REGISTERED NUMBER: 05065287 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

LOBB BROTHERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

B F Lobb

Mrs V M Lobb

G S Lobb

SECRETARY:

B F Lobb

REGISTERED OFFICE:

Carnego Lane

Summercourt

Newquay

Cornwall

TR8 5DP

REGISTERED NUMBER:

05065287 (England and Wales)

ACCOUNTANTS:

Whitakers

Chartered Accountants

Bryndon House

5/7 Berry Road

Newquay

Cornwall

TR7 1AD

FIXED ASSETS

Tangible assets

4

145,718

215,240

CURRENT ASSETS

Stocks

5,000

6,500

Debtors

5

103,688

145,057

108,688

151,557

CREDITORS

Amounts falling due within one year

6

500,629

455,563

NET CURRENT LIABILITIES

(391,941

)

(304,006

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(246,223

)

(88,766

)

CREDITORS

Amounts falling due after more than one year

7

-

(7,770

)

PROVISIONS FOR LIABILITIES

(36,430

)

(53,807

)

NET LIABILITIES

(282,653

)

(150,343

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(282,753

)

(150,443

)

SHAREHOLDERS' FUNDS

(282,653

)

(150,343

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2025 and were signed on its behalf by:

B F Lobb - Director

1.	STATUTORY INFORMATION

Lobb Brothers 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on reducing balance

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2024 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Computer

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

13,307

477,861

27,108

2,318

520,594

Additions

-

3,750

14,000

-

17,750

Disposals

-

(79,356

)

(20,100

)

(666

)

(100,122

)

At 31 March 2025

13,307

402,255

21,008

1,652

438,222

DEPRECIATION

At 1 April 2024

-

283,620

19,756

1,978

305,354

Charge for year

-

22,468

1,621

66

24,155

Eliminated on disposal

-

(31,145

)

(5,204

)

(656

)

(37,005

)

At 31 March 2025

-

274,943

16,173

1,388

292,504

NET BOOK VALUE

At 31 March 2025

13,307

127,312

4,835

264

145,718

At 31 March 2024

13,307

194,241

7,352

340

215,240

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2024

143,750

-

143,750

Additions

-

14,000

14,000

Disposals

(30,250

)

(14,000

)

(44,250

)

Transfer to ownership

(77,500

)

-

(77,500

)

At 31 March 2025

36,000

-

36,000

DEPRECIATION

At 1 April 2024

69,127

-

69,127

Charge for year

3,317

10

3,327

Eliminated on disposal

(11,673

)

(10

)

(11,683

)

Transfer to ownership

(43,563

)

-

(43,563

)

At 31 March 2025

17,208

-

17,208

NET BOOK VALUE

At 31 March 2025

18,792

-

18,792

At 31 March 2024

74,623

-

74,623

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

70,861

108,759

Other debtors

3,434

-

Prepayments and accrued income

29,393

36,298

103,688

145,057

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

92,355

48,671

Hire purchase contracts

7,770

16,197

Trade creditors

84,836

86,540

Corporation tax

-

3,434

Social security and other taxes

15,111

27,510

Other creditors

3,358

4,403

Directors' current accounts

297,031

268,724

Accrued expenses

168

84

500,629

455,563

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts

-

7,770

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Hire purchase contracts

7,770

23,967

9.	ULTIMATE CONTROLLING PARTY

During the period the company was controlled by its directors, Mr B F Lobb, Mrs V M Lobb and Mr G S Lobb, by virtue of the fact that, between them, they own 100% of the company's issued ordinary share capital.