Lousada (Midlands) Limited - Accounts to registrar (filleted) - small 23.1.2

Lousada (Midlands) Limited - Accounts to registrar (filleted) - small 23.1.2

LOUSADA (MIDLANDS) LIMITED - Company Information

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LOUSADA (MIDLANDS) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH SEPTEMBER 2022





LOUSADA (MIDLANDS) LIMITED (REGISTERED NUMBER: 11718541)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LOUSADA (MIDLANDS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2022







DIRECTORS: S C Lousada
Mrs S J Lousada





REGISTERED OFFICE: Estate Office
Oakley House
Oakley
Bedford
Bedfordshire
MK43 7ST





REGISTERED NUMBER: 11718541 (England and Wales)





AUDITORS: HW East Midlands Audit LLP
Statutory Auditors
Woburn Court, 2 Railton Rd
Woburn Road Ind Est
Kempston
Bedfordshire
MK42 7PN
Page 1
LOUSADA (MIDLANDS) LIMITED (REGISTERED NUMBER: 11718541)

BALANCE SHEET
30TH SEPTEMBER 2022

30/9/22 30/9/21
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,334,803 -

CURRENT ASSETS
Debtors 5 36,750 100
Cash at bank 2,463 -
39,213 100
CREDITORS
Amounts falling due within one year 6 1,376,402 -
NET CURRENT (LIABILITIES)/ASSETS (1,337,189 ) 100
TOTAL ASSETS LESS CURRENT
LIABILITIES
(2,386
)
100

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (2,486 ) -
(2,386 ) 100

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6th June 2023 and were signed on its behalf by:





S C Lousada - Director


The notes form part of these financial statements

Page 2
LOUSADA (MIDLANDS) LIMITED (REGISTERED NUMBER: 11718541)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2022

1. STATUTORY INFORMATION

Lousada (Midlands) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 are presented in sterling which is the functional currency of the company and rounded to the nearest £.

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

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.

Turnover
Turnover represents rents received from tenants of investment property, stated net of value added tax.

Investment property
Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. No formal valuation has taken place during the year by a professional independent valuer. The current fair value is based on a recognised valuation model.

Taxation
Taxation for the year 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 year 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.

Going concern
The accounts have been prepared on a going concern basis as the company is supported by loans from the parent company.. The company has made a loss of £2,486 and has net liabilities of £2,386. The parent company has given assurances that it will continue to support the company for the foreseeable future.

Page 3 continued...
LOUSADA (MIDLANDS) LIMITED (REGISTERED NUMBER: 11718541)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2022

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 1,334,803
At 30th September 2022 1,334,803
NET BOOK VALUE
At 30th September 2022 1,334,803

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/22 30/9/21
£    £   
Amounts owed by group undertakings - 100
VAT 1,213 -
Prepayments and accrued income 35,537 -
36,750 100

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/9/22 30/9/21
£    £   
Amounts owed to group undertakings 1,374,678 -
Amounts owed to participating interests 774 -
Accruals and deferred income 950 -
1,376,402 -

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

The Report of the Auditors was unqualified.

Alberto Di Lorenzo FCA (Senior Statutory Auditor)
for and on behalf of HW East Midlands Audit LLP

8. ULTIMATE CONTROLLING PARTY

The controlling party is Lousada Plc.

The ultimate controlling party is Lousada Holdings Limited, which is controlled by Mr S C Lousada.

Page 4