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REGISTERED NUMBER: 10442880 (England and Wales)















Report of the Director and

Unaudited Consolidated Financial Statements for the Year Ended 30 June 2024

for

Lita Homes Limited

Lita Homes Limited (Registered number: 10442880)






Contents of the Consolidated Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Report of the Director 2

Chartered Certified Accountants' Report 3

Consolidated Statement of Income and Retained
Earnings

4

Consolidated Balance Sheet 5

Company Balance Sheet 7

Notes to the Consolidated Financial Statements 9


Lita Homes Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: X Lita





REGISTERED OFFICE: Standard House
107 - 115 Eastmoor Street
London
SE7 8LX





REGISTERED NUMBER: 10442880 (England and Wales)





ACCOUNTANTS: Valuemaven Business Services (UK) LImited
Chartered Certified Accountants
7 Lita Mews
Romford
RM1 3FG

Lita Homes Limited (Registered number: 10442880)

Report of the Director
for the Year Ended 30 June 2024

The director presents his report with the financial statements of the company and the group for the year ended 30 June 2024.

DIRECTOR
X Lita held office during the whole of the period from 1 July 2023 to the date of this report.

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:





X Lita - Director


10 July 2025

Chartered Certified Accountants' Report to the Director
on the Unaudited Financial Statements of
Lita Homes Limited


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lita Homes Limited for the year ended 30 June 2024 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet and the related notes from the company's and the group's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the director of Lita Homes Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lita Homes Limited and state those matters that we have agreed to state to the director of Lita Homes Limited in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the group and the company's director for our work or for this report.

It is your duty to ensure that Lita Homes Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lita Homes Limited. You consider that Lita Homes Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lita Homes Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Valuemaven Business Services (UK) LImited
Chartered Certified Accountants
7 Lita Mews
Romford
RM1 3FG


Date: .............................................

Lita Homes Limited (Registered number: 10442880)

Consolidated Statement of Income and Retained Earnings
for the Year Ended 30 June 2024

30.6.24 30.6.23
£    £   

TURNOVER 20,238,575 6,498,497

Cost of sales 16,696,571 4,440,170
GROSS PROFIT 3,542,004 2,058,327

Administrative expenses (1,700,744 ) 600,295
OPERATING PROFIT 5,242,748 1,458,032


Interest payable and similar
expenses

1,976,098

781,887
PROFIT BEFORE TAXATION 3,266,650 676,145

Tax on profit 1,108,789 254,787
PROFIT FOR THE FINANCIAL YEAR 2,157,861 421,358

Retained earnings at beginning of
year

10,601,965

10,180,607

RETAINED EARNINGS FOR THE
GROUP AT END OF YEAR

12,759,826

10,601,965

Profit attributable to:
Owners of the parent 2,157,861 421,358

Lita Homes Limited (Registered number: 10442880)

Consolidated Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 8,247,896 9,178,583
Investments 6 900,000 900,000
Investment property 7 21,293,473 19,092,352
30,441,369 29,170,935

CURRENT ASSETS
Stocks 4,611,416 9,392,726
Debtors 8 2,194,633 2,076,212
Cash at bank and in hand 4,748,547 1,928,909
11,554,596 13,397,847
CREDITORS
Amounts falling due within one year 9 25,212,372 23,439,140
NET CURRENT LIABILITIES (13,657,776 ) (10,041,293 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,783,593

19,129,642

CREDITORS
Amounts falling due after more than
one year

10

-

(5,450,189

)

PROVISIONS FOR LIABILITIES (3,373,658 ) (2,427,388 )
NET ASSETS 13,409,935 11,252,065

Lita Homes Limited (Registered number: 10442880)

Consolidated Balance Sheet - continued
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 109 100
Revaluation reserve 12 650,000 650,000
Retained earnings 12,759,826 10,601,965
13,409,935 11,252,065

