REGISTERED NUMBER: 11295717 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 31 March 2025

for

LIM Estates Ltd

Page

Company Information

1

Report of the Director

2

Chartered Accountants' Report

3

Income Statement

4

Statement of Financial Position

5

Notes to the Financial Statements

7

DIRECTOR:

D Barnes

REGISTERED OFFICE:

6 Brackenwood

Midhurst

GU29 0FB

REGISTERED NUMBER:

11295717 (England and Wales)

ACCOUNTANTS:

PB Partners LLP

Endeavour House

78 Stafford Road

Wallington

Surrey

SM6 9AY

The director presents his report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of property investment and rental.

DIRECTOR

D Barnes held office during the whole of the period from 1 April 2024 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

D Barnes - Director

8 September 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of LIM Estates Ltd for the year ended 31 March 2025 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of LIM Estates Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of LIM Estates Ltd and state those matters that we have agreed to state to the director of LIM Estates Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LIM Estates Ltd and its director for our work or for this report.

It is your duty to ensure that LIM Estates Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of LIM Estates Ltd. You consider that LIM Estates Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of LIM Estates Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

PB Partners LLP

Endeavour House

78 Stafford Road

Wallington

Surrey

SM6 9AY

8 September 2025

TURNOVER

169,916

131,871

Cost of sales

61,621

66,728

GROSS PROFIT

108,295

65,143

Administrative expenses

19,807

22,992

88,488

42,151

Other operating income

852

8,478

OPERATING PROFIT

89,340

50,629

Interest payable and similar expenses

4

30,650

31,989

PROFIT BEFORE TAXATION

58,690

18,640

Tax on profit

37,793

7,951

PROFIT FOR THE FINANCIAL YEAR

20,897

10,689

FIXED ASSETS

Tangible assets

5

1

1

Investment property

6

1,715,000

1,618,983

1,715,001

1,618,984

CURRENT ASSETS

Debtors

7

6,117

5,758

Cash at bank

64,649

15,222

70,766

20,980

CREDITORS

Amounts falling due within one year

8

735,678

730,904

NET CURRENT LIABILITIES

(664,912

)

(709,924

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,050,089

909,060

CREDITORS

Amounts falling due after more than one year

9

(768,381

)

(768,381

)

PROVISIONS FOR LIABILITIES

(40,972

)

(16,857

)

NET ASSETS

240,736

123,822

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

11

164,855

68,838

Retained earnings

75,781

54,884

240,736

123,822

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 8 September 2025 and were signed by:

D Barnes - Director

1.	STATUTORY INFORMATION

LIM Estates Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Revenue represents rents receivable, excluding value added tax. Rental income is recognised in the period to which it relates.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Computer Equipment -25% per annum on cost

Investment property

Investment property is included at fair value. Gains and losses are recognised in the income statement. Deferred tax is provided at the future tax rate expected to apply when the property may be sold.

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 have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 NIL (2024 - NIL).

4.

INTEREST PAYABLE AND SIMILAR EXPENSES

2025

2024

£

£

Mortgage

30,650

31,989

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2024

and 31 March 2025

2,335

DEPRECIATION

At 1 April 2024

and 31 March 2025

2,334

NET BOOK VALUE

At 31 March 2025

1

At 31 March 2024

1

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

1,618,983

Revaluations

96,017

At 31 March 2025

1,715,000

NET BOOK VALUE

At 31 March 2025

1,715,000

At 31 March 2024

1,618,983

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

1,715,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Prepayments

6,117

5,758

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Corporation tax

13,678

3,905

Directors' current accounts

720,000

725,000

Accruals and deferred income

2,000

1,999

735,678

730,904

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Other loans more 5yrs non-inst

768,381

768,381

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

768,381

768,381

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Other loans

768,381

768,381

The lending company has legal charges dated 14 September 2018 and 19 December 2018 over both properties at 39 Barton Road, Manchester and 499 Liverpool Road, Manchester in favour of Paragon Bank Plc; fixed charges dated 1 May 2020 over Apartments 1209 & 1309, Park Central in Liverpool in favour of OneSavings Bank Plc; fixed charges dated 29 November 2020 and 30 September 2022 over 39 Barton Road in Manchester in favour of Paragon Bank Plc; fixed charges dated 29 November 2020 and 30 September 2022 over 499 Liverpool Road in Manchester in favour of Paragon Bank Plc, as well as a legal charge dated 20 May 2021 over 5 Wheatley Place in Doncaster in favour of Paragon Bank Plc.

11.

RESERVES

Fair

value

reserve

£

At 1 April 2024

68,838

Revaluation during the year

96,017

At 31 March 2025

164,855

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Barnes.