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Registered number: 15839393
LD PROP CO 2 LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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LD PROP CO 2 LIMITED
REGISTERED NUMBER: 15839393
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2025
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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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 period 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 by:
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LD PROP CO 2 LIMITED
REGISTERED NUMBER: 15839393
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2025
................................................
M Filer
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The notes on pages 4 to 7 form part of these financial statements.
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LD PROP CO 2 LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Shares issued during the period
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The notes on pages 4 to 7 form part of these financial statements.
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LD PROP CO 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
LD Prop Co 2 Limited is a private company limited by shares and incorporated in England and Wales. The Company's registered number is 15839393 and registered office is 8th Floor 100 Bishopsgate, London, United Kingdom, EC2N 4AG.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the requirements and the Companies Act 2006 and the requirements of the Statement of Recommended Practice 'Accounting by Limited Liabilities Partnerships'. 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 following principal accounting policies have been applied:
The financial statements have been prepared on the going concern basis.
As at 31 December 2025, the Company had net liabilities of £614,776 and incurred a loss of £614,876 for the period. The Company's principal asset comprises stock with a carrying value of £29,114,959 relating to its property development activities. The Company is financed principally through funding provided by its parent undertaking.
The Company has a loan balance due to its parent undertaking, LD Prop Co Holding Limited, of £27,207,319. The directors have received confirmation that the parent undertaking will continue to provide financial support to the Company for the foreseeable future and that repayment of group funding will not be demanded where doing so would adversely affect the Company's ability to meet its obligations as they fall due.
Based on the results of this assessment and the continuing support available from the wider group, the directors have a reasonable expectation that the Company will have adequate resources to continue in operational existence and meet its liabilities as they fall due for a period of at least twelve months from the date of approval of these financial statements. Accordingly, the directors consider it appropriate to adopt the going concern basis in preparing these financial statements.
Interest income is recognised in profit or loss using the effective interest method.
Borrowing costs directly attributable to the acquisition, construction, or production of qualifying assets are capitalised as part of the cost of those inventories. All other borrowing costs are recognised in the profit and loss account in the period in which they are incurred.
Investments in subsidiaries are measured at cost less accumulated impairment.
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LD PROP CO 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
2.Accounting policies (continued)
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
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.
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
Short-term creditors are measured at the transaction price.
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The Company has no employees other than the directors, who did not receive any remuneration.
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Investments in subsidiary companies
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LD PROP CO 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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During the period ended 31 December 2025, capitalised borrowing costs of £3,172,341 were included within Work in Progress.
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Amounts owed by group undertakings
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings (secured)
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Details of security provided:
The amount owed to the parent company, LD Prop Co Holding Limited is secured by charges on the
freehold land held by the company. At the period end, the company owes the parent company £27,207,319 due for repayment by March 2026. Interest is payable at the margin rate of 9.25%.
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LD PROP CO 2 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
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Allotted, called up and fully paid
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10,000 Ordinary shares of £0.01 each
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On incorporation, 10,000 ordinary shares were issued with a nominal value of £0.01 each.
There are unlimited cross guarantees between the Company and LD Prop Co Holding Limited. These are to secure facilities provided by Zorin Avenue Lend Co 1 Designated Activity Company.
The total of these guarantees at 31 December 2025 was £32,984,987.
The immediate parent entity is LD Prop Co Holding Limited, a company registered in England and Wales,
by virtue of its 100% holding of the company shares. The ultimate controlling party is Avenue Europe
International Management L.P, a company registered in Luxembourg, by virtue of its majority shareholding
in the parent entity, LD Prop Co Holding Limited.
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