Company registration number 03596642 (England and Wales)
LLOYD & GRAVELL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
PAGES FOR FILING WITH REGISTRAR
LLOYD & GRAVELL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 10
LLOYD & GRAVELL LIMITED
BALANCE SHEET
AS AT
31 JULY 2025
31 July 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
712,059
688,678
Investment property
5
880,707
1,030,707
1,592,766
1,719,385
Current assets
Stocks
779,113
954,424
Debtors
6
1,050,743
2,171,766
Cash at bank and in hand
1,961,163
649
3,791,019
3,126,839
Creditors: amounts falling due within one year
7
(1,768,832)
(1,429,377)
Net current assets
2,022,187
1,697,462
Total assets less current liabilities
3,614,953
3,416,847
Creditors: amounts falling due after more than one year
8
(16,607)
-
Provisions for liabilities
(87,913)
(113,726)
Net assets
3,510,433
3,303,121
Capital and reserves
Called up share capital
105
105
Share premium account
30,795
30,795
Profit and loss reserves
3,479,533
3,272,221
Total equity
3,510,433
3,303,121
LLOYD & GRAVELL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2025
31 July 2025
- 2 -

For the financial year ended 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

The financial statements were approved by the board of directors and authorised for issue on 8 December 2025 and are signed on its behalf by:
Mr K M Gravell
Director
Company registration number 03596642 (England and Wales)
LLOYD & GRAVELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025
- 3 -
1
Accounting policies
Company information

Lloyd & Gravell Limited is a private company limited by shares incorporated in England and Wales. The registered office is 43 Myrtle Hill, Ponthenri, Llanelli, Carmarthenshire, SA15 5PD.

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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Where the outcome of a construction contract can be estimated reliably, revenue and costs are recognised by reference to the stage of completion of the contract activity at the reporting end date. Variations in contract work, claims and incentive payments are included to the extent that the amount can be measured reliably and its receipt is considered probable.

When it is probable that total contract costs will exceed total contract turnover, the expected loss is recognised as an expense immediately.

Where the outcome of a construction contract cannot be estimated reliably, contract revenue is recognised to the extent of contract costs incurred where it is probable that they will be recoverable. Contract costs are recognised as expenses in the period in which they are incurred. When costs incurred in securing a contract are recognised as an expense in the period in which they are incurred, they are not included in contract costs if the contract is obtained in a subsequent period.

The “percentage of completion method” is used to determine the appropriate amount to recognise in a given period. The stage of completion is measured by the proportion of contract costs incurred for work performed to date compared to the estimated total contract costs. Costs incurred in the year in connection with future activity on a contract are excluded from contract costs in determining the stage of completion. These costs are presented as stocks, prepayments or other assets depending on their nature, and provided it is probable they will be recovered. Bank interest accruing on capital borrowed to fund the production of long term contracts is carried forward within long term contract balances.

LLOYD & GRAVELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 4 -
1.3
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:

Freehold land and buildings
2% straight line
Plant and equipment
25% reducing balance
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.

1.4
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

LLOYD & GRAVELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 5 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
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.

1.8
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.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

LLOYD & GRAVELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 6 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
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.

1.11
Retirement benefits

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

1.12
Leases
As lessee

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

As lessor
LLOYD & GRAVELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
1
Accounting policies
(Continued)
- 7 -

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

1.13
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 directors are 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
57
55
LLOYD & GRAVELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
- 8 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 August 2024
496,967
1,078,666
1,575,633
Additions
5,823
128,480
134,303
Disposals
-
0
(43,060)
(43,060)
At 31 July 2025
502,790
1,164,086
1,666,876
Depreciation and impairment
At 1 August 2024
129,830
757,127
886,957
Depreciation charged in the year
9,056
95,632
104,688
Eliminated in respect of disposals
-
0
(36,828)
(36,828)
At 31 July 2025
138,886
815,931
954,817
Carrying amount
At 31 July 2025
363,904
348,155
712,059
At 31 July 2024
367,138
321,540
688,678
5
Investment property
2025
£
Fair value
At 1 August 2024
1,030,707
Revaluations
(150,000)
At 31 July 2025
880,707

Investment property comprises domestic property held for rental. The fair value of the investment property has been arrived at on the basis of a valuation carried out in 2024 by Dawsons Estate Agents, who are not connected with the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

