Silverfin false false 31/03/2025 01/04/2024 31/03/2025 Mr J A Goble Mrs S L Hodgson 07 August 2025 The principal activity of the Company is the sale of ladders and stairs to both domestic and commercial markets. 06545150 2025-03-31 06545150 2024-03-31 06545150 core:CurrentFinancialInstruments 2025-03-31 06545150 core:CurrentFinancialInstruments 2024-03-31 06545150 core:ShareCapital 2025-03-31 06545150 core:ShareCapital 2024-03-31 06545150 core:RetainedEarningsAccumulatedLosses 2025-03-31 06545150 core:RetainedEarningsAccumulatedLosses 2024-03-31 06545150 core:PlantMachinery 2024-03-31 06545150 core:PlantMachinery 2025-03-31 06545150 2024-04-01 2025-03-31 06545150 bus:FilletedAccounts 2024-04-01 2025-03-31 06545150 bus:SmallEntities 2024-04-01 2025-03-31 06545150 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 06545150 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 06545150 bus:Director1 2024-04-01 2025-03-31 06545150 bus:Director2 2024-04-01 2025-03-31 06545150 core:PlantMachinery core:TopRangeValue 2024-04-01 2025-03-31 06545150 core:PlantMachinery 2024-04-01 2025-03-31 06545150 2023-04-01 2024-03-31 06545150 core:CurrentFinancialInstruments 2024-04-01 2025-03-31 06545150 1 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Company No: 06545150 (England and Wales)

LOFT CENTRE PRODUCTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

LOFT CENTRE PRODUCTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

LOFT CENTRE PRODUCTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2025
LOFT CENTRE PRODUCTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2025
Directors Mr J A Goble
Mrs S L Hodgson
Secretary Mr J A Goble
Registered office 9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
United Kingdom
Business address Units C & D Ford Lane Industrial Estate
Ford
Arundel
West Sussex
BN18 0DF
Company number 06545150 (England and Wales)
Accountant Kreston Reeves LLP
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LOFT CENTRE PRODUCTS LIMITED

For the financial year ended 31 March 2025

ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF
THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LOFT CENTRE PRODUCTS LIMITED (continued)

For the financial year ended 31 March 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Loft Centre Products Limited for the financial year ended 31 March 2025 which comprise the Balance Sheet and the related notes 1 to 8 from the Company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/regulation.

It is your duty to ensure that Loft Centre Products Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Loft Centre Products Limited. You consider that Loft Centre Products Limited is exempt from the statutory audit requirement for the financial year.

We have not been instructed to carry out an audit or a review of the financial statements of Loft Centre Products Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

This report is made solely to the Board of Directors of Loft Centre Products Limited, as a body, in accordance with the terms of our engagement letter dated 17 May 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Loft Centre Products Limited and state those matters that we have agreed to state to the Board of Directors of Loft Centre Products Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Loft Centre Products Limited and its Board of Directors as a body for our work or for this report.

Kreston Reeves LLP
Chartered Accountants

9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ

15 August 2025

LOFT CENTRE PRODUCTS LIMITED

BALANCE SHEET

As at 31 March 2025
LOFT CENTRE PRODUCTS LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 451 899
451 899
Current assets
Stocks 42,800 62,205
Debtors 4 31,195 30,429
Cash at bank and in hand 5 151,903 190,506
225,898 283,140
Creditors: amounts falling due within one year 6 ( 82,815) ( 104,104)
Net current assets 143,083 179,036
Total assets less current liabilities 143,534 179,935
Net assets 143,534 179,935
Capital and reserves
Called-up share capital 100 100
Profit and loss account 143,434 179,835
Total shareholder's funds 143,534 179,935

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

Directors' responsibilities:

The financial statements of Loft Centre Products Limited (registered number: 06545150) were approved and authorised for issue by the Board of Directors on 07 August 2025. They were signed on its behalf by:

Mrs S L Hodgson
Director
LOFT CENTRE PRODUCTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
LOFT CENTRE PRODUCTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Loft Centre Products Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 9 Donnington Park, 85 Birdham Road, Chichester, West Sussex, PO20 7AJ, United Kingdom. The principal place of business is Units C & D Ford Lane Industrial Estate, Ford, Arundel, West Sussex, BN18 0DF.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 4 years straight line
25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Plant and machinery Total
£ £
Cost
At 01 April 2024 10,769 10,769
At 31 March 2025 10,769 10,769
Accumulated depreciation
At 01 April 2024 9,870 9,870
Charge for the financial year 449 449
At 31 March 2025 10,318 10,318
Net book value
At 31 March 2025 451 451
At 31 March 2024 899 899

4. Debtors

2025 2024
£ £
Trade debtors 16,462 10,440
Prepayments 9,420 16,100
Other debtors 5,313 3,889
31,195 30,429

5. Cash and cash equivalents

2025 2024
£ £
Cash at bank and in hand 151,903 190,506

6. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 18,413 19,096
Amounts owed to Group undertakings 9,750 9,201
Amounts owed to directors 1,827 1,827
Accruals 6,563 6,287
Corporation tax 0 2,326
Other taxation and social security 16,406 20,293
Other creditors 29,856 45,074
82,815 104,104

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

7. Related party transactions

A Company under common control
During the year the Company was recharged administration expenses of £31,449 (2024 - £32,142) with a Company under common control. At the balance sheet date, the amount due to the company under common control was £9,750 (2024 - £9,201).

8. Ultimate controlling party

The Company is controlled by its parent company, Myrtle Tree Estates Limited, a company incorporated in England and Wales. Myrtle Tree Estates Limited's registered office is 9 Donnington Park, 85 Birdham Road, Chichester, West Sussex, PO20 7AJ.