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Registered number: 11401741
LOWER MARSH PROPERTIES LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2026
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LOWER MARSH PROPERTIES LIMITED
REGISTERED NUMBER: 11401741
BALANCE SHEET
AS AT 31 MARCH 2026
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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LOWER MARSH PROPERTIES LIMITED
REGISTERED NUMBER: 11401741
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2026
The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
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.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 7 September 2026.
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A Lawee
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A A Lawee
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................................................
R W Lawee
Director
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The notes on pages 3 to 9 form part of these financial statements.
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LOWER MARSH PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
Lower Marsh Properties Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is Midas, 198 West End Lane, London, NW6 1SG.
The company's principal activity is that of the provision of hotel and similar accommodation. The company operates the hotel through a wholly owned subsidiary.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound sterling.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 following principal accounting policies have been applied:
Revenue 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, value added tax and other sales taxes.
Interest income is recognised in profit or loss using the effective interest method.
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
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LOWER MARSH PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
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 values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Freehold property is carried at fair value determined annually by the directors, informed by professional valuations and derived from the current market rents and freehold property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.
Investments in subsidiaries are measured at cost less accumulated impairment.
Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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LOWER MARSH PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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The average monthly number of employees, including directors, during the year was 3 (2025 - 3).
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Interest payable and similar expenses
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Charge for the year on owned assets
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LOWER MARSH PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Investments in subsidiary companies
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The following was a subsidiary undertaking of the Company:
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Midas, 198 West End Lane, London, NW6 1SG.
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The aggregate of the share capital and reserves as at 31 March 2026 and the profit or loss for the year ended on that date for the subsidiary undertaking were as follows:
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Aggregate of share capital and reserves
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LOWER MARSH PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Annual revaluation surplus:
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The 2026 valuations were made by the directors based upon advice from professional valuers, on an open market value basis.
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Amounts owed by connected companies
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Amounts owed to connected companies
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Accruals and deferred income
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LOWER MARSH PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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Creditors: Amounts falling due after more than one year
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The bank loan is secured by a legal mortgage over the freehold property, a debenture over the assets of the company, a cross guarantee by the three associated companies (see note 15 below) and a personal guarantee by the three directors.
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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LOWER MARSH PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2026
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The provision for deferred taxation is made up as follows:
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Deferred taxation on revaluation of property
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Profit and loss account
Of the retained profits of £7,374,863 (2025: £7,377,436) an amount of £7,183,255 (2025: £7,183,255) relates to revaluation surpluses which do not form part of the distributable reserves of the company.
The company is party to cross guarantees in favour of its bankers alongside Bridgeriver Limited, Abbey One Holdings Limited, Abbey One Hotels Limited and Boka Consultants Limited, which are companies under similar ownership and control. Each company has provided guarantees and security in the form its properties to the bank. As such, the company may become liable for the debts of any of these companies due to the bankers. At the balance sheet date the total bank indebtedness secured on these cross guarantees was £20.8m (2025: £21.1m).
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Related party transactions
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At the balance sheet date, the company owed £1,612,893 (2025: £1,815,693) to A Lawee, A A Lawee and R Lawee who are directors of the company. The loan is free from interest and is repayable on demand.
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