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LOUSADA INVESTMENTS HOLDINGS LIMITED

REPORT OF THE DIRECTORS AND

UNAUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30TH SEPTEMBER 2024






LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024




Page

Company Information 1

Report of the Directors 2

Consolidated Profit and loss account 3

Consolidated Balance Sheet 4

Company Balance Sheet 6

Consolidated Statement of Changes in Equity 8

Company Statement of Changes in Equity 9

Notes to the Consolidated Financial Statements 10


LOUSADA INVESTMENTS HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTORS: S C Lousada
Mrs S J Lousada





SECRETARY: Mrs S A Hunt





REGISTERED OFFICE: The Estate Office
Oakley House
Oakley
Bedfordshire
MK43 7ST





REGISTERED NUMBER: 09221499 (England and Wales)





ACCOUNTANTS: HW Bedford Limited
Trading as Haines Watts
First Floor, Woburn Court
2 Railton Road
Woburn Rd Ind Est
Kempston
Bedfordshire
MK42 7PN

LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

The directors present their report with the financial statements of the company and the group for the year ended 30th September 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of property investment.

EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st October 2023 to the date of this report.

S C Lousada
Mrs S J Lousada

DONATIONS AND SPONSORSHIP
Donations made by the group total £42,955 for the year (2023 £27,617) and include:
2024 (£) 2023 (£)


Bedford Blues

30,000

24,130

Bedfordshire Tennis

2,040

-

Lawn Tennis Association

2,410

-

Extra Mile Challenge

1,500

1,980

There were no political donations made in the current or prior period.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S C Lousada - Director


19th June 2025

LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)

CONSOLIDATED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

2024 2023
Notes £    £    £   

TURNOVER
Group and share of joint ventures and
associates

2,592,745

3,908,236
Less:
Share of joint ventures' turnover (261,841 ) (1,084,463 )
Share of associates' turnover - (811,784 )
GROUP TURNOVER 2,330,904 2,011,989

Cost of sales 1,019,904 892,770
GROSS PROFIT 1,311,000 1,119,219

Administrative expenses (470,521 ) 702,314
1,781,521 416,905

Other operating income 1,401,943 1,671,203
OPERATING PROFIT 4 3,183,464 2,088,108

Income from interest in associated
undertakings

(88,611

)

26,601
Income from other participating interests 620,494 (110,853 )
Income from fixed asset investments 4,442 2,753
Interest receivable and similar income 2,008 2,975
538,333 (78,524 )
3,721,797 2,009,584
Amounts written off investments 435 2,341,241
3,721,362 (331,657 )

Interest payable and similar expenses 1,615,340 1,329,638
PROFIT/(LOSS) BEFORE TAXATION 2,106,022 (1,661,295 )

Tax on profit/(loss) 5 393,987 (40,588 )
PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

1,712,035

(1,620,707

)

Profit/(loss) attributable to:
Owners of the parent 1,650,664 (1,604,271 )
Non-controlling interests 61,371 (16,436 )
1,712,035 (1,620,707 )

LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)

CONSOLIDATED BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 8 35,548 54,426
Tangible assets 9 265,825 215,818
Investments 10
Interest in joint venture
Share of gross assets 5,000,818 14,598,462
Share of gross liabilities (1,262,490 ) (2,367,890 )
3,738,328 12,230,572
Interest in associate 388,030 26,641
Other investments 714,094 514,504
Investment property 11 30,598,198 25,984,198
35,740,023 39,026,159

CURRENT ASSETS
Stocks 1,491,414 1,491,414
Debtors 12 1,788,272 2,728,463
Cash at bank and in hand 308,746 3,895,471
3,588,432 8,115,348
CREDITORS
Amounts falling due within one year 13 1,559,391 5,765,004
NET CURRENT ASSETS 2,029,041 2,350,344
TOTAL ASSETS LESS CURRENT
LIABILITIES

37,769,064

41,376,503

CREDITORS
Amounts falling due after more than one
year

14

(18,331,716

)

(24,819,553

)

