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Registered number: 13479674 LANDOR ART SPACE LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 31 MARCH 2025
LANDOR ART SPACE LIMITED CONTENTS
| Page
Accountants' report | 1
Balance sheet | 2
Notes to the financial statements | 3 - 5
LANDOR ART SPACE LIMITED CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LANDOR ART SPACE LIMITED FOR THE YEAR ENDED 31 MARCH 2025 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Landor Art Space Limited for the year ended 31 March 2025 which comprise the Balance sheet 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 Board of directors of Landor Art Space Limited, as a body, in accordance with the terms of our engagement letter dated 23 August 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Landor Art Space Limited and state those matters that we have agreed to state to the Board of directors of Landor Art Space Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Landor Art Space Limited and its Board of directors, as a body, for our work or for this report. It is your duty to ensure that Landor Art Space Limited 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 Landor Art Space Limited. You consider that Landor Art Space Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or review of the financial statements of Landor Art Space Limited. 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 financial statements. BAGINSKY COHEN CHARTERED ACCOUNTANTS 930 HIGH ROAD LONDON N12 9RT 24 March 2026 Page 1
LANDOR ART SPACE LIMITED REGISTERED NUMBER: 13479674 BALANCE SHEET AS AT 31 MARCH 2025
| 2025 | 2025 | 2024 | 2024
Note | £ | £ | £ | £
FIXED ASSETS |  |  |  |  |
Investment property | 4 |  | 5,482,258 |  | 5,482,258
CURRENT ASSETS |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 210,853 |  | 192,829 |
Cash at bank and in hand | 6 | 220,275 |  | 210,891 |
|  | 431,128 |  | 403,720 |
Creditors: amounts falling due within one year | 7 | (68,163) |  | (35,447) |
NET CURRENT ASSETS |  |  | 362,965 |  | 368,273
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 5,845,223 |  | 5,850,531
Creditors: amounts falling due after more than one year | 8 |  | (5,500,000) |  | (5,700,000)
NET ASSETS |  |  | 345,223 |  | 150,531
CAPITAL AND RESERVES |  |  |  |  |
Called up share capital |  |  | 100 |  | 100
Profit and loss account |  |  | 345,123 |  | 150,431
|  |  | 345,223 |  | 150,531
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. 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. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 March 2026.
A TABATZNIK
Director
Page 2
LANDOR ART SPACE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1.ACCOUNTING POLICIES
| 1.1 | BASIS OF PREPARATION OF FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 2). The following principal accounting policies have been applied:
| 1.2 | REVENUE
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 1.3 | INVESTMENT PROPERTY
Investment property is carried at fair value determined and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
| 1.4 | DEBTORS
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 1.5 | CASH AND CASH EQUIVALENTS
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. Page 3
LANDOR ART SPACE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1.ACCOUNTING POLICIES (CONTINUED)
| 1.6 | CREDITORS
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
2. | JUDGMENTS IN APPLYING ACCOUNTING POLICIES AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the company’s accounting policies, which are described in note 1, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
3. | EMPLOYEES
| The Company has no employees other than the directors, who did not receive any remuneration (2024 - £NIL).
4. | INVESTMENT PROPERTY
|  | Freehold investment property
|  | £
| VALUATION |
| At 1 April 2024 | 5,482,258
| AT 31 MARCH 2025 | 5,482,258
The 2025 valuations were made by the Directors, on an open market value for existing use basis.
Page 4
LANDOR ART SPACE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
5. | DEBTORS
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 198,273 | 183,649
| Prepayments and accrued income | 12,580 | 9,180
|  | 210,853 | 192,829
6. | CASH AND CASH EQUIVALENTS
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Cash at bank and in hand | 220,275 | 210,891
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade creditors | (600) | (2,400)
| Accruals and deferred income | 68,763 | 37,847
|  | 68,163 | 35,447
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Amounts owed to group undertakings | 5,500,000 | 5,700,000
9. | RELATED PARTY TRANSACTIONS
| At the year end a balance of £5,500,000 is owing to Grans Property Holding Ltd, the parent company. This is an interest free, unsecured loan facility which is repayable on demand.
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