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GEORGE LAURENCE PROPERTIES LIMITED

Registered Number
11982616
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

GEORGE LAURENCE PROPERTIES LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

GLP O'Toole

Registered Address

12a Marlborough Place
Brighton
BN1 1WN

Registered Number

11982616 (England and Wales)
GEORGE LAURENCE PROPERTIES LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3-13
Investment property4471,940471,940
471,940471,953
Current assets
Cash at bank and on hand2,7331,814
2,7331,814
Creditors amounts falling due within one year5(481,590)(485,410)
Net current assets (liabilities)(478,857)(483,596)
Total assets less current liabilities(6,917)(11,643)
Creditors amounts falling due after one year6(22,013)(32,956)
Accruals and deferred income(720)(1,320)
Net assets(29,650)(45,919)
Capital and reserves
Called up share capital100100
Profit and loss account(29,750)(46,019)
Shareholders' funds(29,650)(45,919)
The financial statements were approved and authorised for issue by the Director on 12 February 2025, and are signed on its behalf by:
GLP O'Toole
Director
Registered Company No. 11982616
GEORGE LAURENCE PROPERTIES LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment3
Investment property
Investment property is included at fair value and depreciation is not charged in accordance with the Companies Act 2006 stipulations in relation to investment property and the revaluation model procedure laid down in Section 1A 'Small Entities' of Financial Reporting Standard 102. Gains are recognised in the income statement but are not distributable. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 June 231,8981,898
At 31 May 241,8981,898
Depreciation and impairment
At 01 June 231,8851,885
Charge for year1313
At 31 May 241,8981,898
Net book value
At 31 May 24--
At 31 May 231313
4.Investment property

£
Fair value at 01 June 23471,940
At 31 May 24471,940
5.Creditors: amounts due within one year

2024

2023

££
Other creditors481,590485,410
Total481,590485,410
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts22,01332,956
Total22,01332,956
7.Related party transactions
Included in the financial statements are the following significant transactions and balances with related parties: George Laurence Limited, a company controlled by the director, Mr G O'Toole: Creditors: Amounts falling due within one year £481,590 (2023: £485,410).