Company registration number 01957591 (England and Wales)
LONDON SETTLED ESTATES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2025
PAGES FOR FILING WITH REGISTRAR
LONDON SETTLED ESTATES LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 7
LONDON SETTLED ESTATES LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2025
31 July 2025
- 1 -
31 July 2025
31 January 2024
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
3
28,749
1,678
Investments
4
30,062
30,052
58,811
31,730
Current assets
Inventories
8,440,069
8,411,303
Trade and other receivables
5
252,947
264,642
Cash and cash equivalents
918,864
364,509
9,611,880
9,040,454
Current liabilities
6
(2,199,187)
(1,683,683)
Net current assets
7,412,693
7,356,771
Net assets
7,471,504
7,388,501
Equity
Called up share capital
7
50,000
50,000
Retained earnings
7,421,504
7,338,501
Total equity
7,471,504
7,388,501

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

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

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.

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

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 19 December 2025 and are signed on its behalf by:
S M Leighton
Director
Company registration number 01957591 (England and Wales)
LONDON SETTLED ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JULY 2025
- 2 -
1
Accounting policies
Company information

London Settled Estates Limited is a private company limited by shares incorporated in England and Wales. The registered office is 30 St George Street, London, W1S 2FH.

1.1
Accounting convention

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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts 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.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Reporting period

The annual financial statements are presented for a period longer than one year. The c omparative amounts presented in the financial statements (including the related notes) are not entirely comparable.

1.3
Revenue

Revenue is measured at the fair value of the consideration received or receivable net of value added tax and represents sales of properties and rent receivable.

1.4
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation net of depreciation.

Computers
3 years straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the statement of income.

1.5
Non-current investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in the statement of income.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

LONDON SETTLED ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Inventories

Properties held for resale are stated at the lower of cost and estimated market value.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the statement of income. Reversals of impairment losses are also recognised in the statement of income.

1.8
Cash and cash equivalents

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.

1.9
Financial instruments

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 statement of financial position 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

Basic financial assets, which include trade and other receivables 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.

Trade receivables, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as ' loans and receivables '. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

LONDON SETTLED ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 4 -
Impairment of financial assets

Financial assets, other than those held at fair value through the statement of income, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the statement of income.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in the statement of income.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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

Basic financial liabilities, including trade and other payables, 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 paymen ts 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 payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

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.

1.11
Taxation

The tax expense represents the sum of the tax currently payable.

LONDON SETTLED ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 5 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the statement of income because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 0 (2024: 0).

3
Property, plant and equipment
Plant and machinery etc
£
Cost
At 1 February 2024
2,416
Additions
35,050
At 31 July 2025
37,466
Depreciation and impairment
At 1 February 2024
738
Depreciation charged in the period
7,979
At 31 July 2025
8,717
Carrying amount
At 31 July 2025
28,749
At 31 January 2024
1,678
4
Fixed asset investments
2025
2024
£
£
Investments
30,062
30,052

LONDON SETTLED ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2025
4
Fixed asset investments
(Continued)
- 6 -
Movements in non-current investments
Shares in group undertakings
£
Cost or valuation
At 1 February 2024
30,052
Additions
10
At 31 July 2025
30,062
Carrying amount
At 31 July 2025
30,062
At 31 January 2024
30,052
5
Trade and other receivables
2025
2024
Amounts falling due within one year:
£
£
Trade receivables
33,439
28,273
Corporation tax recoverable
5,677
-
0
Amounts owed by group undertakings
103,120
100,000
Other receivables
110,711
136,369
252,947
264,642
6
Current liabilities
2025
2024
£
£
Amounts owed to director
935,000
610,000
Trade payables
26,379
15,721
Corporation tax
-
0
6,000
Other taxation and social security
10,604
25,766
Other payables
1,036,404
716,900
Accruals and deferred income
190,800
309,296
2,199,187
1,683,683
7
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
50,000
50,000
50,000
50,000
LONDON SETTLED ESTATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JULY 2025
- 7 -
8
Related party transactions

At the reporting date £100,000 (2024: £100,000) was repayable by Oakflower Ltd, a company under the control of London Settled Estates Ltd. Interest totalling £11,989 (2024: £8,000) has been charged on this amount at a rate of 8% per annum. The loan is unsecured and repayable on demand.

At the reporting date £3,120 (2024: £nil) was repayable by New George St Development Co. Ltd, a company under the control of London Settled Estates Ltd. No interest has been charged on this amount. The loan is unsecured and repayable on demand.

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