PROVISIONS FOR LIABILITIES (2,796,480 ) (2,488,118 )
NET ASSETS 16,640,868 14,068,832

LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)

CONSOLIDATED BALANCE SHEET - continued
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 16 1,000,000 1,000,000
Fair value reserve 17 5,525,497 6,899,303
Retained earnings 9,629,179 5,744,708
SHAREHOLDERS' FUNDS 16,154,676 13,644,011

NON-CONTROLLING INTERESTS 18 486,192 424,821
TOTAL EQUITY 16,640,868 14,068,832

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30th September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a) ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

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

The financial statements were approved by the Board of Directors and authorised for issue on 19th June 2025 and were signed on its behalf by:





S C Lousada - Director


LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)

COMPANY BALANCE SHEET
30TH SEPTEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 8 - -
Tangible assets 9 - -
Investments 10 1,016,667 1,016,667
Investment property 11 - -
1,016,667 1,016,667

CREDITORS
Amounts falling due within one year 13 744 744
NET CURRENT LIABILITIES (744 ) (744 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,015,923

1,015,923

CREDITORS
Amounts falling due after more than one
year

14

16,667

16,667
NET ASSETS 999,256 999,256

CAPITAL AND RESERVES
Called up share capital 16 1,000,000 1,000,000
Retained earnings (744 ) (744 )
SHAREHOLDERS' FUNDS 999,256 999,256

Company's profit for the financial year - -

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 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.

LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)

COMPANY BALANCE SHEET - continued
30TH SEPTEMBER 2024


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

The financial statements were approved by the Board of Directors and authorised for issue on 19th June 2025 and were signed on its behalf by:





S C Lousada - Director


LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Called up Fair
share Retained value
capital earnings reserve
£    £    £   
Balance at 1st October 2022 1,000,000 5,063,238 9,185,044

Changes in equity
Total comprehensive income - 681,470 (2,285,741 )
Balance at 30th September 2023 1,000,000 5,744,708 6,899,303

Changes in equity
Dividend in specie - 3,110,000 -
Total comprehensive income - 774,471 (1,373,806 )
Balance at 30th September 2024 1,000,000 9,629,179 5,525,497
Non-controlling Total
Total interests equity
£    £    £   
Balance at 1st October 2022 15,248,282 441,257 15,689,539

Changes in equity
Total comprehensive income (1,604,271 ) (16,436 ) (1,620,707 )
Balance at 30th September 2023 13,644,011 424,821 14,068,832

Changes in equity
Dividend in specie 3,110,000 - 3,110,000
Total comprehensive income (599,335 ) 61,371 (537,964 )
Balance at 30th September 2024 16,154,676 486,192 16,640,868

LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1st October 2022 1,000,000 (744 ) 999,256

Changes in equity
Balance at 30th September 2023 1,000,000 (744 ) 999,256

Changes in equity
Balance at 30th September 2024 1,000,000 (744 ) 999,256

LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

1. STATUTORY INFORMATION

Lousada Investments Holdings 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 General 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 are presented in sterling which is the functional currency of the company and rounded to the nearest £.

The significant accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

Going concern
The accounts have been prepared on the going concern basis of continued long term financial support from related companies.

Indications are that this financial support will continue for the foreseeable future.

Basis of consolidation
The group accounts consolidate the accounts of Lousada Investment Holdings Limited and its subsidiary undertakings drawn up to 30th September each year. The results of subsidiaries acquired or sold are consolidated for the periods from or to the date on which control passed. Acquisitions are accounted for under the acquisition method with goodwill, representing any excess of the fair value of the consolidation given over the fair value of the identifiable assets and liabilities acquired, being amortised over the expected useful life of five years.

In the group accounts, interests in associated and joint venture undertakings are accounted for using the equity method of accounting. The consolidated profit and loss account, includes the group's share of the operating results interests, pre-tax results and attributable taxation of such undertakings based on approved financial statements. In the consolidated balance sheet, the interests in associated undertakings are shown as the group's share of the identifiable net assets including any unamortised premium paid on acquisition.

