Year Ended
Registration number:
LTC Group87 Limited
Contents
|
Strategic Report |
|
|
Directors' Report |
|
|
Statement of Directors' Responsibilities |
|
|
Independent Auditor's Report |
|
|
Consolidated Statement of Income and Retained Earnings |
|
|
Consolidated Balance Sheet |
|
|
Balance Sheet |
|
|
Consolidated Statement of Cash Flows |
|
|
Notes to the Financial Statements |
LTC Group87 Limited
Strategic Report
Year Ended 31 August 2025
The directors present their strategic report for the year ended 31 August 2025.
Principal activity
The principal activities of the group are: Scaffolding contractors; Powered Access hire company; and Training services provider.
Fair review of the business
The directors are pleased to report that turnover has increased by 9% to £11,338,743 and gross margin remained consistent, falling by 1 percentage point to 55%. This is considered a good result given the additional costs pressures the group were exposed to in the year. Profit after tax also increased by 28% to £2,278,852 which is in part due to a significant bad debt write-off in the prior year.
The net current assets increased by 7% to £2,816,624 whilst net assets increased by 4% to £7,624,467.
The directors are very pleased with the financial performance and position of the group during the year.
The directors consider that the nature of the business is straightforward and are of the opinion that analysis using key performance indicators is not necessary to gain an understanding of the development, performance and position of the group.
The group assesses its opportunities and risks in the marketplace including areas such as competition, market trends and health and safety policies in order to maintain and extend its business activities.
Principal risks and uncertainties
The principal risk and uncertainty facing the group is the potential impact of downturns in the general economy. The group manages this risk by maintaining good communication and relationships with customers and tight control of costs.
Approved and authorised by the
|
......................................... |
LTC Group87 Limited
Directors' Report
Year Ended 31 August 2025
The directors present their report and the for the year ended 31 August 2025.
Directors of the group
The directors who held office during the year were as follows:
Financial risk management objectives and policies
The directors consider that the nature of the business carried on by the group is straightforward and are of the opinion that further analysis using key performance indicators is necessary to gain an understanding of the development, performance or position of the group.
The group assesses its opportunities and risks in the market place including areas such as competition, market trends and Health and Safety in order to maintain and extend its business activities. Tese are regularly reviewed by the directors in order to mitigate any impact.
The group has a normal level of exposure to price, credit, liquidity and cash flow risks arising from trading activities which are only conducted in sterling. The company does not enter into hedging transactions.
At the balance sheet date there were no significant areas of risk not covered.
Disclosure of information to the auditor
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
Approved and authorised by the
|
......................................... |
LTC Group87 Limited
Statement of Directors' Responsibilities
The directors acknowledge their responsibilities for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:
|
• |
select suitable accounting policies and apply them consistently; |
|
• |
make judgements and accounting estimates that are reasonable and prudent; |
|
• |
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and |
|
• |
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
LTC Group87 Limited
Independent Auditor's Report to the Members of LTC Group87 Limited
Opinion
We have audited the financial statements of LTC Group87 Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2025, which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
• | give a true and fair view of the state of the group's and the parent company's affairs as at 31 August 2025 and of the group's profit for the year then ended; |
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
• | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent company's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The directors are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
LTC Group87 Limited
Independent Auditor's Report to the Members of LTC Group87 Limited
We have nothing to report in this regard.
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
|
• |
the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
|
• |
the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
• | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
• | the parent company financial statements are not in agreement with the accounting records and returns; or |
• | certain disclosures of directors' remuneration specified by law are not made; or |
• | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the group’s and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.
LTC Group87 Limited
Independent Auditor's Report to the Members of LTC Group87 Limited
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We obtained an understanding of the legal and regulatory frameworks that are applicable to the company at the planning stage of the audit. Firstly, the company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation (including related company legislation) and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items. Secondly, the company is subject to other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation or the loss of the company’s ability to operate. In making this assessment we determined that the most significant elements of legislation include employment laws and regulations, GDPR and health and safety legislation.
