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Registration number: 08789895

Laclare Limited
Unaudited Filleted Financial Statements
for the Year Ended 31 October 2025

Laclare Limited

Contents

Statement of Financial Position | 1
Notes to the Unaudited Financial Statements | 2 to 5

Laclare Limited

(Registration number: 08789895)
Statement of Financial Position as at 31 October 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Investment property | 4 | 240,000 | 240,000
Current assets |  |  |
Cash at bank and in hand |  | 46,911 | 59,015
Creditors: Amounts falling due within one year | 5 | (169,520) | (193,916)
Net current liabilities |  | (122,609) | (134,901)
Total assets less current liabilities |  | 117,391 | 105,099
Provisions for liabilities |  | (2,229) | (2,229)
Net assets |  | 115,162 | 102,870
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Profit and loss account |  | 115,062 | 102,770
Shareholders' funds |  | 115,162 | 102,870

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

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 10 April 2026 and signed on its behalf by:

Mr D J Mulvihill Director

Laclare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

1 | General information

The company is a private company limited by share capital, incorporated in England .

The address of its registered office is:
26-28 Southernhay East
Exeter
Devon
EX1 1NS

Principal activity

The principal activity of the company is property development and rental.

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Laclare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

2 | Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Laclare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

2 | Accounting policies (continued)

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit and loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

4 | Investment properties

| 2025 £
At 1 November | 240,000
At 31 October | 240,000

There has been no valuation of investment property by an independent valuer.

Laclare Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025 (continued)

5 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Trade creditors | 595 | 576
Taxation and social security | 2,883 | 2,857
Accruals and deferred income | 2,581 | 2,030
Other creditors | 163,461 | 188,453
| 169,520 | 193,916

6 | Reserves

Profit and loss account:
This reserve records retained earnings and accumulated losses. Included within this reserve are non-distributable reserves relating to the revaluation of investment properties totalling £24,709.

7 | Related party transactions

Transactions with directors

2025 | At 1 November 2024 £ | At 31 October 2025 £
Director 1 | (763) | (763)

2024 | At 1 November 2023 £ | Advances to director £ | Repayments by director £ | At 31 October 2024 £
Director 1 | (908) | 177 | (32) | (763)