Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30falseNo description of principal activity2023-05-0132falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 07900266 2023-05-01 2024-04-30 07900266 2022-05-01 2023-04-30 07900266 2024-04-30 07900266 2023-04-30 07900266 2022-05-01 07900266 c:Director2 2023-05-01 2024-04-30 07900266 d:PlantMachinery 2023-05-01 2024-04-30 07900266 d:PlantMachinery 2024-04-30 07900266 d:PlantMachinery 2023-04-30 07900266 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07900266 d:MotorVehicles 2023-05-01 2024-04-30 07900266 d:MotorVehicles 2024-04-30 07900266 d:MotorVehicles 2023-04-30 07900266 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07900266 d:FurnitureFittings 2023-05-01 2024-04-30 07900266 d:FurnitureFittings 2024-04-30 07900266 d:FurnitureFittings 2023-04-30 07900266 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07900266 d:OfficeEquipment 2023-05-01 2024-04-30 07900266 d:OfficeEquipment 2024-04-30 07900266 d:OfficeEquipment 2023-04-30 07900266 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07900266 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 07900266 d:FreeholdInvestmentProperty 2024-04-30 07900266 d:FreeholdInvestmentProperty 2023-04-30 07900266 d:CurrentFinancialInstruments 2024-04-30 07900266 d:CurrentFinancialInstruments 2023-04-30 07900266 d:Non-currentFinancialInstruments 2024-04-30 07900266 d:Non-currentFinancialInstruments 2023-04-30 07900266 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 07900266 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 07900266 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 07900266 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 07900266 d:ShareCapital 2024-04-30 07900266 d:ShareCapital 2023-04-30 07900266 d:SharePremium 2023-05-01 2024-04-30 07900266 d:SharePremium 2024-04-30 07900266 d:SharePremium 2023-04-30 07900266 d:InvestmentPropertiesRevaluationReserve 2023-05-01 2024-04-30 07900266 d:InvestmentPropertiesRevaluationReserve 2024-04-30 07900266 d:InvestmentPropertiesRevaluationReserve 2023-04-30 07900266 d:RetainedEarningsAccumulatedLosses 2023-05-01 2024-04-30 07900266 d:RetainedEarningsAccumulatedLosses 2024-04-30 07900266 d:RetainedEarningsAccumulatedLosses 2023-04-30 07900266 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 07900266 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 07900266 d:OtherDeferredTax 2024-04-30 07900266 d:OtherDeferredTax 2023-04-30 07900266 c:FRS102 2023-05-01 2024-04-30 07900266 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 07900266 c:FullAccounts 2023-05-01 2024-04-30 07900266 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 07900266 2 2023-05-01 2024-04-30 07900266 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 07900266









LAWRENCE ROAD PROPERTY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
LAWRENCE ROAD PROPERTY LIMITED
REGISTERED NUMBER: 07900266

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
30,413
29,493

Investment property
 5 
15,000,000
15,000,000

  
15,030,413
15,029,493

Current assets
  

Debtors: amounts falling due within one year
 6 
4,779,974
4,363,176

Cash at bank and in hand
 7 
1,402,842
1,502,114

  
6,182,816
5,865,290

Creditors: amounts falling due within one year
 8 
(2,537,033)
(370,651)

Net current assets
  
 
 
3,645,783
 
 
5,494,639

Total assets less current liabilities
  
18,676,196
20,524,132

Creditors: amounts falling due after more than one year
 9 
(15,001)
(2,025,000)

Provisions for liabilities
  

Deferred tax
 10 
(1,062,762)
(1,062,283)

  
 
 
(1,062,762)
 
 
(1,062,283)

Net assets
  
17,598,433
17,436,849


Capital and reserves
  

Called up share capital 
  
12
12

Share premium account
 11 
6,378,058
6,378,058

Investment property reserve
 11 
7,038,269
7,038,269

Profit and loss account
 11 
4,182,094
4,020,510

  
17,598,433
17,436,849


Page 1

 
LAWRENCE ROAD PROPERTY LIMITED
REGISTERED NUMBER: 07900266
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 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 by: 




................................................
Mr P Malik
Director

Date: 21 March 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
LAWRENCE ROAD PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Lawrence Road Property Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is 28 Lawrence Road, London, N15 4EG. The registered number is 07900266.

