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Lauder Property Ltd.

Registered Number
SC222887
(Scotland)

Unaudited Financial Statements for the Year ended
31 March 2024

Lauder Property Ltd.
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Mrs R C Taylor
Mr WGA Taylor

Company Secretary

Mr WGA Taylor

Registered Address

Capital Square C/O Brodies Llp
58 Morrison Street
Edinburgh
EH3 8BP

Registered Number

SC222887 (Scotland)
Lauder Property Ltd.
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3142,753-
142,753-
Current assets
Stocks-455,308
Debtors4855,713285,007
Cash at bank and on hand21,961432,547
877,6741,172,862
Creditors amounts falling due within one year5(86,788)(251,184)
Net current assets (liabilities)790,886921,678
Total assets less current liabilities933,639921,678
Creditors amounts falling due after one year6(12,231)(22,435)
Net assets921,408899,243
Capital and reserves
Called up share capital66
Profit and loss account921,402899,237
Shareholders' funds921,408899,243
The financial statements were approved and authorised for issue by the Board of Directors on 20 December 2024, and are signed on its behalf by:
Mr WGA Taylor
Director
Registered Company No. SC222887
Lauder Property Ltd.
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address is Capital Square, C/O Brodies LLP, 58 Morrison Street, Edinburgh, EH3 8BP.
Statement of compliance
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.
Basis of preparation
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.
Functional and presentation currency
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound
Turnover policy
The turnover shown in the profit and loss account represents amounts receivable for the year, exclusive of value added tax.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
The tax expense represents the sum of the tax currently payable and deferred 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. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority
Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Straight line (years)
Plant and machinery4
Fixtures and fittings4
Office Equipment4
Stocks and work in progress
Work in progress in measured at the lower of cost and net realisable value. Stock is measured at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving stock.
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 April 23-4187,3283,18310,929
Additions142,753---142,753
At 31 March 24142,7534187,3283,183153,682
Depreciation and impairment
At 01 April 23-4187,3283,18310,929
At 31 March 24-4187,3283,18310,929
Net book value
At 31 March 24142,753---142,753
At 31 March 23-----
4.Debtors: amounts due within one year

2024

2023

££
Other debtors855,713285,007
Total855,713285,007
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables27,642864
Bank borrowings and overdrafts10,2049,952
Taxation and social security5,561188,453
Other creditors43,38151,915
Total86,788251,184
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts12,23122,435
Total12,23122,435
7.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Mr WGA Taylor0145,76816,570129,198
Mrs R C Taylor0145,76716,570129,197
0291,53533,140258,395
Included in debtors are amounts owning to the company by the directors as detailed above. The loans are unsecured and repayable on demand with interest charged at the official rate. The maximum amount outstanding during the year was £286,535. The loans were repaid in full subsequent to the year end date.