Registration number: 12460351

Lockwood Land and Property Limited

Contents

Company Information	1
Statement of Directors' Responsibilities	2
Balance Sheet	3 to 4
Notes to the Unaudited Financial Statements	5 to 10

Lockwood Land and Property Limited

Company Information

Directors

Mr D W Marsh Ms L Hall

Registered office

North Lodge North Lodge Court South Horrington Village Wells Somerset BA5 3DZ

Accountants

Grant Sellers Limited Bank Court Manor Road Verwood Dorset BH31 6DY

Lockwood Land and Property Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

•	select suitable accounting policies and apply them consistently;

•	make judgements and accounting estimates that are reasonable and prudent;

•	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Lockwood Land and Property Limited

(Registration number: 12460351)
Balance Sheet as at 28 February 2025

	Note	2025 £	2024 £
Fixed assets
Investment property	4	1,520,000	922,959
Current assets
Debtors	5	5,521	2,352
Cash at bank and in hand		6,867	120,583
		12,388	122,935
Creditors: Amounts falling due within one year	6	(389,587)	(295,057)
Net current liabilities		(377,199)	(172,122)
Total assets less current liabilities		1,142,801	750,837
Creditors: Amounts falling due after more than one year	6	(603,000)	(565,000)
Provisions for liabilities		(86,692)	-
Net assets		453,109	185,837
Capital and reserves
Called up share capital	7	100	100
Other reserves		346,767	-
Retained earnings		106,242	185,737
Shareholders' funds		453,109	185,837

For the financial year ending 28 February 2025 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 Profit and Loss Account.

Approved and authorised by the Board on 28 November 2025 and signed on its behalf by:
 

Lockwood Land and Property Limited

(Registration number: 12460351)
Balance Sheet as at 28 February 2025

......................................... Mr D W Marsh Director

Lockwood Land and Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
North Lodge
North Lodge Court
South Horrington Village
Wells
Somerset
BA5 3DZ

These financial statements were authorised for issue by the Board on 28 November 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.

The accounts are presented in pound sterling and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Lockwood Land and Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Additional disclosure in relation to the corporation tax charge has been included in order to reflect the true impact of
taxation in the current year.

Investment properties

Investment properties is measured at fair value, determined annually by independent external valuers using current market prices for comparable real estate. Where no external valuation is obtained, the Directors apply their judgment to estimate fair value. This assessment is based on the most recent external valuation, adjusted for observable market movements, including relevant housing index trends.

Where Directors have performed the valuation, this is disclosed in the notes to the accounts, together with the basis of estimation.

Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Lockwood Land and Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2024 - 1).

4	Investment properties

	2025 £
At 1 March	922,959
Additions	250,274
Fair value adjustments	346,767
At 28 February	1,520,000

The valuation of the investment properties has been reflected to show the fair value of the assets based on the red book valuation completed by a qualified surveyor on 24th March 2025. The directors of the business deem this figure to be materially correct to the accounts and a more suitable valuation of the properties as at 28th February 2025.

The market valuation approach has been taken by the independent valuer, factoring into account sales and disposals of comparable properties.

5

Debtors

Current	2025 £	2024 £
Trade debtors	5,310	750
Other debtors	211	1,602
	5,521	2,352

Lockwood Land and Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

6

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Taxation and social security	4,837	44,027
Accruals and deferred income	3,200	1,130
Other creditors	381,550	249,900
	389,587	295,057

Creditors: amounts falling due after more than one year

	2025 £	2024 £
Due after one year
Amounts payable to related parties	603,000	565,000

7	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	100	100	100	100

8	Related party transactions

Expenditure with and payables to related parties

2025	Associates £
Amounts payable to related parties	550,000

2024	Associates £
Rendering of services	550,000
Amounts payable to related parties	550,000

Loans from related parties

2025	Associates £	Total £
At start of period	15,000	15,000
Advanced	38,000	38,000
At end of period	53,000	53,000

Lockwood Land and Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

2024	Associates £	Total £
Advanced	15,000	15,000
At end of period	15,000	15,000

Terms of loans from related parties

The company has received loans from a company under common control of a director of the company.
The loan was provided to the company for acquisition and development of investment properties.
 

9	Transition to FRS 102

Balance Sheet at 1 March 2023
 

	As originally reported £	Reclassification £	Remeasurement £	As restated £
Current assets
Stocks	221,900	-	-	221,900
Debtors	1,229	-	-	1,229
Cash at bank and in hand	5,487	-	-	5,487
	228,616	-	-	228,616
Creditors: Amounts falling due within one year	(1,680)	-	-	(1,680)
Total assets less current liabilities	226,936	-	-	226,936
Creditors: Amounts falling due after more than one year	(234,900)	-	-	(234,900)
Net liabilities	(7,964)	-	-	(7,964)
Capital and reserves
Total equity	-	-	-	-

Lockwood Land and Property Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Balance Sheet at 29 February 2024
 

	As originally reported £	Reclassification £	Remeasurement £	As restated £
Current assets
Stocks	922,959	-	-	922,959
Debtors	2,351	-	-	2,351
Cash at bank and in hand	120,583	-	-	120,583
	1,045,893	-	-	1,045,893
Creditors: Amounts falling due within one year	(45,157)	-	-	(45,157)
Total assets less current liabilities	1,000,736	-	-	1,000,736
Creditors: Amounts falling due after more than one year	(814,900)	-	-	(814,900)
Net assets	185,836	-	-	185,836
Capital and reserves
Total equity	-	-	-	-

10

Taxation

Additional disclosure in relation to the corporation tax charge has been included in order to reflect the true impact of
taxation in the current year.

	Note	2025  £	2024  £
Corporation tax charge for the year		4,837	44,027
Under provision of corporate tax in previous year		12,246	-
Deferred tax arising on revalution of investment property		86,692	-
		103,775	44,027