| Lacey Property Investors Limited |
| Registered number: |
11237606 |
| Balance Sheet |
| as at 31 March 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Fixtures & Fittings |
3 |
|
|
2,540 |
|
|
5,080 |
| Freehold investment properties |
4 |
|
|
1,350,000 |
|
|
1,290,288 |
|
|
|
|
1,352,540 |
|
|
1,295,368 |
|
| Current assets |
| Cash at bank |
|
|
8,753 |
|
|
8,932 |
|
| Creditors: amounts falling due within one year |
5 |
|
(415,717) |
|
|
(463,158) |
|
| Net current liabilities |
|
|
|
(406,964) |
|
|
(454,226) |
| Total assets less current liabilities |
|
|
|
945,576 |
|
|
841,142 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(706,349) |
|
|
(706,345) |
|
| Provisions for liabilities |
|
|
|
(31,492) |
|
|
(16,565) |
| Net assets |
|
|
|
207,735 |
|
|
118,232 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
20 |
|
|
20 |
| Fair value reserve |
8 |
|
|
111,285 |
|
|
66,501 |
| Profit and loss account |
|
|
|
96,430 |
|
|
51,711 |
|
| Shareholders' funds |
|
|
|
207,735 |
|
|
118,232 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| P Lacey |
| Director |
| Approved by the board on 11 December 2025 |
|
| Lacey Property Investors Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Turnover |
|
Turnover represents rents and management fees receivable for the year. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Fixtures and fittings |
over 5 years |
|
|
Investment properties |
|
Investment properties are included in the accounts at fair value. Gains and losses in value are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold. |
|
|
Deferred tax |
|
Deferred tax is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Deferred tax is accounted in respect of all material timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
4 |
|
4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 April 2024 |
12,700 |
|
At 31 March 2025 |
12,700 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2024 |
7,620 |
|
Charge for the year |
2,540 |
|
At 31 March 2025 |
10,160 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
2,540 |
|
At 31 March 2024 |
5,080 |
|
|
|
| 4 |
Investment properties |
| Freehold |
| investment |
| properties |
| £ |
|
Fair value |
|
At 1 April 2024 |
1,290,288 |
|
Gain on fair value |
59,712 |
|
At 31 March 2025 |
1,350,000 |
|
|
Historic cost of the investment properties |
1,208,187 |
|
|
|
|
|
|
|
|
|
|
The properties are valued by the directors based on market values. |
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Directors' current account |
383,874 |
|
443,922 |
|
Taxation and social security costs |
14,808 |
|
5,507 |
|
Other creditors |
17,035 |
|
13,729 |
|
|
|
|
|
|
415,717 |
|
463,158 |
|
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Mortgage loans |
706,349 |
|
706,345 |
|
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2025 |
|
2024 |
| £ |
£ |
|
Creditors include: |
|
Amounts payable otherwise than by instalment falling due for payment after more than five years |
|
706,349 |
|
706,345 |
|
|
|
|
|
|
|
|
|
|
|
| 8 |
Fair value reserve |
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 April 2024 |
66,501 |
|
66,501 |
|
Gain on fair valuation |
59,712 |
|
- |
|
Deferred tax on fair value gain |
(14,928) |
|
- |
|
|
At 31 March 2025 |
111,285 |
|
66,501 |
|
|
|
|
|
|
|
|
|
|
|
| 9 |
Related party transactions |
|
|
a. During the year, the company charged £75,000 (2024- £45,000) in respect of management services provided to a business in which both the directors are partners. |
|
|
b. As at 31 March 2025, the company owed the directors £383,874 (2024- £443,922). All balances attract nil rate of interest. |
|
|
|
| 10 |
Other information |
|
|
Lacey Property Investors Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
10 Plackett Way |
|
Cippenham |
|
Slough |
|
SL1 5JT |