Lorca Properties Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04531498 (England and Wales)

Lorca Properties Limited

Unaudited Financial Statements for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs S L Bland

Mr D P Bland

SECRETARY:

Mr D P Bland

REGISTERED OFFICE:

Units 3 & 4

Dunley Hill Court

Ranmore Common

Dorking

Surrey

RH5 6SX

REGISTERED NUMBER:

04531498 (England and Wales)

ACCOUNTANTS:

Swindells LLP

Chartered Accountants

Atlantic House

8 Bell Lane

Bellbrook Industrial Estate

Uckfield

East Sussex

TN22 1QL

FIXED ASSETS

Investment property

4

1,262,500

CURRENT ASSETS

Debtors

5

5,651

31,676

Cash at bank

37,522

3,361

43,173

35,037

CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR

6

13,279

13,069

NET CURRENT ASSETS

29,894

21,968

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,292,394

1,284,468

CREDITORS: AMOUNTS FALLING DUE
AFTER MORE THAN ONE YEAR

7

(639,792

)

(644,335

)

PROVISIONS FOR LIABILITIES

(88,681

)

(88,681

)

NET ASSETS

563,921

551,452

CAPITAL AND RESERVES

Called up share capital

9

100

Fair value reserve

10

551,524

Retained earnings

10

12,297

(172

)

SHAREHOLDERS' FUNDS

563,921

551,452

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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2025 and were signed on its behalf by:

Mr D P Bland - Director

1.	STATUTORY INFORMATION

Lorca Properties Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

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. Movements in the valuation of properties are reflected in the fair value reserve, together with the related movement in deferred tax.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Deferred tax in respect of movements in the fair value of investment properties is recognised in the Profit and Loss Account, with an equal amount transferred from the Profit and Loss Reserve to the Fair Value Reserve.

Turnover

Rental income is recognised on a receivable basis in accordance with the terms of the lease agreements.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

1,262,500

NET BOOK VALUE

At 31 March 2025

1,262,500

At 31 March 2024

1,262,500

Investment properties are included in the accounts at 31 March 2025 at fair value. Fair value was determined by the directors.

Deferred tax is required to be accounted for on the revalued assets as corporation tax would currently be payable on disposal.

The investment properties have a historical cost of £622,295.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other debtors

5,651

31,676

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

4,530

5,135

Trade creditors

794

793

Taxation and social security

3,376

3,212

Other creditors

4,579

3,929

13,279

13,069

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans

639,792

644,335

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans

487,826

487,830

Repayable by instalments

Bank loans

131,872

137,330

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Mortgage loans

644,326

649,471

Lending is secured by way of a debenture over the properties to which they relate.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

40

Ordinary A

£1

40

60

Ordinary B

£1

60

100

All classes of shares rank pari passu in all respects.

10.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

At 1 April 2024

(172

)

551,524

551,352

Profit for the year

12,469

At 31 March 2025

12,297

551,524

563,821

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

Mr D P Bland and Mrs S L Bland

Balance outstanding at start of year

31,016

45,239

Amounts advanced

456

130,777

Amounts repaid

(32,315

)

(145,000

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(843

)

31,016

Interest was charged during the year on outstanding balances at 2.25%. Interest charged amounted to £476 (2024 - £777). Balances are unsecured and repayable on demand.