L & C Portfolio Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08414529

L & C Portfolio Limited

Unaudited financial statements

31 March 2026

L & C Portfolio Limited

Statement of financial position

31 March 2026

	2026		2025
Note	£	£	£	£

Fixed assets

Tangible assets	5		291,422		290,000

Current assets

Debtors	6	192	–
Cash at bank and in hand		158,406	12,292
		---------	-------
		158,598	12,292

Creditors: Amounts falling due within one year	7	( 176,454)		( 40,361)
		---------		-------
Net current liabilities			( 17,856)		( 28,069)
			---------		---------
Total assets less current liabilities			273,566		261,931

Creditors: Amounts falling due after more than one year	8		( 198,950)		( 198,950)

Provisions

Taxation including deferred tax	( 19,791)	( 16,507)
	---------	---------
Net assets	54,825	46,474
	---------	---------

Capital and reserves

Called up share capital	100	100
Freehold investment property valuation reserve	78,783	78,783
Profit and loss account	( 24,058)	( 32,409)
	-------	-------
Shareholders funds	54,825	46,474
	-------	-------

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 March 2026 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 .

L & C Portfolio Limited

Statement of financial position (continued)

31 March 2026

These financial statements were approved by the board of directors and authorised for issue on 2 November 2026 , and are signed on behalf of the board by:

M L Brown

Director

Company registration number: 08414529

L & C Portfolio Limited

Notes to the financial statements

Year ended 31 March 2026

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bullens Farm Barn, Eades Paddock, Great Barton, Bury St Edmunds, Suffolk, United Kingdom, IP31 2TY.

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 investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity and are rounded to the nearest £.

Judgements and key sources of estimation uncertainty

Estimates and judgements used in preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The resulting accounting estimates will, by definition seldom equal the related actual results. Any subsequent changes are accounted for with an effect on income at the time such updated information is available. The estimates and assumptions that have a significant effect on the carrying amounts of assets and liabilities are discussed below: Investment property valuation In applying the Company's accounting policies for investment properties carried at fair value, consideration was given to the valuation of the Company's properties at the reporting date. Further detail of the estimate has been included in the tangible assets note.

Revenue recognition

Turnover is recognised at the fair value of the consideration received or receivable in the ordinary course of business, and is shown net of Value Added Tax. Rental income is recognised on an accruals basis in line with lease terms and arises solely in the UK.

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 revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Fixtures and fittings	-	15% reducing balance

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

4. Employee numbers

The average number of employees during the year was 2 (2025: 2 ).

5. Tangible assets

	Fixtures and fittings	Investment Properties	Total
	£	£	£
Cost
At 1 April 2025	–	290,000	290,000
Additions	1,526	–	1,526
	------	---------	---------
At 31 March 2026	1,526	290,000	291,526
	------	---------	---------
Depreciation
At 1 April 2025	–	–	–
Charge for the year	104	–	104
	------	---------	---------
At 31 March 2026	104	–	104
	------	---------	---------
Carrying amount
At 31 March 2026	1,422	290,000	291,422
	------	---------	---------
At 31 March 2025	–	290,000	290,000
	------	---------	---------

The fair value of the Company's investment property at 31 March 2026 has been determined by the directors. In arriving at this valuation, the directors considered evidence of transaction prices for similar properties and other relevant data available at the reporting date. The valuation has been made on an open market value basis and reflects the directors' assessment of fair value in light of current economic conditions.

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 March 2026
Aggregate cost	191,598
Aggregate depreciation	–
	---------
Carrying value	191,598
	---------

At 31 March 2025
Aggregate cost	191,598
Aggregate depreciation	–
	---------
Carrying value	191,598
	---------

6. Debtors

	2026	2025
	£	£
Other debtors	192	–
	----	----

7. Creditors: Amounts falling due within one year

	2026	2025
	£	£
Trade creditors	170	142
Other creditors	176,284	40,219
	---------	-------
	176,454	40,361
	---------	-------

8. Creditors: Amounts falling due after more than one year

	2026	2025
	£	£
Bank loans and overdrafts	198,950	198,950
	---------	---------

The bank loans and overdrafts are secured by way of a fixed charge against the asset to which it relates. Interest is charged on the loan at 3.10% per annum. Included within creditors: amounts falling due after more than one year is an amount totalling £198,950 (2025: £198,950) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

9. Related party transactions

At the reporting date, the Company had an outstanding balance of £173,576 due to a connected company. The balance is interest-free, unsecured, and repayable on demand.