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Lewis Property Services (UK) Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 March 2025

Registration number: 08464769

 

Lewis Property Services (UK) Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

Lewis Property Services (UK) Limited

Balance Sheet

31 March 2025

Note

2025
£

2024
£

Tangible assets

4

5,670

7,256

Investment property

5

1,835,966

1,730,000

Other financial assets

6

435,685

480,255

 

2,277,321

2,217,511

Current assets

 

Debtors

7

638,718

224,370

Cash at bank and in hand

 

17,366

47,501

 

656,084

271,871

Creditors: Amounts falling due within one year

8

(695,700)

(575,287)

Net current liabilities

 

(39,616)

(303,416)

Total assets less current liabilities

 

2,237,705

1,914,095

Creditors: Amounts falling due after more than one year

8

(1,269,558)

(948,332)

Provisions for liabilities

(42,373)

(42,746)

Net assets

 

925,774

923,017

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

925,674

922,917

Shareholders' funds

 

925,774

923,017

 

Lewis Property Services (UK) Limited

Balance Sheet

31 March 2025

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 18 August 2025 and signed on its behalf by:
 

.........................................
T G Lewis
Director

   
     

Company Registration Number: 08464769

 

Lewis Property Services (UK) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
41 Commercial Road
Poole
Dorset
BH14 0HU

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

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 Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Lewis Property Services (UK) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position at cost or valuation, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehciles

25% reducing balance basis

Office equipment

20% reducing balance basis

Furniture and fittings

20% reducing balance basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Investments

Investments are measured at fair value.

 

Lewis Property Services (UK) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Loans and borrowings;
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2024 - 5).

 

Lewis Property Services (UK) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

11,607

5,000

16,607

At 31 March 2025

11,607

5,000

16,607

Depreciation

At 1 April 2024

7,046

2,305

9,351

Charge for the year

912

674

1,586

At 31 March 2025

7,958

2,979

10,937

Carrying amount

At 31 March 2025

3,649

2,021

5,670

At 31 March 2024

4,561

2,695

7,256

5

Investment properties

2025
£

At 1 April 2024 and 31 March 2025

1,730,000

Additions

105,966

At 31 March 2025

1,835,966

There has been no valuation of investment property by an independent valuer. The property has been valued by the directors.

 

Lewis Property Services (UK) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

6

Other financial assets (current and non-current)

Financial assets
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2024

480,255

480,255

Revaluations

(33,570)

(33,570)

FA investment - unlisted other shares disposals

(11,000)

(11,000)

At 31 March 2025

435,685

435,685

Carrying amount

At 31 March 2025

435,685

435,685

7

Debtors

2025
£

2024
£

Trade debtors

46,445

82,299

Prepayments

14,461

12,078

Other debtors

577,812

129,993

 

638,718

224,370

Less non-current portion

(387,204)

-

251,514

224,370

8

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

9

118,768

128,258

Trade creditors

 

62,214

69,405

Taxation and social security

 

144,353

123,877

Accruals and deferred income

 

73,369

99,149

Other creditors

 

296,996

154,598

 

695,700

575,287

 

Lewis Property Services (UK) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

1,269,558

948,332

Creditors include bank loans repayable by instalments of £683,584 (2024- £440,668) due after more than five years.

9

Loans and borrowings

Current loans and borrowings

2025
£

2024
£

Bank borrowings

88,768

128,258

Other borrowings

30,000

-

118,768

128,258

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

1,154,743

738,817

Other borrowings

114,815

209,515

1,269,558

948,332

The bank loans are secured over the the company's assets.

10

Reserves

Included with the profit and loss account is £183,435 - £228,378) of undistributable reserves.

 

Lewis Property Services (UK) Limited

Notes to the Unaudited Financial Statements

Year Ended 31 March 2025

11

Related party transactions

Transactions with directors

2025

At 1 April 2024
£

Advances to director
£

Repayments by director
£

At 31 March 2025
£

T G Lewis

Loan Account

18,667

73,000

(54,000)

37,667

         
       

A L Lewis

Loan Account

27,000

60,500

(52,500)

35,000

         
       

A P Warwick-Smith

Loan account

44,186

52,758

(45,000)

51,944

         
       

F M Garvey

Loan account

16,467

31,500

(20,000)

27,967

         
       

 

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

T G Lewis

Loan Account

30,976

37,641

(49,950)

18,667

         
       

A L Lewis

Loan Account

57,741

27,000

(57,741)

27,000

         
       

A P Warwick-Smith

Loan account

17,992

167,025

(140,831)

44,186

         
       

F M Garvey

Loan account

5,967

29,000

(18,500)

16,467

         
       

 

Summary of transactions with other related parties

Related LLPs and limited companies. Three of the directors of Lewis Property Services (UK) Limited are designated members of a number of LLPs and directors of a number of limited companies. At the balance sheet date the amounts due from the LLP's and limited companies was £26,165 (2024 - £21,800).

Summary of transactions with entities with joint control or significant interest

Lewis & Co (Investments & Pensions) Limited, Lewis Capital Management Limited, Lewis Pension Admin Limited, Ingenuity Financial Services Limited and Herstone Limited (directors and shareholders in common) At the balance sheet date the amount due from these related parties was £416,000 (2024 - £10,000) and owed to was £222,269 (2024 - £54,300).