|
• |
Enquiring with management regarding their knowledge of any non-compliance with laws and regulations that could affect the financial statements. As part of these enquiries we also discussed with management whether there have been any known instances, allegations or suspicions of fraud, of which there were none. |
|
• |
Considering the filings made at Companies House, and any omissions thereon of which there were none identified. |
|
• |
Discussing with management compliance with health and safety legislation. |
|
• |
Reviewing expenditure for any evidence of dispute of litigation with regulators, and there were none. |
|
• |
Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale for significant transactions outside the normal course of business, of which there were none. |
|
• |
Reviewing estimates and judgements made in the financial statements for any indication of bias and challenging assumptions used by management in making these estimates. |
|
• |
Reviewing the ICO website for any published breaches, none were identified. |
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate omissions, collusion, forgery, misrepresentations, or the override of internal controls. We are also less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial statements.
LTC Group87 Limited
Independent Auditor's Report to the Members of LTC Group87 Limited
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
Use of our report
This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
......................................
Unit 18 23
Royal William Yard
Melville Building, East St
PL1 3GW
LTC Group87 Limited
Consolidated Statement of Income and Retained Earnings for the Year Ended 31 August 2025
|
Note |
2025 |
2024 |
|
|
Turnover |
|
|
|
|
Cost of sales |
( |
( |
|
|
Gross profit |
|
|
|
|
Administrative expenses |
( |
( |
|
|
Other operating income |
|
|
|
|
Operating profit |
|
|
|
|
Other interest receivable and similar income |
|
|
|
|
Interest payable and similar charges |
( |
( |
|
|
Profit before tax |
|
|
|
|
Taxation |
( |
( |
|
|
Profit for the financial year |
|
|
|
|
Profit/(loss) attributable to: |
|||
|
Owners of the company |
|
|
|
|
Retained earnings brought forward |
7,335,615 |
7,551,971 |
|
|
Dividends paid |
( |
( |
|
|
Retained earnings carried forward |
7,614,467 |
7,335,615 |
LTC Group87 Limited
Consolidated Balance Sheet
31 August 2025
|
Note |
2025 |
(As restated) |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
|
|
|
|
Capital redemption reserve |
|
|
|
|
Profit and loss account |
|
|
|
|
Equity attributable to owners of the company |
|
|
|
|
Shareholders' funds |
|
|
Approved and authorised by the
|
......................................... |
Company Registration Number: 03418211
LTC Group87 Limited
Balance Sheet
31 August 2025
|
Note |
2025 |
2024 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Investments |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current liabilities |
( |
( |
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
|
|
|
|
Capital redemption reserve |
|
|
|
|
Profit and loss account |
|
|
|
|
Shareholders' funds |
|
|
The company has taken the exemption in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account. The company made a profit after tax for the financial year of £1,999,577 (2024 - profit of £2,800,716).
Approved and authorised by the
|
......................................... |
Company Registration Number: 03418211
LTC Group87 Limited
Consolidated Statement of Cash Flows
Year Ended 31 August 2025
|
Note |
2025 |
(As restated) |
|
|
Cash flows from operating activities |
|||
|
Profit for the year |
|
|
|
|
Adjustments to cash flows from non-cash items |
|||
|
Depreciation and amortisation |
|
|
|
|
Finance income |
( |
( |
|
|
Finance costs |
|
|
|
|
Income tax expense |
|
|
|
|
|
|
||
|
Working capital adjustments |
|||
|
Decrease/(increase) in trade debtors |
|
( |
|
|
Increase/(decrease) in trade creditors |
|
( |
|
|
Increase in deferred income, including government grants |
|
|
|
|
Cash generated from operations |
|
|
|
|
Income taxes paid |
( |
( |
|
|
Net cash flow from operating activities |
|
|
|
|
Cash flows from investing activities |
|||
|
Interest received |
|
|
|
|
Acquisitions of tangible assets |
( |
( |
|
|
Proceeds from sale of tangible assets |
|
|
|
|
Net cash flows from investing activities |
( |
( |
|
|
Cash flows from financing activities |
|||
|
Interest paid |
( |
( |
|
|
Repayment of bank borrowing |
( |
( |
|
|
Payments to finance lease creditors |
( |
|
|
|
Dividends paid |
( |
( |
|
|
Net cash flows from financing activities |
( |
( |
|
|
Net increase/(decrease) in cash and cash equivalents |
|
( |
|
|
Cash and cash equivalents at 1 September |
|
|
|
|
Cash and cash equivalents at 31 August |
3,657,015 |
2,623,781 |
|
LTC Group87 Limited
Notes to the Financial Statements
Year Ended 31 August 2025
|
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
|
Accounting policies |
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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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.
