LOBSTERNET LIMITED

Company Registration Number:
08804929 (England and Wales)

Unaudited abridged accounts for the year ended 31 March 2025

Period of accounts

Start date: 01 April 2024

End date: 31 March 2025

LOBSTERNET LIMITED

Contents of the Financial Statements

for the Period Ended 31 March 2025

Balance sheet
Notes

LOBSTERNET LIMITED

Balance sheet

As at 31 March 2025


Notes

2025

2024


£

£
Fixed assets
Tangible assets: 3 43,034 57,379
Investments: 4 57,500 50,000
Total fixed assets: 100,534 107,379
Current assets
Stocks: 50,135 136,000
Debtors:   176,355 206,987
Cash at bank and in hand: 437,226 554,016
Total current assets: 663,716 897,003
Creditors: amounts falling due within one year:   (154,096) (391,721)
Net current assets (liabilities): 509,620 505,282
Total assets less current liabilities: 610,154 612,661
Creditors: amounts falling due after more than one year:   (667) (11,667)
Total net assets (liabilities): 609,487 600,994
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 609,486 600,993
Shareholders funds: 609,487 600,994

The notes form part of these financial statements

LOBSTERNET LIMITED

Balance sheet statements

For the year ending 31 March 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 22 May 2025
and signed on behalf of the board by:

Name: M Farmer
Status: Director

The notes form part of these financial statements

LOBSTERNET LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2025

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the

Tangible fixed assets and depreciation policy

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount. Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: Plant and machinery 25% reducing balance

Other accounting policies

FIXED ASSET INVESTMENTS Investments in subsidiaries, associates and joint ventures accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in subsidiaries, associates and joint ventures accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income or profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition. Other fixed asset investments which are listed are measured at fair value with changes in fair value being recognised in profit or loss. All other Investments held as fixed assets are initially recorded at cost, and are subsequently stated at cost less any accumulated impairment losses. IMPAIRMENT A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. STOCKS Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. FINANCIAL INSTRUMENTS A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. DEFINED CONTRIBUTION PENSION PLAN Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

LOBSTERNET LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2025

2. Employees

2025 2024
Average number of employees during the period 5 4

LOBSTERNET LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2025

3. Tangible Assets

Total
Cost £
At 01 April 2024 105,157
Additions 13,800
Disposals (13,800)
At 31 March 2025 105,157
Depreciation
At 01 April 2024 47,778
Charge for year 14,345
At 31 March 2025 62,123
Net book value
At 31 March 2025 43,034
At 31 March 2024 57,379

LOBSTERNET LIMITED

Notes to the Financial Statements

for the Period Ended 31 March 2025

4. Fixed investments

Investments Other investments other than loans £ Cost At 1 April 2024 50,000 Additions 7,500 At 31 March 2025 57,500 Impairment At 1 April 2024 and 31 March 2025 - Carrying amount At 31 March 2025 57,500 At 31 March 2024 50,000