Lowethorpe Developments (Maidstone) Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 12245608 (England and Wales)

LOWETHORPE DEVELOPMENTS (MAIDSTONE) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 NOVEMBER 2023 TO 31 DECEMBER 2024

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

Mr. T. Mees

Mrs E.L. Mees

REGISTERED OFFICE:

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

REGISTERED NUMBER:

12245608 (England and Wales)

ACCOUNTANTS:

Folkes Worton LLP

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lowethorpe Developments (Maidstone) Ltd for the period ended 31 December 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity 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 Board of Directors of Lowethorpe Developments (Maidstone) Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lowethorpe Developments (Maidstone) Ltd and state those matters that we have agreed to state to the Board of Directors of Lowethorpe Developments (Maidstone) Ltd, as a body, 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 Lowethorpe Developments (Maidstone) Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lowethorpe Developments (Maidstone) 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 Lowethorpe Developments (Maidstone) Ltd. You consider that Lowethorpe Developments (Maidstone) Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Lowethorpe Developments (Maidstone) 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.

Folkes Worton LLP

15-17 Church Street

Stourbridge

West Midlands

DY8 1LU

29 September 2025

FIXED ASSETS

Tangible assets

4

163,563

134,455

Investments

5

150,015

-

Investment property

6

1,975,074

2,288,652

2,109,529

CURRENT ASSETS

Debtors

7

425,000

425,795

Cash at bank

17,046

49,222

442,046

475,017

CREDITORS

Amounts falling due within one year

8

2,123,881

2,001,339

NET CURRENT LIABILITIES

(1,681,835

)

(1,526,322

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

606,817

583,207

PROVISIONS FOR LIABILITIES

87,367

107,680

NET ASSETS

519,450

475,527

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

519,448

475,525

SHAREHOLDERS' FUNDS

519,450

475,527

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

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 29 September 2025 and were signed on its behalf by:

Mr. T. Mees - Director

1.	STATUTORY INFORMATION

Lowethorpe Developments (Maidstone) 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

15% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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 period 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 period 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

COST

At 1 November 2023

159,132

-

159,132

Additions

-

73,551

At 31 December 2024

159,132

73,551

232,683

DEPRECIATION

At 1 November 2023

24,677

-

24,677

Charge for period

20,171

24,272

44,443

At 31 December 2024

44,848

24,272

69,120

NET BOOK VALUE

At 31 December 2024

114,284

49,279

163,563

At 31 October 2023

134,455

-

134,455

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

73,551

At 31 December 2024

73,551

DEPRECIATION

Charge for period

24,272

At 31 December 2024

24,272

NET BOOK VALUE

At 31 December 2024

49,279

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

Additions

150,015

At 31 December 2024

150,015

NET BOOK VALUE

At 31 December 2024

150,015

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2023

and 31 December 2024

1,975,074

NET BOOK VALUE

At 31 December 2024

1,975,074

At 31 October 2023

1,975,074

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Other debtors

425,000

425,795

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Hire purchase contracts

44,481

-

Trade creditors

975

253

Tax

3,593

18,634

Social security and other taxes

243

-

VAT

354

-

Other creditors

1,578,977

1,523,108

Directors' loan accounts

453,438

417,614

Accruals

41,820

41,730

2,123,881

2,001,339