Company registration number 05949088 (England and Wales)
LATIUM USA PARTNERSHIP 1 LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2025
PAGES FOR FILING WITH REGISTRAR
LATIUM USA PARTNERSHIP 1 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LATIUM USA PARTNERSHIP 1 LIMITED
BALANCE SHEET
AS AT
30 OCTOBER 2025
30 October 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Debtors
4
1,450,436
-
0
Investments
5
7,450,001
7,450,001
8,900,437
7,450,001
Creditors: amounts falling due within one year
6
(41,199)
(4,654)
Net current assets
8,859,238
7,445,347
Creditors: amounts falling due after more than one year
7
(4,880,262)
(4,880,262)
Net assets
3,978,976
2,565,085
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
3,978,975
2,565,084
Total equity
3,978,976
2,565,085

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 profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 24 July 2026 and are signed on its behalf by:
Mr E J Armitage
Director
Company registration number 05949088 (England and Wales)
LATIUM USA PARTNERSHIP 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 OCTOBER 2025
- 2 -
1
Accounting policies
Company information

Latium USA Partnership 1 Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hamilton House, Church Street, Altrincham, WA14 4DR.

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.

Latium USA Partnership 1 Limited is a wholly owned subsidiary of NE Investments Ltd. Latium USA Partnership 1 Limited owns 50% of Latium Investments Partnership (Delaware), a company registered in the USA, with Latium USA Partnership 2 Limited also owning 50% of Latium Investments Partnership (Delaware). As both entities own 50% neither entity has control over the USA entity nor the wider group and as such are not required to prepare consolidated group accounts.

Furthermore, Section 15 of FRS 102 Investments in Joint Ventures d oes not apply as neither Latium USA Partnership 1 or 2 have contractually agreed sharing of control over Latium Investments Partnership (Delaware). Control is established by NE Investments Limited, the ultimate parent company.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Current 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.

1.4
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.

LATIUM USA PARTNERSHIP 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 OCTOBER 2025
1
Accounting policies
(Continued)
- 3 -
1.5
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.

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.

1.6
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.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

LATIUM USA PARTNERSHIP 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 OCTOBER 2025
- 4 -
3
Employees

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

2025
2024
Number
Number
Total
0
0
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,450,436
-
0
5
Current asset investments
2025
2024
£
£
Investments in subsidiaries held for sale
7,450,001
7,450,001

Current asset investments reflect the company's investment in Latium Investments Partnership (DE) which is currently held for sale.

6
Creditors: amounts falling due within one year
2025
2024
£
£
Corporation tax
-
0
4,654
Other creditors
41,199
-
0
41,199
4,654
7
Creditors: amounts falling due after more than one year
2025
2024
£
£
Loan notes
4,880,262
4,880,262

On 14 November 2006, the Company issued £2,450,000 secured loan notes and, on 4 September 2007, £5,000,000 unsecured loan notes. Both loan notes carried a fixed interest rate of 12% and were due for repayment on 31 October 2013, or earlier if the Company ceased trading. The interest rates on both loan notes have subsequently been waived.

No payments of principal or interest may be made under either loan note without the consent of the senior debt provider to the parent company, NE Investments Limited. The £2,450,000 loan notes are secured on the Company's investment in Four Seasons Partnership.

LATIUM USA PARTNERSHIP 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 OCTOBER 2025
- 5 -
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 30 October 2025 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Senior Statutory Auditor:
Nathaniel Davidson BA(Hons) ACA
Statutory Auditor:
Lopian Gross Barnett & Co
Date of audit report:
24 July 2026
9
Events after the reporting date

There are no post balance sheet events which require disclosure at the balance sheet date.

10
Related party transactions

At the reporting date, the company held the following balances with related parties under common control:

The company owed £4,885,461 (2024: £4,880,262) in respect of historic loan notes.

£1,450,497 (2024: £nil) was owed to the company in relation to a new loan issued. While the loan does not carry any fixed terms, £49,490 of interest was recognised.

11
Parent company

The company is a wholly owned subsidiary undertaking of NE Investments Ltd, a company registered in England and Wales whose registered office is Hamilton House, Church Street, Altrincham, WA14 4DR.

The ultimate controlling party is Brian Kennedy.

2025-10-30 2024-10-31 false false false 24 July 2026 CCH Software CCH Accounts Production 2026.100 No description of principal activity Mr T Halpin Mr B G Soule Mr C Gorvin Mr E J Armitage 05949088 2024-10-31 2025-10-30 05949088 2025-10-30 05949088 2024-10-30 05949088 core:CurrentFinancialInstruments core:WithinOneYear 2025-10-30 05949088 core:CurrentFinancialInstruments core:WithinOneYear 2024-10-30 05949088 core:Non-currentFinancialInstruments core:AfterOneYear 2025-10-30 05949088 core:Non-currentFinancialInstruments core:AfterOneYear 2024-10-30 05949088 core:CurrentFinancialInstruments 2025-10-30 05949088 core:CurrentFinancialInstruments 2024-10-30 05949088 core:ShareCapital 2025-10-30 05949088 core:ShareCapital 2024-10-30 05949088 core:RetainedEarningsAccumulatedLosses 2025-10-30 05949088 core:RetainedEarningsAccumulatedLosses 2024-10-30 05949088 bus:Director4 2024-10-31 2025-10-30 05949088 2023-10-31 2024-10-30 05949088 core:Non-currentFinancialInstruments 2025-10-30 05949088 core:Non-currentFinancialInstruments 2024-10-30 05949088 bus:PrivateLimitedCompanyLtd 2024-10-31 2025-10-30 05949088 bus:FRS102 2024-10-31 2025-10-30 05949088 bus:Audited 2024-10-31 2025-10-30 05949088 bus:Director1 2024-10-31 2025-10-30 05949088 bus:Director2 2024-10-31 2025-10-30 05949088 bus:Director3 2024-10-31 2025-10-30 05949088 bus:SmallCompaniesRegimeForAccounts 2024-10-31 2025-10-30 05949088 bus:FullAccounts 2024-10-31 2025-10-30 xbrli:pure xbrli:shares iso4217:GBP