REGISTERED NUMBER: 11803168 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 JANUARY 2025 TO 31 MARCH 2026

FOR

THOMOND ESTATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J R Lipper

Ms V Weller

REGISTERED OFFICE:

Railway Arches

8a Chancel Street

London

SE1 0UR

REGISTERED NUMBER:

11803168 (England and Wales)

ACCOUNTANTS:

Andrew Cross & Co.

Chartered Certified Accountants

6 Green Lane Business Park

238 Green Lane

New Eltham

London

SE9 3TL

FIXED ASSETS

Tangible assets

4

477

658

Investment property

5

4,050,000

4,630,000

4,050,477

4,630,658

CURRENT ASSETS

Debtors

6

4,840

7,328

Cash at bank and in hand

902

4,576

5,742

11,904

CREDITORS

Amounts falling due within one year

7

129,514

131,107

NET CURRENT LIABILITIES

(123,772

)

(119,203

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,926,705

4,511,455

CREDITORS

Amounts falling due after more than one year

8

(3,540,907

)

(4,089,010

)

PROVISIONS FOR LIABILITIES

(167,649

)

(165,807

)

NET ASSETS

218,149

256,638

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

502,947

497,420

Retained earnings

(284,898

)

(240,882

)

SHAREHOLDERS' FUNDS

218,149

256,638

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 August 2026 and were signed on its behalf by:

J R Lipper - Director

Ms V Weller - Director

1.	STATUTORY INFORMATION

Thomond Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover comprises rental income and other property related income exclusive of VAT and is recognised to the extent that is probable that the economic benefits will flow to the company and can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2025

and 31 March 2026

774

DEPRECIATION

At 1 January 2025

116

Charge for period

181

At 31 March 2026

297

NET BOOK VALUE

At 31 March 2026

477

At 31 December 2024

658

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2025

4,630,000

Additions

(654

)

Disposals

(610,000

)

Revaluations

30,654

At 31 March 2026

4,050,000

NET BOOK VALUE

At 31 March 2026

4,050,000

At 31 December 2024

4,630,000

Fair value at 31 March 2026 is represented by:

£

Valuation in 2026

4,050,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2024

£

£

Other debtors

4,840

7,328

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2024

£

£

Bank loans and overdrafts

97,971

83,674

Trade creditors

2,220

3,700

Taxation and social security

-

2,983

Other creditors

29,323

40,750

129,514

131,107

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2024

£

£

Bank loans

2,391,490

2,815,207

Other creditors

1,149,417

1,273,803

3,540,907

4,089,010

Included under creditors over one year is an amount of £1,149,417 which relates to the balance of monies owed to a related company by virtue of shareholding. The directors consider this amount as a long term investment and will not allow withdrawal of this amount invested until the company's finances are in a position to enable this to be done without impacting on the business.

9.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2024

£

£

Bank loans

2,489,461

2,898,881

The bank loans are secured by way of a charge over the assets of the company. The bank loans are secured by way of joint and several guarantee, from Mr R J Lucy, Mr J R Lipper and Mrs A J Lucy, limited to the amounts borrowed.

10.	ULTIMATE CONTROLLING PARTY

As at the year end, the ultimate parent company is Thomond Investments Limited (formerly known as The LWM Partnership Limited), a company incorporated in England and Wales. The ultimate controlling party is Mr J Lipper by virtue of his majority shareholding.