Company registration number 06728449 (England and Wales)
LPC 1 LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
LPC 1 LIMITED
COMPANY INFORMATION
Director
Mr S R Ashdown
Company number
06728449
Registered office
Mentor House
and business address
Ainsworth Street
Lancashire
BB1 6AY
Accountants
Pierce C A Limited
Mentor House
Ainsworth Street
Blackburn
Lancashire
BB1 6AY
LPC 1 LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
LPC 1 LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
19,336
25,781
Current assets
Debtors
5
3,925,447
4,047,359
Cash at bank and in hand
8,157
60,850
3,933,604
4,108,209
Creditors: amounts falling due within one year
6
(3,574,446)
(3,943,633)
Net current assets
359,158
164,576
Total assets less current liabilities
378,494
190,357
Provisions for liabilities
-
0
-
0
Net assets
378,494
190,357
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
378,493
190,356
Total equity
378,494
190,357

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 15 January 2026
Mr S R Ashdown
Director
Company Registration No. 06728449
LPC 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 2 -
1
Accounting policies
Company information

LPC 1 Limited is a private company limited by shares incorporated in England and Wales. The registered office is Mentor House, Ainsworth Street, Blackburn, Lancashire BB1 6AY.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company continues on a going concern basis due to the financial support provided by true group and connected companies and a connected individual.

The director is not aware of any reasons as to why this financial support would be withdrawn and the company is expected to continue to operate in its present manner.

The director therefore considers that in preparing the financial statements he has taken into account all the information that could reasonably be expected to be available.

On this basis he considers it appropriate to prepare the financial statements on the going concern basis.

1.3
Turnover
Turnover represents management fees receivable net of VAT.
1.4
Tangible fixed assets

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

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Motor vehicles
25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

LPC 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

LPC 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
5
5
LPC 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2024 and 30 April 2025
27,500
Depreciation and impairment
At 1 May 2024
1,719
Depreciation charged in the year
6,445
At 30 April 2025
8,164
Carrying amount
At 30 April 2025
19,336
At 30 April 2024
25,781
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
2,981,697
2,473,477
Other debtors
943,750
1,573,882
3,925,447
4,047,359

Included in Other debtors are loans of £490,992 (2024: £714,876) made to connected entities.

These loans are unsecured and non-interest bearing.

LPC 1 LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 6 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
16,193
25,315
Corporation tax
16,732
16,732
Other taxation and social security
8,753
7,056
Other creditors
3,532,768
3,894,530
3,574,446
3,943,633

The loan of £2,290,300 (2024: £2,290,300) owed to a group undertaking at the balance sheet date is unsecured.

Also included in Other creditors is a loan from a connected individual of £964,213 (2024: £964,213). This loan is also unsecured.

Both of the above loans outstanding at 30 April 2025 can be demanded for immediate repayment and are non-interest bearing.

7
Directors' transactions

Included in Other debtors is a loan made by the company to its director. An amount of £5,000 was advanced during a previous year and remained outstanding at the balance sheet date. No interest has been charged in respect of this loan.

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