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REGISTERED NUMBER: 15139841 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

15 SEPTEMBER 2023 TO 30 SEPTEMBER 2024

FOR

LYRA HOMES (ST ALBANS) LTD

LYRA HOMES (ST ALBANS) LTD (REGISTERED NUMBER: 15139841)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 15 SEPTEMBER 2023 TO 30 SEPTEMBER 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


LYRA HOMES (ST ALBANS) LTD

COMPANY INFORMATION
FOR THE PERIOD 15 SEPTEMBER 2023 TO 30 SEPTEMBER 2024







DIRECTOR: R Nehru





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 15139841 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

LYRA HOMES (ST ALBANS) LTD (REGISTERED NUMBER: 15139841)

STATEMENT OF FINANCIAL POSITION
30 SEPTEMBER 2024

Notes £    £   
FIXED ASSETS
Investments 4 100
Investment property 5 10,950,000
10,950,100

CURRENT ASSETS
Debtors 6 175,578
Cash at bank and in hand 40,728
216,306
CREDITORS
Amounts falling due within one year 7 7,918,523
NET CURRENT LIABILITIES (7,702,217 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,247,883

PROVISIONS FOR LIABILITIES 811,900
NET ASSETS 2,435,983

CAPITAL AND RESERVES
Called up share capital 300
Non-distributable reserves 2,459,580
Retained earnings (23,897 )
2,435,983

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 September 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.

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 19 May 2025 and were signed by:





R Nehru - Director


LYRA HOMES (ST ALBANS) LTD (REGISTERED NUMBER: 15139841)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 15 SEPTEMBER 2023 TO 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Lyra Homes (St Albans) 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.

The financial statements have been prepared on a going concern basis as the director is satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The directors consider that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the loss for the financial year would have been increased by the amount of depreciation.

Taxation
Taxation for the period 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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 period was NIL.

LYRA HOMES (ST ALBANS) LTD (REGISTERED NUMBER: 15139841)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 15 SEPTEMBER 2023 TO 30 SEPTEMBER 2024

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 100
At 30 September 2024 100
NET BOOK VALUE
At 30 September 2024 100

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 7,678,520
Revaluations 3,271,480
At 30 September 2024 10,950,000
NET BOOK VALUE
At 30 September 2024 10,950,000

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2024 3,271,480
Cost 7,678,520
10,950,000

Investment properties were valued on a fair value basis by BNP Paribas Real Estate on 30 August 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Amounts owed by group undertakings 29,450
Other debtors 146,128
175,578

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Bank loans and overdrafts 6,677,745
Trade creditors 138,028
Amounts owed to group undertakings 1,100,000
Other creditors 2,750
7,918,523

8. SECURED DEBTS

The following secured debts are included within creditors:

£   
Bank loans 6,677,745

The loan is secured by way of negative pledge, fixed and floating charges over the freehold property held by Lyra Homes (St Albans) Ltd.

LYRA HOMES (ST ALBANS) LTD (REGISTERED NUMBER: 15139841)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 15 SEPTEMBER 2023 TO 30 SEPTEMBER 2024

9. RELATED PARTY DISCLOSURES

Included within debtors, amounts falling due within one year, is an interest free amount of £29,450 due from Lyra Homes (St Albans) Rental Ltd, a company within the group.

Included within creditors, amounts falling due within one year, is an interest free amount of £550,000 due to ASMK Investment Holdings Limited, a company within the group.

Included within creditors, amounts falling due within one year, is an interest free amount of £550,000 due to WVM Holdings Ltd, a company within the group.