Company registration number 05250700 (England and Wales)
L.A.H. Properties Limited
UNAUDITED FINANCIAL STATEMENTS
for the year ended 31 January 2024
PAGES FOR FILING WITH REGISTRAR
L.A.H. Properties Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
L.A.H. Properties Limited
Balance sheet
as at 31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
3
1,637,000
1,555,000
Current assets
Debtors
5
1,989
104,266
Investments
6
174,830
167,077
Cash at bank and in hand
36,486
66,082
213,305
337,425
Creditors: amounts falling due within one year
7
(2,609)
(7,133)
Net current assets
210,696
330,292
Total assets less current liabilities
1,847,696
1,885,292
Provisions for liabilities
(69,597)
(38,181)
Net assets
1,778,099
1,847,111
Capital and reserves
Called up share capital
8
100
100
Fair value reserve
516,455
465,871
Other reserves
1,535,950
1,535,950
Profit and loss reserves
(274,406)
(154,810)
Total equity
1,778,099
1,847,111

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

For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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 24 October 2024
Mr A Harris
Director
Company Registration No. 05250700
L.A.H. Properties Limited
Notes to the financial statements
for the year ended 31 January 2024
- 2 -
1
Accounting policies
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.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

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.

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.

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.

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.

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.

Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

L.A.H. Properties Limited
Notes to the financial statements (continued)
for the year ended 31 January 2024
- 3 -
2
Employees

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

2024
2023
Number
Number
Total
1
1
3
Investment property
2024
£
Fair value
At 1 February 2023
1,555,000
Revaluations
82,000
At 31 January 2024
1,637,000

Investment property comprises various rental properties. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the director. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
174,830
167,077

Financial assets are measured at fair value through through the profit and loss account. Valuation is based on the portfolio valuation as at the reporting date.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,989
3,287
Other debtors
-
0
100,979
1,989
104,266
6
Current asset investments
2024
2023
£
£
Other investments
174,830
167,077
L.A.H. Properties Limited
Notes to the financial statements (continued)
for the year ended 31 January 2024
- 4 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
-
0
4,765
Other creditors
2,609
2,368
2,609
7,133
8
Called up share capital
2024
2023
£
£
Ordinary share capital
Issued and fully paid
100 Ordinary shares of £1 each
100
100
9
Company information

L.A.H. Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is Townend House, 8 Springwell Court, Leeds, West Yorkshire, LS12 1AL.

 

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