REGISTERED NUMBER: 11318209 (England and Wales)

LOMBARD ASSET 12/14 VALE W3 LTD

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M E Gurpinar

Lombard Asset Management (Bahamas) Ltd

REGISTERED OFFICE:

Unit 1

393 North End Road

London

SW6 1NR

REGISTERED NUMBER:

11318209 (England and Wales)

ACCOUNTANTS:

Sage & Co

Chartered Accountants

40 High Street

Northwood

Middlesex

HA6 1BN

FIXED ASSETS

Investment property

4

2,700,000

2,585,000

CURRENT ASSETS

Debtors

5

858,646

678,898

CREDITORS

Amounts falling due within one year

6

1,901,164

3,397,301

NET CURRENT LIABILITIES

(1,042,518

)

(2,718,403

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,657,482

(133,403

)

CREDITORS

Amounts falling due after more than one year

7

1,620,312

-

NET ASSETS/(LIABILITIES)

37,170

(133,403

)

CAPITAL AND RESERVES

Called up share capital

10

100

100

Fair value reserve

11

(125,000

)

(240,000

)

Retained earnings

162,070

106,497

SHAREHOLDERS' FUNDS

37,170

(133,403

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Board of Directors and authorised for issue on 16 December 2025 and were signed on its behalf by:

M E Gurpinar - Director

1.	STATUTORY INFORMATION

Lombard Asset 12/14 Vale W3 Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The financial statements are prepared on a going concern basis, as the directors will continue to support the company for the foreseeable future.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investment property

Investment property is shown at most recent valuation determined by the director by reference to a valuation by an independent valuer. Any aggregate surplus or deficit arising from changes in fair value recognised in profit or loss.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method.

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.

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.

Other operating income

Other operating income represents rent received from the letting of properties.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such an indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

2,585,000

Revaluations

115,000

At 31 March 2025

2,700,000

NET BOOK VALUE

At 31 March 2025

2,700,000

At 31 March 2024

2,585,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2022

(240,000

)

Valuation in 2025

115,000

Cost

2,825,000

2,700,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other debtors

836,024

676,162

Prepayments

22,622

2,736

858,646

678,898

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts (see note 8)

-

1,620,312

Trade creditors

1

(1

)

Amounts owed to group undertakings

1,896,139

1,772,916

Tax

950

-

Other creditors

2,874

2,874

Accrued expenses

1,200

1,200

1,901,164

3,397,301

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans (see note 8)

1,620,312

-

8.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loans

-

1,620,312

2025

2024

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

1,620,312

-

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loans

1,620,312

1,620,312

The bank loans are secured over the company's assets and guaranteed by a group company.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary Shares

£1

100

100

11.

RESERVES

Fair

value

reserve

£

At 1 April 2024

(240,000

)

Transfer

115,000

At 31 March 2025

(125,000

)