Company No:
Contents
| Note | 2026 | 2025 | ||
| £ | £ | |||
| Fixed assets | ||||
| Investment property | 3 |
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| 15,488,958 | 13,770,685 | |||
| Current assets | ||||
| Debtors | 4 |
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| Cash at bank and in hand | 5 |
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| 200,387 | 28,866 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current liabilities | (784,050) | (1,252,064) | ||
| Total assets less current liabilities | 14,704,908 | 12,518,621 | ||
| Creditors: amounts falling due after more than one year | 7 | (
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| Provision for liabilities | 8 | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 9 |
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| Revaluation reserve |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of LOT31 Properties Ltd (registered number:
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J Katz
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
LOT31 Properties Ltd (the company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 2 Lauderdale Road, London, W9 1LS, London, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets is reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
The Company only enters into basic financial instruments and 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 and from related parties and investments in non-puttable ordinary shares.
Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.
Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
| 2026 | 2025 | ||
| Number | Number | ||
| Monthly average number of persons employed by the company during the year, excluding directors |
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| Investment property | |
| £ | |
| Valuation | |
| As at 01 March 2025 |
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| Additions | 1,718,273 |
| As at 28 February 2026 |
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Historic cost
If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:
| 2026 | 2025 | ||
| £ | £ | ||
| Historic cost | 13,770,573 | 12,113,911 |
| 2026 | 2025 | ||
| £ | £ | ||
| Trade debtors |
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| Other debtors |
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| £ | £ | ||
| Cash at bank and in hand |
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| £ | £ | ||
| Amounts owed to group undertakings |
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| Amounts owed to directors |
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| Accruals and deferred income |
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| Corporation tax |
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| 2026 | 2025 | ||
| £ | £ | ||
| Bank loans (secured) |
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One on 18 August 2022. Included within bank loan is an amount of £8,589,375 less unamortised finance costs of £4,766. The interest rate is 3.59% and the loan is secured by a fixed charge until 18 August 2027 over the investment properties held. After the fixed rate period ends, the interest rate will change to a variable rate which is a margin above Investec Bank plc's Base Rate for the remainder of the mortgage term.
One on 4 November 2022, with a portion of loan part two drawn down on that date. Included within the bank loan is an amount of £772,500 less unamortised finance costs of £1,927. The balance of £1,385,625 of part two was drawn on 18 June 2025. The interest rate is 5.50% (prior year: 5.29%) and the loan is secured by a fixed charge over the investment properties held.
One on 18 June 2025, being loan part three. Included within the bank loan is an amount of £513,750 less unamortised finance cost of £29,140. The interest rate is 5.50% and the loan is secured by a fixed charge over the investment properties held.
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| At the end of financial year | (
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| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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