REGISTERED NUMBER: 00630526 (England and Wales)

Financial Statements

for the Year Ended 31 August 2025

for

London & Economic Properties

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

N A Money-Kyrle

SECRETARY:

Ms S J Morris

REGISTERED OFFICE:

North Wing

Rowden House

Rowden Hill

Chippenham

Wiltshire

SN15 2AG

REGISTERED NUMBER:

00630526 (England and Wales)

FIXED ASSETS

Tangible assets

4

19,581

28,520

Investment property

5

2,267,790

2,267,790

2,287,371

2,296,310

CURRENT ASSETS

Stocks

67,000

67,000

Debtors

6

101,833

82,680

Investments

7

53,785

50,785

Cash at bank

33,260

16,646

255,878

217,111

CREDITORS

Amounts falling due within one year

8

601,144

662,192

NET CURRENT LIABILITIES

(345,266

)

(445,081

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,942,105

1,851,229

PROVISIONS FOR LIABILITIES

2,047

6,269

NET ASSETS

1,940,058

1,844,960

CAPITAL AND RESERVES

Called up share capital

9

42,706

42,706

Share premium

4,000

4,000

Capital redemption reserve

67,075

67,075

Retained earnings

1,826,277

1,731,179

SHAREHOLDERS' FUNDS

1,940,058

1,844,960

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2026 and were signed by:

N A Money-Kyrle - Director

1.	STATUTORY INFORMATION

London & Economic Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of returns, discounts and rebates allowed by the company and value added taxes.The following criteria must also be met before revenue is recognised:

Property dealing income

Revenue arising from the sale of a property is recognised in the year in which the legal title of the property passes to the customer and when all of the following conditions are satisfied:

-

the amount of revenue can be measured reliably;

-

it is probable that the company will receive the consideration due under the contract; and

-

the costs incurred and the costs to complete the contract can be measured reliably.

Rental income

Revenue arising from contracts with customers for the rental of properties is recognised on a straight-line basis over the period of the rental agreement and when all of the following conditions are satisfied:

-

the amount of revenue can be measured reliably;

-

it is probable that the company will receive the consideration due under the contract; and

-

the costs incurred and the costs to complete the contract can be measured reliably.

Revenue earned but not billed to customers is included in accrued income and amounts billed in advance of the revenue being recognised are included in deferred income.

Interest income

Interest income is recognised using the effective interest rate method.

Dividend income

Dividend income is recognised when the right to receive payment is established.

Tangible fixed assets

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

Fixtures and fittings

-

20% on straight line basis

Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Costs includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

Depreciation is charged from when an asset is bought into use. Repairs and maintenance costs are expensed as incurred.The assets’ residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively.

Subsequent additions and major components

Subsequent costs are included in the assets carrying amount or recognised as a separate asset, as appropriate, only when it is probable that economic benefits associated with the item will flow to the company and the cost can be measured reliably.

The carrying amount of any replaced component is derecognised. Major components are treated as a separate asset when they have significantly different patterns of consumption of economic benefits and are depreciated separately over its useful life.

Derecognition

Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the net disposal proceeds and the carrying amount is recognised in profit or loss.

Investment property

Investment properties, all of which are located in the UK, are measured at fair value. These assets are stated at fair value on the date of the latest revaluation, less any impairment losses, where applicable. Valuations are made, where practical, on a regular basis so that the carrying amount of these asset does not differ materially from its fair value.

Any revaluation surplus is recognised in other comprehensive income, net of the related tax impact, and accumulated in equity, or in profit or loss if it reverses a downwards revaluation previously recognised in profit or loss. Such reversal is recorded in profit or loss.

A revaluation deficit is recognised in other comprehensive income, net of the related tax impact, to the extent that it offsets an existing surplus on the same asset with any excess recognised in profit or loss.

Stocks

Stock is stated at the lower of cost and estimated selling price less costs to complete and sell. Stock is recognised as an expense in the period in which the related revenue is recognised.

At the end of each reporting period stock is assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment is recognised in the profit and loss account. Where a reversal of the impairment is recognised the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.

Financial instruments

The group has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, 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.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, 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 receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Taxation

Taxation for the year 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

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 year 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Current asset investments

Listed investments held as current assets are stated at cost less provisions for impairment where the directors consider that there has been a permanent diminution in value.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Dividends

Dividends and other distributions to the group’s shareholders are recognised as a liability in the financial statements in the period in which the dividends and other distributions are approved by the shareholders. These amounts are recognised in the statement of changes in equity.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2024 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 September 2024

and 31 August 2025

44,695

DEPRECIATION

At 1 September 2024

16,175

Charge for year

8,939

At 31 August 2025

25,114

NET BOOK VALUE

At 31 August 2025

19,581

At 31 August 2024

28,520

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2024

and 31 August 2025

2,267,790

NET BOOK VALUE

At 31 August 2025

2,267,790

At 31 August 2024

2,267,790

Fair value at 31 August 2025 is represented by:

£

Valuation in 2016

(70,331

)

Cost

2,338,121

2,267,790

If investment properties had not been revalued they would have been included at the following historical cost:

2025

2024

£

£

Cost

1,608,037

1,608,037

Investment properties were valued on a fair value basis on 31 August 2016 by the directors .

For investment properties held at the start of the financial year and still held at the balance sheet date these properties were valued by the directors on 31 August 2016 on a fair value basis.

The directors consider that the valuation carried out as at 31 August 2016 for these properties remains appropriate at 31 August 2025.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

93,435

76,148

Other debtors

1,000

1,000

Taxation recoverable

-

209

Prepayments and accrued income

7,398

5,323

101,833

82,680

7.	CURRENT ASSET INVESTMENTS

2025

2024

£

£

Listed investments

53,785

50,785

Market value of listed investments at 31 August 2025 - £ 61,954 (2024 - £ 63,292 ).

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

197,882

283,910

Tax

33,261

125,895

VAT

616

946

Other creditors

120,881

3,159

Directors' current accounts

214,729

214,729

Accruals and deferred income

33,775

33,553

601,144

662,192

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

42,706

Ordinary

£1.00

42,706

42,706

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Iain Black (Senior Statutory Auditor)

for and on behalf of Sumer Auditco Limited

11.	RELATED PARTY DISCLOSURES

During the year the company made net purchases totalling £6,000 (2024: £6,000) from Fynamore Asset Management Limited, a company controlled by Nicholas Money-Kyrle. £1,000 (2024: £1,000) is included in accruals and deferred income at the year end in respect of these transactions. In addition, a balance of £118,000 (2024: £Nil) is included in other creditors in relation to amounts advanced to the company in the year.

The company has made net purchases totalling £663 (2024: £Nil) from Nicholas Money-Kyrle during the period.

The company has incurred site charges of £7,978 (2024: £32,519) from Fynamore Asset Management Limited, a company controlled by Nicholas Money-Kyrle. £103,141 (2024: £93,663) is included in trade creditors at the year end in respect of these transactions.

The company has incurred management charges of £Nil (2024: £289) from Rowden Financial Services Limited, a company controlled by Nicholas Money-Kyrle. £115,689 (2024: £189,139) is included in trade creditors.

12.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is N A Money-Kyrle.