Turnover
Turnover for the year represents the following, stated net of value added tax where applicable:

- rental income and service charges receivable
- management fees levied to group and associated companies
- dividend and interest income generated from investments and loans

Goodwill
Goodwill, being the amount paid in connection with acquisitions of businesses and subsidiaries, is amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Negative goodwill are being amortised evenly over their estimated useful life of five years.

LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - not provided
Plant and machinery - 25% on reducing balance, 20% on reducing balance and 15% on cost
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on cost

Investments in associates
Investments in associate undertakings are recognised at cost.

Investment property
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in profit or loss. No formal valuation has taken place during the year by a professional independent valuer. The current fair value is based on a recognised valuation model.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Profit and loss account, 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.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Land and property held for resale and development
These are valued at the lower of direct cost and net realisable value. Cost includes costs of acquisition and development including directly attributable fees and expenses. Net realisable value is based on estimated selling price less future costs expected to be incurred to completion and disposal.

LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Investments
Except as stated below, investments are shown at fair value.

In the group accounts, an investment in an associated undertaking is one in which the group has a long term investment of not less than 20% of the equity and voting share capital and over which it exercises a significant influence.

Investments are classified as joint ventures when the group holds an interest in an undertaking on a long term basis and which is controlled jointly by the reporting entity and one or more other ventures under a contractual arrangement.

The group's share of the profits, less losses of associated and joint venture undertakings, is included in the consolidated balance sheet under the equity method accounting. The latest available accounts for each of the associated undertakings is used for consolidation purposes, including those where accounting periods are not coterminous.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

The average number of employees by undertakings that were proportionately consolidated during the year was 6 (2023 - 6 ) .

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 55,296 53,812
Goodwill amortisation 19,409 19,409
Negative goodwill amortisation (531 ) (398 )

5. TAXATION

Analysis of the tax charge/(credit)
The tax charge/(credit) on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
Share of JV tax charge 85,625 38,056

Deferred tax 308,362 (78,644 )
Tax on profit/(loss) 393,987 (40,588 )

6. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Statement of Comprehensive Income of the parent company is not presented as part of these financial statements.


LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

7. ACQUISITIONS, DISPOSALS & GOODWILL

Acquisitions are accounted for under the acquisition method of accounting. Any goodwill arising is amortised over a period of five years.

There were no new subsidiary companies acquired in the period. .

8. INTANGIBLE FIXED ASSETS

Group
Negative
Goodwill goodwill Totals
£    £    £   
COST
At 1st October 2023
and 30th September 2024 1,453,464 (259,737 ) 1,193,727
AMORTISATION
At 1st October 2023 1,396,779 (257,478 ) 1,139,301
Amortisation for year 19,409 (531 ) 18,878
At 30th September 2024 1,416,188 (258,009 ) 1,158,179
NET BOOK VALUE
At 30th September 2024 37,276 (1,728 ) 35,548
At 30th September 2023 56,685 (2,259 ) 54,426

9. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1st October 2023 72,000 286,247 12,818 79,484 450,549
Additions 115,804 - - - 115,804
Disposals - (16,663 ) - - (16,663 )
At 30th September 2024 187,804 269,584 12,818 79,484 549,690
DEPRECIATION
At 1st October 2023 5,100 189,382 10,836 29,413 234,731
Charge for year 11,795 30,486 497 12,518 55,296
Eliminated on disposal - (6,162 ) - - (6,162 )
At 30th September 2024 16,895 213,706 11,333 41,931 283,865
NET BOOK VALUE
At 30th September 2024 170,909 55,878 1,485 37,553 265,825
At 30th September 2023 66,900 96,865 1,982 50,071 215,818

LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

10. FIXED ASSET INVESTMENTS

Group Company
2024 2023 2024 2023
£    £    £    £   
Shares in group undertakings - - 1,016,667 1,016,667
Participating interests 4,126,358 12,257,213 - -
Loans to undertakings in which the company
has a participating interest

