Silverfin false false 30/04/2024 01/05/2023 30/04/2024 A Cerdena de Petersen 25/04/2016 M Petersen 25/04/2016 31 January 2025 The principal activity of the Company during the financial year was that of property investment. 10144791 2024-04-30 10144791 bus:Director1 2024-04-30 10144791 bus:Director2 2024-04-30 10144791 2023-04-30 10144791 core:CurrentFinancialInstruments 2024-04-30 10144791 core:CurrentFinancialInstruments 2023-04-30 10144791 core:Non-currentFinancialInstruments 2024-04-30 10144791 core:Non-currentFinancialInstruments 2023-04-30 10144791 core:ShareCapital 2024-04-30 10144791 core:ShareCapital 2023-04-30 10144791 core:RetainedEarningsAccumulatedLosses 2024-04-30 10144791 core:RetainedEarningsAccumulatedLosses 2023-04-30 10144791 bus:OrdinaryShareClass1 2024-04-30 10144791 2023-05-01 2024-04-30 10144791 bus:FilletedAccounts 2023-05-01 2024-04-30 10144791 bus:SmallEntities 2023-05-01 2024-04-30 10144791 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 10144791 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10144791 bus:Director1 2023-05-01 2024-04-30 10144791 bus:Director2 2023-05-01 2024-04-30 10144791 2022-05-01 2023-04-30 10144791 core:CurrentFinancialInstruments 2023-05-01 2024-04-30 10144791 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 10144791 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 10144791 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10144791 (England and Wales)

LAV PROPERTIES LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

LAV PROPERTIES LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

LAV PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
LAV PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 669,414 669,414
669,414 669,414
Current assets
Cash at bank and in hand 2,162 5,479
2,162 5,479
Creditors: amounts falling due within one year 4 ( 498,208) ( 499,174)
Net current liabilities (496,046) (493,695)
Total assets less current liabilities 173,368 175,719
Creditors: amounts falling due after more than one year 5 ( 201,254) ( 219,058)
Net liabilities ( 27,886) ( 43,339)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account ( 27,986 ) ( 43,439 )
Total shareholders' deficit ( 27,886) ( 43,339)

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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of LAV Properties Limited (registered number: 10144791) were approved and authorised for issue by the Board of Directors on 31 January 2025. They were signed on its behalf by:

A Cerdena de Petersen
Director
LAV PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
LAV PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

LAV Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1b Devonshire Road, Chiswick, London, W4 2EU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Investment property

Investment property
£
Valuation
As at 01 May 2023 669,414
As at 30 April 2024 669,414

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 669,414 669,414

4. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 20,000 21,500
Amounts owed to directors 340,145 336,980
Accruals 2,749 2,000
Other taxation and social security 3,000 6,380
Other creditors 132,314 132,314
498,208 499,174

The bank loan is secured by National Westminster Bank Plc who hold a fixed and floating charge covering all the property or undertaking of the company.

5. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 201,254 219,058

The bank loan is secured by National Westminster Bank Plc who hold a fixed and floating charge covering all the property or undertaking of the company.

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Related party transactions

At the end of the year, the company owed the directors £340,145 (2023: £336,980 ). This amounts is interest free with no fixed date for repayment, and is included within other creditors due within one year.