Lucava Developments Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08650799

Lucava Developments Limited

Filleted Unaudited Financial Statements

31 August 2025

Lucava Developments Limited

Statement of Financial Position

31 August 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	5	7,265,012	7,053,410
Investments	6	1	1
		------------	------------
		7,265,013	7,053,411

Current assets

Debtors	7	3,892,744	3,898,880
Cash at bank and in hand		112,592	35,055
		------------	------------
		4,005,336	3,933,935

Creditors: amounts falling due within one year	8	3,054,238		2,994,359
		------------		------------
Net current assets			951,098		939,576
			------------		------------
Total assets less current liabilities			8,216,111		7,992,987

Creditors: amounts falling due after more than one year	9		5,516,573		5,545,379

Provisions

Taxation including deferred tax	605,363	552,463
	------------	------------
Net assets	2,094,175	1,895,145
	------------	------------

Capital and reserves

Called up share capital	10	1	1
Other reserves		1,816,090	1,657,388
Profit and loss account		278,084	237,756
		------------	------------
Shareholders funds		2,094,175	1,895,145
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

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

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Lucava Developments Limited

Statement of Financial Position (continued)

31 August 2025

These financial statements were approved by the board of directors and authorised for issue on 20 February 2026 , and are signed on behalf of the board by:

Mr P Luen
Director

Company registration number: 08650799

Lucava Developments Limited

Notes to the Financial Statements

Year ended 31 August 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1st Floor Phoenix House, 3 South Parade, Leeds, LS1 5QX, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

4. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax (income)/expense	( 4,829)	6,924
Adjustments in respect of prior periods	–	16,731
	-------	--------
Total current tax	( 4,829)	23,655
	-------	--------

Deferred tax:

Origination and reversal of timing differences	52,900	51,360
	--------	--------
Tax on profit	48,071	75,015
	--------	--------

5. Tangible assets

	Freehold property
	£
Cost
At 1 September 2024	7,053,410
Other movements	211,602
	------------
At 31 August 2025	7,265,012
	------------
Depreciation
At 1 September 2024 and 31 August 2025	–
	------------
Carrying amount
At 31 August 2025	7,265,012
	------------
At 31 August 2024	7,053,410
	------------

Tangible assets held at valuation

The director has reviewed the valuation of the investment property on 31 August 2024 using information such as recent market data for similar properties in the same area and has concluded that the fair value of the investment property at this date was £7,265,013. The historical cost of the property was £4,833,635.

6. Investments

	Shares in group undertakings
	£
Cost
At 1 September 2024 and 31 August 2025	1
	----
Impairment
At 1 September 2024 and 31 August 2025	–
	----

Carrying amount
At 31 August 2025	1
	----
At 31 August 2024	1
	----

7. Debtors

	2025	2024
	£	£
Trade debtors	17,792	27,956
Amounts owed by group undertakings	3,870,924	3,870,924
Other debtors	4,028	–
	------------	------------
	3,892,744	3,898,880
	------------	------------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	8,131	9,999
Accruals and deferred income	58,054	62,840
Corporation tax	2,095	6,923
Director loan accounts	2,985,958	2,914,597
	------------	------------
	3,054,238	2,994,359
	------------	------------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	5,516,573	5,545,379
	------------	------------

The bank loan is secured by way of fixed charge on the properties to which the borrowing relates. There is a cross company guarantee with respect to one of the loans as the property is owned by the subsidiary company Lucava Dev 3 Limited.

The director has provided a personal guarantee in respect to another bank loan held by the company.

10. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	1	1	1	1
	----	----	----	----

11. Director's advances, credits and guarantees

During the year there were no director's advances, credits and guarantees.

12. Related party transactions

During the year the company entered into transactions in the ordinary course of business, with its subsidiary company Lucava Dev 3 Limited. Transactions entered into and trading balances outstanding at 31st August 2024 are as followed:

	Amount owed by subsidiary	Amount owed to subsidiary
	£	£
2024	3,870,924	–
2023	3,870,924	–

13. Controlling party

The group is controlled by P Luen, director of the parent company.