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Registrar

Registration number: 14982348

Lockett Flooring Limited

Unaudited Filleted Financial Statements

for the Period from 5 July 2023 to 31 July 2024

 

Lockett Flooring Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Lockett Flooring Limited

Company Information

Directors

H L T Lockett

O J Lockett

Registered office

Carpet Connections
Great Eastern Road
Sudbury
Suffolk
CO10 2TJ

Accountants

Lambert Chapman LLP
Chartered accountants
3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Lockett Flooring Limited

(Registration number: 14982348)
Balance Sheet as at 31 July 2024

Note

2024
£

Fixed assets

 

Investments

4

932,668

Creditors: Amounts falling due within one year

5

(804,792)

Net assets

 

127,876

Capital and reserves

 

Called up share capital

6

100

Retained earnings

127,776

Shareholders' funds

 

127,876

For the financial period ending 31 July 2024 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 March 2025 and signed on its behalf by:
 

H L T Lockett
Director

O J Lockett
Director

 
     
 

Lockett Flooring Limited

Notes to the Unaudited Financial Statements for the Period from 5 July 2023 to 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office and principle place of business is: Carpet Connections, Great Eastern Road, Sudbury, Suffolk, CO10 2TJ, United Kingdom.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Group accounts not prepared

Under the Companies Act 2006 S.399(2A) Lockett Flooring Limited as the parent entity are exempt from preparing consolidated financial statements as they qualify as a small group..

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of holding company services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax is recognised on temporary material differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Lockett Flooring Limited

Notes to the Unaudited Financial Statements for the Period from 5 July 2023 to 31 July 2024

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4

Investments

2024
£

Investments in subsidiaries

932,668

Subsidiaries

£

Cost or valuation

Additions

932,668

Provision

Carrying amount

At 31 July 2024

932,668

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

Subsidiary undertakings

Mersea Carpets Limited

Carpet Connections, great Eastern Road, Sudbury, UK, CO10 2TJ

England

Ordinary shares

100%

 

Lockett Flooring Limited

Notes to the Unaudited Financial Statements for the Period from 5 July 2023 to 31 July 2024

5

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Amounts owed to group undertakings

258,668

Other creditors

545,524

Accruals and deferred income

600

804,792

6

Share capital

Allotted, called up and fully paid shares

2024

No.

£

Ordinary shares of £1 each

100

100