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REGISTERED NUMBER: 03465098 (England and Wales)















Financial Statements for the Year Ended 30th November 2023

for

Lower East Ltd.

Lower East Ltd. (Registered number: 03465098)






Contents of the Financial Statements
for the Year Ended 30th November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Lower East Ltd.

Company Information
for the Year Ended 30th November 2023







DIRECTOR: Mr N P J Hornby





SECRETARY: Ms A R Posey





REGISTERED OFFICE: 34-35 Clarges Street
Mayfair
London
W1J 7EJ





REGISTERED NUMBER: 03465098 (England and Wales)





ACCOUNTANTS: Sampson Fielding Ltd
34 - 35 Clarges Street
Mayfair
London
W1J 7EJ

Lower East Ltd. (Registered number: 03465098)

Balance Sheet
30th November 2023

30/11/23 30/11/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 269,731 274,827
Investments 5 1,720,565 1,682,897
1,990,296 1,957,724

CURRENT ASSETS
Debtors 6 181,245 51,500
Cash at bank 978,083 895,309
1,159,328 946,809
CREDITORS
Amounts falling due within one year 7 80,163 38,991
NET CURRENT ASSETS 1,079,165 907,818
TOTAL ASSETS LESS CURRENT LIABILITIES 3,069,461 2,865,542

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 8 153,338 163,169
Retained earnings 2,916,023 2,702,273
SHAREHOLDERS' FUNDS 3,069,461 2,865,542

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27th August 2024 and were signed by:





Mr N P J Hornby - Director


Lower East Ltd. (Registered number: 03465098)

Notes to the Financial Statements
for the Year Ended 30th November 2023

1. STATUTORY INFORMATION

Lower East Ltd. 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 as modified by the revaluation of certain assets.

Turnover
Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.
Revenue is recognised when goods are dispatched.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures and Fittings - 10% straight line
Office Equipment - 20% straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 taxation
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Lower East Ltd. (Registered number: 03465098)

Notes to the Financial Statements - continued
for the Year Ended 30th November 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1st December 2022
and 30th November 2023 269,731 23,185 14,340 9,589 316,845
DEPRECIATION
At 1st December 2022 - 18,089 14,340 9,589 42,018
Charge for year - 5,096 - - 5,096
At 30th November 2023 - 23,185 14,340 9,589 47,114
NET BOOK VALUE
At 30th November 2023 269,731 - - - 269,731
At 30th November 2022 269,731 5,096 - - 274,827

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
30/11/23 30/11/22
£    £   
Other FA invests - cost b/f 1,682,896 2,116,953
Additions 1,555,394 941,823
Disposals (1,517,725 ) (1,375,879 )
1,720,565 1,682,897

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Trade debtors 126,000 -
Other debtors 55,245 51,500
181,245 51,500

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/11/23 30/11/22
£    £   
Taxation and social security 77,836 36,171
Other creditors 2,327 2,820
80,163 38,991

8. RESERVES
Fair
value
reserve
£   
At 1st December 2022 163,169
Revaluation in the year (9,831 )

At 30th November 2023 153,338