Company No: 04041337 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Investment property	3	1,135,000		1,135,000
		1,135,000		1,135,000
Current assets
Debtors	4	155,033		47,086
Cash at bank and in hand		51,628		97,475
		206,661		144,561
Creditors: amounts falling due within one year	5	( 23,263)		( 26,326)
Net current assets		183,398		118,235
Total assets less current liabilities		1,318,398		1,253,235
Provision for liabilities		( 82,000)		( 57,500)
Net assets		1,236,398		1,195,735
Capital and reserves
Called-up share capital	6	150		150
Capital redemption reserve		50		50
Profit and loss account		1,236,198		1,195,535
Total shareholders' funds		1,236,398		1,195,735

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.

Director's 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 director acknowledges 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 Profit and Loss Account has not been delivered.

The financial statements of Losan Limited (registered number: 04041337) were approved and authorised for issue by the Director on 12 November 2025. They were signed on its behalf by:

Mr C Vining Director

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

Losan Limited (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 Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom, the principle place of business is Henstridge Airfield, Henstridge, Somerset, BA8 0TN

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 director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has 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 rents receivable, excluding Value Added Tax, in the ordinary nature of business. Rental income is recognised on a straight line basis over the period of the lease.

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 Balance Sheet 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 tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. A third party valuation was obtained from a firm of chartered surveyors for the period ended 31 March 2020 and it is the opinion of the director that this valuation is still materially correct as at 31 March 2025, with the addition of new property during the year. Changes in fair value are recognised in the profit or loss.

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.

2. Employees

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

3. Investment property

	Investment property
	£
Valuation
As at 01 April 2024	1,135,000
Fair value movement	98,000
Disposals	(98,000)
As at 31 March 2025	1,135,000

4. Debtors

	2025		2024
	£		£
Trade debtors	17,340		11,560
Other debtors	137,693		35,526
	155,033		47,086

5. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	0		828
Accruals	2,835		2,700
Taxation and social security	20,428		22,798
	23,263		26,326

6. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
50 A - Ordinary shares of £ 1.00 each	50		50
50 B - Ordinary shares of £ 1.00 each	50		50
50 C - Ordinary shares of £ 1.00 each	50		50
	150		150

7. Related party transactions

Other related party transactions

During the period, repayments of £Nil (2024: £40,000) were made by one of the company's shareholders. Amounts due from this shareholder at the balance sheet date were £1,099 (2024: £1,099).

At the balance sheet date £15,834 was owed to the company (2024: (£7,700)) by a LLP controlled by the members. No interest has been charged on this balance.

During the year, the company transferred land to an LLP controlled by the members for a value of £120,000 (2024: Nil). This was considered to be full market value.