624,075

441,075

-

-
Other investments not loans 90,019 73,429 - -
4,840,452 12,771,717 1,016,667 1,016,667

Additional information is as follows:

Group
Interest Interest
in joint in Other
venture associate investments Totals
£    £    £    £   
COST OR VALUATION
At 1st October 2023 12,230,572 26,641 73,429 12,330,642
Additions - 450,000 - 450,000
Disposals (2,041,652 ) - - (2,041,652 )
Share of profit/(loss) (4,200,592 ) (88,611 ) - (4,289,203 )
Revaluations (2,250,000 ) - 16,590 (2,233,410 )
At 30th September 2024 3,738,328 388,030 90,019 4,216,377
NET BOOK VALUE
At 30th September 2024 3,738,328 388,030 90,019 4,216,377
At 30th September 2023 12,230,572 26,641 73,429 12,330,642

LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

10. FIXED ASSET INVESTMENTS - continued

Group

Interest in joint venture

At 30th September 2024 the company held the following investments, all companies being registered in England and Wales:

Powys Properties Limited 50% of the ordinary share capital
Lousada (Developments) Limited 50% of the ordinary share capital
Rollers (UK) Limited 50% of the ordinary share capital

The figures used for consolidation are based on the financial accounts for the year ended 30th September 2024 except for the following, whose accounting periods are as detailed below:

Rollers UK Limited 31st July 2024
Lousada (Developments) Limited 31st December 2023
Powys Properties Limited 31st March 2024

Former joint venture entities Relta Limited, Relta Properties Limited and Relta Investment Holdings Limited all ceased activities in the period, with their reserves being distributed to the joint venture holders and application made for their striking off.

The joint venture undertakings are involved in the business of property development and investment.

The registered office of the joint venture undertakings is Estate Office, Oakley House, Oakley, Bedford, MK43 7ST except;

Rollers UK Limited - Thrift Farm, Buckingham Road, Whaddon, Milton Keynes, Bucks, MK17 0EQ
Powys Properties Limited - Bowling Green Lane, Knighton, Powys, LD7 1DR

Unlisted investments
Lousada Investments Limited holds small investments in Quintus Inc, Mida Ltd, IAF Group, Murray Johnson C Shares and Bedford Blues.

All of the above are treated as unlisted investments in both the company and the group balance sheets.


Interest in associate

At 30th September 2024 the company held the following associated company investment, registered in England and Wales:

IBC Products Limited 40% of the ordinary share capital

IBC Products Limited's principal activity is the manufacture and retail of bathroom fittings.

As their year end is not coterminous, the figures used for consolidation are based on the management accounts for the period ended 30th September 2024.


LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

10. FIXED ASSET INVESTMENTS - continued

Group

Cost or valuation at 30th September 2024 is represented by:

Interest Interest
in joint in Other
venture associate investments Totals
£    £    £    £   
Valuation in 2020 - - (27,104 ) (27,104 )
Valuation in 2021 - - 19,832 19,832
Valuation in 2022 - - (2,590 ) (2,590 )
Valuation in 2023 - - 1,203 1,203
Valuation in 2024 - - 16,590 16,590
Cost 3,738,328 388,030 82,088 4,208,446
3,738,328 388,030 90,019 4,216,377
Company
Shares in
group
undertakings
£   
COST
At 1st October 2023
and 30th September 2024 1,016,667
NET BOOK VALUE
At 30th September 2024 1,016,667
At 30th September 2023 1,016,667

Group
Loans to
associates
£   
At 1st October 2023 441,075
New in year 183,000
At 30th September 2024 624,075


LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

10. FIXED ASSET INVESTMENTS - continued


Particulars of subsidiary undertakings

Held directly by the parent company:
Lousada Investments Ltd 100% of the ordinary share capital

Held indirectly via Lousada Investments Ltd:
Kingsway Pension Trust Limited 50% of the ordinary share capital
Grand Union Twymill Limited 100% of the ordinary share capital
Grand Union Twymill Developments Ltd 100% of the ordinary share capital
Lousada Development Limited 100% of the ordinary share capital
LIL Homes London Limited 100% of the ordinary share capital
Red Group Limited (formally LRHC Limited) 100% of the ordinary share capital


All the above companies are registered in England and Wales and operate in the business of investment and development and have coterminous accounting dates.

