Company registration number 04491547 (England and Wales)
LONDON DESIGN GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
PAGES FOR FILING WITH REGISTRAR
LONDON DESIGN GROUP LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 9
LONDON DESIGN GROUP LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2025
30 November 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
373,384
316,355
Investment property
6
8,573,155
9,173,155
Investments
5
210
210
8,946,749
9,489,720
Current assets
Stocks
6,290
33,914
Debtors
7
203,994
299,700
Cash at bank and in hand
266,203
94,778
476,487
428,392
Creditors: amounts falling due within one year
8
(446,234)
(4,052,695)
Net current assets/(liabilities)
30,253
(3,624,303)
Total assets less current liabilities
8,977,002
5,865,417
Provisions for liabilities
(158,185)
(158,185)
Net assets
8,818,817
5,707,232
Capital and reserves
Called up share capital
110
110
Non-distributable profits reserve
9
1,012,764
1,612,764
Distributable profit and loss reserves
7,805,943
4,094,358
Total equity
8,818,817
5,707,232
LONDON DESIGN GROUP LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2025
30 November 2025
- 2 -

For the financial year ended 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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

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.

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 18 August 2026 and are signed on its behalf by:
J Notman
Director
Company registration number 04491547 (England and Wales)
LONDON DESIGN GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 3 -
1
Accounting policies
Company information

London Design Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is London House, 7-11 Prescott Place, London, United Kingdom, SW4 6BS.

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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Going concern

The use of the going concern basis of accounting is appropriate because there are no material true uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

1.3
Turnover

Turnover represents the total rent, project income and consideration receivable from the sale of goods and services in the ordinary course of the company's activities. Turnover is measured at the fair value of the consideration receivable, excluding value added tax and other sales-related taxes.

Rental income is recognised on a straight line basis over the period of the lease to which it relates, unless another systematic basis is more representative of the pattern in which the economic benefits from the lease are consumed. This includes the effect of lease incentives, rent free periods and contractual rent uplifts, which are spread over the non-cancellable lease term. Accrued income is recognised at the balance sheet date to reflect rents earned but not yet invoiced or received, measured by reference to the fair value of the right to consideration for the period up to that date.

Revenue from design projects and related services is recognised over time as the services are provided, reflecting the stage of completion of the contractual performance obligations. The amount recognised is based on the proportion of work completed at the reporting date where the outcome can be measured reliably. Where contracts contain distinct phases, milestones or deliverables, revenue is recognised as those performance obligations are satisfied.

Revenue from the sale of goods is recognised when control of the goods passes to the customer, which is generally on delivery or acceptance by the customer in accordance with the contractual terms. The amount recognised is the transaction price attributable to the goods supplied, after deduction of any discounts, rebates and returns.

1.4
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.

LONDON DESIGN GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 4 -

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:

Plant and equipment
25% on cost
Fixtures and fittings
25% on cost
Computer equipment
33% on cost
Rental stock
See below
Race fillies, Broodmares and Foals
25% on cost

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.

Rental stock

Rental stock comprises furniture, accessories and artwork. Depreciation of rental stock is provided at the following rates:

Furniture and accessories: 30% on cost - when moved to a new contract

10% reducing balance - when on rental

Artwork: 30% on cost - for the first 6 months

10% on cost - every 6 months when on hire

The directors have stated rental stock depreciation and profit on disposal within cost of sales instead of within administrative expenditure due to this classification being considered as more appropriate.

1.5
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.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

1.6
Fixed asset investments

Interests in subsidiaries and associates 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.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

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.

LONDON DESIGN GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 5 -

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.8
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.9
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.

1.10
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.

LONDON DESIGN GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 6 -
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.

1.11
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.

1.12
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

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 profit and loss account, 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.

LONDON DESIGN GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies
(Continued)
- 7 -
1.13
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.

1.14
Retirement benefits

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

1.15
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

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.

Fair value measurement of investment property

The company carries its investment property at fair value, with changes in fair value being recognised in profit or loss. The company uses a combination of open market valuations of similar properties within the same geographical location and third party information either directly related to the properties under ownership or that of similar properties in order to ascertain a fair value at the Balance Sheet date. If considered significantly different to the value held in the Balance Sheet, the directors will recognise the adjustment to fair value in profit or loss accordingly.

3
Employees

The average monthly number of persons employed by the company during the year was:

2025
2024
Number
Number
Total
4
4
LONDON DESIGN GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 8 -
4
Tangible fixed assets
Plant and machinery etc
Rental stock
Race fillies, Broodmares and Foals
Total
£
£
£
£
Cost
At 1 December 2024
58,417
189,816
131,067
379,300
Additions
4,574
27,031
111,700
143,305
Disposals
-
0
-
0
(65,088)
(65,088)
At 30 November 2025
62,991
216,847
177,679
457,517
Depreciation and impairment
At 1 December 2024
57,918
5,027
-
0
62,945
Depreciation charged in the year
420
20,768
-
0
21,188
At 30 November 2025
58,338
25,795
-
0
84,133
Carrying amount
At 30 November 2025
4,653
191,052
177,679
373,384
At 30 November 2024
499
184,789
131,067
316,355
5
Fixed asset investments
2025
2024
£
£
Shares in group undertakings and participating interests
210
210
6
Investment property
2025
£
Fair value
At 1 December 2024
9,173,155
Fair value adjustment
(600,000)
At 30 November 2025
8,573,155

The directors undertook a valuation of one of the properties within the portfolio and using the data obtained, were satisfied that no fair value adjustment was required to the investment property portfolio.

LONDON DESIGN GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 9 -
7
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
127,914
166,776
Other debtors
76,080
117,486
203,994
284,262
Deferred tax asset
-
0
15,438
203,994
299,700
8
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
16,372
16,372
Trade creditors
41,991
30,376
Amounts owed to group undertakings
60,075
3,723,439
Taxation and social security
27,775
34,143
Other creditors
300,021
248,365
446,234
4,052,695

At the balance sheet date, the company had secured liabilities in respect of bank overdraft facilities. The facilities are secured by a legal mortgage and fixed charge over the company's freehold property, together with certain assets and income.

9
Non-distributable profits reserve
2025
2024
£
£
At the beginning of the year
1,612,764
1,612,764
Non distributable profits in the year
(600,000)
-
At the end of the year
1,012,764
1,612,764
10
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned members within the group.

11
Ultimate controlling party

J Notman, a director of the company, was the ultimate controlling party throughout the year by virtue of her shareholding.

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