| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 March 2026 |
| for |
| LAC Property Limited |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 March 2026 |
| for |
| LAC Property Limited |
| LAC Property Limited (Registered number: 10009121) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2026 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| LAC Property Limited |
| Company Information |
| for the Year Ended 31 March 2026 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chancery House |
| 30 St Johns Road |
| Woking |
| Surrey |
| GU21 7SA |
| LAC Property Limited (Registered number: 10009121) |
| Statement of Financial Position |
| 31 March 2026 |
| 31/3/26 | 31/3/25 |
| Notes | £ | £ |
| FIXED ASSETS |
| Property, plant and equipment | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 | ( |
) | ( |
) |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Fair value reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| LAC Property Limited (Registered number: 10009121) |
| Statement of Financial Position - continued |
| 31 March 2026 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| LAC Property Limited (Registered number: 10009121) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2026 |
| 1. | STATUTORY INFORMATION |
| LAC Property Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| In assessing the ability of the Company to continue to trade as a going concern, the directors have considered the Company's deficiency of net current assets. Included within current liabilities is a loan of £3,569,346 (2025 - £3,960,886) owed to a related party, LiveIn Quarters Limited. Although due on demand, the directors are of the view that demand for repayment for this amount will not be made whilst the Company is in need of the funds to meet its obligations as they fall due. The directors therefore consider it appropriate to prepare the financial statements on a going concern basis. |
| Turnover |
| Turnover represents rent received from investment properties, excluding value added tax. Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| Investment property |
| Investment properties are valued at fair value at each reporting date, with gains or losses recognised in the profit and loss account. Properties are revalued annually using an open market valuation basis. Material deferred tax is provided on these gains at the rate expected to apply when the property is sold. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| LAC Property Limited (Registered number: 10009121) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 3. | ACCOUNTING POLICIES - continued |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | PROPERTY, PLANT AND EQUIPMENT |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| Cost |
| At 1 April 2025 |
| Additions |
| At 31 March 2026 |
| Depreciation |
| At 1 April 2025 |
| Charge for year |
| At 31 March 2026 |
| Net book value |
| At 31 March 2026 |
| At 31 March 2025 |
| LAC Property Limited (Registered number: 10009121) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| Fair value |
| At 1 April 2025 |
| and 31 March 2026 |
| Net book value |
| At 31 March 2026 |
| At 31 March 2025 |
| Fair value at 31 March 2026 is represented by: |
| £ |
| Valuation in 2017 | 3,697,857 |
| Valuation in 2019 | (2,323,585 | ) |
| Valuation in 2021 | 1,557,082 |
| Valuation in 2024 | 1,295,582 |
| Cost | 35,574,117 |
| 39,801,053 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 31/3/26 | 31/3/25 |
| £ | £ |
| Cost | 35,574,117 | 35,574,117 |
| Investment property was valued on an open market basis on 31 March 2026 by the Directors . |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/3/26 | 31/3/25 |
| £ | £ |
| Amounts owed by group undertakings |
| Amounts owed by associates |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/3/26 | 31/3/25 |
| £ | £ |
| Trade creditors |
| Amounts owed to associates | 3,991,813 | 4,372,473 |
| Taxation and social security |
| Other creditors |
| LAC Property Limited (Registered number: 10009121) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31/3/26 | 31/3/25 |
| £ | £ |
| Bank loans |
| 10. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 31/3/26 | 31/3/25 |
| £ | £ |
| Within one year |
| Between one and five years |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31/3/26 | 31/3/25 |
| £ | £ |
| Loan facility | 33,750,000 | 33,750,000 |
| Arbuthnot Latham & Co. Limited hold a fixed charges over all of the company's investment properties in respect of a facility agreement provided to LAC Property Limited. |