LLOYD & GRAVELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
5
Investment property
(Continued)
- 9 -
If investment properties were stated on an historical cost basis rather than a fair value basis, the amounts would have been included as follows:
2025
2024
£
£
Cost
817,289
817,289
Accumulated depreciation
-
-
Carrying amount
817,289
817,289
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
896,837
1,993,642
Other debtors
153,906
178,124
1,050,743
2,171,766
7
Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
-
0
98,399
Trade creditors
796,056
596,820
Corporation tax
219,318
125,224
Other taxation and social security
451,957
133,998
Other creditors
301,501
474,936
1,768,832
1,429,377

The bank loan was secured by a fixed and floating charge over the company's assets and by a charge over its freehold , investment and development properties. The hire purchase liabilities of £51,397 (2024 £75,943) included in other creditors are secured on the assets concerned.

8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
16,607
-
0

The hire purchase liabilities due in excess of one year are secured on the assets concerned.

9
Operating lease commitments
As lessee
LLOYD & GRAVELL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
9
Operating lease commitments
(Continued)
- 10 -

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
136,510
121,841
10
Directors' transactions

Interest free loans have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts repaid
Closing balance
£
£
£
Mr P Lloyd -
-
24,366
(18,524)
5,842
Mr K M Gravell -
-
7,239
(1,574)
5,665
Mrs S M Lloyd -
-
11,832
(9,263)
2,569
Mrs A K Gravell -
-
10,550
(3,735)
6,815
53,987
(33,096)
20,891
2025-07-31 2024-08-01 false false false 08 December 2025 CCH Software CCH Accounts Production 2025.100 No description of principal activity Mr P Lloyd Mr K Gravell Mrs S Lloyd Mrs A Gravell Mr R D Charles Mr P A Roberts Mr K M Gravell 03596642 2024-08-01 2025-07-31 03596642 2025-07-31 03596642 2024-07-31 03596642 core:LandBuildings 2025-07-31 03596642 core:OtherPropertyPlantEquipment 2025-07-31 03596642 core:LandBuildings 2024-07-31 03596642 core:OtherPropertyPlantEquipment 2024-07-31 03596642 core:CurrentFinancialInstruments core:WithinOneYear 2025-07-31 03596642 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 03596642 core:ShareCapital 2025-07-31 03596642 core:ShareCapital 2024-07-31 03596642 core:SharePremium 2025-07-31 03596642 core:SharePremium 2024-07-31 03596642 core:RetainedEarningsAccumulatedLosses 2025-07-31 03596642 core:RetainedEarningsAccumulatedLosses 2024-07-31 03596642 bus:CompanySecretaryDirector1 2024-08-01 2025-07-31 03596642 core:LandBuildings core:OwnedOrFreeholdAssets 2024-08-01 2025-07-31 03596642 core:PlantMachinery 2024-08-01 2025-07-31 03596642 core:MotorVehicles 2024-08-01 2025-07-31 03596642 2023-08-01 2024-07-31 03596642 core:LandBuildings 2024-07-31 03596642 core:OtherPropertyPlantEquipment 2024-07-31 03596642 2024-07-31 03596642 core:LandBuildings 2024-08-01 2025-07-31 03596642 core:OtherPropertyPlantEquipment 2024-08-01 2025-07-31 03596642 core:CurrentFinancialInstruments 2025-07-31 03596642 core:CurrentFinancialInstruments 2024-07-31 03596642 core:WithinOneYear 2025-07-31 03596642 core:WithinOneYear 2024-07-31 03596642 core:Non-currentFinancialInstruments 2025-07-31 03596642 core:Non-currentFinancialInstruments 2024-07-31 03596642 bus:PrivateLimitedCompanyLtd 2024-08-01 2025-07-31 03596642 bus:SmallCompaniesRegimeForAccounts 2024-08-01 2025-07-31 03596642 bus:FRS102 2024-08-01 2025-07-31 03596642 bus:AuditExemptWithAccountantsReport 2024-08-01 2025-07-31 03596642 bus:Director1 2024-08-01 2025-07-31 03596642 bus:Director2 2024-08-01 2025-07-31 03596642 bus:Director3 2024-08-01 2025-07-31 03596642 bus:Director4 2024-08-01 2025-07-31 03596642 bus:Director5 2024-08-01 2025-07-31 03596642 bus:Director6 2024-08-01 2025-07-31 03596642 bus:CompanySecretary1 2024-08-01 2025-07-31 03596642 bus:FullAccounts 2024-08-01 2025-07-31 xbrli:pure xbrli:shares iso4217:GBP