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REGISTERED NUMBER: 03042345 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

LOTHAY LIMITED

LOTHAY LIMITED (REGISTERED NUMBER: 03042345)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOTHAY LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTOR: L Reich





SECRETARY: L Reich





REGISTERED OFFICE: 49 Fellows Road
London
NW3 3DX





REGISTERED NUMBER: 03042345 (England and Wales)





ACCOUNTANT: Abigail Sayagh
Chartered Accountant
12 Beverley Gardens
London
NW11 9DG

LOTHAY LIMITED (REGISTERED NUMBER: 03042345)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 500,000 475,000

CURRENT ASSETS
Debtors 5 - 428
Cash at bank 449,987 451,424
449,987 451,852
CREDITORS
Amounts falling due within one year 6 4,777 4,337
NET CURRENT ASSETS 445,210 447,515
TOTAL ASSETS LESS CURRENT
LIABILITIES

945,210

922,515

PROVISIONS FOR LIABILITIES 75,373 63,593
NET ASSETS 869,837 858,922

CAPITAL AND RESERVES
Called up share capital 1,002 1,002
Share premium 7 333,659 333,659
Fair value reserve 7 297,378 284,158
Retained earnings 7 237,798 240,103
SHAREHOLDERS' FUNDS 869,837 858,922

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

LOTHAY LIMITED (REGISTERED NUMBER: 03042345)

Balance Sheet - continued
31 March 2024


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 director and authorised for issue on 25 December 2024 and were signed by:





L Reich - Director


LOTHAY LIMITED (REGISTERED NUMBER: 03042345)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Lothay 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 as modified by the revaluation of certain assets.

Turnover
Rent receivable, excluding VAT.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - NIL ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 475,000
Revaluations 25,000
At 31 March 2024 500,000
NET BOOK VALUE
At 31 March 2024 500,000
At 31 March 2023 475,000

LOTHAY LIMITED (REGISTERED NUMBER: 03042345)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2011 122,752
Valuation in 2017 225,000
Valuation in 2023 25,000
Cost 127,248
500,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors - 428

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 2,977 2,537
Other creditors 1,800 1,800
4,777 4,337

7. RESERVES
Fair
Retained Share value
earnings premium reserve Totals
£    £    £    £   

At 1 April 2023 240,103 333,659 284,158 857,920
Profit for the year 25,915 - - 25,915
Dividends (15,000 ) - - (15,000 )
Non distributable reserve gain (25,000 ) - 25,000 -
Deferred tax 11,780 - (11,780 ) -
At 31 March 2024 237,798 333,659 297,378 868,835

8. ULTIMATE CONTROLLING PARTY

The controlling party is M Epstein.