Lareine Engineering (Holdings) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: SC576941 (Scotland)

Audited Financial Statements for the Year Ended 31 December 2022

for

Lareine Engineering (Holdings) Limited

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Investments

4

1,356,625

2,040,003

CURRENT ASSETS

Cash at bank

7

7

CREDITORS

Amounts falling due within one year

5

(10

)

(10

)

NET CURRENT LIABILITIES

(3

)

(3

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,356,622

2,040,000

CAPITAL AND RESERVES

Called up share capital

2,040,000

2,040,000

Retained earnings

(683,378

)

-

1,356,622

2,040,000

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 29 September 2023 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.

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

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 year was NIL (2021 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2022

2,040,003

Impairments

(683,378

)

At 31 December 2022

1,356,625

NET BOOK VALUE

At 31 December 2022

1,356,625

At 31 December 2021

2,040,003

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Amounts owed to group undertakings

10

10

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

The Report of the Auditors was unqualified.

Ian Bilsland (Senior Statutory Auditor)

for and on behalf of Drummond Laurie CA

7.	ULTIMATE PARENT ENTITY

Whitesales Group Limited is registered in England under registration number 09187485. The registered office is Europa House, Alfold Road, Cranleigh, Surrey, GU6 8NQ.