Registration number: 03670983

Lonevale Limited

Contents

Company Information	1
Statement of Financial Position	2
Notes to the Financial Statements	3 to 7

Lonevale Limited

Company Information

Directors

V Lutikov K Lutikov A Maxwell-Scott F N Read

Company secretary

V Lutikov

Registered office

4th Floor Malta House 36-38 Piccadilly London W1J 0DP

Auditor

Brebners Chartered Accountants & Statutory Auditor 130 Shaftesbury Avenue London W1D 5AR

Lonevale Limited

Statement of Financial Position as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Investment property	6	7,025,000	7,025,000
Current assets
Debtors	7	2,430,374	2,037,970
Cash at bank and in hand		5,837	295,262
		2,436,211	2,333,232
Creditors: Amounts falling due within one year	8	(450,836)	(764,071)
Net current assets		1,985,375	1,569,161
Total assets less current liabilities		9,010,375	8,594,161
Provisions for liabilities	5	(701,429)	(701,429)
Net assets		8,308,946	7,892,732
Capital and reserves
Called up share capital		1,000	1,000
Profit and loss account		8,307,946	7,891,732
Total equity		8,308,946	7,892,732

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of Lonevale Limited have elected not to include a copy of the profit and loss account within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Company registration number: 03670983

Approved and authorised by the Board on 21 November 2025 and signed on its behalf by:
 

......................................... V Lutikov Company secretary and director

Lonevale Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4th Floor
Malta House
36-38 Piccadilly
London
W1J 0DP

The principal activity of the company is that of property investment.

2	Audit Report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 21 November 2025 was Darren Bond, who signed for and on behalf of Brebners.

3	Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Going concern

The company made a profit for the year and had net assets at the balance sheet date of £8,308,946 including cash at bank of £5,837.

The company funds its working capital requirements through loans from group undertakings. No matters have been drawn to the attention of the directors' to suggest that this funding will be withdrawn in the future.

The directors' have considered the potential effect of the current cost of living crisis and, although there is no certainty as to when this will end, the directors' view is that the impact will be manageable. After taking into consideration the low and manageable expenses of the company and the resources available to the group, the directors' believe that the company will be able to continue trading through difficult economic and worldwide events such as higher interest rates and the war in Ukraine which has caused higher than expected overheads.

On the basis of the above and after making enquiries, the directors' have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly the directors will continue to adopt the going concern basis in preparing the financial statements.

Lonevale Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the rents charged to tenants of the investment property in the ordinary course of the company’s activities on a time apportioned basis. Turnover includes adjustments for all lease incentives on a straight line basis. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for the company's activities.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

The company estimates the fair value of investment properties and to determine the value of any deferred tax provision arising from a fair value adjustment.

Income tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers and/or the directors ("the valuers"). The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Impairment

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Lonevale Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4	Staff numbers

The average number of persons employed by the company during the year, was 0 (2024 - 0).

5

Taxation

Tax charged/(credited) in the income statement

	2025  £	2024  £
Deferred taxation
Arising from origination and reversal of timing differences	-	27,887

Lonevale Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Deferred tax

Deferred tax assets and liabilities