REGISTERED NUMBER: 05377174 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

LAZARI ASSETS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Ms A Lazari

REGISTERED OFFICE:

2nd Floor

10(b) Aldermans Hill

Palmers Green

London

N13 4PJ

REGISTERED NUMBER:

05377174 (England and Wales)

AUDITORS:

Chris Skarparis & Co Ltd

Chartered Accountants and

Statutory Auditors

2nd Floor

10(b) Aldermans Hill

Palmers Green

London

N13 4PJ

FIXED ASSETS

Tangible assets

5

82

109

Investment properties

6

4,565,000

4,555,000

4,565,082

4,555,109

CURRENT ASSETS

Debtors

7

107,575

83,841

Cash at bank

1,031,637

1,984,792

1,139,212

2,068,633

CREDITORS

Amounts falling due within one year

8

202,330

1,269,818

NET CURRENT ASSETS

936,882

798,815

TOTAL ASSETS LESS CURRENT LIABILITIES

5,501,964

5,353,924

CREDITORS

Amounts falling due after more than one year

9

(1,310,891

)

(1,320,491

)

PROVISIONS FOR LIABILITIES

12

(226,953

)

(236,646

)

NET ASSETS

3,964,120

3,796,787

CAPITAL AND RESERVES

Called up share capital

13

2

2

Retained earnings

14

3,964,118

3,796,785

SHAREHOLDERS' FUNDS

3,964,120

3,796,787

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 December 2025 and were signed by:

Ms A Lazari - Director

1.	STATUTORY INFORMATION

Lazari Assets Limited is a private company,limited by shares, registered in England and Wales. The company's registered number is 05377174 and registered office address is Greater London House, Hampstead Road, London, NW1 7QX.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates

Critical accounting estimates and assumptions

The preparation of financial statements in accordance with generally accepted accounting principals requires management to make estimates and assumptions in certain circumstances that effect reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the accounts and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates. The estimates and assumptions that have a significant risk of causing a maternal adjustment to the carrying amounts of assets and liabilities within the next financial year are outlined below.

Investment and operating property valuations

Properties are valued annually by external valuers. Valuations are made as at the reporting date and conform to International Valuation Standards. Valuations are made using various assumptions and estimations which include, but are not limited to market yields, transaction prices of similar properties, tenure and tenancy details. These assumptions are approved by the company directors.

Trade receivables

The company reviews trade receivables and makes judgements on the recoverability of these receivables with reference to the age of outstanding amounts, credit status of the counterparty and the status of any outstanding dispute.

Turnover

Turnover represents net rental and other related income, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on reducing balance

Investment properties

Investment properties are carried at fair value as determined above. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Deferred taxes at the balance sheet date have been measured using the enacted tax rates of 25% as reflected in these financial statements.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Financial instruments

The company only enters into basic financial instruments 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 related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out- right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the group would receive for the asset if it were to be sold at the balance sheet date.

Finance costs amortisation

Finance costs incurred in connection with the arrangement of bank loans are capitalised as a reduction to the loan and then amortised , on a straight line basis, over the duration of the loans.

Recognition of income relating to rent free periods

Rental income relating to rent free periods given on new leases is allocated evenly over the period from the date of the lease commencement to the the lease expiry date.

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

Long term directors loan account is interest free and measured at the transaction price.

Derivative financial instruments

The company holds derivative financial instruments to hedge its interest rate risk exposures. All derivatives are recognised initially at fair value. Thereafter, derivatives are measured at fair value with changes recognised in profit or loss as part of interest payable. Fair value is based on price quotations from financial institutions active in the relevant market.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	AUDITORS' REMUNERATION

31.3.25

31.3.24

£

£

Fees payable to the company's auditors for the audit of the company's financial statements

9,025

8,600

Auditors' remuneration for non audit work

2,837

2,353

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 April 2024

and 31 March 2025

2,453

DEPRECIATION

At 1 April 2024

2,344

Charge for year

27

At 31 March 2025

2,371

NET BOOK VALUE

At 31 March 2025

82

At 31 March 2024

109

6.	INVESTMENT PROPERTIES

Total

£

FAIR VALUE

At 1 April 2024

4,555,000

Revaluations

10,000

At 31 March 2025

4,565,000

NET BOOK VALUE

At 31 March 2025

4,565,000

At 31 March 2024

4,555,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2016

1,266,559

Valuation in 2017

200,000

Valuation in 2018

20,000

Valuation in 2019

60,000

Valuation in 2020

50,000

Valuation in 2021

210,000

Valuation in 2022

35,000

Valuation in 2023

(55,000

)

Valuation in 2024

(55,000

)

Valuation in 2025

10,000

Cost

2,823,441

4,565,000

If Investment properties had not been revalued they would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

2,823,441

2,823,441

The investment properties were valued on an open market basis on 31 March 2025 by Lambert Smith Hampton Chartered Surveyors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

103,492

78,701

Prepayments

4,083

5,140

107,575

83,841

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts (see note 10)

-

1,159,000

Other loans (see note 10)

-

(48,773

)

Trade creditors

6,774

386

Tax

66,482

66,092

VAT

3,093

4,285

Other creditors

17,836

-

Rent received in advance

71,158

74,149

Accrued expenses

36,987

14,679

202,330

1,269,818

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Tenants' deposits

40,186

49,786

Directors' loan accounts

1,270,705

1,270,705

1,310,891

1,320,491

10.

LOANS

An analysis of the maturity of loans is given below:

31.3.25

31.3.24

£

£

Amounts falling due within one year or on demand:

Bank loan under 1 yr

-

1,159,000

Financial Instruments

-

(48,773

)

-

1,110,227

11.	DIRECTOR'S LOAN

Included in Creditors - amounts falling due after more than one year is a loan of £1,270,705 (2024: £1,270,705) due to the Director. This loan is recognised at transaction price. The director's loan is not due until after more than 1 year and is interest free.

12.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Other provisions

Deferred tax on CGT provision

226,953

224,453

Deferred tax provision on SWAP

-

12,193

226,953

236,646

Capital gains tax on uncrystallised gains on property investments is provided in the financial statements as shown above.

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

2

Ordinary

£1

2

2

14.

RESERVES

Retained

earnings

£

At 1 April 2024

3,796,785

Profit for the year

167,333

At 31 March 2025

3,964,118

Included in Retained earnings as at 31 March 2025 is an amount of £1,514,606 (2024: £1,507,106) of revaluation reserves which are non distributable.

15.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Christakis Skarparis (Senior Statutory Auditor)

for and on behalf of Chris Skarparis & Co Ltd