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Company No: 12904885 (England and Wales)

LAUBENJAS INVESTMENTS LTD

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

LAUBENJAS INVESTMENTS LTD

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

LAUBENJAS INVESTMENTS LTD

STATEMENT OF FINANCIAL POSITION

As at 30 September 2024
LAUBENJAS INVESTMENTS LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 September 2024
Note 2024 2023
£ £
Restated - note 2
Fixed assets
Tangible assets 4 1,447 483
Investment property 5 9,275,359 7,750,475
Investments 6 1 50
9,276,807 7,751,008
Current assets
Debtors
- due within one year 7 60,315 9,276
- due after more than one year 7 493,627 493,627
Cash at bank and in hand 1,824 10,223
555,766 513,126
Creditors: amounts falling due within one year 8 ( 183,526) ( 168,304)
Net current assets 372,240 344,822
Total assets less current liabilities 9,649,047 8,095,830
Creditors: amounts falling due after more than one year 9 ( 10,793,886) ( 8,425,990)
Net liabilities ( 1,144,839) ( 330,160)
Capital and reserves
Called-up share capital 10 430 430
Profit and loss account ( 1,145,269 ) ( 330,590 )
Total shareholders' deficit ( 1,144,839) ( 330,160)

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.

Director's responsibilities:

The financial statements of Laubenjas Investments Ltd (registered number: 12904885) were approved and authorised for issue by the Director. They were signed on its behalf by:

J S Randall
Director

25 June 2025

LAUBENJAS INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
LAUBENJAS INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Laubenjas Investments Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 10 -12 Perrin's Court, London, NW3 1QS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

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

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Prior year adjustment

During the preparation of the current year's financial statements, a prior year omission was identified that relates to the financial year ended 30 September 2023. The omission has been corrected by restating the comparative amounts for the affected financial statement line items for the prior period presented.

The omission related to the failure to record revenue as well as the misstatement of assets and liabilities. As a result, the 2023 balance sheet and income statement have been restated to reflect the correction of this error.

The details of the restatement, including the impact on individual line items and overall financial performance and position, are disclosed in Note 2 to the financial statements.

The correction of the prior year omission has been applied retrospectively, and there is no impact on current year results other than through restated opening balances.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Comprehensive Income in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Turnover comprises of revenue recognised by the company in respect of rental income over the period for which it was due.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 4 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to and from related parties.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Prior year adjustment

During the preparation of the current year's financial statements, a prior year omission was identified that relates to the financial year ended 30 September 2023. The omission has been corrected by restating the comparative amounts for the affected financial statement line items for the prior period presented.

The omission related to the failure to record revenue as well as the misstatement of assets and liabilities. As a result, the 2023 balance sheet and income statement have been restated to reflect the correction of this error.

The correction of the prior year omission has been applied retrospectively, and there is no impact on current year results other than through restated opening balances.

As previously reported Adjustment As restated
Year ended 30 September 2023 £ £ £
Income from other fixed asset investments 0 92,604 92,604
Investments 0 1,477 1,477
Debtors: due after more than one year 0 293,627 293,627
Creditors: amounts falling due within one year (32,804) (402,499) (435,303)
Creditors: amounts falling due after more than one year (8,158,990) 200,000 (7,958,990)
Profit and loss account (423,194) 92,604 (330,590)
Total comprehensive (loss)/income for the financial year (422,655) 92,604 (330,051)

3. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including the director 1 1

4. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 October 2023 539 0 539
Additions 0 1,099 1,099
At 30 September 2024 539 1,099 1,638
Accumulated depreciation
At 01 October 2023 56 0 56
Charge for the financial year 135 0 135
At 30 September 2024 191 0 191
Net book value
At 30 September 2024 348 1,099 1,447
At 30 September 2023 483 0 483

5. Investment property

Investment property
£
Valuation
As at 01 October 2023 7,750,475
Additions 1,524,884
As at 30 September 2024 9,275,359

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

6. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 October 2023 0
Additions 1
At 30 September 2024 1
Carrying value at 30 September 2024 1
Carrying value at 30 September 2023 0

Other investments Total
£ £
Cost or valuation before impairment
At 01 October 2023 50 50
Disposals ( 50) ( 50)
At 30 September 2024 0 0
Carrying value at 30 September 2024 0 0
Carrying value at 30 September 2023 50 50

7. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Prepayments 0 7,519
Other debtors 60,315 1,757
60,315 9,276
Debtors: amounts falling due after more than one year
Other debtors 493,627 493,627

8. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 17 27,404
Amounts owed to director 151,749 135,371
Accruals and deferred income 31,760 5,400
Other creditors 0 129
183,526 168,304

9. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other loans 1,008,008 200,000
Other creditors 9,785,878 8,225,990
10,793,886 8,425,990

Other creditors include the amounts owed to a company director and their close family members. The company has taken advantage of the exemption conferred by FRS 102 section 11.13A which allows the entity to initially measure a basic financial liability at the transaction price, rather than at present value, if the loan is from a director or their close family members. Therefore, the amounts have not been discounted.

10. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary A shares of £ 1.00 each 100 100
110 Ordinary B shares of £ 1.00 each 110 110
110 Ordinary C shares of £ 1.00 each 110 110
110 Ordinary D shares of £ 1.00 each 110 110
430 430

11. Related party transactions

Transactions with the entity's director

2024 2023
£ £
Included within creditors is a balance owed to the director. 151,749 135,371

This balance is unsecured, interest free and repayable on demand. There were no repayments made during the period.

Other related party transactions

Included within debtors is a balance of £493,627 (2023: £493,627) owed by other associated companies. This loan is unsecured and interest free with no fixed terms of repayment.

Included within creditors is a balance of £9,785,878 (2023: £8,225,990) owed to the director and his family. This loan is unsecured and interest free. There were no repayments made during the period.

Included within creditors is a balance of £1,008,008 (2023: £200,000) owed to other associated companies. On completion of the development the loan shall be secured by a first-ranking legal charge over the property in favour of the lender. Interest is being charged on a quarterly basis at 4% above the base rate. This loan is repayable within 10 years after the completion of the development and full letting of the flats, or on sale of the flats, whichever is earlier. There were no repayments made during the period.