Registration number: 11587115

Truelove & Son Limited

(Registration number: 11587115)

Balance Sheet as at 30 September 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	3	8,633	11,433
Tangible assets	4	3,479,768	3,114,584
		3,488,401	3,126,017
Current assets
Stocks		40,000	-
Debtors	5	20,135	120,772
Cash at bank and in hand		875,486	632,301
		935,621	753,073
Creditors: Amounts falling due within one year	6	(924,937)	(962,924)
Net current assets/(liabilities)		10,684	(209,851)
Total assets less current liabilities		3,499,085	2,916,166
Creditors: Amounts falling due after more than one year	6	(1,709,521)	(1,791,082)
Provisions for liabilities		(150,548)	(42,596)
Net assets		1,639,016	1,082,488
Capital and reserves
Called up share capital		100	100
Retained earnings		1,638,916	1,082,388
Shareholders' funds		1,639,016	1,082,488

For the financial year ending 30 September 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 delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Directors' Report and the Profit and Loss Account has been taken.

Truelove & Son Limited

(Registration number: 11587115)

Balance Sheet as at 30 September 2025 (continued)

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the Board on 13 April 2026 and signed on its behalf by:
 

.........................................

T C Truelove

Director

Truelove & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025

1	Accounting policies

Statutory information

Truelove & Son Limited is a private company, limited by shares, domiciled in England and Wales, company number 11587115. The registered office is at Roydhouse, Shelley, Nr Huddersfield, HD8 8LR.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

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.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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.

Truelove & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

1	Accounting policies (continued)

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
Freehold property	2% straight line basis
Fixtures, fittings and equipment	15% straight line basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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
Goodwill	10% straight line basis

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Truelove & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

1	Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 

2	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 63 (2024 - 54).

3	Intangible assets

	Goodwill  £
Cost
At 1 October 2024	28,000
At 30 September 2025	28,000
Amortisation
At 1 October 2024	16,567
Amortisation charge	2,800
At 30 September 2025	19,367
Carrying amount
At 30 September 2025	8,633
At 30 September 2024	11,433

Truelove & Son Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2025 (continued)

4	Tangible assets

	Freehold property £	Fixtures, fittings and equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 October 2024	3,331,363	170,380	-	3,501,743
Additions	-	465,584	3,294	468,878
At 30 September 2025	3,331,363	635,964	3,294	3,970,621
Depreciation
At 1 October 2024	387,159	-	-	387,159
Charge for the year	66,627	37,067	-	103,694
At 30 September 2025	453,786	37,067	-	490,853
Carrying amount
At 30 September 2025	2,877,577	598,897	3,294	3,479,768
At 30 September 2024	2,944,204	170,380	-	3,114,584

5

Debtors

	2025 £	2024 £
Trade debtors	10,738	6,805
Amounts owed by related parties	1,816	50,431
Prepayments	7,581	6,339
Other debtors	-	57,197
	20,135	120,772

6

Creditors

	2025 £	2024 £
Due within one year
Bank loans	68,088	84,640
Trade creditors	115,067	55,952
Taxation and social security	293,179	113,865
Accruals and deferred income	180,883	345,017
Other creditors	267,720	363,450
	924,937	962,924