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Registered number: 05869361









LARKSHALL PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
LARKSHALL PROPERTIES LIMITED
REGISTERED NUMBER: 05869361

BALANCE SHEET
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
14,484
17,041

Investment property
 5 
1,679,968
1,679,968

  
1,694,452
1,697,009

Current assets
  

Debtors: amounts falling due within one year
 6 
818
343

Cash at bank and in hand
  
10,655
21,295

  
11,473
21,638

Creditors: amounts falling due within one year
 7 
(108,690)
(135,854)

Net current liabilities
  
 
 
(97,217)
 
 
(114,216)

Total assets less current liabilities
  
1,597,235
1,582,793

Creditors: amounts falling due after more than one year
 8 
(612,219)
(639,350)

Provisions for liabilities
  

Deferred tax
 10 
(180,871)
(180,871)

Net assets
  
804,145
762,572


Capital and reserves
  

Called up share capital 
 11 
100
100

Revaluation reserve
  
542,611
542,611

Profit and loss account
  
261,434
219,861

  
804,145
762,572


Page 1

 
LARKSHALL PROPERTIES LIMITED
REGISTERED NUMBER: 05869361
    
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 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 22 April 2025.




................................................
N C Stahl
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
LARKSHALL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Larkshall Property Limited ("the Company") is a private limited company limited by shares, incorporated in England and Wales. Its registered office is 440 Larkshall Road, Chingford, London, E4 9HH.

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 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:

Rental income
Rental income from operating leases is recognised on a straight line basis over the term of the lease.

 
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

Borrowing costs

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

Page 3

 
LARKSHALL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 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, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%
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.

Page 4

 
LARKSHALL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.7

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.8

Investment property

Investment properties are 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 the Statement of comprehensive income.

 
2.9

Debtors

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

 
2.10

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.

 
2.11

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.

 
2.12

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.

Page 5

 
LARKSHALL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

3.


Employees




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


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 August 2023
44,302



At 31 July 2024

44,302



Depreciation


At 1 August 2023
27,261


Charge for the year on owned assets
2,557



At 31 July 2024

29,818



Net book value



At 31 July 2024
14,484



At 31 July 2023
17,041

Page 6

 
LARKSHALL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Investment property


Freehold investment property

£



Valuation


At 1 August 2023
1,679,968



At 31 July 2024
1,679,968

The 2024 valuations were made by Paul Hubbard Estate Agents, 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
956,486
956,486


6.


Debtors

2024
2023
£
£


Trade debtors
818
343



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
55,849
55,850

Trade creditors
520
-

Corporation tax
15,028
10,649

Other creditors
31,793
63,855

Accruals and deferred income
5,500
5,500

108,690
135,854


Page 7

 
LARKSHALL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
612,219
639,350



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
55,849
55,850

Amounts falling due 1-2 years

Bank loans
55,851
55,850

Amounts falling due 2-5 years

Bank loans
167,552
167,552

Amounts falling due after more than 5 years

Bank loans
388,816
415,948

668,068
695,200


At the balance sheet date loans of £668,068 (2023 - £695,200) were secured against the assets of the business.


10.


Deferred taxation




2024


£






At beginning of year
(180,871)



At end of year
(180,871)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Unrealised gain on revaluation of investment property
180,871
180,871

Page 8

 
LARKSHALL PROPERTIES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares shares of £1.00 each
100
100



12.


Lease of assets

The Company has aggregate rentals receivable in relation to operating leases of £102,620 (2023 - £98,450).
At the year end, the Company held fixed assets used in operating leases at a cost of £1,679,978
 (2023 -£1,679,978). There is no related depreciation (2023 - £Nil).


13.


Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the balance sheet date.


14.


Controlling party

The Company's ultimate controlling party is Mr N Stahl.

 
Page 9