Registration number: 04615025

Headmasters (Lancashire) Limited

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Headmasters (Lancashire) Limited

(Registration number: 04615025)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	45,400	56,731
Current assets
Stocks	6	3,200	15,000
Debtors	7	12,913	46,831
Cash at bank and in hand		648	4,041
		16,761	65,872
Creditors: Amounts falling due within one year	8	(55,001)	(105,227)
Net current liabilities		(38,240)	(39,355)
Total assets less current liabilities		7,160	17,376
Creditors: Amounts falling due after more than one year	8	(6,915)	(16,667)
Net assets		245	709
Capital and reserves
Called up share capital		4	4
Retained earnings		241	705
Shareholders' funds		245	709

Headmasters (Lancashire) Limited

(Registration number: 04615025)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 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 23 December 2025 and signed on its behalf by:
 

......................................... C M Moffatt Director

Headmasters (Lancashire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
602 Bacup Road
Waterfoot
Lancashire
BB4 7EU
England

These financial statements were authorised for issue by the Board on 23 December 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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared in sterling (£) using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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 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.

Headmasters (Lancashire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Freehold Property	10% Straight Line
Plant and Machinery	15% Reducing Balance
Fixtures and Fittings	15% Reducing Balance
Office Equipment	15% Reducibng Balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

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.

Headmasters (Lancashire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Headmasters (Lancashire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 10 (2024 - 9).

Headmasters (Lancashire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	51,500	51,500
At 31 March 2025	51,500	51,500
Amortisation
At 1 April 2024	51,500	51,500
At 31 March 2025	51,500	51,500
Carrying amount
At 31 March 2025	-	-

5	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2024	95,086	76,438	21,647	193,171
At 31 March 2025	95,086	76,438	21,647	193,171
Depreciation
At 1 April 2024	50,505	70,574	15,361	136,440
Charge for the year	9,508	880	943	11,331
At 31 March 2025	60,013	71,454	16,304	147,771
Carrying amount
At 31 March 2025	35,073	4,984	5,343	45,400
At 31 March 2024	44,581	5,864	6,286	56,731

6

Stocks

	2025 £	2024 £
Other inventories	3,200	15,000

Headmasters (Lancashire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Debtors

Current	Note	2025 £	2024 £
Amounts owed by related parties	10	3,000	-
Prepayments		-	9,003
Other debtors		9,913	37,828
		12,913	46,831

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	12,584	17,505
Trade creditors		16,654	34,573
Taxation and social security		20,605	6,251
Accruals and deferred income		4,600	26,382
Other creditors		558	20,516
		55,001	105,227

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	6,915	16,667

Headmasters (Lancashire) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	6,915	16,667

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	10,000	10,000
Bank overdrafts	2,584	7,088
Other borrowings	-	417
	12,584	17,505

10	Related party transactions

Transactions with directors

2025	At 1 April 2024 £	Repayments by director £	At 31 March 2025 £
C M Moffatt
The loans are interest free and repaid within 9 months	21,308	(11,396)	9,912

2024	At 1 April 2023 £	Advances to director £	At 31 March 2024 £
C M Moffatt
The loans are interest free and repaid within 9 months	8,815	12,493	21,308