REGISTERED NUMBER: 04328964 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Lofthouse and Partners Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

M Jaconelli

M J Weaver

REGISTERED OFFICE:

51 Frederick Street

Sunderland

SR1 1NF

REGISTERED NUMBER:

04328964 (England and Wales)

ACCOUNTANTS:

TTR Barnes

Chartered Accountants

3-5 Grange Terrace

Stockton Road

Sunderland

Tyne & Wear

SR2 7DG

FIXED ASSETS

Intangible assets

4

209,000

209,000

Tangible assets

5

151,563

152,354

360,563

361,354

CURRENT ASSETS

Debtors

6

140,054

157,402

Cash at bank

833,052

638,858

973,106

796,260

CREDITORS

Amounts falling due within one year

7

930,178

749,074

NET CURRENT ASSETS

42,928

47,186

TOTAL ASSETS LESS CURRENT LIABILITIES

403,491

408,540

CREDITORS

Amounts falling due after more than one year

8

(2,500

)

(12,500

)

PROVISIONS FOR LIABILITIES

(1,721

)

(900

)

NET ASSETS

399,270

395,140

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

398,270

394,140

SHAREHOLDERS' FUNDS

399,270

395,140

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 November 2025 and were signed on its behalf by:

M Jaconelli - Director

M J Weaver - Director

1.	STATUTORY INFORMATION

Lofthouse and Partners 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.

The financial statements have been prepared on the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future, which the directors consider appropriate.

Turnover

Turnover represents net sales of services, excluding value added tax.

Goodwill

Goodwill is not currently amortised in the financial statements as it is considered that it has an infinite life and instead is subject to an annual impairment review.

With regard to the treatment adopted, the financial statements depart from the specific requirements of the Companies Act 2006 to amortise goodwill over a definite period for the overriding purpose of giving a true and fair view.

Tangible fixed assets

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

Freehold property

-

2% on cost

Fixtures and fittings

-

10% on reducing balance

Computer equipment

-

33% Straight line

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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 5 (2024 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

220,000

AMORTISATION

At 1 April 2024

and 31 March 2025

11,000

NET BOOK VALUE

At 31 March 2025

209,000

At 31 March 2024

209,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2024

203,765

17,101

14,493

235,359

Additions

-

-

3,992

3,992

Disposals

-

-

(8,488

)

(8,488

)

At 31 March 2025

203,765

17,101

9,997

230,863

DEPRECIATION

At 1 April 2024

55,011

13,858

14,136

83,005

Charge for year

4,076

324

383

4,783

Eliminated on disposal

-

-

(8,488

)

(8,488

)

At 31 March 2025

59,087

14,182

6,031

79,300

NET BOOK VALUE

At 31 March 2025

144,678

2,919

3,966

151,563

At 31 March 2024

148,754

3,243

357

152,354

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

3,660

22,620

Other debtors

136,394

134,782

140,054

157,402

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

9,691

8,738

Taxation and social security

80,510

74,848

Other creditors

829,977

655,488

930,178

749,074

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

2,500

12,500

9.	PARENT COMPANY

The company is a subsidiary of Lofthouse and Partners (Holdings) Limited, whose registered office and principal place of business is 51 Frederick Street, Sunderland, Tyne And Wear, SR1 1NF.