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

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

The director acknowledges his 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 director and authorised for issue on 10 July 2025 and were signed by:





X Lita - Director


Lita Homes Limited (Registered number: 10442880)

Company Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 - -
Investments 6 459 458
Investment property 7 - -
459 458

CURRENT ASSETS
Debtors 8 546,987 3,310,519
Cash at bank 2,929,990 14,957
3,476,977 3,325,476
CREDITORS
Amounts falling due within one year 9 251,341 403,999
NET CURRENT ASSETS 3,225,636 2,921,477
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,226,095

2,921,935

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,225,995 2,921,835
3,226,095 2,921,935

Company's profit for the financial
year

304,160

688,529

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

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

Lita Homes Limited (Registered number: 10442880)

Company Balance Sheet - continued
30 June 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 director and authorised for issue on 10 July 2025 and were signed by:





X Lita - Director


Lita Homes Limited (Registered number: 10442880)

Notes to the Consolidated Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Lita Homes 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

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.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
A financial asset or a a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Income and Retained Earnings, 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.


Lita Homes Limited (Registered number: 10442880)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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 - 1 ) .

The average number of employees by undertakings that were proportionately consolidated during the year was 1 (2023 - 1 ) .

4. INDIVIDUAL INCOME STATEMENT

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


5. TANGIBLE FIXED ASSETS

Group
Land and
buildings
£   
COST
At 1 July 2023 9,178,583
Additions 2,603,095
Disposals (3,533,782 )
At 30 June 2024 8,247,896
NET BOOK VALUE
At 30 June 2024 8,247,896
At 30 June 2023 9,178,583

Lita Homes Limited (Registered number: 10442880)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

6. FIXED ASSET INVESTMENTS

Group
Other
investment
£   
COST
At 1 July 2023
and 30 June 2024 900,000
NET BOOK VALUE
At 30 June 2024 900,000
At 30 June 2023 900,000
Company
Other
investment
£   
COST
At 1 July 2023 458
Additions 1
At 30 June 2024 459
NET BOOK VALUE
At 30 June 2024 459
At 30 June 2023 458


7. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 July 2023 19,092,352
Revaluations 2,201,121
At 30 June 2024 21,293,473
NET BOOK VALUE
At 30 June 2024 21,293,473
At 30 June 2023 19,092,352

Lita Homes Limited (Registered number: 10442880)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

7. INVESTMENT PROPERTY - continued

Group

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2021 12,116,891
Valuation in 2022 6,975,461
Valuation in 2024 2,201,121
21,293,473

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.6.24 30.6.23 30.6.24 30.6.23
£    £    £    £   
Trade debtors 181,973 78,375 - -
Amounts owed by group undertakings - - 546,987 3,043,869
Other debtors 2,012,660 1,997,837 - 266,650
2,194,633 2,076,212 546,987 3,310,519

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
30.6.24 30.6.23 30.6.24 30.6.23
£    £    £    £   
Bank loans and overdrafts 21,314,333 20,408,481 - -
Trade creditors 1,711,992 2,228,198 - -
Taxation and social security 293,930 316,526 - -
Other creditors 1,892,117 485,935 251,341 403,999
25,212,372 23,439,140 251,341 403,999

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

Group
30.6.24 30.6.23
£    £   
Bank loans - 5,450,189

Lita Homes Limited (Registered number: 10442880)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 30 June 2024

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

Amounts falling due in more than five years:

Group
30.6.24 30.6.23
£    £   
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst - 2,091,366

11. SECURED DEBTS

The following secured debts are included within creditors:

Group
30.6.24 30.6.23
£    £   
Bank loans 21,314,333 25,858,670

The bank loans are secured against the investment property of the company.

12. RESERVES

Group
Revaluatio
reserve
£   
At 1 July 2023
and 30 June 2024 650,000


13. ULTIMATE CONTROLLING PARTY

The controlling party is X Lita.

The ultimate controlling party is X Lita.