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Registration number: NI676140

Lupari & Sons Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Lupari & Sons Limited

(Registration number: NI676140)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

3,826,599

3,635,761

Investments

5

100

100

 

3,826,699

3,635,861

Current assets

 

Debtors

6

28,114

6,311

Cash at bank and in hand

 

995,343

-

 

1,023,457

6,311

Creditors: Amounts falling due within one year

7

(10,078)

(19,271)

Net current assets/(liabilities)

 

1,013,379

(12,960)

Total assets less current liabilities

 

4,840,078

3,622,901

Creditors: Amounts falling due after more than one year

7

-

(3,576,291)

Net assets

 

4,840,078

46,610

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

4,839,978

46,510

Shareholders' funds

 

4,840,078

46,610

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Lupari & Sons Limited

(Registration number: NI676140)
Balance Sheet as at 30 April 2024

Approved and authorised by the director on 10 October 2024
 

.........................................
Dr Marina Theresa Lupari
Director

 

Lupari & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 44b Oldwood Road, Randalstown, Co. Antrim, BT41 2PP.

These financial statements were authorised for issue by the director on 10 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Rental income is recognised on a straight-line basis over the lease term. The aggregate cost of lease incentives are initially held on the balance sheet and released to the profit and loss account on a straight-line basis over the lease term.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Investment property

Investment properties are initially measured at cost. Cost comprises the purchase price and any directly attributable expenditure including fees, taxes and other transaction costs. Direct costs initially incurred in arranging a lease are included in the cost of the property and subsequently expensed over the lease term. Investment properties are measured at fair value at each reporting date with any changes in fair value recognised in the profit and loss account.

 

Lupari & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Lupari & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Investment properties

2024
£

At 1 May

3,635,761

Additions

190,838

At 30 April 2024

3,826,599

The company's investment property portfolio is comprised of a number of residential houses. Of the total, £1,302,952 were acquired from a subsidiary company and the remainder purchased on the open market. All of the properties have been acquired in comparatively recent periods and the director is of the opinion that the historic cost of the properties is not significantly different from their fair value.

5

Investments

2024
£

2023
£

Investments in subsidiaries

100

100

Subsidiaries

£

Cost or valuation

At 1 May 2023

100

Provision

Carrying amount

At 30 April 2024

100

At 30 April 2023

100

6

Debtors

2024
£

2023
£

Prepayments

2,543

6,311

Other debtors

25,571

-

 

28,114

6,311

 

Lupari & Sons Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

7

Creditors

2024
£

2023
£

Due within one year

Accruals and deferred income

2,160

2,160

Other creditors

7,918

17,111

10,078

19,271

2024
£

2023
£

Due after one year

Amounts owed to group undertakings

-

3,576,291

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100