IRIS Accounts Production v25.4.0.155 01087683 Board of Directors Board of Directors Board of Directors Board of Directors 1.6.24 31.5.25 31.5.25 false true false false true false Fair value model iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 01087683 2024-05-31 01087683 2025-05-31 01087683 2024-06-01 2025-05-31 01087683 2023-05-31 01087683 2023-06-01 2024-05-31 01087683 2024-05-31 01087683 ns15:EnglandWales 2024-06-01 2025-05-31 01087683 ns14:PoundSterling 2024-06-01 2025-05-31 01087683 ns10:Director1 2024-06-01 2025-05-31 01087683 ns10:Director2 2024-06-01 2025-05-31 01087683 ns10:Director3 2024-06-01 2025-05-31 01087683 ns10:Director4 2024-06-01 2025-05-31 01087683 ns10:PrivateLimitedCompanyLtd 2024-06-01 2025-05-31 01087683 ns10:SmallEntities 2024-06-01 2025-05-31 01087683 ns10:AuditExempt-NoAccountantsReport 2024-06-01 2025-05-31 01087683 ns10:SmallCompaniesRegimeForDirectorsReport 2024-06-01 2025-05-31 01087683 ns10:SmallCompaniesRegimeForAccounts 2024-06-01 2025-05-31 01087683 ns10:FullAccounts 2024-06-01 2025-05-31 01087683 ns10:RegisteredOffice 2024-06-01 2025-05-31 01087683 ns5:CurrentFinancialInstruments 2025-05-31 01087683 ns5:CurrentFinancialInstruments 2024-05-31 01087683 ns5:ShareCapital 2025-05-31 01087683 ns5:ShareCapital 2024-05-31 01087683 ns5:RevaluationReserve 2025-05-31 01087683 ns5:RevaluationReserve 2024-05-31 01087683 ns5:RetainedEarningsAccumulatedLosses 2025-05-31 01087683 ns5:RetainedEarningsAccumulatedLosses 2024-05-31 01087683 ns5:PlantMachinery 2024-06-01 2025-05-31 01087683 ns5:ComputerEquipment 2024-06-01 2025-05-31 01087683 ns5:PlantMachinery 2024-05-31 01087683 ns5:ComputerEquipment 2024-05-31 01087683 ns5:PlantMachinery 2025-05-31 01087683 ns5:ComputerEquipment 2025-05-31 01087683 ns5:PlantMachinery 2024-05-31 01087683 ns5:ComputerEquipment 2024-05-31 01087683 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-05-31 01087683 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-05-31 01087683 1 ns10:Director1 2024-05-31 01087683 1 ns10:Director1 2023-05-31 01087683 1 ns10:Director1 2024-06-01 2025-05-31 01087683 1 ns10:Director1 2023-06-01 2024-05-31 01087683 1 ns10:Director1 2025-05-31 01087683 1 ns10:Director1 2024-05-31 01087683 ns10:Director2 2 2024-05-31 01087683 ns10:Director2 2 2023-05-31 01087683 ns10:Director2 2 2024-06-01 2025-05-31 01087683 ns10:Director2 2 2023-06-01 2024-05-31 01087683 ns10:Director2 2 2025-05-31 01087683 ns10:Director2 2 2024-05-31 01087683 3 ns10:Director3 2024-05-31 01087683 3 ns10:Director3 2023-05-31 01087683 3 ns10:Director3 2024-06-01 2025-05-31 01087683 3 ns10:Director3 2023-06-01 2024-05-31 01087683 3 ns10:Director3 2025-05-31 01087683 3 ns10:Director3 2024-05-31 01087683 4 ns10:Director4 2024-05-31 01087683 4 ns10:Director4 2023-05-31 01087683 4 ns10:Director4 2024-06-01 2025-05-31 01087683 4 ns10:Director4 2023-06-01 2024-05-31 01087683 4 ns10:Director4 2025-05-31 01087683 4 ns10:Director4 2024-05-31

REGISTERED NUMBER: 01087683 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2025

FOR

G.T. LACY LIMITED

G.T. LACY LIMITED (REGISTERED NUMBER: 01087683)

CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

Page |

Company Information | 1 |

Balance Sheet | 2 |

Notes to the Financial Statements | 4 |

G.T. LACY LIMITED

COMPANY INFORMATION

FOR THE YEAR ENDED 31 MAY 2025

| DIRECTORS: | Mrs A L Sanders

| M A Sanders

| Miss A K Sanders

| Mrs T N Roscoe

| REGISTERED OFFICE: | Frith Farm

| Rodden

| Frome

| Somerset

| BA11 5LD

| REGISTERED NUMBER: | 01087683 (England and Wales)

| ACCOUNTANTS: | Randall & Payne LLP

| Chartered Accountants

| Chargrove House

| Shurdington Road

| Cheltenham

| Gloucestershire

| GL51 4GA

G.T. LACY LIMITED (REGISTERED NUMBER: 01087683)

BALANCE SHEET

31 MAY 2025

| 2025 | 2024 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 4 | 2,504 |  | 563 |  |

Investment property | 5 | 2,325,000 |  | 1,947,580 |  |

2,327,504 |  | 1,948,143 |  |

CURRENT ASSETS

Debtors | 6 | 26,156 |  | 35,874 |  |

Cash at bank | 29,167 |  | 11,432 |  |

55,323 |  | 47,306 |  |

CREDITORS

Amounts falling due within one year | 7 | 322,278 |  | 272,728 |  |

NET CURRENT LIABILITIES | (266,955 | ) | (225,422 | ) |

TOTAL ASSETS LESS CURRENT LIABILITIES | 2,060,549 |  | 1,722,721 |  |

PROVISIONS FOR LIABILITIES | 258,350 |  | 213,210 |  |

NET ASSETS | 1,802,199 |  | 1,509,511 |  |

CAPITAL AND RESERVES

Called up share capital | 1,000 |  | 1,000 |  |

Revaluation reserve | 1,821,857 |  | 1,444,437 |  |

Retained earnings | (20,658 | ) | 64,074 |  |

SHAREHOLDERS' FUNDS | 1,802,199 |  | 1,509,511 |  |

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

G.T. LACY LIMITED (REGISTERED NUMBER: 01087683)

