Registered number
10134657
LAE Property Ltd
Unaudited Filleted Accounts
30 April 2024
LAE Property Ltd
Registered number: 10134657
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Current assets
Debtors 5 47,343 47,476
Cash at bank and in hand 1,979 1,647
49,322 49,123
Creditors: amounts falling due within one year 6 (1,634) (1,433)
Net current assets 47,688 47,690
Total assets less current liabilities 47,688 47,690
Provisions for liabilities (6) (6)
Net assets 47,682 47,684
Capital and reserves
Called up share capital 10 10
Profit and loss account 47,672 47,674
Shareholders' funds 47,682 47,684
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 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 L L Barletta
Director
Approved by the board on 16/01/2025.
LAE Property Ltd
Notes to the Accounts
for the year ended 30 April 2024
1 Statutory information
LAE Property Ltd is a private company, limited by shares, registered in England and Wales.
The company's registered number and registered office address are as below:
Registered number: 10134657
Registered office: The Grange
Upsall Road
South Kilvington
YO7 2NF
The presentation currency of the financial statements is the Pound Sterling, which is the
functional currency of the company, rounded to the nearest £1.
2 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
2 Accounting policies (continued)
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
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.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
4 Tangible fixed assets
Plant and machinery
£
Cost
At 1 May 2023 219
At 30 April 2024 219
Depreciation
At 1 May 2023 219
At 30 April 2024 219
Net book value
At 30 April 2024 -
5 Debtors 2024 2023
£ £
Corporation tax - 133
Other debtors 47,343 47,343
47,343 47,476
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 333 156
Director's current account 23 -
Taxation and social security costs 381 381
Other creditors 897 896
1,634 1,433
7 Related party transactions
During the year the director advanced £23 (2023: £Nil) to the company and the company repaid £Nil (2023: £Nil) to the director. An amount of £23 (2023: £Nil) remained due to the director at the year end.
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