REGISTERED NUMBER: 00581350 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Loromah Estates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr F Napolitano

Miss Louisa Napolitano

Ms Maria Turner

Ms Lissa Napolitano

SECRETARY:

Ms Lissa Napolitano

REGISTERED OFFICE:

94 Richmond Avenue

Islington

London

N1 0LU

REGISTERED NUMBER:

00581350 (England and Wales)

ACCOUNTANTS:

BBK Partnership Limited

Chartered Accountants

Suite 2C, Brosnan House

175 Darkes Lane

Potters Bar

Hertfordshire

EN6 1BW

FIXED ASSETS

Tangible assets

4

69,989,558

69,170,972

CURRENT ASSETS

Debtors

5

52,526

53,368

Cash at bank and in hand

725,078

713,632

777,604

767,000

CREDITORS

Amounts falling due within one year

6

6,789,151

6,739,635

NET CURRENT LIABILITIES

(6,011,547

)

(5,972,635

)

TOTAL ASSETS LESS CURRENT LIABILITIES

63,978,011

63,198,337

CREDITORS

Amounts falling due after more than one year

7

(21,000,000

)

(21,000,000

)

PROVISIONS FOR LIABILITIES

9

(3,800,000

)

(3,800,000

)

NET ASSETS

39,178,011

38,398,337

CAPITAL AND RESERVES

Called up share capital

16,000

16,000

Investment property

revaluation reserve

10

24,202,299

24,202,299

Retained earnings

14,959,712

14,180,038

39,178,011

38,398,337

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 November 2025 and were signed on its behalf by:

Ms Lissa Napolitano - Director

1.	STATUTORY INFORMATION

Loromah Estates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Investment properties

Investment properties are carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Investment

and

Motor

Computer

properties

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST OR VALUATION

At 1 April 2024

68,724,430

2,224,371

49,727

37,426

71,035,954

Additions

907,717

-

-

1,488

909,205

At 31 March 2025

69,632,147

2,224,371

49,727

38,914

71,945,159

DEPRECIATION

At 1 April 2024

-

1,796,607

35,467

32,908

1,864,982

Charge for year

-

85,553

3,565

1,501

90,619

At 31 March 2025

-

1,882,160

39,032

34,409

1,955,601

NET BOOK VALUE

At 31 March 2025

69,632,147

342,211

10,695

4,505

69,989,558

At 31 March 2024

68,724,430

427,764

14,260

4,518

69,170,972

Cost or valuation at 31 March 2025 is represented by:

Fixtures

Investment

and

Motor

Computer

properties

fittings

vehicles

equipment

Totals

£

£

£

£

£

Valuation in 2009

21,383,729

-

-

-

21,383,729

Valuation in 2012

6,618,570

-

-

-

6,618,570

Cost

41,629,848

2,224,371

49,727

38,914

43,942,860

69,632,147

2,224,371

49,727

38,914

71,945,159

If Investment properties had not been revalued they would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

41,629,848

40,722,131

Investment properties were valued on an open market basis basis on 31 March 2025 by the directors .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Prepayments

52,526

53,368

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Sundry loans

5,329,304

5,329,304

Tax

271,827

189,300

Social security and other taxes

67,396

61,725

Tenants deposits

677,608

629,264

Directors' current accounts

717

717

Other creditors & accruals

442,299

529,325

6,789,151

6,739,635

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 2-5 years

21,000,000

21,000,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

21,000,000

21,000,000

The bank loans are secured by way of a fixed charge over various Investment properties.

9.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

3,800,000

3,800,000

Deferred

tax

£

Balance at 1 April 2024

3,800,000

Balance at 31 March 2025

3,800,000

10.

RESERVES

Investment

property

revaluation

reserve

£

At 1 April 2024

and 31 March 2025

24,202,299

11.	ULTIMATE CONTROLLING PARTY

The company was controlled by the directors throughout this year and the previous year.

12.	RELATED PARTY DISCLOSURES

Sundry loans include:

Loan in the sum of £1,329,304 (2023: £1,329,304) from RPN Finance Limited , a company which was under the control of Mrs R P Napolitano with no due date for repayment . Interest incurred on this loan at commercial rates during the year amounted to £102,320 (2024: £103,649). Mrs R P Napolitano was a director of Loromah Estates Limited.