2023-05-012024-04-302024-04-30false08509147LAZFA LIMITED2025-01-2168100falseiso4217:GBPxbrli:pure085091472023-05-01085091472024-04-30085091472023-05-012024-04-30085091472022-05-01085091472023-04-30085091472022-05-012023-04-3008509147bus:SmallEntities2023-05-012024-04-3008509147bus:AuditExempt-NoAccountantsReport2023-05-012024-04-3008509147bus:FullAccounts2023-05-012024-04-3008509147bus:PrivateLimitedCompanyLtd2023-05-012024-04-3008509147core:WithinOneYear2024-04-3008509147core:AfterOneYear2024-04-3008509147core:WithinOneYear2023-04-3008509147core:AfterOneYear2023-04-3008509147core:ShareCapital2024-04-3008509147core:SharePremium2024-04-3008509147core:RevaluationReserve2024-04-3008509147core:OtherReservesSubtotal2024-04-3008509147core:RetainedEarningsAccumulatedLosses2024-04-3008509147core:ShareCapital2023-04-3008509147core:SharePremium2023-04-3008509147core:RevaluationReserve2023-04-3008509147core:OtherReservesSubtotal2023-04-3008509147core:RetainedEarningsAccumulatedLosses2023-04-3008509147core:LandBuildings2024-04-3008509147core:PlantMachinery2024-04-3008509147core:Vehicles2024-04-3008509147core:FurnitureFittings2024-04-3008509147core:OfficeEquipment2024-04-3008509147core:NetGoodwill2024-04-3008509147core:IntangibleAssetsOtherThanGoodwill2024-04-3008509147core:ListedExchangeTraded2024-04-3008509147core:UnlistedNon-exchangeTraded2024-04-3008509147core:LandBuildings2023-04-3008509147core:PlantMachinery2023-04-3008509147core:Vehicles2023-04-3008509147core:FurnitureFittings2023-04-3008509147core:OfficeEquipment2023-04-3008509147core:NetGoodwill2023-04-3008509147core:IntangibleAssetsOtherThanGoodwill2023-04-3008509147core:ListedExchangeTraded2023-04-3008509147core:UnlistedNon-exchangeTraded2023-04-3008509147core:LandBuildings2023-05-012024-04-3008509147core:PlantMachinery2023-05-012024-04-3008509147core:Vehicles2023-05-012024-04-3008509147core:FurnitureFittings2023-05-012024-04-3008509147core:OfficeEquipment2023-05-012024-04-3008509147core:NetGoodwill2023-05-012024-04-3008509147core:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3008509147core:ListedExchangeTraded2023-05-012024-04-3008509147core:UnlistedNon-exchangeTraded2023-05-012024-04-3008509147core:MoreThanFiveYears2023-05-012024-04-3008509147core:Non-currentFinancialInstruments2024-04-3008509147core:Non-currentFinancialInstruments2023-04-3008509147dpl:CostSales2023-05-012024-04-3008509147dpl:DistributionCosts2023-05-012024-04-3008509147core:LandBuildings2023-05-012024-04-3008509147core:PlantMachinery2023-05-012024-04-3008509147core:Vehicles2023-05-012024-04-3008509147core:FurnitureFittings2023-05-012024-04-3008509147core:OfficeEquipment2023-05-012024-04-3008509147dpl:AdministrativeExpenses2023-05-012024-04-3008509147core:NetGoodwill2023-05-012024-04-3008509147core:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-3008509147dpl:GroupUndertakings2023-05-012024-04-3008509147dpl:ParticipatingInterests2023-05-012024-04-3008509147dpl:GroupUndertakingscore:ListedExchangeTraded2023-05-012024-04-3008509147core:ListedExchangeTraded2023-05-012024-04-3008509147dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-05-012024-04-3008509147core:UnlistedNon-exchangeTraded2023-05-012024-04-3008509147dpl:CostSales2022-05-012023-04-3008509147dpl:DistributionCosts2022-05-012023-04-3008509147core:LandBuildings2022-05-012023-04-3008509147core:PlantMachinery2022-05-012023-04-3008509147core:Vehicles2022-05-012023-04-3008509147core:FurnitureFittings2022-05-012023-04-3008509147core:OfficeEquipment2022-05-012023-04-3008509147dpl:AdministrativeExpenses2022-05-012023-04-3008509147core:NetGoodwill2022-05-012023-04-3008509147core:IntangibleAssetsOtherThanGoodwill2022-05-012023-04-3008509147dpl:GroupUndertakings2022-05-012023-04-3008509147dpl:ParticipatingInterests2022-05-012023-04-3008509147dpl:GroupUndertakingscore:ListedExchangeTraded2022-05-012023-04-3008509147core:ListedExchangeTraded2022-05-012023-04-3008509147dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-05-012023-04-3008509147core:UnlistedNon-exchangeTraded2022-05-012023-04-3008509147core:NetGoodwill2024-04-3008509147core:IntangibleAssetsOtherThanGoodwill2024-04-3008509147core:LandBuildings2024-04-3008509147core:PlantMachinery2024-04-3008509147core:Vehicles2024-04-3008509147core:FurnitureFittings2024-04-3008509147core:OfficeEquipment2024-04-3008509147core:AfterOneYear2024-04-3008509147core:WithinOneYear2024-04-3008509147core:ListedExchangeTraded2024-04-3008509147core:UnlistedNon-exchangeTraded2024-04-3008509147core:ShareCapital2024-04-3008509147core:SharePremium2024-04-3008509147core:RevaluationReserve2024-04-3008509147core:OtherReservesSubtotal2024-04-3008509147core:RetainedEarningsAccumulatedLosses2024-04-3008509147core:NetGoodwill2023-04-3008509147core:IntangibleAssetsOtherThanGoodwill2023-04-3008509147core:LandBuildings2023-04-3008509147core:PlantMachinery2023-04-3008509147core:Vehicles2023-04-3008509147core:FurnitureFittings2023-04-3008509147core:OfficeEquipment2023-04-3008509147core:AfterOneYear2023-04-3008509147core:WithinOneYear2023-04-3008509147core:ListedExchangeTraded2023-04-3008509147core:UnlistedNon-exchangeTraded2023-04-3008509147core:ShareCapital2023-04-3008509147core:SharePremium2023-04-3008509147core:RevaluationReserve2023-04-3008509147core:OtherReservesSubtotal2023-04-3008509147core:RetainedEarningsAccumulatedLosses2023-04-3008509147core:NetGoodwill2022-05-0108509147core:IntangibleAssetsOtherThanGoodwill2022-05-0108509147core:LandBuildings2022-05-0108509147core:PlantMachinery2022-05-0108509147core:Vehicles2022-05-0108509147core:FurnitureFittings2022-05-0108509147core:OfficeEquipment2022-05-0108509147core:AfterOneYear2022-05-0108509147core:WithinOneYear2022-05-0108509147core:ListedExchangeTraded2022-05-0108509147core:UnlistedNon-exchangeTraded2022-05-0108509147core:ShareCapital2022-05-0108509147core:SharePremium2022-05-0108509147core:RevaluationReserve2022-05-0108509147core:OtherReservesSubtotal2022-05-0108509147core:RetainedEarningsAccumulatedLosses2022-05-0108509147core:AfterOneYear2023-05-012024-04-3008509147core:WithinOneYear2023-05-012024-04-3008509147core:Non-currentFinancialInstrumentscore:CostValuation2023-05-012024-04-3008509147core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-05-012024-04-3008509147core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-05-012024-04-3008509147core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-05-012024-04-3008509147core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-05-012024-04-3008509147core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-05-012024-04-3008509147core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-05-012024-04-3008509147core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-05-012024-04-3008509147core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-05-012024-04-3008509147core:Non-currentFinancialInstrumentscore:CostValuation2024-04-3008509147core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2024-04-3008509147core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2024-04-3008509147core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2024-04-3008509147core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-04-3008509147core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2024-04-3008509147core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2024-04-3008509147core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2024-04-3008509147core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2024-04-3008509147core:Non-currentFinancialInstrumentscore:CostValuation2023-04-3008509147core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-04-3008509147core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-04-3008509147core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-04-3008509147core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-04-3008509147core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-04-3008509147core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-04-3008509147core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-04-3008509147core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-04-3008509147bus:Director12023-05-012024-04-30

