ACCOUNTS - Final Accounts

Creditors: Amounts falling due within one year

Unaudited
28 February

Registered number: 11841430

LPB HOMES LIMITED

FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2025

LPB HOMES LIMITED

REGISTERED NUMBER: 11841430

BALANCE SHEET

AS AT 31 OCTOBER 2025

	31 October	As Restated Unaudited 28 February
	2025	2025
Note	£	£


Current assets
Stocks		6,526,250		6,422,198
Debtors: amounts falling due within one year	4	781,915		586,807
Cash at bank and in hand		799		1,172
		7,308,964		7,010,177
Creditors: amounts falling due within one year	5	(7,855,830)		(7,485,034)
Total assets less current liabilities			(546,866)		(474,857)

Net liabilities			(546,866)		(474,857)

Capital and reserves
Called up share capital	200	200
Profit and loss account	(547,066)	(475,057)
	(546,866)	(474,857)

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 income and retained earnings 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 by:

H Carter

Director

Date: 14 October 2026

The notes on pages 2 to 6 form part of these financial statements.

Page 1

LPB HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2025

1.	General information

LPB Homes Limited ("the Company") is a private Company limited by shares and incorporated in England and Wales. The address of the registered office is Leytonstone House, 3 Hanbury Drive, Leytonstone, London, E11 1GA.

2.Accounting policies

2.1

Basis of preparation of financial statements

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 requirements 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:

2.2

Going concern

As part of its going concern review, the directors have followed the guidelines published by the financial Reporting Council entitled "Guidance on the Going Concern Basis of Accounting and Reporting on Solvency and Liquidity Risks 2025". The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future as the Company expects to receive continuing financial support from a related entity, connected to the Company by virtue of ownership and which is the largest creditor at the year end. On this basis the directors consider that the going concern basis of accounting remains appropriate.

2.3

Change of reporting date

During the period, the Company changed its financial reporting year end date from 28 February to 31 October to align with its ultimate parent undertaking’s financial reporting period following a group restructure. As a result, the current financial period covers 8 months. The comparative figures, which cover a 12 month period, are therefore not directly comparable.

2.4

Revenue

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. The following criteria must also be met before revenue is recognised:

Rental income

Rental income from operating leases is recognised on a straight line basis over the term of the lease.

Property sales

Income is generated through the sale of land and buildings held within stock. Revenue is recognised upon completion of the sale.

Page 2

LPB HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2025

2.Accounting policies (continued)

2.5

Finance costs

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.

2.6

Stocks

Stocks consist of work in progress being the development of properties held for sale.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of income and retained earnings.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment.

2.8

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 24 hours.

2.9

Creditors

Short-term creditors are measured at the transaction price.

2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Page 3

LPB HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2025

2.Accounting policies (continued)

2.10

Financial instruments (continued)

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Employees

The average monthly number of employees, including directors, during the year was 2 (28 February 2025 - 2).

Debtors

					31 October	As Restated Unaudited 28 February
					2025	2025
					£	£


Trade debtors	2,000	-
Other debtors	352,923	281,606
Prepayments and accrued income	426,992	305,201
	781,915	586,807

Page 4

LPB HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2025

Trade creditors	52,778	93,908
Other creditors	7,799,700	7,390,077
Accruals and deferred income	3,352	1,049
	7,855,830	7,485,034

Allotted, called up and fully paid

200 (28 February 2025 - 200) Ordinary shares of £1.00 each	200	200

7.	Prior period adjustment

The prior period prepayment balance has been restated for amounts that should have been classified as stock.

The effect of the prior period adjustment is to decrease prepayments by £149,000 and increase stock by £149,000, as at 28 February 2025. There was no impact on the statement of comprehensive income in the prior period.

8.	Contingent asset

In a prior period, a property held for development in stock was damaged by a fire. A claim was made to the benefit of the Company which was under review at the reporting date. Post year end, a decision was concluded to award the claim in favour of the Company. The financial effect is currently subject to a final settlement agreement.

9.	Related party transactions
	The Company is exempt from disclosing transactions with related parties under FRS 102 Section 1A, as these were conducted under normal commercial terms.

Page 5

LPB HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 OCTOBER 2025

10.	Auditor's information

The auditor's report on the financial statements for the period ended 31 October 2025 was unqualified.

The audit report was signed on 21 October 2026 by Andrew Barnes (Senior statutory auditor) on behalf of Barnes Roffe Audit Limited.

Page 6