LARKHALL LTD |
Registered number: |
12475463 |
Balance Sheet |
as at 29 February 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
7,916,418 |
|
|
8,370,794 |
|
Current assets |
Investments held as current assets |
4 |
|
64,765 |
|
|
97,238 |
Cash at bank and in hand |
|
|
31,480 |
|
|
45,220 |
|
|
|
96,245 |
|
|
142,458 |
|
Creditors: amounts falling due within one year |
5 |
|
(391,178) |
|
|
(456,244) |
|
Net current liabilities |
|
|
|
(294,933) |
|
|
(313,786) |
|
Total assets less current liabilities |
|
|
|
7,621,485 |
|
|
8,057,008 |
|
Creditors: amounts falling due after more than one year |
6 |
|
|
(2,724,731) |
|
|
(3,097,735) |
|
|
|
Net assets |
|
|
|
4,896,754 |
|
|
4,959,273 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
4,999,230 |
|
|
4,999,230 |
Profit and loss account |
|
|
|
(102,476) |
|
|
(39,957) |
|
Shareholders' funds |
|
|
|
4,896,754 |
|
|
4,959,273 |
|
|
|
|
|
|
|
|
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
H M Leigh |
Director |
Approved by the board on 22 November 2024 |
|
LARKHALL LTD |
Notes to the Accounts |
for the year ended 29 February 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover comprises rent and service charges receivable. |
|
|
Tangible Fixed assets |
|
No amortisation is provided in respect of freehold and leasehold investment properties. This treatment is considered necessary to ensure the financial statements give a true and fair view. Deprecation is only one of the facts reflected in the Balance sheet date valuation and the amount that might otherwise have been shown can not be separated, identified or quantified. Where buildings are maintained to such a standard that their residual value is not less than their cost or valuation the directors have taken a view that no depreciation is charged. |
|
|
Fixtures and fittings in the properties are depreciated at 25% straight line basis. |
|
|
Revaluation of properties |
|
Individual freehold and leasehold properties are periodically revalued with the surplus/deficit on book value being transferred to the revaluation reserve, except that a deficit which is in excess of any previously recognised surplus over cost relating to the same property, or the reversal of such a deficit, is charged (or credited) to the profit and loss account. A deficit which represents a clear consumption of economic benefits is charged to the profit and loss accounts regardless of any such previous surplus. |
|
|
The properties were last revalued by the director on 28 February 2022. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Fixtures and fittings |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 March 2023 |
8,285,000 |
|
114,392 |
|
8,399,392 |
|
Disposals |
(390,000) |
|
(71,557) |
|
(461,557) |
|
At 29 February 2024 |
7,895,000 |
|
42,835 |
|
7,937,835 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 March 2023 |
- |
|
28,598 |
|
28,598 |
|
Charge for the year |
- |
|
10,708 |
|
10,708 |
|
On disposals |
- |
|
(17,889) |
|
(17,889) |
|
At 29 February 2024 |
- |
|
21,417 |
|
21,417 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 29 February 2024 |
7,895,000 |
|
21,418 |
|
7,916,418 |
|
At 28 February 2023 |
8,285,000 |
|
85,794 |
|
8,370,794 |
|
|
4 |
Investments held as current assets |
2024 |
|
2023 |
£ |
£ |
|
Fair value |
|
Listed investments |
64,765 |
|
97,238 |
|
|
|
|
|
|
|
|
|
|
Increase/(decrease) in fair value included in the profit and loss account for the financial year |
|
Listed investments |
3,260 |
|
(13,167) |
|
|
|
|
|
|
|
|
|
|
|
5 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Accruals and other creditors |
5,920 |
|
3,020 |
|
Directors Loans |
385,258 |
|
453,224 |
|
|
|
|
|
|
391,178 |
|
456,244 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Mortgages |
2,724,731 |
|
3,097,735 |
|
|
Several of the mortgage loans are secured by a charge over the relevant property held by the company. |
|
|
7 |
Other information |
|
|
LARKHALL LTD is a private company limited by shares and incorporated in England. Its registered office is: |
|
51 Larkhall Rise |
|
London |
|
SW4 6HT |