Summary of disclosure exemptions
FRS 102 grants a qualifying entity exemptions from the full requirements of FRS 102. The following exemptions have been taken in these financial statements as the company is deemed to be a qualifying entity:
The company has taken advantage of the exemption, under FRS 102 paragraph 1.12(b), from reparing a Statement of Cash Flows on the basis that it is a qualifying entity and its cash flows are included in the consolidated financial statements of the group. The company is also taking exemption from disclosure of key management personnel compensation and exemption from disclosure of related party transactions entered into between the company and other members of the group.
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 August 2025.
As a consolidated profit and loss account is published, a separate profit and loss account for the parent company is omitted from the group financial statements by virtue of section 408 of the Companies Act 2006.
LTC Group87 Limited
Notes to the Financial Statements
Year Ended 31 August 2025
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
The results of subsidiaries acquired or disposed of during the year are included in the Profit and Loss Account from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by the group.
The purchase method of accounting is used to account for business combinations that result in the acquisition of subsidiaries by the group. The cost of a business combination is measured as the fair value of the assets given, equity instruments issued and liabilities incurred or assumed at the date of exchange, plus costs directly attributable to the business combination. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. Any excess of the cost of the business combination over the acquirer’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised is recorded as goodwill.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.
Reclassification of comparative amounts
Judgements and key sources of estimation uncertainty
In the application of the Group's accounting policies, which are described in this note, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on experience and expectation of future events. Management consider there to be only two areas of significant judgement and estimation, the recognition of revenue on scaffolding projects and for variations and claims. Management use an industry standard methodology which recognises 66% of the revenue at the point the scaffolding is erected and 34% when the scaffolding is disassembled. Estimates for potential variations and claims are based on management experience considering the costs and expectation of recovery.
Any estimates and underlying assumptions used by management are reviewed on an ongoing basis. Any revision deemed to be required to any accounting estimates would be recognised in the period in which the estimate is revised if the revision affects only that period or in the period of the revision and future periods if the revision affects both current and future periods. No such changes or amendments are deemed necessary in either this or the prior period.
LTC Group87 Limited
Notes to the Financial Statements
Year Ended 31 August 2025
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 group’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
The group recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the group's activities.
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 corporation 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 group operates and generates taxable income.
Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the consolidated profit and loss account and other comprehensive income. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
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.
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 buildings |
2% straight line |
|
Freehold land |
Not depreciated |
|
Furniture, fittings and equipment |
50% straight line or 25% reducing balance |
|
Motor vehicles |
25% reducing balance |
|
Plant and machinery |
5% straight line or 10-15% reducing balance |
LTC Group87 Limited
Notes to the Financial Statements
Year Ended 31 August 2025
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group 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.
LTC Group87 Limited
Notes to the Financial Statements
Year Ended 31 August 2025
Financial instruments
Classification
• Short term trade and other debtors and creditors;
• Bank loans; and
• Cash and bank balances.
All financial instruments are classified as basic.
Recognition and measurement
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.
Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.
Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.
