Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312024-12-312024-01-01falseThe principal activity of the company is that of a holding company.43falsetruefalse 11473956 2024-01-01 2024-12-31 11473956 2023-01-01 2023-12-31 11473956 2024-12-31 11473956 2023-12-31 11473956 2023-01-01 11473956 c:Director1 2024-01-01 2024-12-31 11473956 d:PlantMachinery 2024-01-01 2024-12-31 11473956 d:FurnitureFittings 2024-01-01 2024-12-31 11473956 d:ShareCapital 2024-12-31 11473956 d:ShareCapital 2023-12-31 11473956 d:ShareCapital 2023-01-01 11473956 d:OtherMiscellaneousReserve 2024-01-01 2024-12-31 11473956 d:MergerReserve 2024-01-01 2024-12-31 11473956 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 11473956 d:RetainedEarningsAccumulatedLosses 2024-12-31 11473956 d:RetainedEarningsAccumulatedLosses 2023-12-31 11473956 d:RetainedEarningsAccumulatedLosses 2023-01-01 11473956 c:FRS102 2024-01-01 2024-12-31 11473956 c:Audited 2024-01-01 2024-12-31 11473956 c:FullAccounts 2024-01-01 2024-12-31 11473956 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 11473956 d:Subsidiary1 2024-01-01 2024-12-31 11473956 d:Subsidiary1 1 2024-01-01 2024-12-31 11473956 d:Subsidiary2 2024-01-01 2024-12-31 11473956 d:Subsidiary2 1 2024-01-01 2024-12-31 11473956 d:Subsidiary3 2024-01-01 2024-12-31 11473956 d:Subsidiary3 1 2024-01-01 2024-12-31 11473956 d:Subsidiary4 2024-01-01 2024-12-31 11473956 d:Subsidiary4 1 2024-01-01 2024-12-31 11473956 d:Subsidiary5 2024-01-01 2024-12-31 11473956 d:Subsidiary5 1 2024-01-01 2024-12-31 11473956 c:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 11473956 c:Consolidated 2024-12-31 11473956 c:ConsolidatedGroupCompanyAccounts 2024-01-01 2024-12-31 11473956 2 2024-01-01 2024-12-31 11473956 6 2024-01-01 2024-12-31 11473956 d:JointVenture1 2024-01-01 2024-12-31 11473956 d:JointVenture1 1 2024-01-01 2024-12-31 11473956 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 11473956










LATHAM LAND LIMITED AND ITS SUBSIDIARIES










DIRECTORS' REPORT AND CONSOLIDATED FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
LATHAM LAND LIMITED
REGISTERED NUMBER: 11473956

CONSOLIDATED BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
23,883
31,242

Investments
 6 
5,385
1,696

Investment property
 7 
15,415,000
16,430,000

  
15,444,268
16,462,938

Current assets
  

Debtors
  
138,989
126,529

Cash at bank and in hand
  
359,931
172,502

  
498,920
299,031

Creditors: amounts falling due within one year
 8 
(1,868,093)
(2,334,119)

Net current liabilities
  
 
 
(1,369,173)
 
 
(2,035,088)

Provisions for liabilities
  

Deferred taxation
 9 
(427,981)
(453,715)

  
 
 
(427,981)
 
 
(453,715)

Net assets
  
13,647,114
13,974,135


Capital and reserves
  

Called up share capital 
  
105
105

Other reserves
 10 
4,172,882
4,008,497

Merger reserve
 10 
51
51

Profit and loss account
 10 
9,474,076
9,965,482

  
13,647,114
13,974,135


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 consolidated 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 on 31 July 2025.

T W Brown FCCA CTA FCG FAIA
Director

The notes on pages 5 to 14 form part of these financial statements.
Page 1

 
LATHAM LAND LIMITED
REGISTERED NUMBER: 11473956

COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Investments
 6 
20
20

  
20
20

Current assets
  

Debtors
  
612,485
46

Cash at bank and in hand
  
39
39

  
612,524
85

Total assets less current liabilities
  
 
 
612,544
 
 
105

  

  

Net assets
  
612,544
105


Capital and reserves
  

Called up share capital 
  
105
105

Profit and loss account
 10 
612,439
-

  
612,544
105


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 consolidated 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 on 31 July 2025.


T W Brown FCCA CTA FCG FAIA
Director

The notes on pages 5 to 14 form part of these financial statements.

Page 2
 

 
LATHAM LAND LIMITED


 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024



Called up share capital
Other reserves
Merger reserve
Profit and loss account
Total equity


£
£
£
£
£



At 1 January 2023
105
4,138,656
51
9,731,279
13,870,091



Comprehensive income for the year


Profit for the year
-
-
-
104,044
104,044


Fair value movement on investment property
-
(92,235)
-
92,235
-


Deferred tax on fair value movement
-
(37,924)
-
37,924
-





At 1 January 2024
105
4,008,497
51
9,965,482
13,974,135





Loss for the year
-
-
-
(327,021)
(327,021)


Transfer net realised gain and associated deferred tax
to profit and loss account
-
(337,078)
-
337,078
-


Fair Value movement on investment property
-
592,576
-
(592,576)
-


Deferred tax on fair value movement
-
(91,113)
-
91,113
-



At 31 December 2024
105
4,172,882
51
9,474,076
13,647,114



The notes on pages 5 to 14 form part of these financial statements.

Page 3
 
LATHAM LAND LIMITED
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2023
105
-
105



At 1 January 2024
105
-
105



Profit for the year
-
612,439
612,439


At 31 December 2024
105
612,439
612,544


The notes on pages 5 to 14 form part of these financial statements.

