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Registered number: 04906228
The Letting Partnership Ltd
Financial Statements
For the Period 1 March 2025 to 31 December 2025
THL Accountancy Ltd
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—7
Page 1
Statement of Financial Position
Registered number: 04906228
31 December 2025 28 February 2025
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 289,224 336,260
289,224 336,260
CURRENT ASSETS
Debtors 6 153,708 137,696
Cash at bank and in hand 811,283 626,063
964,991 763,759
Creditors: Amounts Falling Due Within One Year 7 (641,762 ) (524,752 )
NET CURRENT ASSETS (LIABILITIES) 323,229 239,007
TOTAL ASSETS LESS CURRENT LIABILITIES 612,453 575,267
Creditors: Amounts Falling Due After More Than One Year 8 (198,434 ) (235,778 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (71,672 ) (83,319 )
NET ASSETS 342,347 256,170
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Share premium account 13,500 13,500
Income Statement 327,847 241,670
SHAREHOLDERS' FUNDS 342,347 256,170
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These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr Scott Stone
Director
22/10/2026
The notes on pages 3 to 7 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
The Letting Partnership Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 04906228 . The registered office is Suite B Second Floor, 3 Liverpool Gardens, Worthing, West Sussex, BN11 1TF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
Adoption of the FRS102 amendments (Periodic Review 2024) that has revised requirements in key areas including revenue from contracts with customers, related-party disclosures, supplier finance disclosures, income tax and certain presentation and disclosure changes. Management have elected to early adopt these amendments for the period ending 28 February 2025 to align accounting with group peer reporting.
During the period, the Company changed its accounting reference date from 28 February to 31 December to align its financial reporting period with that of its parent undertaking, Lofty Inc. Accordingly, these financial statements cover the ten-month period from 1 March 2025 to 31 December 2025. The comparative amounts presented are for the twelve-month year ended 28 February 2025 and are therefore not entirely comparable with the amounts for the current period.
2.2. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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:
Leasehold straight line over the period of lease or 4 years
Fixtures & Fittings 25% on cost
Computer Equipment 25% on cost
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2.5. 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 statement of comprehensive income 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.
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 reflect 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 and deferred tax are recognised in profit or loss for the period, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the income statement as they become payable in accordance with the rules of the scheme.
2.7. Impact of the adoption of the amended lease requirements of FRS 102
As part of the early adoption of the amendments to FRS 102 (Periodic Review 2024), the Company applied the revised requirements of Section 20 Leases. Under the amended standard, most leases are recognised on the balance sheet through the recognition of a right-of-use (ROU) asset and a corresponding lease liability. This represents a significant change from the previous accounting treatment, under which operating lease commitments were generally expensed on a straight-line basis over the lease term with no balance sheet recognition.
2.8. Functional Currency
The financial statements are presented in pounds sterling (£), which is the Company's functional currency, being the currency of the primary economic environment in which it operates. All amounts are rounded to the nearest pound except where otherwise indicated.
2.9. Leases
The Company recognises a right-of-use asset and corresponding lease liability for leases in which it is the lessee, except for short-term and low-value leases. Lease liabilities are initially measured at the present value of future lease payments and subsequently adjusted for interest and payments made.
Right-of-use assets are initially measured at cost and subsequently depreciated on a straight-line basis over the lease term and reviewed for impairment. Short-term and low-value leases are expensed on a straight-line basis over the lease term.The Company recognises a right-of-use asset and corresponding lease liability for leases in which it is the lessee, except for short-term and low-value leases. Lease liabilities are initially measured at the present value of future lease payments and subsequently adjusted for interest and payments made.
Right-of-use assets are initially measured at cost and subsequently depreciated on a straight-line basis over the lease term and reviewed for impairment. Short-term and low-value leases are expensed on a straight-line basis over the lease term.
3. Average Number of Employees
Average number of employees, including directors, during the period was: 45 (2025: 41)
45 41
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4. Intangible Assets
Development Costs
£
Cost or Valuation
As at 1 March 2025 221,528
As at 31 December 2025 221,528
Amortisation
As at 1 March 2025 221,528
As at 31 December 2025 221,528
Net Book Value
As at 31 December 2025 -
As at 1 March 2025 -
Development costs are being amortised evenly over their estimated useful life of ten years.
5. Tangible Assets
Land & Property
Leasehold Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 March 2025 324,881 53,889 140,272 519,042
Additions 500 2,004 6,483 8,987
Disposals - (666 ) - (666 )
As at 31 December 2025 325,381 55,227 146,755 527,363
Depreciation
As at 1 March 2025 42,233 34,282 106,267 182,782
Provided during the period 36,948 7,236 11,393 55,577
Disposals - (220 ) - (220 )
As at 31 December 2025 79,181 41,298 117,660 238,139
Net Book Value
As at 31 December 2025 246,200 13,929 29,095 289,224
As at 1 March 2025 282,648 19,607 34,005 336,260
The land & property leasehold is a right of use (ROU) asset.
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6. Debtors
31 December 2025 28 February 2025
£ £
Due within one year
Trade debtors 25,199 16,431
Amounts owed by group undertakings 8,000 8,000
Other debtors 120,509 113,265
153,708 137,696
7. Creditors: Amounts Falling Due Within One Year
31 December 2025 28 February 2025
£ £
Trade creditors 34,721 13,982
Other lease 44,691 43,487
Other creditors 384,711 319,098
Taxation and social security 177,639 148,185
641,762 524,752
8. Creditors: Amounts Falling Due After More Than One Year
31 December 2025 28 February 2025
£ £
Leases 198,434 235,778
9. Loans
Right of Use Asset
On 25 March 2023, the Company entered into a lease for new office premises at Second Floor, 3 Liverpool Gardens. The lease term is ten years commencing 25 March 2023, with rental payments of £36,949 payable monthly advance. The lease liability was initially recognised at £321,351 using an incremental borrowing rate of 3.2%, and a right-of-use asset of £321,351 was recognised.
31 December 2025 28 February 2025
£ £
Amounts falling due within one year or on demand:
Other loans 44,691 43,487
31 December 2025 28 February 2025
£ £
Amounts falling due between one and five years:
Other loans 198,434 235,778
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11. Share Capital
31 December 2025 28 February 2025
£ £
Allotted, Called up and fully paid 1,000 1,000
12. Related Party Disclosures
During the period ended 31 December 2025, the company made payments totalling £36,408 (February 2025: £22,034) to Hijenx Limited and £20,540 (February 2025: £7,875) to Loftyworks Ltd, related parties.
Hijenx Limited and Loftyworks Ltd are considered a related party by virtue of common directorship.
The transactions were made on normal commercial terms. At the period end, nil was owed to Hijenx Limited (February 2025: £1,682) and £1,324 (February 2025: nil) was owed to Loftyworks Ltd.
During the period ended 31 December 2025, the company made sales to Loftyworks of £57,380 (February 2025: £29,282).
13. Controlling Parties
The company's ultimate controlling party is Lofty Inc. by virtue of their interest in the share capital of the company based at 45 W Buchanan St, Phoenix, AZ 85003, United States.
14. Audit Information
The auditor's report on the accounts of The Letting Partnership Ltd for the period ended 31 December 2025 was unqualified.
The auditor's report was signed by Michelle Westbury FCCA (Senior Statutory Auditor) for and on behalf of WEST & BERRY LIMITED , Statutory Auditor.
WEST & BERRY LIMITED
Nile House
Nile Street
Brighton
East Sussex
BN1 1HW
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