|
Turnover |
The analysis of the group's Turnover for the year from continuing operations is as follows:
|
2025 |
2024 |
|
|
Rendering of services |
|
|
The analysis of the group's Turnover for the year by market is as follows:
|
2025 |
2024 |
|
|
UK |
|
|
|
Other operating income |
The analysis of the group's other operating income for the year is as follows:
|
2025 |
2024 |
|
|
Government grants |
|
|
|
Sub lease rental income |
|
|
|
Miscellaneous other operating income |
|
|
|
|
|
LTC Group87 Limited
Notes to the Financial Statements
Year Ended 31 August 2025
|
Operating profit |
Arrived at after charging/(crediting)
|
2025 |
2024 |
|
|
Depreciation expense |
|
|
|
Staff costs |
The aggregate payroll costs (including directors' remuneration) were as follows:
|
2025 |
2024 |
|
|
Wages and salaries |
|
|
|
Social security costs |
|
|
|
Pension costs, defined contribution scheme |
|
|
|
Other employee expense |
|
|
|
|
|
The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:
|
2025 |
2024 |
|
|
Operatives and instructors |
|
|
|
Directors |
|
|
|
Other staff |
|
|
|
|
|
|
Directors' remuneration |
The directors' remuneration for the year was as follows:
|
2025 |
(As restated) |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
494,093 |
517,275 |
LTC Group87 Limited
Notes to the Financial Statements
Year Ended 31 August 2025
During the year the number of directors who were receiving benefits and share incentives was as follows:
|
2025 |
2024 |
|
|
Accruing benefits under money purchase pension scheme |
|
|
In respect of the highest paid director:
|
2025 |
2024 |
|
|
Remuneration |
|
|
|
Company contributions to money purchase pension schemes |
|
|
|
Auditor's remuneration |
|
2025 |
2024 |
|
|
Audit of these financial statements |
7,500 |
7,448 |
|
Audit of the financial statements of subsidiaries of the company |
6,000 |
3,486 |
|
|
|
|
Other interest receivable and similar income |
|
2025 |
2024 |
|
|
Interest income on bank deposits |
|
|
|
Other finance income |
|
|
|
|
|
|
Interest payable and similar expenses |
|
2025 |
2024 |
|
|
Interest on bank overdrafts and borrowings |
|
|
|
Interest on obligations under finance leases and hire purchase contracts |
|
|
|
Interest expense on other finance liabilities |
- |
|
|
|
|
LTC Group87 Limited
Notes to the Financial Statements
Year Ended 31 August 2025
|
Taxation |
Tax charged/(credited) in the consolidated profit and loss account
|
2025 |
2024 |
|
|
Current taxation |
||
|
UK corporation tax |
|
|
|
UK corporation tax adjustment to prior periods |
- |
( |
|
824,812 |
571,287 |
|
|
Deferred taxation |
||
|
Arising from origination and reversal of timing differences |
( |
|
|
Tax expense in the income statement |
|
|
The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - higher than the standard rate of corporation tax in the UK) of
The differences are reconciled below:
|
2025 |
2024 |
|
|
Profit before tax |
|
|
|
Corporation tax at standard rate |
|
|
|
Decrease in UK and foreign current tax from adjustment for prior periods |
- |
( |
|
Effect of expense not deductible in determining taxable profit (tax loss) |
|
|
|
Increase from tax losses for which no deferred tax asset was recognised |
|
- |
|
Total tax charge |
|
|
Deferred tax
Group
Deferred tax assets and liabilities
|
2025 |
Liability |
|
Difference between accumulated depreciation and capital allowances |
|
|
Other timing differences |
( |
|
|
LTC Group87 Limited
Notes to the Financial Statements
Year Ended 31 August 2025
|
2024 |
Liability |
|
Difference between accumulated depreciation and capital allowances |
|
|
|
Company
Deferred tax assets and liabilities
|
2025 |
Liability |
|
Difference between accumulated depreciation and capital allowances |
|
|
Other timing differences |
( |
|
|
|
2024 |
Liability |
|
Difference between accumulated depreciation and capital allowances |
|
|
|
|
Tangible assets |
Group
|
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
|
|
Cost or valuation |
|||||
|
At 1 September 2024 |
|
|
|
|
|
|
Additions |
|
|
|
|
|
|
Disposals |
- |
( |
( |
( |
( |
|
At 31 August 2025 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 September 2024 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
Eliminated on disposal |
- |
( |
( |
( |
( |
|
At 31 August 2025 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 August 2025 |
|
|
|
|
|
|
At 31 August 2024 |
|
|
|
|
|
LTC Group87 Limited
Notes to the Financial Statements
Year Ended 31 August 2025
Included within the net book value of land and buildings above is £3,082,278 (2024 - £3,128,294) in respect of freehold land and buildings.
