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Filleted

Registration number: 04657746

Boot of Lydstep Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2025

 

Boot of Lydstep Limited

Company Information

Company secretary

Mr J Boot

 

Boot of Lydstep Limited

(Registration number: 04657746)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

5

375,278

363,408

Current assets

 

Debtors

6

103,972

79,999

Cash at bank and in hand

 

57,651

60,148

 

161,623

140,147

Creditors: Amounts falling due within one year

7

(97,338)

(146,197)

Net current assets/(liabilities)

 

64,285

(6,050)

Total assets less current liabilities

 

439,563

357,358

Creditors: Amounts falling due after more than one year

7

(261,664)

(203,117)

Provisions for liabilities

(63,409)

(58,234)

Net assets

 

114,490

96,007

Capital and reserves

 

Called up share capital

10

10

Profit and loss account

114,480

95,997

Total equity

 

114,490

96,007

For the financial year ending 28 February 2025 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 year 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 and the option not to file the Profit and Loss Account has been taken.

 

Boot of Lydstep Limited

(Registration number: 04657746)
Balance Sheet as at 28 February 2025

Approved and authorised by the Board on 25 July 2025 and signed on its behalf by:
 

.........................................
Mr J Boot
Company secretary and director

   
     
 

Boot of Lydstep Limited

Notes to the Financial Statements for the Year Ended 28 February 2025

1

General information

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

The address of its registered office is:
Home Farm Cottage
Lydstep
Tenby
SA70 7SG

These financial statements were authorised for issue by the Board on 25 July 2025.

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Boot of Lydstep Limited

Notes to the Financial Statements for the Year Ended 28 February 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% - 33% reducing balance

Motor vehicles

15% - 25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Boot of Lydstep Limited

Notes to the Financial Statements for the Year Ended 28 February 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2024 - 11).

 

Boot of Lydstep Limited

Notes to the Financial Statements for the Year Ended 28 February 2025

4

Profit before tax

Arrived at after charging/(crediting)

2025
£

2024
£

Depreciation expense

78,019

59,447

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2024

3,529

578,505

230,595

812,629

Additions

2,816

47,095

57,761

107,672

Disposals

-

(40,825)

-

(40,825)

At 28 February 2025

6,345

584,775

288,356

879,476

Depreciation

At 1 March 2024

2,744

300,715

145,763

449,222

Charge for the year

481

47,917

29,621

78,019

Eliminated on disposal

-

(23,043)

-

(23,043)

At 28 February 2025

3,225

325,589

175,384

504,198

Carrying amount

At 28 February 2025

3,120

259,186

112,972

375,278

At 29 February 2024

786

277,790

84,832

363,408

6

Debtors

2025
£

2024
£

Trade debtors

73,372

43,495

Prepayments

506

-

Other debtors

30,094

36,504

103,972

79,999

 

Boot of Lydstep Limited

Notes to the Financial Statements for the Year Ended 28 February 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Bank loans and overdrafts

9

49,850

47,381

Trade creditors

 

8,081

56,529

Taxation and social security

 

4,792

8,358

Other related parties

10

31,991

32,057

Other creditors

 

2,624

1,872

 

97,338

146,197

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

9

261,664

203,117

8

Share capital

Allotted, called up and fully paid shares

 

2025

2024

 

No.

£

No.

£

Ordinary shares of £1 each

9

9

9

9

Ordinary A share of £1 each

1

1

1

1

 

10

10

10

10

9

Loans and borrowings

 

Boot of Lydstep Limited

Notes to the Financial Statements for the Year Ended 28 February 2025

2025
£

2024
£

Non-current loans and borrowings

Bank borrowings

24,088

29,644

HP and finance lease liabilities

237,576

173,473

261,664

203,117

2025
£

2024
£

Current loans and borrowings

Bank borrowings

5,915

5,916

HP and finance lease liabilities

43,935

41,465

49,850

47,381

10

Related party transactions

During the year 2021 the Company Loaned £50,000 to Headland Escape, a trading partnership controlled by the Directors. The loan is repayable over 9 years commencing June 2021 at an interest rate of 2%, Interest charged for the period is £757.17, Repayment of £6,312.73 has been made. Loan outstanding at the end of the the period is £30,093.25

Transactions with directors

2025

At 1 March 2024
£

Advances to director
£

Repayments by director
£

At 28 February 2025
£

Mr J Boot

Interest free loan and repayable on demand

(32,057)

42,995

(43,628)

(32,691)

 

(32,057)

42,995

(43,628)

(32,691)

       

 

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 29 February 2024
£

Mr J Boot

Interest free loan and repayable on demand

(494)

16,096

(47,660)

(32,057)

 

(494)

16,096

(47,660)

(32,057)