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Company No: 11653299 (England and Wales)

# LVK LTD

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

LVK LTD

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

LVK LTD

## BALANCE SHEET

As at 31 March 2025
LVK LTD

## BALANCE SHEET (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investment property | 3 | 998,457 |  | 1,687,117
|  | 998,457 |  | 1,687,117
Current assets |  |  |  |
Debtors | 4 | 645,072 |  | 23,109
Cash at bank and in hand |  | 127,378 |  | 106,184
|  | 772,450 |  | 129,293
Creditors: amounts falling due within one year | 5 | ( 255,054) |  | ( 699,680)
Net current assets/(liabilities) |  | 517,396 |  | (570,387)
Total assets less current liabilities |  | 1,515,853 |  | 1,116,730
Creditors: amounts falling due after more than one year | 6 | ( 727,064) |  | ( 708,828)
Net assets |  | 788,789 |  | 407,902
Capital and reserves |  |  |  |
Called-up share capital | 7 | 125 |  | 125
Profit and loss account |  | 788,664 |  | 407,777
Total shareholders' funds |  | 788,789 |  | 407,902

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of LVK LTD (registered number: 11653299) were approved and authorised for issue by the Board of Directors on 16 October 2025. They were signed on its behalf by:

Mr M Joyce Director |

LVK LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
LVK LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

LVK LTD (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Sigma House Oak View Close, Edginswell Park, Torquay, TQ2 7FF, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

##### Taxation

Current tax
Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in the other comprehensive income.
The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operated and generates taxable income.

##### Investment property

Investment properties are valued at its original cost. The value is reviewed annually by the directors for any impairment.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 0 |  | 0

#### 3. Investment property

| Investment property
| £
Valuation |
As at 01 April 2024 | 1,687,117
Disposals | (688,660)
As at 31 March 2025 | 998,457

The investment properties are valued at its original cost, as in the opinion of the directors there has been no material change in its market value since that date.

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 10,006 |  | 13,022
Prepayments | 24,097 |  | 9,936
Other debtors | 610,969 |  | 151
| 645,072 |  | 23,109

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 7,927 |  | 28,361
Trade creditors | 1,403 |  | 0
Amounts owed to directors | 80,000 |  | 0
Accruals | 0 |  | 271
Corporation tax | 155,154 |  | 64,198
Other taxation and social security | 7,145 |  | 0
Other creditors | 3,425 |  | 606,850
| 255,054 |  | 699,680

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 727,064 |  | 708,828

Loan and borrowings includes bank loans totalling £734,991 (2024: £714,689) which are secured over the property in the company and a guarantee up to £400,000 from a Director.

#### 7. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary A shares of £ 1.00 each | 100 |  | 100
25 Ordinary B shares of £ 1.00 each | 25 |  | 25
| 125 |  | 125

#### 8. Related party transactions

Other related party transactions

Azure Property Development Limited
A company which one of the shareholders has a participating interest.
During the period to 31 March 2020, the company advanced £80,126 to Azure Property Development Limited. Repayments totalling £Nil were received during the same year (2024: £Nil). The balance outstanding at 31 March 2025 is £126 (2024: £126). No interest is being charged on this balance.