ACCOUNTS - Final Accounts preparation

Creditors: Amounts falling due within one year

Registered number: 14396264

LEPUS (NOTTINGHAM) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2024 TO 2 SEPTEMBER 2025

LEPUS (NOTTINGHAM) LIMITED

REGISTERED NUMBER: 14396264

STATEMENT OF FINANCIAL POSITION

AS AT 2 SEPTEMBER 2025

	2 September	31 March
	2025	2024
Note	£	£


Current assets
Stocks		-		750
Debtors: amounts falling due within one year	5	67,023		65,019
Cash at bank and in hand		12,389		9,908
		79,412		75,677
Creditors: amounts falling due within one year	6	(57,430)		(414,982)
Net current assets/(liabilities)			21,982		(339,305)
Total assets less current liabilities			21,982		(339,305)

Net assets/(liabilities)			21,982		(339,305)

Capital and reserves
Called up share capital	10	10
Profit and loss account	21,972	(339,315)
	21,982	(339,305)

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LEPUS (NOTTINGHAM) LIMITED

REGISTERED NUMBER: 14396264

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 2 SEPTEMBER 2025

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

G Kane

Director

Date: 29 May 2026

The notes on pages 3 to 8 form part of these financial statements.

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LEPUS (NOTTINGHAM) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 2 SEPTEMBER 2025

1.	General information

Lepus (Nottingham) Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Turnover

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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LEPUS (NOTTINGHAM) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 2 SEPTEMBER 2025

2.Accounting policies (continued)

2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

2.4

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.5

Goodwill

Goodwill being the amount paid in connection with the acquisition of the business has been fully amortised in the period of acquisition.

The company acquired the goodwill from a third party in June 2023, the directors deem the goodwill to have no long term value, therefore it has been amortised fully in the year of acquisition.

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

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LEPUS (NOTTINGHAM) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 2 SEPTEMBER 2025

2.Accounting policies (continued)

2.7

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

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LEPUS (NOTTINGHAM) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 2 SEPTEMBER 2025

3.	Employees and directors

The average monthly number of employees, including directors, during the period was 3 (2024 - 4).

4.	Intangible assets

		Goodwill
		£
	Cost
	At 1 April 2024	221,514
	Additions	2,993
	At 2 September 2025	224,507
	Amortisation
	At 1 April 2024	221,514
	Charge for the period on owned assets	2,993
	At 2 September 2025	224,507
	Net book value
	At 2 September 2025	-
	At 31 March 2024	-

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LEPUS (NOTTINGHAM) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 2 SEPTEMBER 2025

Debtors

					2 September	31 March
					2025	2024
					£	£


Trade debtors	50,376	14,753
Other debtors	16,647	10,999
Deferred taxation	-	39,267
	67,023	65,019

Trade creditors	3,780	146,209
Amounts owed to group undertakings	-	104,016
Other taxation and social security	-	13,766
Other creditors	53,650	150,991
	57,430	414,982

7.	Deferred taxation

		2025
		£

	At beginning of year	39,267
	Charged to profit or loss	(39,267)
	At end of year	-

	Losses and other deductions	-	39,267
		-	39,267

Page 7

LEPUS (NOTTINGHAM) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 2 SEPTEMBER 2025

Allotted, called up and fully paid

1,000 (2024 - 1,000) Ordinary shares of £0.01 each	10	10

9.	Controlling party

The ultimate parent company is Home Improvements Holdings Limited. The directors do not consider there to be an ultimate controlling party of Home Improvements Holdings Limited.

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