Registration number: NI647799

Lobaro Properties Ltd

(Registration number: NI647799)
Balance Sheet as at 30 September 2024

	Note	2024 £	2023 £
Fixed assets
Investment property	4	200,000	200,000
Current assets
Debtors	5	2	2
Cash at bank and in hand		1,535	3,516
		1,537	3,518
Creditors: Amounts falling due within one year	6	(11,752)	(25,828)
Net current liabilities		(10,215)	(22,310)
Total assets less current liabilities		189,785	177,690
Provisions for liabilities		(31,639)	(31,639)
Net assets		158,146	146,051
Capital and reserves
Called up share capital	7	2	2
Retained earnings		158,144	146,049
Shareholders' funds		158,146	146,051

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Lobaro Properties Ltd

(Registration number: NI647799)
Balance Sheet as at 30 September 2024

Approved and authorised by the Board on 6 March 2025 and signed on its behalf by:
 

......................................... Mr Andrew Robert Woodside Nelson Director

......................................... Mr Matthew Meharg Director

Lobaro Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1	General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: 60 Collin Road, Tildarg, Ballyclare, Co Antrim, BT39 9TF.

These financial statements were authorised for issue by the Board on 6 March 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Rental income represents total invoiced amounts for the accounting period. The company recognises rental income when the amount can be reliably measured and it is probable that future economic benefits will flow to the entity.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Lobaro Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4	Investment properties

	2024 £
At 1 October	200,000
At 30 September	200,000

The Company's investment property was revalued by the Directors during the year ended 30th September 2022. The Directors still consider this to be a fair market value.

5

Debtors

Current	2024 £	2023 £
Other debtors	2	2
	2	2

Lobaro Properties Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Taxation and social security	2,789	2,610
Accruals and deferred income	1,763	418
Other creditors	7,200	22,800
	11,752	25,828