Company registration number 09761110 (England and Wales)
LOWE HOMES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
LOWE HOMES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
LOWE HOMES LTD
BALANCE SHEET
AS AT
29 SEPTEMBER 2024
29 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
80,775
112,620
Investment property
4
5,080,883
4,670,000
5,161,658
4,782,620
Current assets
Debtors
5
7,617
17,161
Cash at bank and in hand
1,318,901
1,100,236
1,326,518
1,117,397
Creditors: amounts falling due within one year
6
(564,039)
(36,798)
Net current assets
762,479
1,080,599
Total assets less current liabilities
5,924,137
5,863,219
Provisions for liabilities
(214,790)
(220,420)
Net assets
5,709,347
5,642,799
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
5,709,247
5,642,699
Total equity
5,709,347
5,642,799
LOWE HOMES LTD
BALANCE SHEET (CONTINUED)
AS AT
29 SEPTEMBER 2024
29 September 2024
- 2 -

For the financial year ended 29 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 director acknowledges her 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 director of the company has 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 19 June 2025 and are signed on its behalf by:
Mrs K E Lowe
Director
Company registration number 09761110 (England and Wales)
LOWE HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Lowe Homes Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Unit F, Whiteacres, Cambridge Road, Whetstone, Leicestershire, LE8 6ZG.

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 are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received in respect of rental income arising in the normal course of business.

1.3
Tangible fixed assets
Fixtures and fittings
25% on cost
Motor vehicles
25% on cost
1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Impairment of fixed assets

At each balance sheet date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

1.6
Taxation

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

LOWE HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. 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 balance sheet date.

Deferred tax

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous tax periods. Deferred tax is recognised in respect of all timing differences with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expenses in tax periods different from those in which they are recognised in the financial statements. The company's liability for deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

2
Employees

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

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 30 September 2023 and 29 September 2024
158,174
Depreciation and impairment
At 30 September 2023
45,554
Depreciation charged in the year
31,845
At 29 September 2024
77,399
Carrying amount
At 29 September 2024
80,775
At 29 September 2023
112,620
LOWE HOMES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 SEPTEMBER 2024
- 5 -
4
Investment property
2024
£
Fair value
At 30 September 2023
4,670,000
Additions
410,883
At 29 September 2024
5,080,883

Investment property has been measured at fair value as estimated by the directors.

5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
7,617
17,161
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
327
Taxation and social security
30,337
17,194
Other creditors
533,702
19,277
564,039
36,798
7
Related party transactions

Included within other creditors is an amount of £517,865 (2023 - £nil) in respect of a loan from a company under the control of the director. The loan is interest free and repayable on demand.

8
Loan Waiver

During the prior year a loan with a related party was waived. The amount of the loan at the date of the waiver stood at £4,648,847.

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