Company registration number 00453038 (England and Wales)
Investment Properties (Luton) Limited
Unaudited Financial Statements
For the year ended 31 March 2025
PAGES FOR FILING WITH REGISTRAR
Investment Properties (Luton) Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
Investment Properties (Luton) Limited
Balance Sheet
As at 31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
35,918
3,876,195
Investment property
4
23,650,001
19,790,001
Investments
5
-
0
14,799
23,685,919
23,680,995
Current assets
Debtors
6
166,920
207,738
Investments
9
12,471
12,475
Cash at bank and in hand
976,877
894,118
1,156,268
1,114,331
Creditors: amounts falling due within one year
7
(380,503)
(457,018)
Net current assets
775,765
657,313
Total assets less current liabilities
24,461,684
24,338,308
Creditors: amounts falling due after more than one year
8
(270,958)
(274,775)
Provisions for liabilities
(2,216,292)
(2,210,985)
Net assets
21,974,434
21,852,548
Capital and reserves
Called up share capital
11
237,486
237,486
Share premium account
1,058,514
1,058,514
Profit and loss reserves
20,678,434
20,556,548
Total equity
21,974,434
21,852,548
Investment Properties (Luton) Limited
Balance Sheet (Continued)
As at 31 March 2025
- 2 -

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

T he members have not required the company to obtain an audit of its financial statements for the year in question 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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 1 November 2025 and are signed on its behalf by:
E J Simpson
A R Taylor
Director
Director
Company registration number 00453038 (England and Wales)
Investment Properties (Luton) Limited
Notes to the Financial Statements
For the year ended 31 March 2025
- 3 -
1
Accounting policies
Company information

Investment Properties (Luton) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor, 8-10 Upper Marlborough Road, St Albans, Hertfordshire, AL1 3UR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Turnover

Rental income is calculated to the quarter day preceding the balance sheet date. Where leases are subject to review, and any part of the increase is in dispute, the amount so disputed is not included until the matter is resolved.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% straight line
Computer Equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Investment properties

Investment properties are initially recorded at cost, which includes the purchase price and any directly attributable expenditure.

Investment properties are revalued to their fair value at each reporting date and any changes in fair value are recognised in profit and loss.

No depreciation is provided in respect of freehold investment properties. The directors consider that this accounting policy results in the accounts giving a true and fair view as the current value of investment properties, and changes in current value, are of prime importance rather than the calculation of systematic annual depreciation. The Company occupies part of one of the investment properties for its own business use. As the value of the part occupied is not significant and will be fully maintained with the remainder of the property this has not been separated from the investment properties and is not depreciated in accordance with normal accounting policies.

Investment Properties (Luton) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Fixed asset investments

All fixed asset investments are initially recorded at cost and are revalued to their fair value at each reporting date, any changes in fair value being recognised in profit and loss.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 and Section 12 of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present fair value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, which include trade and other payables and bank loans, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present fair value of the future receipts discounted at a market rate of interest.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.9
Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Investment Properties (Luton) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
1
Accounting policies
(Continued)
- 5 -
1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.12

Listed i nvestments

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
9
9
3
Tangible fixed assets
Assets under construction
Fixtures and fittings
Computer Equipment
Total
£
£
£
£
Cost
At 1 April 2024
3,860,001
49,619
24,970
3,934,590
Additions
425,600
5,000
26,273
456,873
Revaluation
(425,601)
-
0
-
0
(425,601)
Transfer to investment property
(3,860,000)
-
0
-
0
(3,860,000)
At 31 March 2025
-
0
54,619
51,243
105,862
Depreciation and impairment
At 1 April 2024
-
0
46,713
11,682
58,395
Depreciation charged in the year
-
0
1,707
9,842
11,549
At 31 March 2025
-
0
48,420
21,524
69,944
Carrying amount
At 31 March 2025
-
0
6,199
29,719
35,918
At 31 March 2024
3,860,001
2,906
13,288
3,876,195
Investment Properties (Luton) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
- 6 -
4
Investment property
2025
£
Fair value
At 1 April 2024
19,790,001
Transfers
3,860,000
At 31 March 2025
23,650,001

The investment properties were professionally revalued in March 202 4 by Aitchison Raffety, Property Consultants.

During the year ended 31 March 2023, three properties were demolished in preparation for redevelopment works. These renovation works reached practical completion in 2024 and the properties were brought into use in the current year, so the property has been transferred from Assets Under Construction into Investment Properties at its Aitchison Rafferty valuation.

The Company occupies part of one of the investment properties for its own business use. As the value of the part occupied is not significant and will be fully maintained with the remainder of the property this has not been separated from the investment properties and not depreciated in accordance with normal accounting policies.

5
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
-
0
1,896
Loans to group undertakings and participating interests
-
0
12,903
-
0
14,799
Movements in fixed asset investments
Shares in subsidiaries
Loans to subsidiaries
Total
£
£
£
Cost or valuation
At 1 April 2024
1,896
12,903
14,799
Loan repayment
-
(8,591)
(8,591)
Write down
(1,896)
(4,312)
(6,208)
At 31 March 2025
-
-
-
Carrying amount
At 31 March 2025
-
-
-
At 31 March 2024
1,896
12,903
14,799
Investment Properties (Luton) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
- 7 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
143,428
97,347
Other debtors
-
0
98,651
Prepayments and accrued income
23,492
11,740
166,920
207,738
7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
20,381
14,455
Corporation tax
60,785
125,902
Other taxation and social security
30,042
10,188
Other creditors
750
4,221
Accruals and deferred income
268,545
302,252
380,503
457,018
8
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Other borrowings
200,000
200,000
Other creditors
70,958
74,775
270,958
274,775

Other borrowings relates to a loan from a director which was drawn in April 2023 and has a maximum term of 5 years. Interest is payable annually at a rate of 3%.

9
Current asset investments
2025
2024
£
£
Equity investments
12,471
12,475
12,471
12,475
Investment Properties (Luton) Limited
Notes to the Financial Statements (Continued)
For the year ended 31 March 2025
- 8 -
10
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Included in provisions
2,216,292
2,210,985
2025
Movements in the year:
£
Liability at 1 April 2024
2,210,985
Impact of change in market value of investments
5,307
Liability at 31 March 2025
2,216,292
11
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
237,486
237,486
237,486
237,486
12
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
3,357
8,392
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