REGISTERED NUMBER: 08018325 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2025

for

Lockrem Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs E Robertson

D E Robertson

REGISTERED OFFICE:

8 Linnet Court

Alnwick

TD5 7HW

REGISTERED NUMBER:

08018325 (England and Wales)

ACCOUNTANTS:

EQ Accountants - KELSO

47-49 The Square

Kelso

Roxburghshire

TD5 7HW

FIXED ASSETS

Tangible assets

4

173,791

207,189

CURRENT ASSETS

Stocks

1,535

511

Debtors

5

249,563

206,216

Prepayments and accrued income

-

1,440

Cash at bank

2,012

11,178

253,110

219,345

CREDITORS

Amounts falling due within one year

6

20,120

16,750

NET CURRENT ASSETS

232,990

202,595

TOTAL ASSETS LESS CURRENT LIABILITIES

406,781

409,784

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

406,771

409,774

406,781

409,784

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 December 2025 and were signed on its behalf by:

D E Robertson - Director

1.	STATUTORY INFORMATION

Lockrem 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Implements

-

15% on reducing balance

Field implements

-

15% on reducing balance

Tractors

-

18% on reducing balance

Stocks

Stocks 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 balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Field

Implements

implements

Tractors

Totals

£

£

£

£

COST

At 1 April 2024

and 31 March 2025

21,450

340,400

262,850

624,700

DEPRECIATION

At 1 April 2024

16,209

215,746

185,556

417,511

Charge for year

787

18,698

13,913

33,398

At 31 March 2025

16,996

234,444

199,469

450,909

NET BOOK VALUE

At 31 March 2025

4,454

105,956

63,381

173,791

At 31 March 2024

5,241

124,654

77,294

207,189

5.

DEBTORS

31/3/25

31/3/24

£

£

Amounts falling due within one year:

Trade debtors

8,600

-

Amounts falling due after more than one year:

Amounts owed by participating interests

240,963

206,216

Aggregate amounts

249,563

206,216

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/3/25

31/3/24

£

£

Trade creditors

7,949

9,345

Taxation and social security

7,421

2,755

Other creditors

4,750

4,650

20,120

16,750