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 |