Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-01falseThe principal activity of the company is residential property investment.44truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07678467 2023-07-01 2024-06-30 07678467 2022-07-01 2023-06-30 07678467 2024-06-30 07678467 2023-06-30 07678467 2022-07-01 07678467 1 2023-07-01 2024-06-30 07678467 1 2022-07-01 2023-06-30 07678467 d:Director1 2023-07-01 2024-06-30 07678467 e:OfficeEquipment 2023-07-01 2024-06-30 07678467 e:OfficeEquipment 2024-06-30 07678467 e:OfficeEquipment 2023-06-30 07678467 e:FreeholdInvestmentProperty 2024-06-30 07678467 e:FreeholdInvestmentProperty 2023-06-30 07678467 e:FreeholdInvestmentProperty 2 2023-07-01 2024-06-30 07678467 e:CurrentFinancialInstruments 2024-06-30 07678467 e:CurrentFinancialInstruments 2023-06-30 07678467 e:CurrentFinancialInstruments e:WithinOneYear 2024-06-30 07678467 e:CurrentFinancialInstruments e:WithinOneYear 2023-06-30 07678467 e:ShareCapital 2023-07-01 2024-06-30 07678467 e:ShareCapital 2024-06-30 07678467 e:ShareCapital 2022-07-01 2023-06-30 07678467 e:ShareCapital 2023-06-30 07678467 e:ShareCapital 2022-07-01 07678467 e:InvestmentPropertiesRevaluationReserve 2023-07-01 2024-06-30 07678467 e:InvestmentPropertiesRevaluationReserve 2024-06-30 07678467 e:InvestmentPropertiesRevaluationReserve 1 2023-07-01 2024-06-30 07678467 e:InvestmentPropertiesRevaluationReserve 2022-07-01 2023-06-30 07678467 e:InvestmentPropertiesRevaluationReserve 2023-06-30 07678467 e:InvestmentPropertiesRevaluationReserve 2022-07-01 07678467 e:InvestmentPropertiesRevaluationReserve 1 2022-07-01 2023-06-30 07678467 e:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 07678467 e:RetainedEarningsAccumulatedLosses 2024-06-30 07678467 e:RetainedEarningsAccumulatedLosses 2022-07-01 2023-06-30 07678467 e:RetainedEarningsAccumulatedLosses 2023-06-30 07678467 e:RetainedEarningsAccumulatedLosses 2022-07-01 07678467 d:OrdinaryShareClass1 2023-07-01 2024-06-30 07678467 d:OrdinaryShareClass1 2024-06-30 07678467 d:OrdinaryShareClass1 2023-06-30 07678467 d:OrdinaryShareClass2 2023-07-01 2024-06-30 07678467 d:OrdinaryShareClass2 2024-06-30 07678467 d:OrdinaryShareClass2 2023-06-30 07678467 d:FRS102 2023-07-01 2024-06-30 07678467 d:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 07678467 d:FullAccounts 2023-07-01 2024-06-30 07678467 d:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 07678467 e:TaxLossesCarry-forwardsDeferredTax 2024-06-30 07678467 e:TaxLossesCarry-forwardsDeferredTax 2023-06-30 07678467 2 2023-07-01 2024-06-30 07678467 f:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07678467










LAKH Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 30 June 2024

 
LAKH Limited
 
  
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of LAKH Limited for the Year Ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of LAKH Limited for the year ended 30 June 2024 which comprise  the Balance Sheet, the Statement of Changes in Equity and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of LAKH Limited, as a body, in accordance with the terms of our engagement letter dated 10 March 2022Our work has been undertaken solely to prepare for your approval the financial statements of LAKH Limited and state those matters that we have agreed to state to the Board of Directors of LAKH Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LAKH Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that LAKH Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of LAKH Limited. You consider that LAKH Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of LAKH Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
Springfield House
Springfield Road
Horsham
West Sussex
RH12 2RG
6 February 2025
Page 1

 
LAKH Limited
Registered number: 07678467

Balance Sheet
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 5 
1,695,000
1,809,950

  
1,695,000
1,809,950

Current assets
  

Debtors: amounts falling due within one year
 6 
485
956

Cash at bank and in hand
  
24,101
19,923

  
24,586
20,879

Creditors: amounts falling due within one year
 7 
(1,029,395)
(1,042,379)

Net current liabilities
  
 
 
(1,004,809)
 
 
(1,021,500)

