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REGISTERED NUMBER: 09308856 (England and Wales)









LOFT PRO CARDIFF LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024






LOFT PRO CARDIFF LTD (REGISTERED NUMBER: 09308856)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOFT PRO CARDIFF LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







DIRECTORS: I B Parsell
G F Edwards
M P Reardon
M P J Reardon





SECRETARY: I B Parsell





REGISTERED OFFICE: Unit 13 Robertstown Business Park
Wellington Street
Aberdare
Glamorgan
CF44 8EZ





REGISTERED NUMBER: 09308856 (England and Wales)






LOFT PRO CARDIFF LTD (REGISTERED NUMBER: 09308856)

BALANCE SHEET
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,995 6,661

CURRENT ASSETS
Stocks 67,000 -
Debtors 5 200,960 106,887
Cash at bank 200,319 346,487
468,279 453,374
CREDITORS
Amounts falling due within one year 6 304,030 320,322
NET CURRENT ASSETS 164,249 133,052
TOTAL ASSETS LESS CURRENT
LIABILITIES

169,244

139,713

CREDITORS
Amounts falling due after more than one
year

7

(13,177

)

(31,689

)

PROVISIONS FOR LIABILITIES 10 (1,249 ) (1,412 )
NET ASSETS 154,818 106,612

LOFT PRO CARDIFF LTD (REGISTERED NUMBER: 09308856)

BALANCE SHEET - continued
30 SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 11 3 3
Retained earnings 154,815 106,609
SHAREHOLDERS' FUNDS 154,818 106,612

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 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 24 June 2025 and were signed on its behalf by:





I B Parsell - Director


LOFT PRO CARDIFF LTD (REGISTERED NUMBER: 09308856)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Loft Pro Cardiff Ltd 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.

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making their assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and have considered the facilities that are available to the company along with their continued support.

At the date of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note above, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods

LOFT PRO CARDIFF LTD (REGISTERED NUMBER: 09308856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

Turnover
Sale of goods and services
Turnover is recognised at the fair value of the consideration received or receivable for the goods and services provided to the customer during the normal course of business.

When the outcome of a transaction involving the completion of contracts or rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

LOFT PRO CARDIFF LTD (REGISTERED NUMBER: 09308856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2. ACCOUNTING POLICIES - continued

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.

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realize the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortized cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If, such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 7 ) .

LOFT PRO CARDIFF LTD (REGISTERED NUMBER: 09308856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 October 2023
and 30 September 2024 9,427 6,500 15,927
DEPRECIATION
At 1 October 2023 5,964 3,302 9,266
Charge for year 866 800 1,666
At 30 September 2024 6,830 4,102 10,932
NET BOOK VALUE
At 30 September 2024 2,597 2,398 4,995
At 30 September 2023 3,463 3,198 6,661

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Trade debtors 198,416 104,343
Other debtors 2,544 2,544
200,960 106,887

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts (see note 8) 18,516 18,516
Trade creditors 119,740 158,169
Taxation and social security 149,543 139,466
Other creditors 16,231 4,171
304,030 320,322

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans (see note 8) 13,177 31,689

LOFT PRO CARDIFF LTD (REGISTERED NUMBER: 09308856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

8. LOANS

An analysis of the maturity of loans is given below:

30.9.24 30.9.23
£    £   
Amounts falling due within one year or on demand:
Bank loans 18,516 18,516

Amounts falling due between two and five years:
Bank loans - 2-5 years 13,177 31,689

9. LEASING AGREEMENTS
At 30 September 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £45,600 - (2023 - £72,625).

10. PROVISIONS FOR LIABILITIES
30.9.24 30.9.23
£    £   
Deferred tax 1,249 1,412

Deferred
tax
£   
Balance at 1 October 2023 1,412
Provided during year (163 )
Balance at 30 September 2024 1,249

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
1 Ordinary A £1 1 1
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
3 3

LOFT PRO CARDIFF LTD (REGISTERED NUMBER: 09308856)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

12. TRANSACTIONS WITH DIRECTORS

At the reporting date the company owed the directors £16,231 (2023 - £4,171) These balances are included within creditors.

The directors operate an interest free loan account with the company which is repayable on demand.