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

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

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.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

Lisna Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 50-52 Wharf Road, Islington, London, N1 7EU.

The financial statements cover 13 months period from 21 March 2024 to 31 March 2025 due to the company being incorporated on 21 March 2024.

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

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Rental income is recognised on a straight line basis over the lease term. For the financial period ended 31 March 2025, the company's entire turnover of £13,221 was derived from rental income.

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

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 current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs 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 value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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 payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable 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.

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.

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

Investment properties are carried at fair value. The property was acquired on 5th July 2024. An independent valuation was carried out on 3rd June 2024 by Mark Gill MRICS of J Raymond Welch Surveyors Limited, which assessed the Market Value at £750,000. The total cost recognised in the accounts for this property was £806,707, which include directly attributable expenditure. As at the year-end 31 March 2025, no new independent valuation was obtained. However, the Directors have reviewed market conditions and comparable properties and believe that the fair value of the investment property at 31 March 2025 is approximately £800,000. A fair value loss of £6,707 has been recognised in profit or loss for the year ended 31 March 2025 under 'Fair value adjustments on investment properties'.

In July 2024, Lisna Properties Limited (the "Borrower") secured a loan of £825,000 from Glent BV (the "Lender"), both entities being under common ownership. This loan was designated to fund the acquisition of the investment property. Interest accrues daily on the outstanding balance at a rate of 4.5% above the Bank of England base rate per annum. The loan is due for repayment on the earlier of 20 years from the agreement date or the sale of the entire Premises. Monthly repayments require the Borrower to remit a minimum of 90% of the gross rental income from the Premises, which is then deducted from the outstanding loan balance. As of the year-end, the total balance stood at £884,248, which includes £59,248 in accrued interest. The agreement is governed by the law of England and Wales.

During the period, 100 ordinary shares were allotted for £1 per share. As at 31 March 2025, these shares were not yet fully paid, resulting in unpaid share capital of £100 owed by the shareholder to the company. This amount is presented as a receivable within current assets.

As at 31 March 2025, the company had the following balances with related parties. These transactions were conducted with entities under common ownership.

Loan from Glent BV: £884,248 (including accrued interest of £59,248) (refer to Note 7 for further details on terms and conditions).

Amounts payable to Glent Engineering Ltd: £13,400.