Lancebury Estates Ltd

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—7

1. General Information

Lancebury Estates Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05852075 . The registered office is The Old Laundry Lady Mary Square, Rostherne Lane, Rostherne, Knutsford, Cheshire, WA16 6SA.

The principal activity of the company is property investment and development.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements are prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

2.2. Going Concern Disclosure

The company has net current liabilities of £686,593 (2024: £757,281), including £654,257 (2024: £730,403) owed to group and related undertakings with no fixed repayment terms. Assurances have been received that financial support and extension of these facilities will be made available if required, and accordingly the financial statements are prepared on the going concern basis.

2.3. Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract 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;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Turnover consists of rents receivable from investment properties, excluding VAT where relevant.

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Lancebury Estates Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.4. Tangible Fixed Assets and Depreciation

Tangible fixed assets under the cost model, other than investment properties, are measured at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

20% on cost.

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Comprehensive Income.

2.5. Investment Properties

All investment properties are carried at fair value, with changes in fair value being recognised in the Income Statement. The directors of the company have valued the property themselves based on such factors as current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. In this case the fair value is considered to be an open market value. The determined fair value of the investment property is most sensitive to the estimated yield. No depreciation is provided for investment properties.

Deferred taxation is provided on revaluation gains at the rate expected to apply when the property is sold.

2.6. Financial Instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were sold at the balance sheet date.

2.7. Taxation

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

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the Income Statement because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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.

...CONTINUED

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Lancebury Estates Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.7. Taxation - continued

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair value of liabilities acquired and the amount that will be assessed for tax.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in the Income Statement, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

2.8. Provisions for liabilities

Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the Income Statement in the year that the company becomes aware of the obligation, and are measured at the best estimate at the year end date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

2.9. Debtors and Creditors

Debtors:

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.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.10. Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than twenty four hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2024: 2)

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Lancebury Estates Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

4. Tangible Assets

	Investment Properties	Fixtures & Fittings	Total
	£	£	£
Cost or Valuation
As at 1 January 2025	1,784,486	15,427	1,799,913

As at 31 December 2025	1,784,486	15,427	1,799,913

Depreciation
As at 1 January 2025	-	15,427	15,427

As at 31 December 2025	-	15,427	15,427

Net Book Value
As at 31 December 2025	1,784,486	-	1,784,486

As at 1 January 2025	1,784,486	-	1,784,486

Cost or valuation as at 31 December 2025 represented by:

	Investment Properties	Fixtures & Fittings	Total
	£	£	£
At cost	-	15,427	15,427
At valuation	1,784,486	-	1,784,486

	1,784,486	15,427	1,799,913

The 2025 valuation of investment properties held were by the directors, on an open market value, existing use basis.

If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2025 - £1,784,486

2024 - £1,784,486

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	36,883	36,004
Other debtors	6,297	4,929
Amounts owed by related undertakings	35,381	48,373

	78,561	89,306

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Lancebury Estates Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	593	4,454
Corporation tax	23,101	14,297
VAT	383	292
Other creditors	2,520	3,055
Accruals and deferred income	52,754	51,570
Amounts owed to group undertakings	689,638	746,472
Amounts owed to related undertakings	-	32,304

	768,989	852,444

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	100	100

8. Related Party Transactions

Under UK GAAP, the company is exempt from the requirement to disclose transactions with wholly owned members of the same group.

During the year property management fees of £6,000 (2024: £2,400) were payable to Crest Property Management Limited.

Working capital loans were also advanced between the company and related parties from time to time.

At the balance sheet date debtors (note 5) included £35,101 (2024: £48,373) owing by Crest Property Management Limited.

At the balance sheet date creditors: amounts falling due within one year (note 6) included £Nil (2024: £32,304) owing to Crest Commercial Property Ltd.

Crest Property Management Limited and Crest Commercial Property Limited are related companies because they are also controlled by the directors or their associates.

These working capital financing loan balances are interest free and have no formal or fixed repayment terms.

9. Ultimate Controlling Party

The company's parent company and controlling party is Forward Construction and Developments Limited by virtue of it's ownership of 100% of the issued share capital in the company.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		1,784,486		1,784,486

			1,784,486		1,784,486
CURRENT ASSETS
Debtors	5	78,561		89,306
Cash at bank and in hand		3,835		5,857

		82,396		95,163
Creditors: Amounts Falling Due Within One Year	6	(768,989 )		(852,444 )

NET CURRENT ASSETS (LIABILITIES)			(686,593 )		(757,281 )

TOTAL ASSETS LESS CURRENT LIABILITIES			1,097,893		1,027,205

NET ASSETS			1,097,893		1,027,205

CAPITAL AND RESERVES
Called up share capital	7		100		100
Income Statement			1,097,793		1,027,105

SHAREHOLDERS' FUNDS			1,097,893		1,027,205