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Registered number: 13422387













L & A Property Investments (North East) Limited

Financial statements
Information for filing with the registrar

31 May 2024




 
L & A Property Investments (North East) Limited


Balance sheet
At 31 May 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
267,325
269,257

  
267,325
269,257

Current assets
  

Debtors
 5 
100
100

Cash at bank and in hand
  
1,496
1,344

  
1,596
1,444

Creditors: amounts falling due within one year
 6 
(206,712)
(192,636)

Net current liabilities
  
 
 
(205,116)
 
 
(191,192)

Total assets less current liabilities
  
62,209
78,065

Creditors: amounts falling due after more than one year
 7 
(91,787)
(95,820)

  

Net liabilities
  
(29,578)
(17,755)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(29,678)
(17,855)

Shareholders' deficit
  
(29,578)
(17,755)


1

 
L & A Property Investments (North East) Limited

    
Balance sheet (continued)
At 31 May 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 January 2025.




A Brown
Director

Company registered number: 13422387
The notes on pages 3 to 5 form part of these financial statements. 

2

 
L & A Property Investments (North East) Limited
 
 

Notes to the financial statements
Year ended 31 May 2024

1.


General information

L & A Property Investments (North East) Limited ('the company')  is a private company limited by shares, incorporated and domiciled in the United Kingdom and registered in England. The address of the registered office is Mayfair House, Redburn Road, Newcastle upon Tyne, United Kingdom, NE5 1NB. 

2.Accounting policies

 
2.1

Statement of compliance

The financial statements have been prepared in accordance with Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' (FRS 102) and the Companies Act 2006. 

 
2.2

Going concern

At the balance sheet date the company had excess liabilities over assets. The directors, having made due and careful enquiry, are of the opinion that the company, with the support of its shareholders, has adequate working capital to execute its operations over the next 12 months. The directors, therefore, have made an informed judgement, at the time of approving the financial statements, that there is reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result the directors have  continued to adopt the going concern basis of accounting in preparing the annual financial accounts.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Property under construction is not depreciated.

3

 
L & A Property Investments (North East) Limited
 
 

Notes to the financial statements
Year ended 31 May 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023: 2). 


4.


Tangible fixed assets





Furnished holiday let under construction
Fixtures and fittings
Total

£
£
£



Cost


At 1 June 2023
261,528
8,730
270,258



At 31 May 2024

261,528
8,730
270,258



Depreciation


At 1 June 2023
-
1,001
1,001


Charge for the year
-
1,932
1,932



At 31 May 2024

-
2,933
2,933



Net book value



At 31 May 2024
261,528
5,797
267,325



At 31 May 2023
261,528
7,729
269,257

4

 
L & A Property Investments (North East) Limited
 
 

Notes to the financial statements
Year ended 31 May 2024

5.


Debtors

2024
2023
£
£


Other debtors
100
100

100
100



6.


Creditors: amounts falling due within one year

2024
2023
£
£

Bank loans
5,287
3,400

Trade creditors
106
2,220

Other creditors
198,844
184,640

Accruals and deferred income
2,475
2,376

206,712
192,636



7.


Creditors: amounts falling due after more than one year

2024
2023
£
£

Bank loans
91,787
95,820

91,787
95,820


5