Lakewater Properties Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05696893

LAKEWATER PROPERTIES LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2025

LAKEWATER PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6		1,100,000	1,100,000

Current assets

Debtors	7	387,361	161,090
Cash at bank and in hand		24,435	36,837
		----------	----------
		411,796	197,927

Creditors: amounts falling due within one year	8	612,766		699,677
		----------		----------
Net current liabilities			200,970	501,750
			-------------	-------------
Total assets less current liabilities			899,030	598,250

Provisions

Taxation including deferred tax	50,397	50,397
	----------	----------
Net assets	848,633	547,853
	----------	----------

LAKEWATER PROPERTIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2025

	2025		2024
Note	£	£	£

Capital and reserves

Called up share capital		100	100
Other reserves	10	391,247	391,247
Profit and loss account	10	457,286	156,506
		----------	----------
Shareholders funds		848,633	547,853
		----------	----------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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

Directors' responsibilities:

- The 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 Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 20 August 2026 , and are signed on behalf of the board by:

Z Virani

Director

Company registration number: 05696893

LAKEWATER PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Diamond House, 179-181 Lower Richmond House, Richmond, England, TW9 4LN.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

In accordance with their responsibilities, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements. For this purpose, the directors have considered the adequacy of the company's cash resources covering the period 12 months ahead of the approval of these financial statements. The directors have reasonable expectations that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis in preparing these financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Property valuations. Properties are valued annually at fair value by the directors. Fair value is ascertained through review of a number of factors to include market knowledge and market yields. There is an inevitable degree of judgement involved and value can only ultimately be reliably tested in the market itself

Revenue recognition

Turnover represents amounts receivable from gross rents charged to tenants and the invoiced value of other goods and services supplied, net of value added tax. Rents received prior to the period to which they relate are accounted for as deferred income and released to the profit & loss account in the period to which the rent relates.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. The company does not depreciate its freehold properties and although this policy is in accordance with FRS 102, it is a departure from the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors, compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation is only one of many factors reflected in the annual valuation and the amount in respect of this which might otherwise have been shown cannot be separately identified or quantified.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2024: 2 ).

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Deferred tax:

Origination and reversal of timing differences	–	2,400
	----	-------
Tax on profit	–	2,400
	----	-------

6. Tangible assets

	Land and buildings
	£
Cost
At 1 January 2025 and 31 December 2025	1,100,000
	-------------
Depreciation
At 1 January 2025 and 31 December 2025	–
	-------------
Carrying amount
At 31 December 2025	1,100,000
	-------------
At 31 December 2024	1,100,000
	-------------

Land & buildings represent freehold property. In the opinion of the directors, the carrying value of the property as at 31 December 2025,which is based on the directors' valuation, is not significantly different from the open market fair value of the property.

Tangible assets held at valuation

In respect of tangible assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

	Freehold property
	£
At 31 December 2025
Aggregate cost	667,569
Aggregate depreciation	–
	----------
Carrying value	667,569
	----------

At 31 December 2024
Aggregate cost	667,569
Aggregate depreciation	–
	----------
Carrying value	667,569
	----------

7. Debtors

	2025	2024
	£	£
Trade debtors	30,180	–
Other debtors	357,181	161,090
	----------	----------
	387,361	161,090
	----------	----------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	–	8,245
Trade creditors	–	19,378
Accruals and deferred income	342,561	431,603
Social security and other taxes	4,754	–
Other creditors	25,000	–
Amounts owed to related paries	240,451	240,451
	----------	----------
	612,766	699,677
	----------	----------

The bank loan is secured by a legal charge over the company's investment property.

9. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions	50,397	50,397
	---------	---------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	9,213	9,213
Deferred tax on revaluation of property	41,184	41,184
	---------	---------
	50,397	50,397
	---------	---------

10. Reserves

Other reserves (non-distributable) - This reserve is used to record changes in the fair value of properties, net of deferred tax. Profit and loss account - This reserve records retained earnings and accumulated losses.

11. Related party transactions

At 31 December 2025 , creditors, amounts falling due within one year, included amounts owed to related parties amounting to £240,451 (2024: £240,451), in respect of loans from shareholders with participating interests. The loans are interest free, unsecured and repayable on demand. During the year, the company received income amounting to £248,699 (2024: £nil) from related party companies. The companies are related by virtue of of the significant common influence exerted by the directors and shareholders. At 31 December 2025 , debtors included amounts due from related parties amounting to £155,000 (2024: £155,000), in respect of loans to companies under common control. The loans are interest free, unsecured and repayable on demand.