Company registration number 01163750 (England and Wales)
LOWE PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
LOWE PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
LOWE PROPERTIES LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,815,088
1,838,383
Current assets
Debtors
4
228,722
228,956
Cash at bank and in hand
77,729
148,330
306,451
377,286
Creditors: amounts falling due within one year
5
(156,234)
(165,754)
Net current assets
150,217
211,532
Total assets less current liabilities
1,965,305
2,049,915
Creditors: amounts falling due after more than one year
6
(819,167)
(869,167)
Provisions for liabilities
-
0
(44,549)
Net assets
1,146,138
1,136,199
Capital and reserves
Called up share capital
7
15,369
15,369
Profit and loss reserves
1,130,769
1,120,830
Total equity
1,146,138
1,136,199
LOWE PROPERTIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 11 April 2025 and are signed on its behalf by:
Mr M C W Lowe
Director
Company registration number 01163750 (England and Wales)
LOWE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Lowe Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 88 Hill Village Road, Four Oaks, Sutton Coldfield, West Midlands, England, B75 5BE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

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

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Not depreciable
Leasehold land and buildings
25% reducing balance
Fixtures and fittings
15% reducing balance
Motor vehicles
25% reducing balance
1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

LOWE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
3
Tangible fixed assets
Freehold land and buildings
Leasehold land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 October 2023
1,745,207
208,832
32,073
144,641
2,130,753
Additions
-
0
-
0
523
-
0
523
Disposals
-
0
-
0
-
0
(16,287)
(16,287)
At 30 September 2024
1,745,207
208,832
32,596
128,354
2,114,989
Depreciation and impairment
At 1 October 2023
-
0
186,913
24,526
80,931
292,370
Depreciation charged in the year
-
0
6,122
1,210
15,834
23,166
Eliminated in respect of disposals
-
0
-
0
-
0
(15,635)
(15,635)
At 30 September 2024
-
0
193,035
25,736
81,130
299,901
Carrying amount
At 30 September 2024
1,745,207
15,797
6,860
47,224
1,815,088
At 30 September 2023
1,745,207
21,919
7,547
63,710
1,838,383
LOWE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
183,826
184,060
2024
2023
Amounts falling due after more than one year:
£
£
Other debtors
44,896
44,896
Total debtors
228,722
228,956
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
45,000
45,000
Corporation tax
20,804
20,950
Other taxation and social security
4,366
5,310
Other creditors
86,064
94,494
156,234
165,754
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
810,000
855,000
Other creditors
9,167
14,167
819,167
869,167

The long-term loans are secured by fixed and floating charges over all assets of the company.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
6,139
6,139
6,139
6,139
Ordinary A shares of £1 each
9,230
9,230
9,230
9,230
15,369
15,369
15,369
15,369
LOWE PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
8
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Martin Lowe
-
179,584
4,255
(5,249)
178,590
179,584
4,255
(5,249)
178,590
2024-09-302023-10-01falsefalsefalse11 April 2025CCH SoftwareCCH Accounts Production 2024.310No description of principal activityMr M C W LoweMs M A R Lowe011637502023-10-012024-09-30011637502024-09-30011637502023-09-3001163750core:LandBuildingscore:OwnedOrFreeholdAssets2024-09-3001163750core:LandBuildingscore:LeasedAssetsHeldAsLessee2024-09-3001163750core:FurnitureFittings2024-09-3001163750core:MotorVehicles2024-09-3001163750core:LandBuildingscore:OwnedOrFreeholdAssets2023-09-3001163750core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-09-3001163750core:FurnitureFittings2023-09-3001163750core:MotorVehicles2023-09-3001163750core:CurrentFinancialInstrumentscore:WithinOneYear2024-09-3001163750core:CurrentFinancialInstrumentscore:WithinOneYear2023-09-3001163750core:Non-currentFinancialInstrumentscore:AfterOneYear2024-09-3001163750core:Non-currentFinancialInstrumentscore:AfterOneYear2023-09-3001163750core:CurrentFinancialInstruments2024-09-3001163750core:CurrentFinancialInstruments2023-09-3001163750core:Non-currentFinancialInstruments2024-09-3001163750core:Non-currentFinancialInstruments2023-09-3001163750core:ShareCapital2024-09-3001163750core:ShareCapital2023-09-3001163750core:RetainedEarningsAccumulatedLosses2024-09-3001163750core:RetainedEarningsAccumulatedLosses2023-09-3001163750core:ShareCapitalOrdinaryShares2024-09-3001163750core:ShareCapitalOrdinaryShares2023-09-3001163750bus:Director12023-10-012024-09-3001163750core:LandBuildingscore:OwnedOrFreeholdAssets2023-10-012024-09-3001163750core:LandBuildingscore:LongLeaseholdAssets2023-10-012024-09-3001163750core:FurnitureFittings2023-10-012024-09-3001163750core:MotorVehicles2023-10-012024-09-30011637502022-10-012023-09-3001163750core:LandBuildingscore:OwnedOrFreeholdAssets2023-09-3001163750core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-09-3001163750core:FurnitureFittings2023-09-3001163750core:MotorVehicles2023-09-30011637502023-09-3001163750core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-10-012024-09-3001163750core:WithinOneYear2024-09-3001163750core:WithinOneYear2023-09-3001163750core:AfterOneYear2024-09-3001163750core:AfterOneYear2023-09-3001163750bus:PrivateLimitedCompanyLtd2023-10-012024-09-3001163750bus:SmallCompaniesRegimeForAccounts2023-10-012024-09-3001163750bus:FRS1022023-10-012024-09-3001163750bus:AuditExemptWithAccountantsReport2023-10-012024-09-3001163750bus:Director22023-10-012024-09-3001163750bus:FullAccounts2023-10-012024-09-30xbrli:purexbrli:sharesiso4217:GBP