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Registered number: 09630533









LCP SERVICES (UK) LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
LCP SERVICES (UK) LIMITED
REGISTERED NUMBER: 09630533

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
8,925
6,940

  
8,925
6,940

Current assets
  

Debtors: amounts falling due within one year
 5 
1,253,936
1,100,213

Cash at bank and in hand
 6 
1,551,290
1,592,419

  
2,805,226
2,692,632

Creditors: amounts falling due within one year
 7 
(511,749)
(719,039)

Net current assets
  
 
 
2,293,477
 
 
1,973,593

Total assets less current liabilities
  
2,302,402
1,980,533

  

Net assets
  
2,302,402
1,980,533


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
2,301,402
1,979,533

  
2,302,402
1,980,533


Page 1

 
LCP SERVICES (UK) LIMITED
REGISTERED NUMBER: 09630533
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

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

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
J Markby
Director

Date: 27 June 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
LCP SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

LCP Services (UK) Limited ("the Company") was incorporated on 9 June 2015 in England and Wales. The registered office is 30 Gresse Street, Fitzrovia, London, W1T 1QR. The principal activity is that of the development and management of building projects. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

Revenue

Turnover comprises of revenue recognised by the Company in respect of property, development and other asset management, exclusive of VAT.
Revenue is recognised upon completion of services provided on a quarterly or monthly basis. 

Page 3

 
LCP SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
LCP SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
50%
straight-line
Computer equipment
-
33%
straight-line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
14
12

Page 5

 
LCP SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 January 2024
177,268
23,855
201,123


Additions
2,381
5,161
7,542



At 31 December 2024

179,649
29,016
208,665



Depreciation


At 1 January 2024
177,268
16,915
194,183


Charge for the year on owned assets
511
5,046
5,557



At 31 December 2024

177,779
21,961
199,740



Net book value



At 31 December 2024
1,870
7,055
8,925



At 31 December 2023
-
6,940
6,940


5.


Debtors

2024
2023
£
£


Trade debtors
316,697
255,710

Amounts owed by group undertakings
30,735
428,806

Other debtors
101,741
270,493

Prepayments and accrued income
804,763
145,204

1,253,936
1,100,213


Page 6

 
LCP SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,551,290
1,592,419

1,551,290
1,592,419



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
3,349
6,316

Corporation tax
49,971
-

Other taxation and social security
264,001
771

Other creditors
176,283
303,921

Accruals and deferred income
18,145
373,918

Financial instruments
-
34,113

511,749
719,039


Page 7

 
LCP SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
1,551,290
1,592,419

Financial assets that are debt instruments measured at amortised cost
1,144,587
1,000,694

2,695,877
2,593,113


Financial liabilities


Derivative financial instruments measured at fair value through profit or loss held as part of a trading portfolio
-
(34,113)

Financial liabilities measured at amortised cost
505,163
684,970

505,163
650,857


Financial assets measured at fair value through profit or loss comprise of cash and cash eqivalents.


Derivative financial instruments measured at fair value through profit or loss held as part of a trading portfolio comprise of trade debtors, VAT repayable, the amounts owed by group undertakings and rent deposit.


Other financial liabilities measured at fair value through profit or loss comprise of foreign exchange contract.
Financial liabilities measured at amortised cost comprise of trade and other creditors, taxation and social security, amoounts owed to group undertakings


9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £60,915 (2023 - £30,681). Contributions totalling £3,140 (2023 - £2,641) were payable to the fund at the balance sheet date and are included in creditors.


10.


Controlling party

LCP Services (UK) Limited is wholly controlled by LCP Holdco Belgium BV, Limited, a company incorporated in Belgium.

Page 8

 
LCP SERVICES (UK) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

11.


Auditor's information

The auditor's report on the financial statements for the year ended 31 December 2024 was unqualified.

The audit report was signed on 27 June 2025 by Michael Jacoby FCA (Senior Statutory Auditor) on behalf of Hillier Hopkins LLP.

 
Page 9