Lowen Estates Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 13897163 (England and Wales)

Lowen Estates Limited

Unaudited Financial Statements

for the Period 7 February 2022 to 31 May 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G R Newton

Ms S A Newton

REGISTERED OFFICE:

Suite One

Lowen House

Sandy Lane

Kingswood

Surrey

KT20 6ND

REGISTERED NUMBER:

13897163 (England and Wales)

ACCOUNTANTS:

Swindells LLP

Chartered Accountants

Atlantic House

8 Bell Lane

Bellbrook Industrial Estate

Uckfield

East Sussex

TN22 1QL

FIXED ASSETS

Investment property

4

700,000

CURRENT ASSETS

Debtors

5

1,248

Cash at bank

53,005

54,253

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

6

645,027

NET CURRENT LIABILITIES

(590,774

)

TOTAL ASSETS LESS CURRENT LIABILITIES

109,226

PROVISIONS FOR LIABILITIES

20,629

NET ASSETS

88,597

CAPITAL AND RESERVES

Called up share capital

7

100

Fair value reserve

8

61,886

Retained earnings

26,611

88,597

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 May 2023 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 2 November 2023 and were signed on its behalf by:

Mr G R Newton - Director

1.	STATUTORY INFORMATION

Lowen 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the period 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 period 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.

Revenue recognition

Revenue represents rent receivable from tenants and is recognised on an accruals basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

617,485

Revaluations

82,515

At 31 May 2023

700,000

NET BOOK VALUE

At 31 May 2023

700,000

The investment property was valued on a fair value basis on 31 May 2023 by the directors.

If the investment property had not been valued on a fair value basis it would have been included at the following historical cost:

2023

£

Cost

617,485

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

1,248

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Trade creditors

1,323

Taxation and social security

6,381

Other creditors

637,323

645,027

7.	CALLED UP SHARE CAPITAL

Alloted, issued and fully paid:

Number

Class

Nominal value

£

25

Ordinary A shares

1

25

25

Ordinary B shares

1

25

25

Ordinary C shares

1

25

25

Ordinary D shares

1

25

100

The following shares were allotted and fully paid for cash at par during the period:

25 Ordinary A shares of £1 each

25 Ordinary B shares of £1 each

25 Ordinary C shares of £1 each

25 Ordinary D shares of £1 each

All shares rank pari-passu in all aspects.

8.

RESERVES

Fair

value

reserve

£

Transfer of fair value gain

61,886

At 31 May 2023

61,886

9.	RELATED PARTY DISCLOSURES

During the year, the company received advances of £673,506 and repaid £49,389 from a company with common directors. At the year end, the company owed £624,117. This balance is interest free, unsecured and repayable on demand.