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Registered number: 03181772
London Buildings (Highgate) Limited
Unaudited Financial Statements
For The Year Ended 31 October 2025
London Buildings (Highgate) Limited
Contents
Contents

| Page
--- | ---
Balance Sheet | 1—2
Notes to the Financial Statements | 3—7

Page 1
London Buildings (Highgate) Limited
Balance Sheet
As At 31 October 2025
Balance Sheet
Registered number: 03181772

| 2025 | 2024
--- | --- | ---
| Notes | £ | £ | £ | £
FIXED ASSETS
Tangible Assets | 4 |  | 4,557,602 |  | 4,572,004
|  |  | 4,557,602 |  | 4,572,004
CURRENT ASSETS
Debtors | 5 | 57,246,545 |  | 38,148,206 |
Investments | 6 | 10,028,603 |  | 30,000,000 |
Cash at bank and in hand |  | 1,601,935 |  | 4,080,741 |
|  | 68,877,083 |  | 72,228,947 |
Creditors: Amounts Falling Due Within One Year | 7 | (125,527 ) |  | (963,581 ) |
NET CURRENT ASSETS (LIABILITIES) |  |  | 68,751,556 |  | 71,265,366
TOTAL ASSETS LESS CURRENT LIABILITIES |  |  | 73,309,158 |  | 75,837,370
Creditors: Amounts Falling Due After More Than One Year | 8 |  | (26,722 ) |  | (35,896 )
PROVISIONS FOR LIABILITIES
Deferred Taxation | 10 |  | (434,562 ) |  | (434,562 )
NET ASSETS |  |  | 72,847,874 |  | 75,366,912
CAPITAL AND RESERVES
Called up share capital | 11 |  | 2 |  | 2
Other reserves |  |  | 2,234,853 |  | 2,234,853
Profit and Loss Account |  |  | 70,613,019 |  | 73,132,057
SHAREHOLDERS' FUNDS |  |  | 72,847,874 |  | 75,366,912

Page 1
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London Buildings (Highgate) Limited
Balance Sheet (continued)
As At 31 October 2025
For the year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board

Mr Colin Serlin Director
22/07/2026

The notes on pages 3 to 7 form part of these financial statements.
Page 2
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London Buildings (Highgate) Limited
Notes to the Financial Statements
For The Year Ended 31 October 2025
Notes to the Financial Statements
1. General Information
London Buildings (Highgate) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03181772 . The registered office is 16 Portland Close, Ayelsbury, HP22 7DG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Rendering of services
Revenue represents rental income from investment properties and amounts received for the sale of lease extensions and properties developed for sale upon completion. Revenue on rental income is recognised in proportion to the lease agreement with full provision made for all foreseable costs.
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.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery | 20% Reducing balance
Motor Vehicles | 20% Reducing balance
Fixtures & Fittings | 20% Reducing balance
Computer Equipment | 20% Reducing balance

2.4. Investment Properties
All investment properties are carried at fair value determined annually 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 for. Changes in fair value are recognised in the profit and loss account.
2.5. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.6. Financial Instruments
The Company only enters into basic financial instrument transactions that result in the recognition offinancial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.
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London Buildings (Highgate) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.8. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.9. Pensions
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.
2.10. Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
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London Buildings (Highgate) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
4. Tangible Assets

| Investment Properties | Plant & Machinery | Motor Vehicles | Computer Equipment | Total
--- | --- | --- | --- | --- | ---
| £ | £ | £ | £ | £
Cost or Valuation
As at 1 November 2024 | 4,500,000 | 9,099 | 95,184 | 2,889 | 4,607,172
As at 31 October 2025 | 4,500,000 | 9,099 | 95,184 | 2,889 | 4,607,172
Depreciation
As at 1 November 2024 | - | 6,786 | 27,652 | 730 | 35,168
Provided during the period | - | 463 | 13,507 | 432 | 14,402
As at 31 October 2025 | - | 7,249 | 41,159 | 1,162 | 49,570
Net Book Value
As at 31 October 2025 | 4,500,000 | 1,850 | 54,025 | 1,727 | 4,557,602
As at 1 November 2024 | 4,500,000 | 2,313 | 67,532 | 2,159 | 4,572,004

5. Debtors

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Due within one year
Trade debtors | 485,868 |  | 210,401
Prepayments and accrued income | 57,318 |  | 64,809
Other debtors | 56,015,599 |  | 37,376,534
Corporation tax recoverable assets | 183,375 |  | 496,462
Other taxes and social security | 7,923 |  | -
| 56,750,083 |  | 38,148,206
Due after more than one year
Corporation tax recoverable assets | 496,462 |  | -
| 57,246,545 |  | 38,148,206

6. Current Asset Investments

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Short term deposits | 10,028,603 |  | 30,000,000

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London Buildings (Highgate) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
7. Creditors: Amounts Falling Due Within One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 10,545 |  | 10,545
Trade creditors | 13,265 |  | 15,426
Corporation tax | - |  | 600,973
Other taxes and social security | - |  | 14,127
Other creditors | 1,269 |  | 105,485
Accruals and deferred income | 50,448 |  | 167,025
Amounts owed to parent undertaking | 50,000 |  | 50,000
| 125,527 |  | 963,581

8. Creditors: Amounts Falling Due After More Than One Year

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Net obligations under finance lease and hire purchase contracts | 26,722 |  | 35,896

9. Obligations Under Finance Leases and Hire Purchase

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
The future minimum finance lease payments are as follows:
Not later than one year | 10,545 |  | 10,545
Later than one year and not later than five years | 26,722 |  | 35,896
| 37,267 |  | 46,441
| 37,267 |  | 46,441

10. Deferred Taxation
The provision for deferred tax is made up as follows:

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Other timing differences | 434,562 |  | 434,562

11. Share Capital

| 2025 |  | 2024
--- | --- | --- | ---
| £ |  | £
Allotted, Called up and fully paid | 2 |  | 2

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London Buildings (Highgate) Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
12. Reserves

| Other reserves | Profit and Loss Account
--- | --- | ---
| £ | £
As at 1 November 2024 | 2,234,853 | 73,132,057
Profit for the year and total comprehensive income | - | 185,962
Dividends paid | - | (2,705,000)
As at 31 October 2025 | 2,234,853 | 70,613,019

Other reserves
This reserve comprises the accumulated movements in the fair value of investment properties and the associated deferred tax provision.
Profit and loss account
This reserve comprises the accumulated profits less dividends.
13. Related Party Transactions
At the period end, an amount of £1,228,975 (2024 - £1,470,999) is due from two directors of the company. The loan attracts interest at the rate of 3.13% (2024 - 2.25%) per annum. The interest receivable for the period was £79,021 (2024 - £38,059).
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