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Company Registration No. 11997817 (England and Wales)
LAIRES LIMITED
Financial Statements
for the Period from 01 June 2025 to 31 May 2026

LAIRES LIMITED

Financial Statements for the period ending 31 May 2026

CONTENTS PAGE
Company Information 2
Statement of Financial Position 3
Notes to the Accounts 4
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LAIRES LIMITED

Financial Statements for the period ending 31 May 2026

Company Information

Company Details
Company Number 11997817
Registered Office 27 OLD GLOUCESTER STREET
LONDON
WC1N 3AX
Directors
Directors who held office during the period were:
Robin Alexander DA SILVA LAIRES   
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LAIRES LIMITED

Financial Statements for the period ending 31 May 2026

Statement of Financial Position

123456789101112
Notes 2026 2025
£ £
Fixed Assets
Tangible assets 5 2,922 3,653
Investment Properties 6 1,359,000 1,277,595
Current Assets
Debtors due 7 737 -
Cash at bank and in hand 19,141 28,246
19,878 28,246
Creditors
Amount falling due within one year 8 (1,079,157) (1,075,584)
Net Current Assets (1,059,279) (1,047,338)
Total Assets less current liabilities 302,643 233,910
Creditors due after more than one year 9 (502,804) (493,298)
Net Assets (200,161) (259,388)
Capital and Reserves
Called up Share Capital 1 1
Revaluation Reserve 138,539 117,837
Retained earnings at end of year (338,701) (377,226)
Shareholder funds (200,161) (259,388)
For the year ending 31/05/2026 the company was entitled to exemption 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).
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 provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities.
Approved by the Board on 03 November 2026
Robin Alexander Da Silva Laires
Company Registration No. 11997817
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LAIRES LIMITED

Financial Statements for the period ending 31 May 2026

Notes to the Accounts

1. Statutory Information
LAIRES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11997817.
2. Accounting Policies
Basis of preparing the Financial Statements
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. They are prepared under the historical cost convention, modified by the measurement of investment property at fair value.Going concern: The company has net liabilities, mainly because its properties are funded by interest-free loans from the director and a shareholder. Both lenders have agreed not to demand repayment within 12 months of the approval of these financial statements. The financial statements are therefore prepared on a going concern basis.Key estimate: The main estimate is the fair value of the investment properties, which the director valued at 31 May 2026.
Presentation Currency
The accounts are presented in £ sterling.
Turnover
Turnover is rent receivable from let properties, net of VAT where applicable. It is recognised in the period to which the rent relates.
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LAIRES LIMITED

Financial Statements for the period ending 31 May 2026

Notes to the Accounts

Current Tax
No corporation tax is payable for the year (2025: nil). The taxable rental profit is covered by the deficit on the company's loan relationships (mortgage interest and loan costs).
Tangible Fixed Asset Policy
Fixtures and fittings are stated at cost less accumulated depreciation. Depreciation is charged at 20% a year on the reducing balance.
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LAIRES LIMITED

Financial Statements for the period ending 31 May 2026

Notes to the Accounts

Deferred Tax
No deferred tax is recognised (2025: nil). At 31 May 2026 the fair value of the properties is £93,821 below their tax cost. The resulting deferred tax asset (about £23,000) and the asset on tax losses carried forward are not recognised, because their recovery is not probable.
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LAIRES LIMITED

Financial Statements for the period ending 31 May 2026

Notes to the Accounts

3. Employees
Average number of employees, including directors, during the year was as follows:
2026 1
2025 1
4. Principal Activity
The principal activity of the company is the letting of residential property.
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LAIRES LIMITED

Financial Statements for the period ending 31 May 2026

Notes to the Accounts

5. Fixed Assets
Fixtures and Fittings Total
Cost or valuation £ £
At 01/06/2025 4,408 4,408
Additions - -
At 31/05/2026 4,408 4,408
Depreciation
At 01/06/2025 755 755
Charge for the year 731 731
At 31/05/2026 1,486 1,486
Net Book Value
At 31/05/2026 2,922 2,922
At 31/05/2025 3,653 3,653
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LAIRES LIMITED

Financial Statements for the period ending 31 May 2026

Notes to the Accounts

6. Investment Properties
2026 2025
£ £
Valuation at 01/06/2025 1,277,595 1,269,796
Additions 11,460 -
Disposals - -
Transfered (to)/from tangible fixed assets - -
Fair Value adjustments 69,945 7,799
Valuation at 31/05/2026 1,359,000 1,277,595
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LAIRES LIMITED

Financial Statements for the period ending 31 May 2026

Notes to the Accounts

7. Debtors
2026 2025
£ £
Prepayment and accrued income 737 -
737 -
8. Creditors: amount falling due within one year
2026 2025
£ £
Other Creditors 1,076,270 1,075,104
Accruals and deferred income 2,887 480
1,079,157 1,075,584
Creditors Due within one year
Other creditors include interest-free loans from the director and a shareholder, which have no fixed repayment date.
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LAIRES LIMITED

Financial Statements for the period ending 31 May 2026

Notes to the Accounts

9. Creditors: amount falling due after one year
2026 2025
£ £
Bank Loans and overdrafts 502,804 493,298
502,804 493,298
Creditors Due after one year
Bank loans of £502,804 (2025: £493,298) are secured on the company's properties. They are interest-only and the whole amount falls due after more than five years.
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LAIRES LIMITED

Financial Statements for the period ending 31 May 2026

Notes to the Accounts

10. Directors advances, Credits and Guarantees
No advances or credits were made by the company to its director. At 31 May 2026 the company owed the director £566,504 (2025: £566,504) and a shareholder £509,766 (2025: £508,600) under interest-free loans with no fixed repayment date.
11. Post Balance Sheet Events
On 3 November 2026 the director and a shareholder agreed not to demand repayment of their loans to the company within 12 months of the approval of these financial statements. At 31 May 2026 the loans were repayable on demand, so they are shown as falling due within one year.
12. Additional Notes
Prior-period adjustment: the comparative figures have been restated to correct errors in earlier years in the valuation of one property, the presentation of the properties as investment property, and the year in which remortgage costs were recorded. Net liabilities at 31 May 2025 are restated from £6,518 to £259,388. Corporation tax is not affected.Capital commitments: none at 31 May 2026 (2025: none).
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