Registration number: 11239590

Lafone Properties Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Lafone Properties Limited

Company Information

Directors

Mr J N P Morris Mrs V K M Morris Mr N A P Hills Mrs P M C Beare Mrs N Stitchman Mr A F H Hills

Registered office

Bank House Bank Street Tonbridge Kent TN9 1BL

Accountants

Charter Tax Consulting Limited 8th Floor 1 Southampton Street London WC2R 0LR

Lafone Properties Limited

(Registration number: 11239590)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Investment property	4	15,000	15,000
Current assets
Stocks	5	1,174,851	1,178,053
Debtors	6	5,922	597
Cash at bank and in hand		90,481	54,217
		1,271,254	1,232,867
Creditors: Amounts falling due within one year	9	(1,360,907)	(1,362,143)
Net current liabilities		(89,653)	(129,276)
Net liabilities		(74,653)	(114,276)
Capital and reserves
Called up share capital	7	1,000	1,000
Retained earnings		(75,653)	(115,276)
Shareholders' deficit		(74,653)	(114,276)

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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 December 2025 and signed on its behalf by:
 

......................................... Mr J N P Morris Director

Lafone Properties Limited

Notes to the Unaudited 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 & Wales.

The address of its registered office is:
Bank House
Bank Street
Tonbridge
Kent
TN9 1BL

These financial statements were authorised for issue by the Board on 23 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for sales made in the ordinary course of the company’s activities. Turnover is shown net of sales/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 each of the company's activities.

Rental income is recognised in the accounting period to which it relates. Rental income is included, net of expenditure, in the Profit and Loss Account as other operating income.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external 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.

Lafone Properties Limited

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

Stocks

Stock comprises freehold properties held for sale. The properties are stated at the lower of cost and estimated selling price less costs to complete and sell.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2024 - 6).

4	Investment properties

	2025 £
At 1 April	15,000
At 31 March	15,000

The investment property is included in the balance sheet at the valuation provided by an independent valuer, Batcheller Monkhouse, in September 2023. The directors have confirmed that they do not consider the market value to have changed since then.

5

Stocks

	2025 £	2024 £
Land and buildings	1,174,851	1,178,053

6

Debtors

Current	2025 £	2024 £
Other debtors	5,922	597
	5,922	597

Lafone Properties Limited

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

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £0.01 each	100,000	1,000	100,000	1,000

8	Related party transactions

Loans from related parties

2025	Key management £	Total £
At start of period	1,352,839	1,352,839
At end of period	1,352,839	1,352,839

2024	Key management £	Total £
At start of period	1,352,839	1,352,839
At end of period	1,352,839	1,352,839

Terms of loans from related parties

The directors and shareholders have made loans to the company totalling £1,352,839. These loans are repayable on a date to be determined by the company and are included in other creditors, amounts falling due within one year.

Interest is charged at 0% but this can be varied by agreement in writing between the company and the lender.

The loans are secured by fixed and floating charges over the company's assets.
 

Lafone Properties Limited

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

9

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Accruals and deferred income	8,068	9,304
Other creditors	1,352,839	1,352,839
	1,360,907	1,362,143