LAZFA LIMITED

Registered Number
08509147
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

LAZFA LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

AFZAL, Mohammed

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

08509147 (England and Wales)
LAZFA LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets32,3841,277
Investment property45,006,0004,350,000
5,008,3844,351,277
Current assets
Cash at bank and on hand151,102310,831
151,102310,831
Creditors amounts falling due within one year5(1,208,542)(940,980)
Net current assets (liabilities)(1,057,440)(630,149)
Total assets less current liabilities3,950,9443,721,128
Creditors amounts falling due after one year6(799,637)(799,637)
Provisions for liabilities7(280,998)(239,624)
Net assets2,870,3092,681,867
Capital and reserves
Called up share capital102102
Share premium1,450,3001,450,300
Other reserves842,993718,871
Profit and loss account576,914512,594
Shareholders' funds2,870,3092,681,867
The financial statements were approved and authorised for issue by the Director on 21 January 2025, and are signed on its behalf by:
AFZAL, Mohammed
Director
Registered Company No. 08509147
LAZFA LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under historical cost convention, modified to include the revaluation of freehold properties 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).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover represents the rent receivable in the period. Income is recognised in the period to which it relates.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are initially stated at cost and subsequently at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Office Equipment25
Investment property
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. The surplus or deficit on revaluation is recognised in profit and loss account.
Financial instruments
The company has elected to apply the provisions of Section 11'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 May 235,3035,303
Additions1,5391,539
At 30 April 246,8426,842
Depreciation and impairment
At 01 May 234,0264,026
Charge for year432432
At 30 April 244,4584,458
Net book value
At 30 April 242,3842,384
At 30 April 231,2771,277
4.Investment property
The investment properties below have been shown at fair value as at the balance sheet date which have been valued by the director. If investment properties were stated on historical basis rather than fair value basis, the amounts would have been £3,882,010 (2023: £3,391,505).

£
Fair value at 01 May 234,350,000
Additions490,505
Fair value adjustments165,495
At 30 April 245,006,000
5.Creditors: amounts due within one year

2024

2023

££
Taxation and social security20,94519,590
Other creditors1,175,783918,691
Accrued liabilities and deferred income11,8142,699
Total1,208,542940,980
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts799,637799,637
Total799,637799,637
Creditors after one year of £799,637 (2023: £799,683) relates to bank loans. The bank loans are secured by first legal charge over the investment properties of the company.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)280,998239,624
Total280,998239,624
8.Related party transactions
Included in other creditors due within one year is the amount due to the director £1,175,783 (2023: £918,691).