REGISTERED NUMBER: SC576941 (Scotland)

Audited Financial Statements

for the Period 1 January 2025 to 30 September 2025

for

Lareine Engineering (Holdings) Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Investments

4

-

80,350

CURRENT ASSETS

Cash at bank

-

7

TOTAL ASSETS LESS CURRENT LIABILITIES

-

80,357

CAPITAL AND RESERVES

Called up share capital

2,040,000

2,040,000

Retained earnings

(2,040,000

)

(1,959,643

)

-

80,357

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 September 2026 and were signed on its behalf by:

Mr T J White - Director

1.	STATUTORY INFORMATION

Lareine Engineering (Holdings) Limited is a private company, limited by shares, registered in Scotland, registration number SC576941. The registered office is Unit 128 Firth Road, Houston Industrial Estate, Livingston, EH54 5DJ.

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.

The financial statements have not been prepared on a going concern basis as the directors have decided to cease trading and place the company into voluntary liquidation. The directors have assessed the recoverability of the assets held by the company and made provision down to recoverable value where required. The directors have classified all assets and liabilities as current.

Preparation of consolidated financial statements

The financial statements contain information about Lareine Engineering (Holdings) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Significant judgements and estimates

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are outlined below.

1. Investment valuation and provisions

Management assesses at each reporting date whether there is an indication that fixed asset investments may be impaired. Determining whether an investment is impaired requires an estimation of the value in use or fair value less costs to sell of the underlying business or asset-generating unit.The value in use calculation requires the entity to estimate the future cash flows expected to arise from the cash-generating unit and a suitable discount rate in order to calculate present value. Where fair value is used, management relies on independent valuations, recent market transactions, or adjusted net asset values of the investee. If the actual future cash flows or market conditions are lower than estimated, or if changes in the discount rate occur, further impairment provisions may be required against the carrying value of the fixed asset investments in future periods.

Investments in subsidiaries

Investments in subsidiaries are recognised at cost less any accumulated impairment losses.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Basic financial assets (including trade and other debtors, cash and bank balances) and basic financial liabilities (including trade and other creditors) are initially measured at the transaction price. They are subsequently measured at amortized cost using the effective interest method, less any provision for impairment.

At the end of each reporting period, the company assesses whether there is objective evidence of impairment of any financial asset. If there is, an impairment loss is recognised in the income statement.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled, or expires.

Taxation

Taxation for the period 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 period 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.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2024 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2025

80,350

Impairments

(80,350

)

At 30 September 2025

-

NET BOOK VALUE

At 30 September 2025

-

At 31 December 2024

80,350

5.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Financial statements prepared on a basis other than going concern

We draw attention to the accounting policies of the financial statements which explains that the directors intend to liquidate the company and therefore do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern as described in the accounting policies. Our opinion is not modified in respect of this matter.

Craig Clinton (Senior Statutory Auditor)

for and on behalf of Drummond Laurie CA

6.	ULTIMATE PARENT ENTITY

Whitesales Holdings Limited is registered in England under registration number 13810801. The registered office is Europa House, Alfold Road, Cranleigh, Surrey, GU6 8NQ.