Lucerne Properties Ltd

1. General Information

Lucerne Properties Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC703552 . The registered office is 9 Station Road, Blackridge, Bathgate, West Lothian, EH48 3AH.

2. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2024: NIL)

3. Prior Period Error

In preparing the financial statements for the year ended 31 March 2025, the directors identified that depreciation had not been charged on rental properties in the years ended 31 July 2022, 31 July 2023 and 31 March 2024. This was not in compliance with FRS 105 requirements.

The error has been corrected retrospectively by charging cumulative depreciation of £46,878 to opening reserves at 1 April 2024. Comparative figures for year ended 31 March 2024 have been restated accordingly.

Depreciation is now charged annually on a straight‑line basis over the estimated useful life of the properties.

Reconciliation of Opening Reserves (FRS 105)

Item Amount (£)

Opening reserves at 1 April 2024 (as previously stated) (830)

Less: cumulative depreciation not charged (2022–2024) (46,878)

Adjusted opening reserves at 31 March 2025 (47,708)

Reconciliation of Property Value

Item Amount (£)

Property cost 866,750

Less: cumulative depreciation (3 years) (46,878)

Net book value at 31 March 2025 819,872

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Lucerne Properties Ltd

Balance Sheet (continued)

As At 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the micro-entity provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

On behalf of the board

Mr M Crolla

Director

19/12/2025

	31 March 2025	31 March 2024 as restated
	£	£
Fixed assets	805,279	823,523

Current assets	2,866	1,579
Prepayments and accrued income	-	199
Creditors: Amounts Falling Due Within One Year	(876,269 )	(873,009 )

NET CURRENT LIABILITIES	(873,403 )	(871,231 )

TOTAL ASSETS LESS CURRENT LIABILITIES	(68,124 )	(47,708 )

NET LIABILITIES	(68,124 )	(47,708 )

CAPITAL AND RESERVES	(68,124 )	(47,708 )

Notes