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 financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £1.

The following principal accounting policies have been applied:

 
2.2

Revenue

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, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

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

 
2.4

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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
LAWRENCE ROAD PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss 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.

 
2.7

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 corporation 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.

Page 4

 
LAWRENCE ROAD PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.8

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:

Plant and machinery
-
15%
reducing balance
Motor vehicles
-
25%
straight line
Fixtures and fittings
-
15%
reducing balance
Office equipment
-
3 years straight line basis

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.

 
2.9

Investment property

Investment property is carried at fair value determined annually 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 profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

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.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
LAWRENCE ROAD PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 2).

Page 6

 
LAWRENCE ROAD PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 May 2023
34,852
40,985
15,070
6,063
96,970


Additions
-
-
7,998
-
7,998


Disposals
-
-
-
(6,063)
(6,063)



At 30 April 2024

34,852
40,985
23,068
-
98,905



Depreciation


At 1 May 2023
11,743
39,277
10,396
6,063
67,479


Charge for the year on owned assets
3,467
1,708
1,901
-
7,076


Disposals
-
-
-
(6,063)
(6,063)



At 30 April 2024

15,210
40,985
12,297
-
68,492



Net book value



At 30 April 2024
19,642
-
10,771
-
30,413



At 30 April 2023
23,110
1,708
4,674
-
29,492

Page 7

 
LAWRENCE ROAD PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
15,000,000



At 30 April 2024
15,000,000

The 2024 valuations were made by the directors, on an open market value for existing use basis.

2024
2023
£
£

Revaluation reserves


At 1 May 2023
7,038,269
7,875,932

Net deficit in movement properties
-
(837,663)

At 30 April 2024
7,038,269
7,038,269





6.


Debtors

2024
2023
£
£


Trade debtors
12,917
14,706

Other debtors
4,757,420
4,342,189

Prepayments and accrued income
9,637
6,281

4,779,974
4,363,176



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,402,842
1,502,114

Less: bank overdrafts
(64,593)
(12,132)

1,338,249
1,489,982


Page 8

 
LAWRENCE ROAD PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
64,593
12,132

Bank loans
2,010,000
10,001

Payments received on account
178,262
169,812

Trade creditors
31,208
2,145

Corporation tax
159,693
122,464

Other taxation and social security
23,511
-

Other creditors
52,618
32,909

Accruals and deferred income
17,148
21,188

2,537,033
370,651



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
15,001
2,025,000

15,001
2,025,000



10.


Deferred taxation




2024
2023


£

£






At beginning of year
(1,062,282)
(955,143)


Charged to profit or loss
(480)
(107,140)



At end of year
(1,062,762)
(1,062,283)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
147
627

Capital gains on investment property
(1,062,909)
(1,062,909)

Page 9

 
LAWRENCE ROAD PROPERTY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

11.


Reserves

Share premium account

The share premium account represents amounts received in excess of the nominal value of the issued share capital. 

Investment property revaluation reserve

The investment property revaluation reserve relates to amounts arising on the revaluation of investment property, net of associated deferred tax. The reserve is a non-distributable reserve.

Profit and loss account

The profit and loss account represents cumulative net gains and losses less distributions made.


12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £Nil (2023 - £16,666). No contributions were payable to the fund at either balance sheet date.


13.


Related party transactions

At the balance sheet date, £4,756,241 (2023 - £4,321,270) was due from companies under the common control of the Mr B S Gill, a director and the ultimate controlling party. These are loans which are interest free and repayable on demand.


14.


Controlling party

The immediate controlling party is Lawrence Road (Holdings) Limited, a company incorproated in England, due to its interest in 100% of the company's issued share capital. The group is exempt from the requirement to prepare conslidated financial statements as it meets the exemption criteria included within the Companies Act 2006.
The ultimate controlling party is Mr B S Gill, a director.

 
Page 10