REGISTERED NUMBER: 07128548 (England and Wales)

Audited Financial Statements for the Year Ended 31 January 2025

for

Letchworth Housing Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

K W Middleton

C D Tabor

J R Wiblin

SECRETARY:

C D Tabor

REGISTERED OFFICE:

Unit 1B, Focus Four

Fourth Avenue

Letchworth Garden City

Hertfordshire

SG6 2TU

REGISTERED NUMBER:

07128548 (England and Wales)

AUDITORS:

George Hay Partnership LLP

Chartered Accountants

Statutory Auditor

Brigham House

High Street

Biggleswade

Bedfordshire

SG18 0LD

FIXED ASSETS

Investments

6

10,407,434

9,795,391

Investment property

7

810,000

780,000

11,217,434

10,575,391

CURRENT ASSETS

Debtors

8

9,774

4,622

Cash at bank

30,334

19,795

40,108

24,417

CREDITORS

Amounts falling due within one year

9

54,139

95,762

NET CURRENT LIABILITIES

(14,031

)

(71,345

)

TOTAL ASSETS LESS CURRENT LIABILITIES

11,203,403

10,504,046

PROVISIONS FOR LIABILITIES

10

932,392

657,745

NET ASSETS

10,271,011

9,846,301

CAPITAL AND RESERVES

Called up share capital

18,500

18,500

Distributable reserves

11

9,657,357

9,255,147

Non distributable reserves

11

595,154

572,654

SHAREHOLDERS' FUNDS

10,271,011

9,846,301

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 July 2025 and were signed on its behalf by:

K W Middleton - Director

1.	STATUTORY INFORMATION

Letchworth Housing Investments 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 Company Information page.

2.	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 the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents rents and dividends receivable pertaining to the year. Rent is recognised when it is due and is accrued where necessary. Dividends are recognised on the date the income is receivable by the company.

Investment property

Investment properties are stated at fair value based on the valuation performed by a professional valuer from Satchells Estate Agents. The valuer used observable market prices adjusted as necessary for any difference in the future, location or condition of the specific asset.

Although this policy is in accordance with the FRS 102, it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 that have been enacted or substantively enacted by the balance sheet date.

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.

Investments

Fixed asset investments comprise of investments in equity instruments which are measured at fair value. Changes in fair value are recognised in the income statement. Fair value is based on market values provided by James Hambro & Partners LLP the Company's Investment Advisers.

Creditors

Short term trade creditors are measured at the transaction price.

Debtors

Short term debtors are measured at transaction price less impairment losses for bad and doubtful

debts.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

5.	AUDITORS' REMUNERATION

2025

2024

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

5,545

5,340

6.	FIXED ASSET INVESTMENTS

Listed

Unlisted

investments

investments

Totals

£

£

£

COST OR VALUATION

At 1 February 2024

9,792,891

2,500

9,795,391

Additions

3,518,344

-

3,518,344

Disposals

(4,177,422

)

-

(4,177,422

)

Revaluations

1,271,121

-

1,271,121

At 31 January 2025

10,404,934

2,500

10,407,434

NET BOOK VALUE

At 31 January 2025

10,404,934

2,500

10,407,434

At 31 January 2024

9,792,891

2,500

9,795,391

Cost or valuation at 31 January 2025 is represented by:

Listed

Unlisted

investments

investments

Totals

£

£

£

Valuation in 2025

3,180,850

-

3,180,850

Cost

7,224,084

2,500

7,226,584

10,404,934

2,500

10,407,434

Listed Investments

If listed investment had not been revalued they would have been included at the following historical cost £7,224,084 (2024: £7,675,245).

Listed investments were valued based on published share prices as at the reporting date by James Hambro & Partners LLP the Company's Investment Advisers.

Unlisted Investments

The company holds one share in Sollershott Hall Management Limited. This is shown as cost, which is not deemed to be materially different from its fair value.

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2024

780,000

Revaluations

30,000

At 31 January 2025

810,000

NET BOOK VALUE

At 31 January 2025

810,000

At 31 January 2024

780,000

Fair value at 31 January 2025 is represented by:

£

Valuation in 0

551,257

Valuation in 2016

255,750

Valuation in 2017

74,500

Valuation in 2018

28,500

Valuation in 2019

10,000

Valuation in 2020

15,000

Valuation in 2022

51,000

Valuation in 2023

119,000

Valuation in 2024

(325,007

)

Valuation in 2025

30,000

810,000

If investment properties had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

72,929

72,929

Investment properties were valued on an open market basis on 31 January 2024 by Satchells Estate Agents .

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Sundry Debtors and Prepayments

2,649

4,622

Tax

7,125

-

9,774

4,622

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Tax

-

44,020

Sundry Creditors and Accruals

50,629

48,710

Taxation & Social Security

3,510

3,032

54,139

95,762

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

932,392

657,745

Deferred

tax

£

Balance at 1 February 2024

657,745

Provided during year

274,647

Balance at 31 January 2025

932,392

The deferred tax liabilities relate to amounts payable in future periods based on the carrying amount of assets in the financial statements and the corresponding indexed cost used in the computation of taxable profits.

Assets (listed shares and funds, as well as property) are expected to increase in value after purchase. When the gain is realised, tax will be due on the increase, compared to the cost or indexed cost if acquired pre December 2017. The deferred tax liabilities shown are what will be due on capital gains when they are sold in the future.

The deferred tax liability is calculated at the rates at which is it expected to unwind, which from the 1 April 2023 is 25%.

11.

RESERVES

Non

Retained

Distributable

distributable

earnings

reserves

reserves

Totals

£

£

£

£

At 1 February 2024

-

9,255,147

572,654

9,827,801

Profit for the year

1,105,510

1,105,510

Dividends

(680,800

)

(680,800

)

Movement during the year

(424,710

)

402,210

22,500

-

At 31 January 2025

-

9,657,357

595,154

10,252,511

Called-up share capital - represents the nominal value of shares that have been issued.

Non-distributable reserves - represents the balance of fair value adjustments relating to the investment property, including revaluation reserves, which do not make up distributable reserves.

Distributable reserves - represents a fully distributable capital reserve which is built up of income from dividends, rental receipts and profits from the sale of investments by the Company, in excess of funds already distributed.

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Richard Dilley FCA FCCA (Senior Statutory Auditor)

for and on behalf of George Hay Partnership LLP

13.	RELATED PARTY DISCLOSURES

John Wiblin is also a designated member of Longmores Solicitors LLP, which received fees in respect of director's services amounting to £17,084 (2024 £16,368) and legal services of 1,812 (2024 £1,659). The total amount included in accruals for Longmores Solicitors LLP at 31 January 2025 amounted to £8,541 (2024 £8,191).