REGISTERED NUMBER: 07780877 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Lankaster Gardens Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

O Avara

REGISTERED OFFICE:

77 Colney Hatch Lane

Muswell Hill

London

N10 1LR

REGISTERED NUMBER:

07780877 (England and Wales)

FIXED ASSETS

Investment property

4

405,675

405,675

CURRENT ASSETS

Debtors

719,548

691,742

Cash at bank

-

97,175

719,548

788,917

CREDITORS

Amounts falling due within one year

147,287

221,978

NET CURRENT ASSETS

572,261

566,939

TOTAL ASSETS LESS CURRENT LIABILITIES

977,936

972,614

CREDITORS

Amounts falling due after more than one year

(183,079

)

(186,449

)

PROVISIONS FOR LIABILITIES

(50,107

)

(50,107

)

NET ASSETS

744,750

736,058

CAPITAL AND RESERVES

Called up share capital

100

100

Fair value reserve

6

195,889

195,889

Retained earnings

6

548,761

540,069

SHAREHOLDERS' FUNDS

744,750

736,058

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 29 September 2025 and were signed by:

O Avara - Director

1.	STATUTORY INFORMATION

Lankaster Gardens 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.

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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 tax

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 1 (2023 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

405,675

NET BOOK VALUE

At 31 December 2024

405,675

At 31 December 2023

405,675

Fair value at 31 December 2024 is represented by:

£

Valuation in 2014

144,861

Valuation in 2015

55,000

Valuation in 2016

45,000

Cost

160,814

405,675

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

31.12.24

31.12.23

£

£

Cost

160,814

160,814

Investment properties were valued on an open market basis on 31 December 2024 by the director .

5.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank overdraft

1,729

-

Bank loans

186,479

301,798

Other loans

11,250

-

199,458

301,798

The bank loan is secured by way of the legal charge over the leasehold property known as Unit 5, 1 Martha Street, London E1 2PX and a personal guarantee by the director.

6.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 January 2024

540,069

195,889

735,958

Profit for the year

8,692

8,692

At 31 December 2024

548,761

195,889

744,650

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31.12.24

31.12.23

£

£

O Avara

Balance outstanding at start of year

(23,410

)

(23,410

)

Amounts advanced

696

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(22,714

)

(23,410

)

8.	RELATED PARTY DISCLOSURES