BALANCE SHEET - continued

31 MAY 2025

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 December 2025 and were signed on its behalf by:

Mrs A L Sanders - Director | Miss A K Sanders - Director

Mrs T N Roscoe - Director | M A Sanders - Director

G.T. LACY LIMITED (REGISTERED NUMBER: 01087683)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2025

1. | STATUTORY INFORMATION

| G.T. Lacy 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 the provision of section 1A "Small entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

| Turnover

| Turnover represents property rental income receivable and is allocated to the relevant accounting period covered by the rental agreement or invoice.

| Tangible fixed assets

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

| Plant and machinery | - | 15% on cost

| Computer equipment | - | 15% on cost

| Investment property

| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

| Financial instruments

| Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.

| Taxation

| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

G.T. LACY LIMITED (REGISTERED NUMBER: 01087683)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| Going concern

| The directors have considered the risks and issues concerning the company and it's activities and no material uncertainties that may cast significant doubt about the company's ability of the company to continue as a going concern have been identified by the directors.

| Provisions

| Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

3. | EMPLOYEES AND DIRECTORS

| The average number of employees during the year was 4 (2024 - 4 ) .

4. | TANGIBLE FIXED ASSETS

| Plant and |  | Computer |

| machinery |  | equipment |  | Totals

£ | £ | £ |

| COST

| At 1 June 2024 | 6,992 |  | 1,471 |  | 8,463 |  |

| Additions | - |  | 2,244 |  | 2,244 |  |

| At 31 May 2025 | 6,992 |  | 3,715 |  | 10,707 |  |

| DEPRECIATION

| At 1 June 2024 | 6,827 |  | 1,073 |  | 7,900 |  |

| Charge for year | 33 |  | 270 |  | 303 |  |

| At 31 May 2025 | 6,860 |  | 1,343 |  | 8,203 |  |

| NET BOOK VALUE

| At 31 May 2025 | 132 |  | 2,372 |  | 2,504 |  |

| At 31 May 2024 | 165 |  | 398 |  | 563 |  |

5. | INVESTMENT PROPERTY

| Total

£ |

| FAIR VALUE

| At 1 June 2024 | 1,947,580 |  |

| Revaluations | 377,420 |  |

| At 31 May 2025 | 2,325,000 |  |

| NET BOOK VALUE

| At 31 May 2025 | 2,325,000 |  |

| At 31 May 2024 | 1,947,580 |  |

G.T. LACY LIMITED (REGISTERED NUMBER: 01087683)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

5. | INVESTMENT PROPERTY - continued

| Fair value at 31 May 2025 is represented by:

£ |

| Valuation in 2022 | 3,200 |  |

| Valuation in 2025 | 377,420 |  |

| Cost | 1,944,380 |  |

2,325,000 |  |

| The carrying value of the investment property is based on the directors' best estimate and no professional external valuer was used.

6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade debtors | 5,518 |  | 19,099 |  |

| Prepayments | 20,638 |  | 16,775 |  |

26,156 |  | 35,874 |  |

7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

2025 | 2024 |

£ | £ |

| Trade creditors | 5,478 |  | 3,918 |  |

| Corporation Tax | 18,718 |  | 19,350 |  |

| Social security and other taxes | 417 |  | 529 |  |

| VAT | 9,035 |  | 7,703 |  |

| Other creditors | 20,601 |  | 16,815 |  |

| Directors' loan accounts | 251,029 |  | 204,601 |  |

| Accrued expenses | 17,000 |  | 19,812 |  |

322,278 |  | 272,728 |  |

8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

| The following advances and credits to directors subsisted during the years ended 31 May 2025 and 31 May 2024:

2025 | 2024 |

£ | £ |

| Mrs A L Sanders

| Balance outstanding at start of year | (4,865 | ) | (3,515 | ) |

| Amounts advanced | 11,398 |  | 31,050 |  |

| Amounts repaid | (7,317 | ) | (32,400 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (784 | ) | (4,865 | ) |

G.T. LACY LIMITED (REGISTERED NUMBER: 01087683)

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MAY 2025

8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

| Miss A K Sanders

| Balance outstanding at start of year | (68,963 | ) | (77,368 | ) |

| Amounts advanced | 5,507 |  | 19,772 |  |

| Amounts repaid | (23,058 | ) | (11,367 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (86,514 | ) | (68,963 | ) |

| Mrs T N Roscoe

| Balance outstanding at start of year | (89,792 | ) | (92,147 | ) |

| Amounts advanced | 648 |  | 10,935 |  |

| Amounts repaid | (18,645 | ) | (8,580 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (107,789 | ) | (89,792 | ) |

| M A Sanders

| Balance outstanding at start of year | (40,980 | ) | (54,589 | ) |

| Amounts advanced | 9,913 |  | 28,507 |  |

| Amounts repaid | (24,875 | ) | (14,898 | ) |

| Amounts written off | - |  | - |  |

| Amounts waived | - |  | - |  |

| Balance outstanding at end of year | (55,942 | ) | (40,980 | ) |

| No interest is being charged on the director's loans and there are no set repayment terms.