Total assets less current liabilities
  
690,191
788,450

Provisions for liabilities
  

Deferred tax
 8 
(90,472)
(119,209)

  
 
 
(90,472)
 
 
(119,209)

Net assets
  
599,719
669,241


Capital and reserves
  

Called up share capital 
 9 
100
100

Investment property reserve
 10 
444,726
530,939

Profit and loss account
 10 
154,893
138,202

  
599,719
669,241


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 by: 


................................................
K G Osman
Director
Date: 6 February 2025

The notes on pages 5 to 10 form part of these financial statements.
Page 2

 
LAKH Limited
Registered number: 07678467

Balance Sheet (continued)
As at 30 June 2024


Page 3

 
LAKH Limited
 

Statement of Changes in Equity
For the Year Ended 30 June 2024


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 July 2022
100
478,329
137,117
615,546


Comprehensive income for the year

Profit for the year
-
-
56,691
56,691


Contributions by and distributions to owners

Dividends
-
-
(2,996)
(2,996)

Transfer to revaluation reserve
-
-
(52,610)
(52,610)

Transfer from profit and loss reserve
-
52,610
-
52,610


Total transactions with owners
-
52,610
(55,606)
(2,996)



At 1 July 2023
100
530,939
138,202
669,241


Comprehensive income for the year

Loss for the year
-
-
(67,522)
(67,522)


Contributions by and distributions to owners

Dividends
-
-
(2,000)
(2,000)

Transfer to revaluation reserve
-
-
86,213
86,213

Transfer from profit and loss reserve
-
(86,213)
-
(86,213)


Total transactions with owners
-
(86,213)
84,213
(2,000)


At 30 June 2024
100
444,726
154,893
599,719


The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
LAKH Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2024

1.


General information

LAKH Limited is a private company, limited by share capital, incorporated in England and Wales. The registered office address is Springfield House, Springfield Road, Horsham, West Sussex, RH12 2RG.
The presentational and functional currency is £ sterling.
The figures in the financial statements have been rounded to the nearest £1.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue derived from property rentals is recognised in the period that the rentals relate to. Revenue derived from consultancy income is recognised at the point the work is completed. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts and rebates.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Pensions

The company makes payments into the directors personal pension fund. The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
LAKH Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.6

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, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%
straight line

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.

 
2.7

Investment property

Investment property is carried at fair value determined by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

Page 6

 
LAKH Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

 
2.8

Debtors

Short term debtors are measured at transaction price, less any impairment.

Page 7

 
LAKH Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2024

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short term creditors are measured at the transaction price.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4). 


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 July 2023
610



At 30 June 2024

610



Depreciation


At 1 July 2023
610



At 30 June 2024

610



Net book value



At 30 June 2024
-



At 30 June 2023
-

Page 8

 
LAKH Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
1,809,950


Surplus on revaluation
(114,950)



At 30 June 2024
1,695,000

The 2024 valuations were made by Ashton Burkinshaw and Martin & Co, on an open market value for existing use basis.



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

2024
2023
£
£


Historic cost
1,159,802
1,159,802

1,159,802
1,159,802


6.


Debtors

2024
2023
£
£


Other debtors
144
144

Prepayments and accrued income
341
812

485
956



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
3,995

Corporation tax
4,502
957

Other creditors
1,019,181
1,032,451

Accruals and deferred income
5,712
4,976

1,029,395
1,042,379


Page 9

 
LAKH Limited
 

 
Notes to the Financial Statements
For the Year Ended 30 June 2024

8.


Deferred taxation




2024
2023


£

£






At beginning of year
(119,209)
(101,869)


Charged to profit or loss
28,737
(17,340)



At end of year
(90,472)
(119,209)

2024
2023
£
£


Unrealised gain on investment property
(90,472)
(119,209)

(90,472)
(119,209)


9.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



60 (2023 - 60) Ordinary A shares shares of £1 each
60
60
40 (2023 - 40) Ordinary B shares shares of £1 each
40
40

100

100



10.


Reserves

Investment property revaluation reserve

The investment property revaluation reserve includes the unrealised gains on the revaluation of the investment properties, net of deferred taxation.

Profit and loss account

The profit and loss account includes all retained profits, net of dividends declared.


11.


Pension commitments

The pension cost charge represents contributions payable by the Company to an independently administered pension fund. Payments to the fund during the year amounted to £13,600 (2023 - £2,700).           
As at the balance sheet date contributions totalling £Nil (2023: £Nil) were payable to the fund.

Page 10