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REGISTERED NUMBER: 11637443 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

LOLA PROPERTY INVESTMENTS LTD

LOLA PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 11637443)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOLA PROPERTY INVESTMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: L Patterson
A E Ward





REGISTERED OFFICE: Jackson House
95a Station Road
Chingford
London
E4 7BU





REGISTERED NUMBER: 11637443 (England and Wales)





ACCOUNTANTS: Barrow LLP
Chartered Accountants
Jackson House
Station Road
Chingford
London
E4 7BU

LOLA PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 11637443)

BALANCE SHEET
31 OCTOBER 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Tangible assets 5 609 543
Investment property 6 10,400,000 8,500,000
10,400,609 8,500,543

CURRENT ASSETS
Debtors 7 26,363 64,148
Cash at bank 129,389 48,711
155,752 112,859
CREDITORS
Amounts falling due within one year 8 (1,044,220 ) (877,015 )
NET CURRENT LIABILITIES (888,468 ) (764,156 )
TOTAL ASSETS LESS CURRENT LIABILITIES 9,512,141 7,736,387

CREDITORS
Amounts falling due after more than one year 9 (6,276,583 ) (5,579,237 )

PROVISIONS FOR LIABILITIES (812,232 ) (503,406 )

ACCRUALS AND DEFERRED INCOME (120,833 ) -
NET ASSETS 2,302,493 1,653,744

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 2,302,393 1,653,644
SHAREHOLDERS' FUNDS 2,302,493 1,653,744

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

LOLA PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 11637443)

BALANCE SHEET - continued
31 OCTOBER 2023


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 Profit and Loss Account and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2024 and were signed on its behalf by:





L Patterson - Director


LOLA PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 11637443)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Lola Property Investments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Other financial instruments are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit and loss immediately.

Any reversals of impairment are recognised in profit and loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.


LOLA PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 11637443)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account 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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Borrowings
Borrowing costs directly relating to the development of the property that take a substantial period of time to get ready for rental, are capitalised within investment property. Capitalisation of borrowing costs commences from the date of initial expenditure on a given development and continues until the properties are ready for rental.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 750
Additions 319
At 31 October 2023 1,069
DEPRECIATION
At 1 November 2022 207
Charge for year 253
At 31 October 2023 460
NET BOOK VALUE
At 31 October 2023 609
At 31 October 2022 543

LOLA PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 11637443)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 8,500,000
Additions 912,652
Revaluations 987,348
At 31 October 2023 10,400,000
NET BOOK VALUE
At 31 October 2023 10,400,000
At 31 October 2022 8,500,000

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2021 1,033,157
Valuation in 2022 1,228,423
Valuation in 2023 986,403
Cost 7,152,017
10,400,000

Investment property was valued on an open market basis on 31 October 2023 by the two directors.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 26,363 2,638
Value added tax - 57,911
Prepayments and accrued income - 3,599
26,363 64,148

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 5,005 226,419
Social security and other taxes 420 16,700
Value added tax 3,806 -
Related company 20,342 -
Directors' current accounts 970,850 364,711
Accrued expenses 43,797 269,185
1,044,220 877,015

LOLA PROPERTY INVESTMENTS LTD (REGISTERED NUMBER: 11637443)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Other loans - 1-2 years 5,500,000 5,015,987
Amounts owed to group undertakings 776,583 563,250
6,276,583 5,579,237

10. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Other loans 5,500,000 5,015,987

The other loans is secured over the company's assets.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
69 Ordinary A £1 75 75
25 Ordinary B £1 25 25
6 Ordinary C £1 - -
100 100

12. RELATED PARTY DISCLOSURES

The other creditor of £776,583 (2022- £563,250) is a shareholder loan which is unsecured and on an interest free basis.