Company Registration No. 11943378 (England and Wales)
LAURELLE PROPERTY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
LAURELLE PROPERTY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 8
LAURELLE PROPERTY LIMITED
BALANCE SHEET
AS AT
31 MAY 2025
31 May 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
-
0
-
0
Tangible assets
4
5,919,937
6,004,867
Current assets
Debtors
5
20,247
11,711
Cash at bank and in hand
20,111
2,776
40,358
14,487
Creditors: amounts falling due within one year
6
(1,772,992)
(2,869,081)
Net current liabilities
(1,732,634)
(2,854,594)
Total assets less current liabilities
4,187,303
3,150,273
Creditors: amounts falling due after more than one year
7
(3,833,599)
(3,833,765)
Provisions for liabilities
8
(231,855)
(162,109)
Net assets/(liabilities)
121,849
(845,601)
Capital and reserves
Called up share capital
200
100
Share premium account
1,204,920
-
0
Profit and loss reserves
(1,083,271)
(845,701)
Total equity
121,849
(845,601)

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 31 March 2026
O McMahon
Director
Company registration number 11943378 (England and Wales)
LAURELLE PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 2 -
1
Accounting policies
Company information

Laurelle Property Limited is a private company limited by shares incorporated in England and Wales. The registered office is Ground Floor, 1279 London Road, Leigh-on-Sea, Essex, SS9 2AD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company is a wholly owned subsidiary of Laurelle Holdings Limited.

In accordance with section 1A of FRS 102, the company has taken advantage of the exemption from disclosing certain related party transactions on the grounds that the parent entity prepares and publicly files consolidated financial statements which include the company. These consolidated financial statements are available to the public at Companies House.

1.2
Going concern

A true t the time of approving the financial statements, t he director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he director continues to adopt the going concern basis of accounting in preparing the financial statements.

The company is currently in a net liability position, however the director is confident group firms will continue to support the company. During the financial year the warehouse premises were rented generating economic inflows for the company; the director expects these economic inflows to continue which will allow the intercompany debt to be repaid. For these reasons the directors consider the company to be a going concern.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
50 year straight line (freehold land is not depreciated)
Fixtures and fittings
25% Reducing balance

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.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

LAURELLE PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 3 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.5
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 current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

LAURELLE PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable 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.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no key judgements and sources of estimation uncertainty that have significant effect on the amounts recognised in the financial statements.

LAURELLE PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
0
0
4
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Total
£
£
£
Cost
At 1 June 2024
6,157,860
41,465
6,199,325
Additions
7,500
8,050
15,550
At 31 May 2025
6,165,360
49,515
6,214,875
Depreciation and impairment
At 1 June 2024
171,682
22,776
194,458
Depreciation charged in the year
93,795
6,685
100,480
At 31 May 2025
265,477
29,461
294,938
Carrying amount
At 31 May 2025
5,899,883
20,054
5,919,937
At 31 May 2024
5,986,178
18,689
6,004,867

The total freehold land included within freehold land and buildings which is not subject to depreciation is £1,473,500 (2024: £1,473,500).

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
3,184
-
0
Other debtors
17,063
11,711
20,247
11,711
LAURELLE PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 6 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
19,589
1,122
Amounts owed to group undertakings
1,501,117
1,405,843
Other creditors
252,286
1,462,116
1,772,992
2,869,081
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
3,833,599
3,833,765

The total creditors secured on the companies tangible fixed assets at the year end is £3,833,599 (2024 - £3,833,765 included within in creditors due after 1 year).

Creditors which fall due after five years are as follows:
2025
2024
£
£
Payable other than by instalments
3,833,599
3,833,765
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
316,934
321,401
Tax losses
(85,079)
(159,292)
231,855
162,109
2025
Movements in the year:
£
Liability at 1 June 2024
162,109
Charge to profit or loss
69,746
Liability at 31 May 2025
231,855
LAURELLE PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 7 -
9
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 May 2025 and of its loss for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Neil Brewer
Statutory Auditor:
Rickard Luckin Limited
Date of audit report:
1 April 2026
LAURELLE PROPERTY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 8 -
10
Related party transactions

In accordance with FRS102 the company has not disclosed transactions with wholly owned subsidiaries of the group.

At the year end, amounts owed to group undertakings were £1,501,117 (2024 - £1,405,843).

11
Parent company

Laurelle Property Limited is a 100% subsidiary of Laurelle Holdings Limited, which is the ultimate parent company. Laurelle Holdings Limited has a registered office address of Ground Floor, 1279 London Road, Leigh-On-Sea, Essex, SS9 2AD.

The compan y's results are included in the consolidated accounts of Laurelle Holdings Limited which is both the largest and smallest group into which the entity is consolidated. The consolidated accounts of Laurelle Holdings Limited are publically available from the Companies House, Crown Way, Cardiff CF14 3UZ.

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