Company registration number 07126900 (England and Wales)
LATHAM BROS HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
LATHAM BROS HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
LATHAM BROS HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
FIXED ASSETS
Investments
3
357,850
332,957
CURRENT ASSETS
Debtors
4
5,683
27,024
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
5
(360,686)
(356,063)
NET CURRENT LIABILITIES
(355,003)
(329,039)
NET ASSETS
2,847
3,918
CAPITAL AND RESERVES
Called up share capital
1,000
1,000
Profit and loss reserves
1,847
2,918
TOTAL EQUITY
2,847
3,918
For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
LATHAM BROS HOLDINGS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 22 July 2025 and are signed on its behalf by:
Mr G A Latham
Director
Company registration number 07126900 (England and Wales)
LATHAM BROS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
1
ACCOUNTING POLICIES
Company information
Latham Bros Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Canton House, 435-451 Cowbridge Road East, Canton, Cardiff, CF5 1JH.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet 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 realise the asset and settle the liability simultaneously.
LATHAM BROS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
ACCOUNTING POLICIES
(Continued)
- 4 -
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
EMPLOYEES
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
FIXED ASSET INVESTMENTS
2024
2023
£
£
Other investments other than loans
357,850
332,957
LATHAM BROS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
3
FIXED ASSET INVESTMENTS
(Continued)
- 5 -
MOVEMENTS IN FIXED ASSET INVESTMENTS
Investments
£
Cost or valuation
At 1 November 2023
332,957
Additions
24,893
At 31 October 2024
357,850
Carrying amount
At 31 October 2024
357,850
At 31 October 2023
332,957
4
DEBTORS
2024
2023
Amounts falling due within one year:
£
£
Other debtors
4,625
27,024
Deferred tax asset
1,058
5,683
27,024
5
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
£
£
Amounts owed to group undertakings
319,327
336,915
Other creditors
41,359
19,148
360,686
356,063
6
RELATED PARTY TRANSACTIONS
In accordance with FRS 102, transactions with companies that are wholly owned members within the group are not disclosed.
LATHAM BROS HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 6 -
7
DIRECTORS' TRANSACTIONS
Included within other creditors is a balance of £38,909 (2023 - debtor £5,651) due to directors.
These balances are interest free and repayable on demand,
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
-
5,651
19,440
(64,000)
(38,909)
5,651
19,440
(64,000)
(38,909)