Registration number:
Lupari & Sons Limited
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 |
|
|
|
Investments |
|
|
|
|
|
||
Current assets |
|||
Debtors |
|
|
|
Cash at bank and in hand |
|
- |
|
|
|
||
Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets/(liabilities) |
|
( |
|
Total assets less current liabilities |
|
|
|
Creditors: Amounts falling due after more than one year |
- |
( |
|
Net assets |
|
|
|
Capital and reserves |
|||
Called up share capital |
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 director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Lupari & Sons Limited
(Registration number: NI676140)
Balance Sheet as at 30 April 2024
Approved and authorised by the
......................................... |
Lupari & Sons Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in Northern Ireland.
The address of its registered office is:
These financial statements were authorised for issue by the
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
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
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Investment properties |
2024 |
|
At 1 May |
|
Additions |
|
At 30 April 2024 |
|
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.
Investments |
2024 |
2023 |
|
Investments in subsidiaries |
|
|
Subsidiaries |
£ |
Cost or valuation |
|
At 1 May 2023 |
|
Provision |
|
Carrying amount |
|
At 30 April 2024 |
|
At 30 April 2023 |
|
Debtors |
2024 |
2023 |
|
Prepayments |
|
|
Other debtors |
|
- |
|
|
Lupari & Sons Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Creditors |
2024 |
2023 |
|
Due within one year |
||
Accruals and deferred income |
|
|
Other creditors |
|
|
|
|
2024 |
2023 |
|
Due after one year |
||
Amounts owed to group undertakings |
- |
|
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
|||
No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |