REGISTERED NUMBER: 04947404 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2025

for

Lincolnshire Office Friends Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R J Mearns

Mrs M J Mearns

REGISTERED OFFICE:

King Edward Street

Grimsby

N E Lincolnshire

DN31 3LA

REGISTERED NUMBER:

04947404 (England and Wales)

BANKERS:

HSBC Bank Plc

55 Victoria Street

Grimsby

N E Lincolnshire

DN31 1UX

FIXED ASSETS

Intangible assets

4

16,333

-

Tangible assets

5

532,049

477,391

Investments

6

50

10,052

548,432

487,443

CURRENT ASSETS

Stocks

131,722

139,462

Debtors

7

1,204,326

1,058,737

Cash at bank and in hand

535,049

443,897

1,871,097

1,642,096

CREDITORS

Amounts falling due within one year

8

1,084,859

892,882

NET CURRENT ASSETS

786,238

749,214

TOTAL ASSETS LESS CURRENT LIABILITIES

1,334,670

1,236,657

CREDITORS

Amounts falling due after more than one year

9

(194,424

)

(233,653

)

PROVISIONS FOR LIABILITIES

(50,080

)

(39,553

)

NET ASSETS

1,090,166

963,451

CAPITAL AND RESERVES

Called up share capital

1,006

1,006

Retained earnings

10

1,089,160

962,445

SHAREHOLDERS' FUNDS

1,090,166

963,451

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 May 2026 and were signed on its behalf by:

R J Mearns - Director

1.	STATUTORY INFORMATION

Lincolnshire Office Friends 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

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. The valuation of stocks is based on the original cost plus other direct costs incurred on a first in first out basis.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 22 (2024 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2024

208,000

Additions

20,000

At 30 November 2025

228,000

AMORTISATION

At 1 December 2024

208,000

Charge for year

3,667

At 30 November 2025

211,667

NET BOOK VALUE

At 30 November 2025

16,333

At 30 November 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Office

and

Property

Equipment

fittings

£

£

£

COST

At 1 December 2024

269,209

17,621

88,235

Additions

-

2,034

4,206

Disposals

-

-

-

At 30 November 2025

269,209

19,655

92,441

DEPRECIATION

At 1 December 2024

-

2,410

45,388

Charge for year

-

3,042

4,284

Eliminated on disposal

-

-

-

At 30 November 2025

-

5,452

49,672

NET BOOK VALUE

At 30 November 2025

269,209

14,203

42,769

At 30 November 2024

269,209

15,211

42,847

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 December 2024

255,050

26,924

657,039

Additions

105,510

3,260

115,010

Disposals

(32,173

)

-

(32,173

)

At 30 November 2025

328,387

30,184

739,876

DEPRECIATION

At 1 December 2024

113,513

18,337

179,648

Charge for year

40,997

4,158

52,481

Eliminated on disposal

(24,302

)

-

(24,302

)

At 30 November 2025

130,208

22,495

207,827

NET BOOK VALUE

At 30 November 2025

198,179

7,689

532,049

At 30 November 2024

141,537

8,587

477,391

In the opinion of the Directors the Freehold Property had a value in excess of the balance sheet value.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 December 2024

and 30 November 2025

109,175

DEPRECIATION

At 1 December 2024

22,367

Charge for year

21,702

At 30 November 2025

44,069

NET BOOK VALUE

At 30 November 2025

65,106

At 30 November 2024

86,808

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 December 2024

295,052

Disposals

(295,002

)

At 30 November 2025

50

PROVISIONS

At 1 December 2024

285,000

Eliminated on disposal

(285,000

)

At 30 November 2025

-

NET BOOK VALUE

At 30 November 2025

50

At 30 November 2024

10,052

The company owns 50% of the issued share capital of Office Friends Systems Ltd.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Trade debtors

992,023

843,954

Other debtors

207,178

207,950

Prepayments

5,125

6,833

1,204,326

1,058,737

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

£

Bank loans and overdrafts

14,500

12,000

Hire purchase contracts

22,094

22,094

Trade creditors

816,134

727,798

Other creditors

3,673

2,644

Intercompany account

-

10,002

Tax

99,628

87,860

Social security and other taxes

32,231

23,419

VAT

83,318

53,913

Factoring account

(76,868

)

(102,504

)

Directors' current accounts

84,149

55,656

Accrued expenses

6,000

-

1,084,859

892,882

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.25

30.11.24

£

£

Bank loans - 1-2 years

169,773

186,908

Hire purchase contracts

24,651

46,745

194,424

233,653

10.

RESERVES

Retained

earnings

£

At 1 December 2024

962,445

Profit for the year

405,975

Dividends

(279,260

)

At 30 November 2025

1,089,160

11.	ULTIMATE CONTROLLING PARTY

On 29 October 2024 Office Friends Holdings Ltd acquired 50% of the issued share capital. Office Friends Holdings is 100% owned by the 2 directors and does not trade.