Registration number: 11615723

Louth Market Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Louth Market Limited

Company Information

Directors

R L C Jeanes W D S Williams S M S Williams

Registered office

Cornmarket Louth Lincolnshire LN11 9QD

Louth Market Limited

(Registration number: 11615723)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	9,493	11,683
Tangible assets	5	16,430	17,585
		25,923	29,268
Current assets
Debtors	6	208,059	167,749
Cash at bank and in hand		500	117,694
		208,559	285,443
Creditors: Amounts falling due within one year	7	(176,600)	(236,583)
Net current assets		31,959	48,860
Total assets less current liabilities		57,882	78,128
Creditors: Amounts falling due after more than one year	7	(23,148)	(28,215)
Provisions for liabilities		(3,122)	(3,433)
Net assets		31,612	46,480
Capital and reserves
Called up share capital	8	100	100
Retained earnings		31,512	46,380
Shareholders' funds		31,612	46,480

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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 23 December 2025 and signed on its behalf by:
 

......................................... R L C Jeanes Director

......................................... W D S Williams Director

......................................... S M S Williams Director

Louth Market 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 and the company registration number is 11615723.

The address of its registered office is:
Cornmarket
Louth
Lincolnshire
LN11 9QD

These financial statements cover the individual entity, Louth Market Limited.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

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

The financial statements have been prepared in sterling and are rounded to the nearest pound.

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 and deferred 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.

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.

Louth Market Limited

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

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Office equipment	15% reducing balance basis
Plant and machinery	15% reducing balance basis
Motor vehicles	15% reducing balance basis

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:

Asset class	Amortisation method and rate
Intangible assets	10% straight line basis

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

3	Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 14 (2024 - 18).

Louth Market Limited

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

4	Intangible assets

	Lease costs  £	Total £
Cost or valuation
At 1 April 2024	21,903	21,903
At 31 March 2025	21,903	21,903
Amortisation
At 1 April 2024	10,220	10,220
Amortisation charge	2,190	2,190
At 31 March 2025	12,410	12,410
Carrying amount
At 31 March 2025	9,493	9,493
At 31 March 2024	11,683	11,683

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2024	24,134	3,000	27,134
Additions	1,580	-	1,580
At 31 March 2025	25,714	3,000	28,714
Depreciation
At 1 April 2024	8,716	833	9,549
Charge for the year	2,410	325	2,735
At 31 March 2025	11,126	1,158	12,284
Carrying amount
At 31 March 2025	14,588	1,842	16,430
At 31 March 2024	15,418	2,167	17,585

6

Debtors

Current	2025 £	2024 £
Trade debtors	187,930	136,679
Prepayments	1,661	1,012
Other debtors	18,468	30,058
	208,059	167,749

Louth Market Limited

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

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	21,143	18,594
Trade creditors		135,540	196,135
Taxation and social security		7,911	5,608
Accruals and deferred income		11,504	16,201
Other creditors		502	45
		176,600	236,583

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	23,148	28,215

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary A of £1 each	20	20	20	20
Ordinary B of £1 each	80	80	80	80
	100	100	100	100

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	23,148	28,215

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	5,555	6,600
Bank overdrafts	3,614	-
Other borrowings	11,974	11,994
	21,143	18,594