Registered number
04639677
LAUREL INVESTMENTS UK LIMITED
Unaudited Filleted Accounts
29 March 2024
LAUREL INVESTMENTS UK LIMITED
Registered number: 04639677
Balance Sheet
as at 29 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 227 -
Investments 4 190,000 190,000
190,227 190,000
Current assets
Debtors 5 - 7,974
Cash at bank and in hand 5,042 5,003
5,042 12,977
Creditors: amounts falling due within one year 6 (74,288) (76,702)
Net current liabilities (69,246) (63,725)
Total assets less current liabilities 120,981 126,275
Creditors: amounts falling due after more than one year 7 (120,441) (125,031)
Net assets 540 1,244
Capital and reserves
Called up share capital 1 1
Revaluation reserve 8 13,675 13,675
Profit and loss account (13,136) (12,432)
Shareholder's funds 540 1,244
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 member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Mr T A Ashworth
Director
Approved by the board on 24 December 2024
LAUREL INVESTMENTS UK LIMITED
Notes to the Accounts
for the year ended 29 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention 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 represents rents receivable.
Investment properties
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 included in the profit and loss account.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
Additions 340
At 29 March 2024 340
Depreciation
Charge for the year 113
At 29 March 2024 113
Net book value
At 29 March 2024 227
4 Investments
Other
investments
£
Cost
At 30 March 2023 190,000
At 29 March 2024 190,000
Historical cost
At 30 March 2023 176,325
At 29 March 2024 176,325
Investment property comprises of a property on Newchurch Road in Rawtenstall and is stated at the director's estimte of open market value as at 29 March 2022.
5 Debtors 2024 2023
£ £
Trade debtors - 224
Other debtors - 7,750
- 7,974
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 4,400 4,400
Other creditors 69,888 72,302
74,288 76,702
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 120,441 125,031
8 Revaluation reserve 2024 2023
£ £
At 30 March 2023 13,675 13,675
At 29 March 2024 13,675 13,675
9 Operating lease commitments
The company has entered into a lease for a property owned by a pension scheme set up to benefit the director. The company pays rent to the pension scheme of £42,940 per annum and collects the rent from the tenants using the property. The lease is to be renewed and back dated to June 2022.
10 Controlling party
The company is controlled by Mr T A Ashworth by way of him owning all of the issued share capital.
11 Other information
LAUREL INVESTMENTS UK LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Bacup Road Business Centre
227a Bacup Road
Rawtenstall
Lancs
BB47PA
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