The registered office of all the above named companies is Estate Office, Oakley House, Oakley, Bedford, MK43 7ST.

Kingsway Pension Trust Limited is considered to be a subsidiary due to the dominant influence exercised by Mr S C Lousada over the company.

There is also a 58.79% interest in Diamond Developments DOO, a company registered in Montenegro. This company's financial statements for the period ended 31st December 2023 are used in the consolidation.

11. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1st October 2023 25,984,198
Additions 3,228,647
Revaluations 1,584,939
Impairments (199,586 )
At 30th September 2024 30,598,198
NET BOOK VALUE
At 30th September 2024 30,598,198
At 30th September 2023 25,984,198

Fair value at 30th September 2024 is represented by:
£   
Valuation in 2020 2,076,639
Valuation in 2021 145,000
Valuation in 2022 2,163,452
Valuation in 2023 1,670,000
Valuation in 2024 1,385,353
Cost 23,157,754
30,598,198

LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

11. INVESTMENT PROPERTY - continued

Group

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 23,157,754 19,929,107

Investment properties were valued on a fair value basis on 30th September 2024 by S C Lousada, a director of the company .

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2024 2023
£    £   
Trade debtors 1,816,760 829,230
Doubtful debt provision (390,710 ) (390,710 )
Amounts owed by participating interests - 1,209
Amounts owed by joint ventures 197,797 930
Amounts owed by related companies 774 -
Other debtors 50,093 2,079,792
Directors' current accounts - 112,803
Prepayments and accrued income 113,558 95,209
1,788,272 2,728,463

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade creditors 120,522 67,743 - -
Amounts owed to group undertakings - - 744 744
Amounts owed to participating interests - 484 - -
Amounts owed to joint ventures - 4,019,264 - -
Amounts owed to related companies 483 553,133 - -
Corporation tax 18 18 - -
Social security and other taxes 3,505 3,129 - -
VAT 99,096 82,168 - -
Other creditors 303,977 295,826 - -
Other loans - 500,000 - -
Directors' current accounts 705,005 - - -
Accruals and deferred income 326,785 243,239 - -
1,559,391 5,765,004 744 744

LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Preference shares 16,667 16,667 16,667 16,667
Amounts owed to related companies 16,008,409 22,996,246 - -
Other creditors 1,806,640 1,806,640 - -
Other loans 500,000 - - -
18,331,716 24,819,553 16,667 16,667

15. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
£    £   
Other loans 500,000 500,000

The other loan is secured by a charge over one of the investment properties held by Lousada Investments Limited.

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000,000 Ordinary £1 1,000,000 1,000,000

17. RESERVES

Group
Fair
value
reserve
£   
At 1st October 2023 6,899,303
Surplus on revaluation (2,249,999 )
Transfer from revaluation 876,193

At 30th September 2024 5,525,497


LOUSADA INVESTMENTS HOLDINGS LIMITED (REGISTERED NUMBER: 09221499)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

18. NON-CONTROLLING INTERESTS

The following minority interest existed at the balance sheet date:
Minority % 2024 2023
held £ £

Kingsway Pension Trust Limited 50% 723,226 652,886
Lousada Investments (Hertfordshire) Limited 50% 1,760 3,527
Diamond Developments DOO 41.21% (238,794 ) (231,592 )

486,192 424,821

All of the above represent equity minority interests.

19. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30th September 2024 and 30th September 2023:

2024 2023
£    £   
S C Lousada
Balance outstanding at start of year 112,803 -
Amounts advanced - 112,803
Amounts repaid (112,803 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 112,803

The directors loan was repaid to the group on 23rd January 2024.

20. POST BALANCE SHEET EVENTS

On 15th November 2024 the group granted various charges over its investment property to the bankers of Lousada plc, a company controlled by common directors.