Company registration number 11088934 (England and Wales)
LRG FIC
FINANCIAL STATEMENTS
for the year ended
31 MARCH 2025
LRG FIC
COMPANY INFORMATION
Directors
G Houghton
Eight Four Two Trustees Limited - Matthew Bowen
Company number
11088934
Registered office
Summit House
170 Finchley Road
London
NW3 6BP
Accountants
Fisher Phillips LLP
Summit House
170 Finchley Road
London
NW3 6BP
LRG FIC
CONTENTS
Page
Directors' report
1
Accountants' report
2
Profit and loss account
3
Balance sheet
4
Notes to the financial statements
5 - 9
LRG FIC
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
- 1 -

The directors present their annual report and financial statements for the year ended 31 March 2025.

Principal activities

The principal activity of the company is that of carrying on the business of an investment company.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

G Houghton
Eight Four Two Trustees Limited - Matthew Bowen
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
Eight Four Two Trustees Limited - Matthew Bowen
Director
2 December 2025
LRG FIC
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LRG FIC FOR THE YEAR ENDED 31 MARCH 2025
- 2 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of LRG FIC for the year ended 31 March 2025 which comprise the profit and loss account, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the b oard of d irectors of LRG FIC, as a body, in accordance with the terms of our engagement letter dated 1 December 2023. Our work has been undertaken solely to prepare for your approval the financial statements of LRG FIC and state those matters that we have agreed to state to the b oard of d irectors of LRG FIC, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LRG FIC and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that LRG FIC has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of LRG FIC. You consider that LRG FIC is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of LRG FIC. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory f inancial statements.

Fisher Phillips LLP
2 December 2025
Chartered Accountants
Summit House
170 Finchley Road
London
NW3 6BP
LRG FIC
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
2025
2024
Notes
£
£
Turnover
-
-
Administrative expenses
(23,699)
(14,181)
Operating loss
(23,699)
(14,181)
Interest receivable and similar income
7,734
10,779
Other fair value gains and losses
3
1,802
41,865
(Loss)/profit before taxation
(14,163)
38,463
Tax on (loss)/profit
4
16,086
(8,919)
Profit for the financial year
1,923
29,544

The profit and loss account has been prepared on the basis that all operations are continuing operations.

LRG FIC
BALANCE SHEET
AS AT 31 MARCH 2025
31 March 2025
- 4 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
5
508,480
526,176
Current assets
Debtors
6
1
1
Cash at bank and in hand
6,992
1,432
6,993
1,433
Creditors: amounts falling due within one year
7
(5,627)
(3,600)
Net current assets/(liabilities)
1,366
(2,167)
Total assets less current liabilities
509,846
524,009
Provisions for liabilities
8
(293)
(16,379)
Net assets
509,553
507,630
Capital and reserves
Called up share capital
9
500,000
500,000
Profit and loss reserves
10
9,553
7,630
Total equity
509,553
507,630

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

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.

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

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

The financial statements were approved by the board of directors and authorised for issue on 2 December 2025 and are signed on its behalf by:
Eight Four Two Trustees Limited - Matthew Bowen
Director
Company registration number 11088934 (England and Wales)
LRG FIC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
1
Accounting policies
Company information

LRG FIC is a private company unlimited by shares incorporated in England and Wales. The registered office is Summit House, 170 Finchley Road, London, NW3 6BP.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities 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 profit or loss.

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.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.

1.3
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.

1.4
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 balance sheet 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.

LRG FIC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 6 -
Basic financial assets

Basic financial assets, which include debtors 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.

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 creditors, 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 creditors 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 creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.5
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.

1.6
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.

LRG FIC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 7 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

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

2025
2024
Number
Number
Total
1
1
3
Other fair value gains and losses
2025
2024
£
£
Fair value gains/(losses)
Gain on financial assets held at fair value through profit or loss
2,137
68,399
Other gains/(losses)
Loss on disposal of financial assets held at fair value through profit or loss
(335)
(26,534)
1,802
41,865
LRG FIC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
3
Other fair value gains and losses
(Continued)
- 8 -

Included in the total figure of £1,802 (2024: £41,865) for Other Fair Value Gains and Losses is the amount of £(335) (2024: £(26,534)) for Profit or (Loss) on disposal of financial assets measured at fair value . The figure above represents unrealised gains/(losses) on financial assets measured at fair value through profit or loss.

4
Taxation
2025
2024
£
£
Deferred tax
Origination and reversal of timing differences
(16,086)
8,919

On the basis of these financial statements no provision has been made for corporation tax.

5
Fixed asset investments
2025
2024
£
£
Other investments other than loans
508,480
526,176
Fixed asset investments revalued
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2024
526,176
Additions
566,914
Valuation changes
2,137
Disposals
(586,747)
At 31 March 2025
508,480
Carrying amount
At 31 March 2025
508,480
At 31 March 2024
526,176
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
1
1
LRG FIC
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 9 -
7
Creditors: amounts falling due within one year
2025
2024
£
£
Other creditors
5,627
3,600
8
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
293
16,379
9
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and not fully paid
1,250 Ordinary A Shares of £1 each
1,250
1,250
41,250 Ordinary B Shares of £1 each
41,250
41,250
41,250 Ordinary C Shares of £1 each
41,250
41,250
41,250 Ordinary D Shares of £1 each
41,250
41,250
125,000
125,000
Preference share capital
Issued and fully paid
375,000 Preference Shares of £1 each
375,000
375,000
Preference shares classified as equity
375,000
375,000
Total equity share capital
500,000
500,000

10
Profit and loss reserves
2025
2024
£
£
At the beginning of the year
7,630
(21,914)
Profit for the year
1,923
29,544
At the end of the year
9,553
7,630
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