REGISTERED NUMBER: 08467950 (England and Wales)

Nick Lofthouse Limited

Report of the Director and

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Report of the Director

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

Mr N R Lofthouse

REGISTERED OFFICE:

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

REGISTERED NUMBER:

08467950 (England and Wales)

ACCOUNTANTS:

Salisbury & Company

Chartered Accountants

Irish Square

Upper Denbigh Road

St Asaph

Denbighshire

LL17 0RN

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

DIRECTOR

Mr N R Lofthouse held office during the whole of the period from 1 January 2024 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr N R Lofthouse - Director

4 September 2025

TURNOVER

109,823

39,816

Cost of sales

(110,049

)

(17,844

)

GROSS (LOSS)/PROFIT

(226

)

21,972

Direct costs

(5,277

)

(13,161

)

Administrative expenses

(36,132

)

(17,710

)

(41,635

)

(8,899

)

Other operating income

41,974

43,557

OPERATING PROFIT

4

339

34,658

Interest payable and similar expenses

(203

)

(34

)

PROFIT BEFORE TAXATION

136

34,624

Tax on profit

(39

)

(6,578

)

PROFIT FOR THE FINANCIAL YEAR

97

28,046

FIXED ASSETS

Tangible assets

5

1,110

1,777

CURRENT ASSETS

Stocks

-

35,000

Debtors

6

4,288

5,343

Cash at bank

803

-

5,091

40,343

CREDITORS

Amounts falling due within one year

7

5,113

41,002

NET CURRENT LIABILITIES

(22

)

(659

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,088

1,118

PROVISIONS FOR LIABILITIES

211

338

NET ASSETS

877

780

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

876

779

877

780

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 4 September 2025 and were signed by:

Mr N R Lofthouse - Director

1.	STATUTORY INFORMATION

Nick Lofthouse Limited 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

2024

2023

£

£

Depreciation - owned assets

667

1,911

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

and 31 December 2024

11,288

DEPRECIATION

At 1 January 2024

9,511

Charge for year

667

At 31 December 2024

10,178

NET BOOK VALUE

At 31 December 2024

1,110

At 31 December 2023

1,777

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

-

3,162

Other debtors

4,288

2,181

4,288

5,343

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

-

42

Trade creditors

2,095

11,638

Taxation and social security

1,618

6,627

Other creditors

1,400

22,695

5,113

41,002

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Mr N R Lofthouse

Balance outstanding at start of year

1,611

1,785

Amounts advanced

29,565

28,680

Amounts repaid

(27,080

)

(28,854

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

4,096

1,611

As at the year end an amount of £4,096 was owed by the directors to the company however this was subsequently repaid.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr N R Lofthouse.