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Registration number: 11623584

Latham & Taylor Ltd
Unaudited Financial Statements
for the Year Ended 30 December 2024

Latham & Taylor Ltd

Contents

Statement of Financial Position | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 6

Latham & Taylor Ltd

(Registration number: 11623584)
Statement of Financial Position as at 30 December 2024

| Note | 2024 £ | 2023 £
Fixed assets |  |  |
Tangible assets | 4 | 883 | 2,095
Current assets |  |  |
Stocks | 5 | 44,300 | 38,825
Debtors | 6 | 3,670 | 2,070
Cash at bank and in hand |  | 11,713 | 8,946
|  | 59,683 | 49,841
Creditors: Amounts falling due within one year | 7 | (193,620) | (174,278)
Net current liabilities |  | (133,937) | (124,437)
Total assets less current liabilities |  | (133,054) | (122,342)
Creditors: Amounts falling due after more than one year | 7 | (10,048) | (11,984)
Net liabilities |  | (143,102) | (134,326)
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | (143,202) | (134,426)
Shareholders' deficit |  | (143,102) | (134,326)

Latham & Taylor Ltd

(Registration number: 11623584)
Statement of Financial Position as at 30 December 2024

For the financial year ending 30 December 2024 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 29 September 2025 and signed on its behalf by:

......................................... Mr SA Taylor Director |  |

Latham & Taylor Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

1 | General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
The Old Vicarage Rock Lane
Tockholes
Darwen
Lancashire
BB3 0LX
United Kingdom

These financial statements were authorised for issue by the Board on 29 September 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. The company has a net deficit of £143,102 as at 31 December 2024. The company is supported by the directors and shareholders who have provided, and will continue to provide, the financial support necessary to the company to enable it to continue to meet it's liabilities as they fall due.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the opinion of the directors there are no critical accounting judgments.

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.

Latham & Taylor Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

Tangible assets

Tangible assets are stated in the statement of financial position 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
Computer equipment | 20% straight line
Motor vehicles | 25% straight line
Exhibition equipment | 33.33% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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 income statement 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.

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Latham & Taylor Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

4 | Tangible assets

| Exhibition expenses £ | Computer equipment £ | Motor vehicles £ | Total £
Cost or valuation
At 31 December 2023 | 19,958 | 4,038 | 31,667 | 55,663
At 30 December 2024 | 19,958 | 4,038 | 31,667 | 55,663
Depreciation
At 31 December 2023 | 19,557 | 2,344 | 31,667 | 53,568
Charge for the year | 401 | 811 | - | 1,212
At 30 December 2024 | 19,958 | 3,155 | 31,667 | 54,780
Carrying amount
At 30 December 2024 | - | 883 | - | 883
At 30 December 2023 | 401 | 1,694 | - | 2,095

5 | Stocks

| 2024 £ | 2023 £
Finished goods and goods for resale | 44,300 | 38,825

6 | Debtors

| 2024 £ | 2023 £
Trade debtors | 3,670 | -
Other debtors | - | 2,070
| 3,670 | 2,070

Latham & Taylor Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2024

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2024 £ | 2023 £
Due within one year |  |  |
Loans and borrowings | 8 | 1,909 | 1,881
Taxation and social security |  | 78 | -
Other creditors |  | 191,633 | 172,397
|  | 193,620 | 174,278

Creditors: amounts falling due after more than one year

| Note | 2024 £ | 2023 £
Due after one year |  |  |
Loans and borrowings | 8 | 10,048 | 11,984

8 | Loans and borrowings

Non-current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | 10,048 | 11,984

Current loans and borrowings

| 2024 £ | 2023 £
Bank borrowings | 1,909 | 1,881