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REGISTERED NUMBER: 02223169 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LANEPORT PROPERTIES LIMITED

LANEPORT PROPERTIES LIMITED (REGISTERED NUMBER: 02223169)

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


LANEPORT PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr G Christou
Mr A C Stylianou ACA, FCCA





SECRETARY: Mr G Christou





REGISTERED OFFICE: Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE





REGISTERED NUMBER: 02223169 (England and Wales)





ACCOUNTANTS: Christiansons Ltd
Chartered Certified Accountants
Sterling House
Fulbourne Road
Walthamstow
London
E17 4EE

LANEPORT PROPERTIES LIMITED (REGISTERED NUMBER: 02223169)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 113,000 113,000
Investment property 5 3,095,000 3,015,000
3,208,000 3,128,000

CURRENT ASSETS
Debtors 6 215,719 233,864
Cash at bank 68,273 258,806
283,992 492,670
CREDITORS
Amounts falling due within one year 7 96,488 284,012
NET CURRENT ASSETS 187,504 208,658
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,395,504

3,336,658

CREDITORS
Amounts falling due after more than one
year

8

(595,759

)

(636,495

)

PROVISIONS FOR LIABILITIES 10 (240,650 ) (167,561 )
NET ASSETS 2,559,095 2,532,602

CAPITAL AND RESERVES
Called up share capital 11 500 500
Fair value reserve 12 1,260,802 1,253,891
Retained earnings 12 1,297,793 1,278,211
SHAREHOLDERS' FUNDS 2,559,095 2,532,602

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.

LANEPORT PROPERTIES LIMITED (REGISTERED NUMBER: 02223169)

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2024 and were signed on its behalf by:





Mr G Christou - Director


LANEPORT PROPERTIES LIMITED (REGISTERED NUMBER: 02223169)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Laneport 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

Turnover
Turnover represents gross rents receivable for the year. Turnover is recognised when rent becomes due under the lease agreement.

Investments in associates
Investments in associate undertakings are recognised at cost less impairments.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & loss account, 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.

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.

Debtors receivable and creditors payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs and are measured subsequently at amortised cost using the effective interest method.

LANEPORT PROPERTIES LIMITED (REGISTERED NUMBER: 02223169)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. FIXED ASSET INVESTMENTS
Interest
in
associate
£   
COST
At 1 April 2023
and 31 March 2024 113,000
NET BOOK VALUE
At 31 March 2024 113,000
At 31 March 2023 113,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 3,015,000
Revaluations 80,000
At 31 March 2024 3,095,000
NET BOOK VALUE
At 31 March 2024 3,095,000
At 31 March 2023 3,015,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2016 1,238,609
Valuation in 2017 17,843
Valuation in 2018 50,000
Valuation in 2022 115,000
Valuation in 2024 80,000
Cost 1,593,548
3,095,000

LANEPORT PROPERTIES LIMITED (REGISTERED NUMBER: 02223169)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. INVESTMENT PROPERTY - continued

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

31.3.24 31.3.23
£    £   
Cost 1,593,548 1,593,548

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
£    £   
Accrued income 305 -
Rent deposit to agent 1,800 1,800
Related company 213,614 232,064
215,719 233,864

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 40,000 40,000
Tax 21,093 20,905
Tenants deposit due 1,800 1,800
Shareholders loan 12,592 126,513
Directors' current accounts 12,592 91,513
Accruals and deferred income 8,411 3,281
96,488 284,012

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans more 5 yr by instal 595,759 636,495

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 595,759 636,495

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 635,759 676,495

The directors have given personal guarantees against the secured debt.

LANEPORT PROPERTIES LIMITED (REGISTERED NUMBER: 02223169)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 240,650 167,561

Deferred
tax
£   
Balance at 1 April 2023 167,561
Provided during year 73,089
Deferred taxation
Balance at 31 March 2024 240,650

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number: Class: Nominal 31.3.17 31.3.16
Value: £ £
100 Ordinary £1 100 100
400 "A" Ordinary £1 400 400
500 500

12. RESERVES
Fair
Retained value
earnings reserve Totals
£    £    £   

At 1 April 2023 1,278,211 1,253,891 2,532,102
Profit for the year 72,582 72,582
Dividends (53,000 ) (53,000 )
Fair value movement - 6,911 6,911
At 31 March 2024 1,297,793 1,260,802 2,558,595

13. ULTIMATE CONTROLLING PARTY

There is no overall control of the company by any one person.