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Company No: 03255839 (England and Wales)

# LAPFORDWOOD LIMITED

### Unaudited Financial Statements
For the financial year ended 31 January 2026
Pages for filing with the registrar

LAPFORDWOOD LIMITED

## Unaudited Financial Statements

For the financial year ended 31 January 2026

Contents

LAPFORDWOOD LIMITED

## BALANCE SHEET

As at 31 January 2026
LAPFORDWOOD LIMITED

## BALANCE SHEET (continued)

As at 31 January 2026

| Note | 2026 |  | 2025
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 307,698 |  | 307,716
|  | 307,698 |  | 307,716
Current assets |  |  |  |
Debtors | 4 | 393 |  | 391
Cash at bank and in hand |  | 22,363 |  | 21,760
|  | 22,756 |  | 22,151
Creditors: amounts falling due within one year | 5 | ( 208,472) |  | ( 208,404)
Net current liabilities |  | (185,716) |  | (186,253)
Total assets less current liabilities |  | 121,982 |  | 121,463
Net assets |  | 121,982 |  | 121,463
Capital and reserves |  |  |  |
Called-up share capital | 6 | 130,000 |  | 130,000
Profit and loss account |  | ( 8,018 ) |  | ( 8,537 )
Total shareholder's funds |  | 121,982 |  | 121,463

For the financial year ending 31 January 2026 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Lapfordwood Limited (registered number: 03255839) were approved and authorised for issue by the Director on 09 April 2026. They were signed on its behalf by:

R M Crichton Director |

LAPFORDWOOD LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2026
LAPFORDWOOD LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2026

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Lapfordwood Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.
The principal place of business is Lapfordwood House, Lapford, Crediton, EX17 6QU.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

##### Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover represents amounts chargeable in respect of the sale of timber and rental of company assets.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings | not depreciated
Plant and machinery | 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
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.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.

#### 2. Employees

| 2026 |  | 2025
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 0 |  | 0

#### 3. Tangible assets

| Land and buildings |  | Plant and machinery |  | Total
| £ |  | £ |  | £
Cost |  |  |  |  |
At 01 February 2025 | 307,645 |  | 16,998 |  | 324,643
At 31 January 2026 | 307,645 |  | 16,998 |  | 324,643
Accumulated depreciation |  |  |  |  |
At 01 February 2025 | 0 |  | 16,927 |  | 16,927
Charge for the financial year | 0 |  | 18 |  | 18
At 31 January 2026 | 0 |  | 16,945 |  | 16,945
Net book value |  |  |  |  |
At 31 January 2026 | 307,645 |  | 53 |  | 307,698
At 31 January 2025 | 307,645 |  | 71 |  | 307,716

Land and buildings represent freehold property.

#### 4. Debtors

| 2026 |  | 2025
| £ |  | £
Prepayments | 393 |  | 391

#### 5. Creditors: amounts falling due within one year

| 2026 |  | 2025
| £ |  | £
Amounts owed to director | 20,000 |  | 20,000
Accruals | 750 |  | 751
Taxation and social security | 302 |  | 233
Other creditors | 187,420 |  | 187,420
| 208,472 |  | 208,404

#### 6. Called-up share capital

| 2026 |  | 2025
| £ |  | £
Allotted, called-up and fully-paid |  |  |
130,000 Ordinary shares of £ 1.00 each | 130,000 |  | 130,000
187,420 Preference redeemable shares of £ 1.00 each | 187,420 |  | 187,420
| 317,420 |  | 317,420

The redeemable preference shares are redeemable at the option of the holder. They are redeemable at £1 per share and carry the right to receive notice of, attend and speak at general meetings. The redeemable preference shares also entitle the holder to vote and to preferential capital on winding up.