Silverfin false false 28/02/2025 01/03/2024 28/02/2025 R J Cook O C Hall J Katz 11 November 2025 The principal activity of the company during the financial year was that of property investment. 10024789 2025-02-28 10024789 2024-02-29 10024789 core:CurrentFinancialInstruments 2025-02-28 10024789 core:CurrentFinancialInstruments 2024-02-29 10024789 core:Non-currentFinancialInstruments 2025-02-28 10024789 core:Non-currentFinancialInstruments 2024-02-29 10024789 core:ShareCapital 2025-02-28 10024789 core:ShareCapital 2024-02-29 10024789 core:RevaluationReserve 2025-02-28 10024789 core:RevaluationReserve 2024-02-29 10024789 core:RetainedEarningsAccumulatedLosses 2025-02-28 10024789 core:RetainedEarningsAccumulatedLosses 2024-02-29 10024789 2023-02-28 10024789 bus:OrdinaryShareClass1 2025-02-28 10024789 2024-03-01 2025-02-28 10024789 bus:FilletedAccounts 2024-03-01 2025-02-28 10024789 bus:SmallEntities 2024-03-01 2025-02-28 10024789 bus:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 10024789 bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 10024789 bus:Director1 2024-03-01 2025-02-28 10024789 bus:Director2 2024-03-01 2025-02-28 10024789 bus:Director3 2024-03-01 2025-02-28 10024789 2023-03-01 2024-02-29 10024789 core:Non-currentFinancialInstruments 2024-03-01 2025-02-28 10024789 bus:OrdinaryShareClass1 2024-03-01 2025-02-28 10024789 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10024789 (England and Wales)

# LOT31 PROPERTIES LTD

### Unaudited Financial Statements
For the financial year ended 28 February 2025
Pages for filing with the registrar

LOT31 PROPERTIES LTD

## Unaudited Financial Statements

For the financial year ended 28 February 2025

Contents

LOT31 PROPERTIES LTD

## STATEMENT OF FINANCIAL POSITION

As at 28 February 2025
LOT31 PROPERTIES LTD

## STATEMENT OF FINANCIAL POSITION (continued)

As at 28 February 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Investment property | 3 | 13,770,685 |  | 13,770,685
|  | 13,770,685 |  | 13,770,685
Current assets |  |  |  |
Debtors | 4 | 11,812 |  | 4,021
Cash at bank and in hand | 5 | 17,054 |  | 42,675
|  | 28,866 |  | 46,696
Creditors: amounts falling due within one year | 6 | ( 1,280,930) |  | ( 1,547,667)
Net current liabilities |  | (1,252,064) |  | (1,500,971)
Total assets less current liabilities |  | 12,518,621 |  | 12,269,714
Creditors: amounts falling due after more than one year | 7 | ( 9,348,759) |  | ( 9,343,603)
Provision for liabilities | 8 | ( 365,685) |  | ( 365,685)
Net assets |  | 2,804,177 |  | 2,560,426
Capital and reserves |  |  |  |
Called-up share capital | 9 | 10 |  | 10
Revaluation reserve |  | 1,291,090 |  | 1,291,090
Profit and loss account |  | 1,513,077 |  | 1,269,326
Total shareholders' funds |  | 2,804,177 |  | 2,560,426

For the financial year ending 28 February 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 Comprehensive Income has not been delivered.

The financial statements of LOT31 Properties Ltd (registered number: 10024789) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

J Katz Director |

11 November 2025

LOT31 PROPERTIES LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 2025
LOT31 PROPERTIES LTD

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 28 February 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

LOT31 Properties 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 2 Lauderdale Road, London, W9 1LS, London, 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 Statement of Financial Position 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 is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

##### Provisions

Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

#### 2. Employees

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

#### 3. Investment property

| Investment property
| £
Valuation |
As at 01 March 2024 | 13,770,685
As at 28 February 2025 | 13,770,685

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

| 2025 |  | 2024
| £ |  | £
Historic cost | 12,113,911 |  | 12,113,911

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 10,773 |  | 4,013
Other debtors | 1,039 |  | 8
| 11,812 |  | 4,021

#### 5. Cash and cash equivalents

| 2025 |  | 2024
| £ |  | £
Cash at bank and in hand | 17,054 |  | 42,675

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

| 2025 |  | 2024
| £ |  | £
Amounts owed to group undertakings | 362,581 |  | 362,581
Amounts owed to directors | 820,511 |  | 1,104,840
Accruals and deferred income | 16,537 |  | 21,354
Corporation tax | 81,301 |  | 58,892
| 1,280,930 |  | 1,547,667

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

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 9,348,759 |  | 9,343,603

The company took out two interest only loans with Investec Bank Plc repayable in full five years after the initial drawdown.
One on 18 August 2022. Included within bank loan is an amount of £8,589,375 less unamortised finance costs of £13,300. The interest rate is 3.59% and the loan is secured by a fixed charge over the investment properties held.
One on 4 November 2022. Included within the bank loan is an amount of £772,500 less unamortised finance costs of £4,972. The interest rate is 5.29% and the loan is secured by a fixed charge over the investment properties held.

#### 8. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 365,685) |  | ( 365,685)
At the end of financial year | ( 365,685) |  | ( 365,685)

#### 9. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
100 Ordinary shares of £ 0.10 each | 10 |  | 10