Page 4

 
LATHAM LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

The company is a private company limited by shares, incorporated in England and Wales. The  address of the registered office is 14th Floor, 33 Cavendish Square, London, W1G 0PW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The consolidated financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Group and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Group will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 5

 
LATHAM LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
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 Group operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate entity. Once the contributions have been paid the Group 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 Group in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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 and the Group operate and generate income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
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
Page 6

 
LATHAM LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

operating in the manner intended by management.

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:

Plant and machinery
-
20%
Fixtures and fittings
-
33%

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

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

Associates and joint ventures

An entity is treated as a joint venture where the Group is a party to a contractual agreement with one or more parties from outside the Group to undertake an economic activity that is subject to joint control.

An entity is treated as an associated undertaking where the Group exercises significant influence in that it has the power to participate in the operating and financial policy decisions.
In the consolidated accounts, interests in associated undertakings are accounted for using the equity method of accounting. Under this method an equity investment is initially recognised at the transaction price (including transaction costs) and is subsequently adjusted to reflect the investors share of the profit or loss, other comprehensive income and equity of the associate. The Consolidated statement of comprehensive income includes the Group's share of the operating results, interest, pre-tax results and attributable taxation of such undertakings applying accounting policies consistent with those of the Group. 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.
Any premium on acquisition is dealt with in accordance with the goodwill policy.

Page 7

 
LATHAM LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.16

Financial instruments

The Group has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Group's Balance sheet when the Group becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Group's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.
 
Page 8

 
LATHAM LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.16
Financial instruments (continued)


Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Group after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans, other loans and loans due to fellow group companies are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Group transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Group will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Group's contractual obligations expire or are discharged or cancelled.

  
2.17

Tenant deposits

The company holds tenant deposits in designated bank accounts. The monies held in these bank
accounts and the balances due to tenants are netted off and excluded from these financial
statements. The total amounts of tenant deposits held by the company as at 31 December 2024
was £139,389 (2023 - £145,089).


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 3).

Page 9

 
LATHAM LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Parent company profit for the year

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements. The profit after tax of the parent Company for the year was £612,439 (2023 - £NIL).


5.


Tangible fixed assets

Group






Plant and machinery
Fixtures and fittings
Total

£
£
£



Cost 


At 1 January 2024
47,675
21,060
68,735


Additions
-
774
774



At 31 December 2024

47,675
21,834
69,509



Depreciation


At 1 January 2024
18,706
18,787
37,493


Charge for the year on owned assets
6,092
2,041
8,133



At 31 December 2024

24,798
20,828
45,626



Net book value



At 31 December 2024
22,877
1,006
23,883



At 31 December 2023
28,969
2,273
31,242

Page 10

 
LATHAM LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Fixed asset investments

Group





Investment in joint ventures

£



Cost 


At 1 January 2024
1,696


Share of profit/(loss)
3,689



At 31 December 2024
5,385




Company





Investments in subsidiary companies

£



Cost 


At 1 January 2024
20



At 31 December 2024
20





Subsidiary undertakings


The following were subsidiary undertakings of the Company:

Name

Class of shares

Holding

Kingston Industrial Estate Limited
Ordinary
100%
The Savoy Latham Partnership Limited
Ordinary
100%
Latham Management Limited (i)
Ordinary
100%
Latham Property Trust Limited (i)
Ordinary
100%
Mill Court Property Services Limited (ii)
Ordinary
100%

(i) Shares held via Kingston Industrial Estate Limited
(ii) Shares held via The Savoy Latham Partnership Limited
The registered office of all subsidiaries is the same as the parent company.
All subsidiaries have been included in the consolidation.

Page 11

 
LATHAM LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

Joint venture


The following was a joint venture of the Company:


Name

Registered office

Holding

Medmerry Park Limited *
  2nd Floor 168 Shoreditch High Street, London, United Kingdom, E1 6RA
50%

The accounting reference date for the above company is 31 December.
*Shares held via Latham Management Limited


7.


Investment property

Group


Freehold investment property

£



Valuation


At 1 January 2024
16,430,000


Disposals
(491,426)


Surplus on revaluation
(523,574)



At 31 December 2024
15,415,000

The 2024 valuations were made by the directors and Savills, on an open market value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
11,930,287
11,967,788



Page 12

 
LATHAM LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

8.


Creditors: Amounts falling due within one year

Group
Group
2024
2023
£
£

Bank facility
1,511,433
2,011,355

Trade creditors
66,312
23,754

Corporation tax
68,031
76,074

Other taxation and social security
14,322
14,912

Other creditors
36,944
28,703

Accruals and deferred income
171,051
179,321

1,868,093
2,334,119



9.


Deferred taxation


Group



2024
2023


£

£






At beginning of year
453,715
415,791


Charged to profit or loss
(25,734)
37,924



At end of year
427,981
453,715






The provision for deferred taxation is made up as follows:

Group
Group
2024
2023
£
£

Fair value adjustments in investment property
427,981
453,715

Page 13

 
LATHAM LAND LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Reserves

Other reserves

This comprises the accumulated movements in the fair value of Investment property and the associated
deferred tax provision.

Merger Reserve

This was established upon the creation of the group by share for share exchange and comprises the difference between the nominal value of shares issued and shares received.

Profit and loss account

This comprises accumulated profits available for distribution.


11.


Auditors' information

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

The audit report was signed on 31 July 2025 by David Pumfrey FCA (Senior statutory auditor) on behalf of Sumer Auditco Limited.

 
Page 14