LOCI_Limited_31_Dec_2024_companies_house_set_of

LOCI Limited

Statement of Financial Position

31 December 2024

		2024		2023
	Note	£		£
Fixed assets
Tangible assets	5	5,364		11,428
Current assets
Debtors	6	52,295		52,864
Cash at bank and in hand		1,159		1,655
		53,454		54,519
Creditors: amounts falling due within one year	7	(11,498	)	(10,512	)
Net current assets		41,956		44,007
Total assets less current liabilities		47,320		55,435
Provisions for liabilities		(1,019	)	(2,171	)
Net assets		46,301		53,264
Capital and reserves
Called up share capital		4		4
Profit and loss account		46,297		53,260
Shareholders funds		46,301		53,264

For the year ending

31 December 2024

, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The 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 director acknowledges their responsibilities for complying with the requirements of the Act 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.

In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.

These

financial statements

were approved by the board of directors and authorised for issue on

16 December 2025

, and are signed on behalf of the board by:

Mr Thomas Alexander Keeling

Director

Company registration number:

03695299

LOCI Limited

Notes to the Financial Statements

Year ended

31 December 2024

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is

Deansfield House

98 Lancaster Road

Newcastle under Lyme

Staffordshire

ST5 1DS

, England.

2 Statement of compliance

These

financial statements

have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible assets

Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures and fittings	25% straight line
Office equipment	3 years straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Provisions for liabilities

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

4 Average number of employees

The average number of persons employed by the company during the year was nil (2023: nil).

5 Tangible assets

	Plant and machinery etc.
	£
Cost
At 1 January 2024 and 31 December 2024	25,764
Depreciation
At 1 January 2024	14,336
Charge	6,064
At 31 December 2024	20,400
Carrying amount
At 31 December 2024	5,364
At 31 December 2023	11,428

6 Debtors

	2024	2023
	£	£
Amounts owed by group undertakings and undertakings in which the company has a participating interest	52,236	52,736
Other debtors	59	128
	52,295	52,864

7 Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	-	882
Other creditors	11,498	9,630
	11,498	10,512

8 Related party transactions

Mr Thomas Alexander Keeling is a related party by virtue of his directorship of the company.

Mr Thomas Alexander Keeling has provided the company with an interest free loan such that the balance owed by the company at the year end was £10,778 (2023: £8,706).

LOCI Limited is a wholly owned subsidiary of Keeling Limited and its registered office address is Deansfield House, 98 Lancaster Road, Newcastle under Lyme, Staffordshire, ST5 1DS.

LOCI Limited has provided Keeling Limited with an interest free loan and the balance owed to the company at the year end was £45,485 (2023: £45,985).

Keeling Investments Limited is a wholly owned subsidiary of Keeling Limited. LOCI Limited has provided the Keeling Investments Limited with an interest free loan and the balance owed to the company at the year end was £6,751 (2023: £6,751).

9 Controlling party

Mr Thomas Alexander Keeling has control of Keeling Limited, the ultimate parent company of LOCI Limited.