Company Registration No. 08309630 (England and Wales)
Low Street Properties Limited
Unaudited financial statements
for the period ended 31 December 2025
Pages for filing with the registrar
Low Street Properties Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 9
Low Street Properties Limited
Statement of financial position
As at 31 December 2025
1
31 December 2025
30 September 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
207,627
403,060
Investment property
5
13,731,744
19,077,354
13,939,371
19,480,414
Current assets
Debtors
6
81,587
100,111
Investments
7
-
0
500,000
Cash at bank and in hand
445,146
695,643
526,733
1,295,754
Creditors: amounts falling due within one year
8
(234,755)
(179,907)
Net current assets
291,978
1,115,847
Total assets less current liabilities
14,231,349
20,596,261
Creditors: amounts falling due after more than one year
9
(9,213,449)
(15,715,623)
Provisions for liabilities
(826,981)
(893,789)
Net assets
4,190,919
3,986,849
Capital and reserves
Called up share capital
10
10,000
10,000
Non-distributable profits reserve
11
2,998,471
2,882,790
Distributable profit and loss reserves
1,182,448
1,094,059
Total equity
4,190,919
3,986,849

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial period ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

Low Street Properties Limited
Statement of financial position (continued)
As at 31 December 2025
2
The financial statements were approved by the board of directors and authorised for issue on 12 August 2026 and are signed on its behalf by:
Michael John Robinson
Director
Company Registration No. 08309630
Low Street Properties Limited
Notes to the financial statements
For the period ended 31 December 2025
3
1
Accounting policies
Company information

Low Street Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Low Street, North Ferriby, East Yorkshire, HU14 3DD.

1.1
Reporting period

The current accounting period covers a 15 month period to 31 December 2025. The change was made to align the company's reporting period with the timing of several planned investment property disposals. Comparative amounts presented in the financial statements (including related notes), cover the 12 month period to 30 September 2024 and are therefore not entirely comparable.

1.2
Basis of preparation

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, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.3
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.

1.4
Revenue

Turnover is recognised at the fair value of the consideration received or receivable for rents due for the period in the ordinary nature of the business.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
Buildings - 50 years straight line / Land - not depreciated
Integral features
10 years straight line
Fixtures and fittings
25 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

Low Street Properties Limited
Notes to the financial statements (continued)
For the period ended 31 December 2025
1
Accounting policies (continued)
4
1.7
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.8
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.

1.9
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 statement of financial position 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, 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.

Low Street Properties Limited
Notes to the financial statements (continued)
For the period ended 31 December 2025
1
Accounting policies (continued)
5
1.10
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.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax. Current tax assets are recognised when tax paid exceeds the tax payable.

Current tax

Current and deferred tax is charged or credited to profit or loss, except when it relates to items charged or credited to other comprehensive income or equity, when the tax follows the transaction or event it relates to and is also charged or credited to other comprehensive income, or equity.

Current tax assets and liabilities and deferred tax assets and liabilities are offset, if and only if, there is a legally enforceable right to set off the amounts and the entity intends either to settle on the net basis or to realise the asset and settle the liability simultaneously.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. Current tax assets and liabilities are calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax is calculated at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled based on tax rates that have been enacted or substantively enacted at the reporting date.

Deferred tax liabilities are recognised in respect of all timing differences that exist at the reporting date. Timing differences are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in different periods from their recognition in the financial statements. Deferred tax assets are recognised only to the extent that it is probable that they will be recovered by the reversal of deferred tax liabilities or other future taxable profits.

For invested properties measured at fair value, deferred tax is measured using the tax rates and allowances that apply to the sale of the asset or property.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Low Street Properties Limited
Notes to the financial statements (continued)
For the period ended 31 December 2025
1
Accounting policies (continued)
6
1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Critical accounting 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.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Investment property valuation

The fair value of the investment property was calculated based on a valuation finalised in November 2024. Management do not consider an updated valuation to be necessary.

3
Employees

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

2025
2024
Number
Number
Total
2
2
Low Street Properties Limited
Notes to the financial statements (continued)
For the period ended 31 December 2025
7
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 October 2024
167,438
519,633
687,071
Additions
-
0
10,086
10,086
Disposals
(167,438)
(36,597)
(204,035)
At 31 December 2025
-
0
493,122
493,122
Depreciation and impairment
At 1 October 2024
19,943
264,068
284,011
Depreciation charged in the period
1,899
41,368
43,267
Eliminated in respect of disposals
(21,842)
(19,941)
(41,783)
At 31 December 2025
-
0
285,495
285,495
Carrying amount
At 31 December 2025
-
0
207,627
207,627
At 30 September 2024
147,495
255,565
403,060
5
Investment property
2025
£
Fair value
At 1 October 2024
19,077,354
Disposals
(5,345,610)
At 31 December 2025
13,731,744

Investment property comprises multi-occupancy buildings. Investment properties were revalued to their respective market values in the prior year following a valuation carried out by Smart Investment and Management Ltd in November 2024.

6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
8,346
48,347
Other debtors
73,241
51,764
81,587
100,111
Low Street Properties Limited
Notes to the financial statements (continued)
For the period ended 31 December 2025
8
7
Current asset investments
2025
2024
£
£
Other investments
-
0
500,000
8
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
19,419
12,123
Corporation tax
186,348
131,562
Other taxation and social security
1,033
1,269
Other creditors
27,955
34,953
234,755
179,907
9
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
9,213,449
15,715,623
10
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
10,000
10,000
10,000
10,000
11
Non-distributable profits reserve
2025
2024
£
£
At the beginning of the period
2,882,790
473,926
Non distributable profits in the period
115,681
2,408,864
At the end of the period
2,998,471
2,882,790

Non distributable profits relate to disposals of investment properties including any associated deferred tax.

Low Street Properties Limited
Notes to the financial statements (continued)
For the period ended 31 December 2025
9
12
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
23,874
-
0
13
Related party transactions
Transactions with related parties

2025
2024
Amounts due to related parties
£
£
Loans made by the directors
9,213,449
15,715,623

With effect from 30 September 2022, the Directors have signed loan agreement variations waiving their rights to interest on the above loan balances.

Written notice is required 12 months before loans can be repaid in full to the directors and therefore the loans are classed as falling due after more than one year.

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due from related parties
£
£
Other related parties
142
410
Other information

During the year Michael and Lorraine Robinson, directors of the company, jointly purchased 5 Low Street from the company. The property was sold for proceeds of £110,000 and contents for proceeds of £15,000, resulting in a loss on disposal of £27,729, which has been recognised in the profit and loss account. The transaction was undertaken at market value.

Following the disposal, the property was leased back to the company by the directors. The lease is on commercial terms, with annual rentals payable of £10,000, which are in line with market rates. Rental expenses of £6,126 were charged to the profit and loss account during the year in respect of this arrangement.

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