REGISTERED NUMBER: 04183625 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Locustworld Limited

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTORS:

R Lander

J Hudson

REGISTERED OFFICE:

Second Floor

Curzon House

24 High Street

Banstead

Surrey

SM7 2LJ

REGISTERED NUMBER:

04183625 (England and Wales)

ACCOUNTANTS:

Ascendant Partners Limited

Second Floor

Curzon House

24 High Street

Banstead

Surrey

SM7 2LJ

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Locustworld Limited for the year ended 31 March 2025 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Locustworld Limited, as a body, in accordance with the terms of our engagement letter dated 22 August 2017. Our work has been undertaken solely to prepare for your approval the financial statements of Locustworld Limited and state those matters that we have agreed to state to the Board of Directors of Locustworld Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Locustworld Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Locustworld 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 Locustworld Limited. You consider that Locustworld Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Locustworld 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.

Ascendant Partners Limited

Second Floor

Curzon House

24 High Street

Banstead

Surrey

SM7 2LJ

10 September 2025

FIXED ASSETS

Property, plant and equipment

4

656

1,631

656

1,631

CURRENT ASSETS

Inventories

5,400

1,250

Debtors

5

3,373

-

Cash at bank and in hand

131,566

172,106

140,339

173,356

CREDITORS

Amounts falling due within one year

6

22,613

36,201

NET CURRENT ASSETS

117,726

137,155

TOTAL ASSETS LESS CURRENT LIABILITIES

118,382

138,786

PROVISIONS FOR LIABILITIES

7

125

310

NET ASSETS

118,257

138,476

CAPITAL AND RESERVES

Called up share capital

730

730

Share premium

99,945

99,945

Retained earnings

17,582

37,801

SHAREHOLDERS' FUNDS

118,257

138,476

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 Statement of Comprehensive Income 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:

R Lander - Director

1.	STATUTORY INFORMATION

Locustworld 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The preparation of the financial statements requires the directors to make an assessment of the entity's ability to continue as a going concern. The directors have reviewed the position and have concluded that it remains appropriate to prepare these financial statements on a going concern basis.

Revenue

Revenue represents the sale of goods and provision of services, excluding value added tax. The sale of goods is recognised on the date of despatch and the sale of services is recognised in the period to which they relate.

Tangible fixed assets

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

Fixtures and fittings

-

25% per annum on reducing balance

Computer equipment

-

25% per annum on cost

Stocks

Inventories 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 4 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

1,450

3,262

4,712

DEPRECIATION

At 1 April 2024

804

2,277

3,081

Charge for year

162

813

975

At 31 March 2025

966

3,090

4,056

NET BOOK VALUE

At 31 March 2025

484

172

656

At 31 March 2024

646

985

1,631

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Corporation tax

2,971

-

Prepayments

402

-

3,373

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

1,881

2,878

Amounts owed to group undertakings

11,694

11,784

Corporation tax

150

976

Social security and other taxes

4,715

6,229

Other creditors

-

4,993

Directors' current accounts

2,130

3,791

Accrued expenses

2,043

5,550

22,613

36,201

7.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

Accelerated capital allowances

125

310

Deferred

tax

£

Balance at 1 April 2024

310

Credit to Income Statement during year

(185

)

Balance at 31 March 2025

125

8.	RELATED PARTY DISCLOSURES

Locustworld Holdings Limited owns both Locustworld Limited and Locustworld Bissau SARL. During the year under review the company paid licence fees of £33,100 (2024: £50,900) and made sales of £30,900 (2024: £48,900) to Locustworld Holdings Limited.

At the balance sheet date, the amounts outstanding were as follows:

2025

2024

Due from

Due to

Due from

Due to

£

£

£

£

Locustworld Bissau, SARL

-

10,380

-

10,380

Locustworld Holdings Limited

-

1,314

-

1,404

-

11,694

-

11,784

9.	ULTIMATE CONTROLLING PARTY

The company is a wholly-owned subsidiary of Locustworld Holdings Limited, which is controlled by R Lander and J Hudson. Locustworld Holdings Limited registered office address is Second Floor, Curzon House, 24 High St, Banstead SM7 2LJ.