REGISTERED NUMBER: 04439416 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Philip Laing Ltd

T/A

Laing Developments

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P A Laing

Mrs S E Laing

REGISTERED OFFICE:

Unit 11

The Office Village

North Road

Loughborough

Leicestershire

LE11 1QJ

REGISTERED NUMBER:

04439416 (England and Wales)

ACCOUNTANTS:

Brockhurst Davies Limited

11 The Office Village

North Road

Loughborough

Leicestershire

LE11 1QJ

FIXED ASSETS

Tangible assets

4

6,789

8,916

Investment property

5

1,388,280

1,388,280

1,395,069

1,397,196

CURRENT ASSETS

Debtors

13,775

11,876

Cash at bank and in hand

26,950

56,650

40,725

68,526

CREDITORS

Amounts falling due within one year

422,767

397,601

NET CURRENT LIABILITIES

(382,042

)

(329,075

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,013,027

1,068,121

CREDITORS

Amounts falling due after more than one year

(294,426

)

(303,279

)

PROVISIONS FOR LIABILITIES

(149,567

)

(150,100

)

NET ASSETS

569,034

614,742

CAPITAL AND RESERVES

Called up share capital

100

100

Revaluation Reserve

8

503,927

503,927

Retained earnings

65,007

110,715

569,034

614,742

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

P A Laing - Director

1.	STATUTORY INFORMATION

Philip Laing Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2024

27,001

Additions

775

At 31 March 2025

27,776

DEPRECIATION

At 1 April 2024

18,085

Charge for year

2,902

At 31 March 2025

20,987

NET BOOK VALUE

At 31 March 2025

6,789

At 31 March 2024

8,916

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

1,388,280

NET BOOK VALUE

At 31 March 2025

1,388,280

At 31 March 2024

1,388,280

Fair value at 31 March 2025 is represented by:

£

Valuation in 2022

480,517

Valuation in 2024

171,280

Cost

736,483

1,388,280

Investment properties were revalued by the director at 31 March 2024 and 2025.

6.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loans

11,803

14,754

Amounts falling due between one and two years:

Bank loans - 1-2 years

11,803

14,754

Amounts falling due between two and five years:

Bank loans - 2-5 years

82,623

88,525

7.	SECURED DEBTS

The bank loan is secured via debentures and charges against Newlin Business Park, Exchange Road, North Hykeham, Lincoln LN6 2RT.

8.

RESERVES

Revaluation

Reserve

£

At 1 April 2024

and 31 March 2025

503,927