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
2025 |
2024 |
|
|
Plant and machinery |
544,313 |
627,998 |
|
Motor vehicles |
202,556 |
352,369 |
|
746,869 |
980,367 |
Company
|
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
|
|
Cost or valuation |
|||||
|
At 1 September 2024 |
|
|
|
|
|
|
Additions |
|
|
|
|
|
|
Disposals |
- |
( |
( |
( |
( |
|
At 31 August 2025 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 1 September 2024 |
|
|
|
|
|
|
Charge for the year |
|
|
|
|
|
|
Eliminated on disposal |
- |
( |
( |
( |
( |
|
At 31 August 2025 |
|
|
|
|
|
|
Carrying amount |
|||||
|
At 31 August 2025 |
|
|
|
|
|
|
At 31 August 2024 |
|
|
|
|
|
Included within the net book value of land and buildings above is £3,082,278 (2024 - £3,128,294) in respect of freehold land and buildings.
LTC Group87 Limited
Notes to the Financial Statements
Year Ended 31 August 2025
Assets held under finance leases and hire purchase contracts
The net carrying amount of tangible assets includes the following amounts in respect of assets held under finance leases and hire purchase contracts:
|
2025 |
2024 |
|
|
Plant and machinery |
466,199 |
551,919 |
|
Motor vehicles |
202,556 |
303,884 |
|
668,755 |
855,803 |
|
Investments |
Company
|
2025 |
2024 |
|
|
Investments in subsidiaries |
|
|
|
Subsidiaries |
£ |
|
Cost or valuation |
|
|
At 1 September 2024 |
|
|
At 31 August 2025 |
|
|
Provision |
|
|
At 1 September 2024 |
- |
|
At 31 August 2025 |
- |
|
Carrying amount |
|
|
At 31 August 2025 |
|
|
At 31 August 2024 |
|
|
Debtors |
|
Group |
Company |
|||
|
2025 |
(As restated) |
2025 |
2024 |
|
|
Trade debtors |
|
|
|
|
|
Other debtors |
|
|
|
- |
|
Prepayments and accrued income |
|
|
|
|
|
|
|
|
|
|
LTC Group87 Limited
Notes to the Financial Statements
Year Ended 31 August 2025
|
Cash and cash equivalents |
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Cash on hand |
|
|
|
|
|
Cash at bank |
|
|
|
|
|
|
|
|
|
|
|
Creditors |
|
Group |
Company |
||||
|
Note |
2025 |
(As restated) |
2025 |
2024 |
|
|
Due within one year |
|||||
|
Loans and borrowings |
|
|
|
|
|
|
Trade creditors |
|
|
|
|
|
|
Amounts due to group undertakings |
- |
- |
|
|
|
|
Corporation tax |
513,423 |
335,044 |
89,948 |
136,052 |
|
|
Social security and other taxes |
|
|
|
|
|
|
Outstanding defined contribution pension costs |
|
|
|
|
|
|
Other creditors |
|
|
|
|
|
|
Accruals and deferred income |
|
|
|
|
|
|
|
|
|
|
||
|
Due after one year |
|||||
|
Loans and borrowings |
|
|
|
|
|
LTC Group87 Limited
Notes to the Financial Statements
Year Ended 31 August 2025
|
Loans and borrowings |
Non-current loans and borrowings
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Bank borrowings |
|
|
|
|
|
Hire purchase contracts |
|
|
|
|
|
|
|
|
|
|
Current loans and borrowings
|
Group |
Company |
|||
|
2025 |
2024 |
2025 |
2024 |
|
|
Bank borrowings |
|
|
|
|
|
Hire purchase contracts |
|
|
|
|
|
|
|
|
|
|
Group
Other borrowings
Hire purchase contracts are secured against the assets to which they relate.
Group and company
Bank borrowings
|
Bank borrowings are secured by debenture including: Fixed Charge over all present freehold and leasehold property; First Fixed Charge over book and other debts, chattels, goodwill and uncalled capital, both present and future; and First Floating Charge over all assets and undertaking both present and future. |
Other borrowings
Hire purchase contracts are secured against the assets to which they relate.
