Company Registration No. 01075993 (England and Wales)
Lota Estates Limited
Unaudited accounts
for the year ended 31 December 2024
Lota Estates Limited
Unaudited accounts
Contents
Lota Estates Limited
Company Information
for the year ended 31 December 2024
Directors
Mr A Low
Mrs M Spitz
Mrs R Weiss
Company Number
01075993 (England and Wales)
Registered Office
21 Warwick Grove
London
E5 9HX
Lota Estates Limited
Statement of financial position
as at 31 December 2024
Investment property
10,131,975
10,131,975
Debtors
1,807,338
1,941,358
Cash at bank and in hand
934,561
934,379
Creditors: amounts falling due within one year
(165,234)
(137,797)
Net current assets
2,576,665
2,737,940
Total assets less current liabilities
12,708,640
12,869,915
Provisions for liabilities
Deferred tax
(1,657,421)
(1,657,421)
Net assets
11,051,219
11,212,494
Called up share capital
2
2
Profit and loss account
11,051,217
11,212,492
Shareholders' funds
11,051,219
11,212,494
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 29 October 2025 and were signed on its behalf by
Mr A Low
Director
Company Registration No. 01075993
Lota Estates Limited
Notes to the Accounts
for the year ended 31 December 2024
Lota Estates Limited is a private company, limited by shares, registered in England and Wales, registration number 01075993. The registered office is 21 Warwick Grove, London, E5 9HX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The turnover of the company comprises rent and other charges receivable in respect of its investment properties.
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantivelyenacted by the reporting date that are expected to apply to the reversal of the timing difference.
Investment properties are properties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost.
Subsequent to initial recognition -
i. Investment properties whose fair value can be measured reliably without undue cost or effort are held at fair value. Any gains or losses arising from changes in the fair value are recognised in the profit and loss account in the period that they arise; and
ii. No depreciation is provided in respect of investment properties applying the fair value model.
Freehold properties held for investment have been revalued by directors and are stated at valuation. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Lota Estates Limited
Notes to the Accounts
for the year ended 31 December 2024
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Fair value at 1 January 2024
10,131,975
At 31 December 2024
10,131,975
The historical cost of the investment properties is £1,905,483 (2023: £1,905,483).
Lota Estates Limited
Notes to the Accounts
for the year ended 31 December 2024
Amounts falling due within one year
Trade debtors
310,206
427,164
Amounts due from group undertakings etc.
1,485,819
1,503,799
Accrued income and prepayments
11,313
10,395
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
160,674
132,517
7
Transactions with related parties
Donations paid during the year were to the parent charity.
Included in Amounts owed by group undertakings, is £1,485,819 (2023: £1,503,799) due from its parent undertaking. This loan is interest free and repayable on demand.
The Company is a wholly owned subsidiary of The Melow Charitable Trust whose principal address is 21 Warwick Grove, London, E5 9HX.
9
Average number of employees
During the year the average number of employees was 1 (2023: 1).