LLOYDS OF LUDLOW LIMITED
Company registration number 00609451 (England and Wales)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
PAGES FOR FILING WITH REGISTRAR
LLOYDS OF LUDLOW LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
LLOYDS OF LUDLOW LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
216,501
213,584
Investment property
4
14,500,500
14,784,300
Investments
5
17,287
16,870
14,734,288
15,014,754
Current assets
Stocks
9,200
15,440
Debtors
6
374,424
488,971
Cash at bank and in hand
899,863
527,281
1,283,487
1,031,692
Creditors: amounts falling due within one year
7
(365,452)
(493,180)
Net current assets
918,035
538,512
Total assets less current liabilities
15,652,323
15,553,266
Provisions for liabilities
(1,340,684)
(1,363,861)
Net assets
14,311,639
14,189,405
Capital and reserves
Called up share capital
8
30,200
30,200
Revaluation reserve
9
6,332,913
6,593,541
Profit and loss reserves
10
7,948,526
7,565,664
Total equity
14,311,639
14,189,405
LLOYDS OF LUDLOW LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2025
31 March 2025
- 2 -

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

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 20 November 2025 and are signed on its behalf by:
Mrs A M Walters
Director
Company registration number 00609451 (England and Wales)
LLOYDS OF LUDLOW LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 3 -
1
Accounting policies
Company information

Lloyds of Ludlow Limited is a private company limited by shares incorporated in England and Wales. The registered office is Kingsley Garage, Corve Street, Ludlow, Shropshire, SY8 1DJ.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

Other income

Rent receivable from investment properties is recognised in other operating income in the profit and loss account.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
2% on cost
Plant and equipment
10% on reducing balance
Fixtures and fittings
10% on reducing balance
Motor vehicles
25% on reducing balance

No depreciation has been provided on freehold land owned by the company as in the opinion of the directors the residual value is at least equal to the net book value. The directors perform annual impairment reviews to ensure that the carrying value is not more than the recoverable amount.

LLOYDS OF LUDLOW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -

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.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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.

1.8
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 current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

LLOYDS OF LUDLOW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 5 -
1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases
As lessor

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
6
6
LLOYDS OF LUDLOW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 6 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 April 2024
226,991
358,935
585,926
Additions
3,328
4,375
7,703
At 31 March 2025
230,319
363,310
593,629
Depreciation and impairment
At 1 April 2024
51,645
320,697
372,342
Depreciation charged in the year
390
4,396
4,786
At 31 March 2025
52,035
325,093
377,128
Carrying amount
At 31 March 2025
178,284
38,217
216,501
At 31 March 2024
175,346
38,238
213,584
4
Investment property
2025
£
Fair value
At 1 April 2024 and 31 March 2025
14,500,500

Investment property comprises land and buildings. The fair value of the investment property has been arrived at on the basis of a valuation carried out during the year by TWJ Partnership Chartered Surveyors, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

5
Fixed asset investments
2025
2024
£
£
Other investments other than loans
17,287
16,870
LLOYDS OF LUDLOW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
5
Fixed asset investments
(Continued)
- 7 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 April 2024
16,870
Additions
417
At 31 March 2025
17,287
Carrying amount
At 31 March 2025
17,287
At 31 March 2024
16,870
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
70,031
94,460
Other debtors
304,393
394,511
374,424
488,971

7
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
8,270
8,160
Taxation and social security
162,843
148,890
Other creditors
194,339
336,130
365,452
493,180
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
30,000
30,000
30,000
30,000
Ordinary A shares of £1 each
200
200
200
200
30,200
30,200
30,200
30,200
LLOYDS OF LUDLOW LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 8 -
9
Revaluation reserve
2025
2024
£
£
At the beginning of the year
6,593,541
6,588,430
Deferred tax on revaluation of tangible assets
23,172
(41,189)
Cumulative fair value adjustment transferred to profit or loss on sale of investments
(283,800)
46,300
At the end of the year
6,332,913
6,593,541
10
Profit and loss reserves
2025
2024
£
£
At the beginning of the year
7,565,664
7,230,336
Adjusted balance
7,565,664
7,230,336
Profit for the year
122,234
335,328
Transfer from revaluation reserve
260,628
-
0
At the end of the year
7,948,526
7,565,664
11
Parent company

The company's parent company is Lloyds of Ludlow Holdings Limited whose registered office is Kingsley Garage, Corve Street, Ludlow, Shropshire SY8 1DJ.

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