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 1,236,000 1,236,000

CURRENT ASSETS
Debtors 5 4,378 2,684
Cash at bank 52,899 46,588
57,277 49,272
CREDITORS
Amounts falling due within one year 6 98,677 125,413
NET CURRENT LIABILITIES (41,400 ) (76,141 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,194,600 1,159,859

CREDITORS
Amounts falling due after more than one year 7 (240,346 ) (283,888 )

PROVISIONS FOR LIABILITIES (75,000 ) (49,339 )
NET ASSETS 879,254 826,632

CAPITAL AND RESERVES
Called up share capital 8 1 1
Fair value reserve 9 225,000 -
Retained earnings 654,253 826,631
SHAREHOLDERS' FUNDS 879,254 826,632

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16th September 2024 and were signed on its behalf by:



Mrs S Fedarb - Director


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 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.

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 1,236,000
NET BOOK VALUE
At 31st December 2023 1,236,000
At 31st December 2022 1,236,000

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 120 2,180
Other debtors 4,258 504
4,378 2,684

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 44,775 43,609
Trade creditors 5,659 -
Taxation and social security 27,078 26,625
Other creditors 21,165 55,179
98,677 125,413

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 210,346 253,888
Other creditors 30,000 30,000
240,346 283,888

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: £    £   
100 Ordinary £0.01 1 1

9. RESERVES
Fair
value
reserve
£   
Revaluation in the year 225,000

At 31st December 2023 225,000

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.