REGISTERED NUMBER: 03754831 (England and Wales)

Lycett Holdings Limited

Financial Statements

for the Year Ended 31 March 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J E V Ratledge

SECRETARY:

J E V Ratledge

REGISTERED OFFICE:

Mariner, Unit 108

Lichfield Road Industrial Estate

Tamworth

Staffordshire

B79 7UL

REGISTERED NUMBER:

03754831 (England and Wales)

AUDITORS:

TC Group

Statutory Auditor

Sterling House

97 Lichfield Street

Tamworth

Staffordshire

B79 7QF

FIXED ASSETS

Tangible assets

4

752,774

761,857

Investments

5

103,000

103,000

855,774

864,857

CURRENT ASSETS

Debtors

6

1,719,056

1,612,906

CREDITORS

Amounts falling due within one year

7

39,494

43,725

NET CURRENT ASSETS

1,679,562

1,569,181

TOTAL ASSETS LESS CURRENT LIABILITIES

2,535,336

2,434,038

CAPITAL AND RESERVES

Called up share capital

8

70,000

70,000

Capital redemption reserve

9

33,000

33,000

Retained earnings

9

2,432,336

2,331,038

SHAREHOLDERS' FUNDS

2,535,336

2,434,038

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 director and authorised for issue on 23 October 2025 and were signed by:

J E V Ratledge - Director

1.	STATUTORY INFORMATION

Lycett Holdings 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The financial statements have been prepared on a going concern basis. The directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. Based on these assessments and the current resources available, the directors have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Preparation of consolidated financial statements

The financial statements contain information about Lycett Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

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

Rental income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Rental income is accrued on a time basis.

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

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

At each year-end the company reviews the book values of its fixed assets to determine whether there is any indication of impairment loss. The recoverable amount of the asset is estimated and then compared to the book value. Any shortfall is charged to profit or loss as an impairment write off. Reversals of impairment write offs are also credited to profit or loss.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

A subsidiary is an entity controlled by the company.

Financial instruments

The company has adopted the exemptions from the disclosure requirements of FRS 102 in respect of financial instruments.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 April 2024

and 31 March 2025

954,151

DEPRECIATION

At 1 April 2024

192,294

Charge for year

9,083

At 31 March 2025

201,377

NET BOOK VALUE

At 31 March 2025

752,774

At 31 March 2024

761,857

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

and 31 March 2025

103,000

NET BOOK VALUE

At 31 March 2025

103,000

At 31 March 2024

103,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

1,719,056

1,612,906

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Tax

36,794

36,825

Accruals and deferred income

2,700

6,900

39,494

43,725

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

70,000

Ordinary

£1

70,000

70,000

9.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 April 2024

2,331,038

33,000

2,364,038

Profit for the year

101,298

101,298

At 31 March 2025

2,432,336

33,000

2,465,336

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Stephen Butler BA FCA (Senior Statutory Auditor)

for and on behalf of TC Group

11.	PARENT COMPANY

The ultimate parent company is Tamworth Steel Stockholders Limited.

Tamworth Steel Stockholders Limited prepares consolidated accounts and these can be obtained from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.