Included in the loans and borrowings are the following amounts due after more than five years:
|
2025 |
2024 |
|
|
After more than five years by instalments |
- |
|
|
- |
- |
LTC Group87 Limited
Notes to the Financial Statements
Year Ended 31 August 2025
|
Analysis of changes in net debt |
Group
|
At 1 September 2024 |
Financing cash flows |
Other non-cash changes |
At 31 August 2025 |
|
|
Cash and cash equivalents |
||||
|
Cash |
2,623,781 |
1,033,234 |
- |
3,657,015 |
|
Borrowings |
||||
|
Long term borrowings |
(1,252,236) |
- |
151,540 |
(1,100,696) |
|
Short term borrowings |
(174,292) |
155,202 |
(151,540) |
(170,630) |
|
Lease liabilities |
(804,842) |
165,610 |
- |
(639,232) |
|
(2,231,370) |
320,812 |
- |
(1,910,558) |
|
|
|
||||
|
|
|
- |
|
|
|
Obligations under leases and hire purchase contracts |
Group
Finance leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
Operating leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
- |
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
LTC Group87 Limited
Notes to the Financial Statements
Year Ended 31 August 2025
Company
Finance leases
The total of future minimum lease payments is as follows:
|
2025 |
2024 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
|
Provisions for liabilities |
Group
|
Deferred tax |
|
|
At 1 September 2024 |
|
|
Increase (decrease) in existing provisions |
( |
|
At 31 August 2025 |
|
|
|
|
Company
|
Deferred tax |
|
|
At 1 September 2024 |
|
|
Increase (decrease) in existing provisions |
( |
|
At 31 August 2025 |
|
|
|
|
|
Pension and other schemes |
Defined contribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £
Contributions totalling £
LTC Group87 Limited
Notes to the Financial Statements
Year Ended 31 August 2025
|
Share capital |
Allotted, called up and fully paid shares
|
2025 |
2024 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
9,500 |
|
9,500 |
|
Dividends |
|
2025 |
2024 |
|||
|
£ |
£ |
|||
|
Interim dividend of £ |
2,000,000 |
2,000,000 |
||
|
Related party transactions |
Group
The group has taken advantage of the exemption in FRS 102 "Related Party Disclosures" from disclosing transactions with wholly owned members of the group.
Key management compensation
|
2025 |
2024 |
|
|
Salaries and other short term employee benefits |
|
|
|
Transactions with directors |
|
2025 |
At 1 September 2024 |
Advances to director |
Repayments by director |
At 31 August 2025 |
|
Director 1 |
||||
|
Interest free, repayable on demand loan account |
- |
|
( |
|
|
Director 2 |
||||
|
Interest free, repayable on demand loan account |
- |
|
( |
- |
|
Director 3 |
||||
|
Interest free, repayable on demand loan account |
- |
|
( |
|
LTC Group87 Limited
Notes to the Financial Statements
Year Ended 31 August 2025
|
2024 |
At 1 September 2023 |
Advances to director |
Repayments by director |
At 31 August 2024 |
|
Director 1 |
||||
|
Interest free, repayable on demand loan account |
- |
|
( |
- |
|
Director 2 |
||||
|
Interest free, repayable on demand loan account |
|
|
( |
- |
|
Director 3 |
||||
|
Interest free, repayable on demand loan account |
|
|
( |
- |
Company
The company has taken advantage of the exemption in FRS 102 "Related Party Disclosures" from disclosing transactions with wholly owned members of the group.
|
Transactions with directors |
|
2025 |
At 1 September 2024 |
Advances to director |
Repayments by director |
At 31 August 2025 |
|
Director 1 |
||||
|
Interest free, repayable on demand loan account |
- |
|
( |
|
|
Director 2 |
||||
|
Interest free, repayable on demand loan account |
- |
|
( |
- |
LTC Group87 Limited
Notes to the Financial Statements
Year Ended 31 August 2025
|
2024 |
At 1 September 2023 |
Advances to director |
Repayments by director |
At 31 August 2024 |
|
Director 1 |
||||
|
Interest free, repayable on demand loan account |
- |
|
( |
- |
|
Director 2 |
||||
|
Interest free, repayable on demand loan account |
|
|
( |
- |
Dividends paid to directors
|
2025 |
2024 |
|||
|
The directors |
||||
|
Ordinary shares dividend |
2,000,000 |
2,000,000 |
||
|
Parent and ultimate parent undertaking |
The ultimate controlling party is