| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 30th November 2024 |
| for |
| Lower East Ltd. |
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 30th November 2024 |
| for |
| Lower East Ltd. |
| Lower East Ltd. (Registered number: 03465098) |
| Contents of the Financial Statements |
| for the Year Ended 30th November 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Lower East Ltd. |
| Company Information |
| for the Year Ended 30th November 2024 |
| DIRECTOR: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 34 - 35 Clarges Street |
| Mayfair |
| London |
| W1J 7EJ |
| Lower East Ltd. (Registered number: 03465098) |
| Balance Sheet |
| 30th November 2024 |
| 30/11/24 | 30/11/23 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 8 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| The financial statements were approved by the director and authorised for issue on |
| Lower East Ltd. (Registered number: 03465098) |
| Notes to the Financial Statements |
| for the Year Ended 30th November 2024 |
| 1. | STATUTORY INFORMATION |
| Lower East Ltd. is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts. |
| Revenue is recognised when goods are dispatched. |
| Tangible fixed assets and depreciation |
| Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: |
| Fixtures and Fittings - 10% straight line |
| Office Equipment - 20% straight line |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the 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. |
| Deferred taxation |
| 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 |
| Lower East Ltd. (Registered number: 03465098) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th November 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and | Computer |
| property | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1st December 2023 |
| and 30th November 2024 |
| DEPRECIATION |
| At 1st December 2023 |
| and 30th November 2024 |
| NET BOOK VALUE |
| At 30th November 2024 |
| At 30th November 2023 |
| 5. | FIXED ASSET INVESTMENTS |
| 30/11/24 | 30/11/23 |
| £ | £ |
| Other investments not loans | 1,962,989 | 1,720,566 |
| Additional information is as follows: |
| Other |
| investments |
| £ |
| COST OR VALUATION |
| At 1st December 2023 |
| Additions |
| Disposals | ( |
) |
| At 30th November 2024 |
| NET BOOK VALUE |
| At 30th November 2024 |
| At 30th November 2023 |
| Cost or valuation at 30th November 2024 is represented by: |
| Other |
| investments |
| £ |
| Valuation in 2015 | 1,406,483 |
| Valuation in 2016 | (16 | ) |
| Valuation in 2017 | 91,422 |
| Valuation in 2018 | 250,490 |
| Valuation in 2019 | 112,909 |
| Valuation in 2020 | 21,556 |
| Valuation in 2021 | 185,566 |
| Valuation in 2022 | (434,056 | ) |
| Valuation in 2023 | 37,669 |
| Valuation in 2024 | 242,423 |
| 1,914,446 |
| Lower East Ltd. (Registered number: 03465098) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30th November 2024 |
| 5. | FIXED ASSET INVESTMENTS - continued |
| If fixed asset investments had not been revalued they would have been included at the following historical cost: |
| 30/11/24 | 30/11/23 |
| £ | £ |
| Cost | 1,468,660 | 1,468,660 |
| Fixed assets investment were valued on an open market basis on 30th November 2024 by Arbuthnot Latham & Co . |
| Investments (neither listed nor unlisted) were as follows: |
| 30/11/24 | 30/11/23 |
| £ | £ |
| Other FA invests - cost b/f | 48,543 | 48,543 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30/11/24 | 30/11/23 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 30/11/24 | 30/11/23 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 8. | PROVISIONS FOR LIABILITIES |
| 30/11/24 | 30/11/23 |
| £ | £ |
| Deferred tax | 98,940 | - |
| Deferred |
| tax |
| £ |
| Provided during year |
| Balance at 30th November 2024 |
| 9. | RESERVES |
| Fair |
| value |
| reserve |
| £ |
| At 1st December 2023 |
| Revaluation in the year | 242,423 |
| At 30th November 2024 |