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LERWICK FINANCIAL GROUP LIMITED

Registered Number
07195168
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2026

LERWICK FINANCIAL GROUP LIMITED
Company Information
for the year from 1 May 2025 to 30 April 2026

Directors | PLATTS, Geoffrey Nigel Graham
| PLATTS, Tracey Katherine

Registered Address | Summit House
| 10 Waterside Court
| City Of Newport
| NP20 5NT

Registered Number | 07195168 (England and Wales)

LERWICK FINANCIAL GROUP LIMITED
Statement of Financial Position
30 April 2026

| Notes | 2026 |  | 2025
--- | --- | --- | --- | ---
|  | £ |  | £ |  | £ |  | £
Fixed assets |  |  |  |  |  |  |  |
Tangible assets | 4 |  |  | 1,365 |  |  |  | 626
|  |  |  | 1,365 |  |  |  | 626
Current assets |  |  |  |  |  |  |  |
Stocks | 5 | - |  |  |  | 4,495 |  |
Debtors | 6 | 15,774 |  |  |  | 24,460 |  |
Cash at bank and on hand |  | 9,148 |  |  |  | 21,950 |  |
|  | 24,922 |  |  |  | 50,905 |  |
Creditors amounts falling due within one year | 7 | (8,969) |  |  |  | (19,114) |  |
Net current assets (liabilities) |  |  |  | 15,953 |  |  |  | 31,791
Total assets less current liabilities |  |  |  | 17,318 |  |  |  | 32,417
Creditors amounts falling due after one year | 8 |  |  | (11,508) |  |  |  | (14,326)
Net assets |  |  |  | 5,810 |  |  |  | 18,091
Capital and reserves |  |  |  |  |  |  |  |
Called up share capital |  |  |  | 25,000 |  |  |  | 25,000
Profit and loss account |  |  |  | (19,190) |  |  |  | (6,909)
Shareholders' funds |  |  |  | 5,810 |  |  |  | 18,091

- The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
- The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
- The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
- These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
- The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 5 June 2026, and are signed on its behalf by:
PLATTS, Geoffrey Nigel Graham Director Registered Company No. 07195168

LERWICK FINANCIAL GROUP LIMITED
Notes to the Financial Statements
for the year ended 30 April 2026

1. | Accounting policies
--- | ---

| Statutory information
--- | ---
| The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

| Statement of compliance
--- | ---
| The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

| Basis of preparation
--- | ---
| The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

| Turnover policy
--- | ---
| Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

| Revenue from sale of goods
--- | ---
| Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

| Interest income
--- | ---
| Interest income is recognised using the effective interest rate method.

| Foreign currency translation
--- | ---
| Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

| Current taxation
--- | ---
| Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

| Deferred tax
--- | ---
| Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

| Intangible assets
--- | ---
| Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

| Tangible fixed assets and depreciation
--- | ---
| All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

| Impairment of non-financial assets policy
--- | ---
| Assets which are not carried at fair value are reviewed for evidence of impairment at each reporting date. Where the asset is showing indicators of impairment, the recoverable amount of the asset, is estimated and then compared to the carrying value in the financial statements. Where the carrying amount is in excess of recoverable amount, an impairment loss is recognised in profit or loss.

| Stocks and work in progress
--- | ---
| Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

| Trade and other debtors
--- | ---
| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

| Cash and cash equivalents
--- | ---
| Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.

| Trade and other creditors
--- | ---
| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

| Financial instruments
--- | ---
| A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

| Share capital
--- | ---
| Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2. | Average number of employees
--- | ---

|  | 2026 |  | 2025
| Average number of employees during the year | 0 |  | 0

3. | Deferred tax
--- | ---
| Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.

4. | Tangible fixed assets
--- | ---

|  | Office Equipment |  | Total
--- | --- | --- | --- | ---
|  | £ |  | £
| Cost or valuation
| At 01 May 25 | 1,762 |  | 1,762
| Additions | 960 |  | 960
| At 30 April 26 | 2,722 |  | 2,722
| Depreciation and impairment
| At 01 May 25 | 1,136 |  | 1,136
| Charge for year | 221 |  | 221
| At 30 April 26 | 1,357 |  | 1,357
| Net book value
| At 30 April 26 | 1,365 |  | 1,365
| At 30 April 25 | 626 |  | 626

5. | Stocks
--- | ---

|  | 2026 |  | 2025
--- | --- | --- | --- | ---
|  | £ |  | £
| Work in progress | - |  | 4,495
| Total | - |  | 4,495

6. | Debtors: amounts due within one year
--- | ---

|  | 2026 |  | 2025
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade debtors / trade receivables | 15,774 |  | 23,850
| Prepayments and accrued income | - |  | 610
| Total | 15,774 |  | 24,460

7. | Creditors: amounts due within one year
--- | ---

|  | 2026 |  | 2025
--- | --- | --- | --- | ---
|  | £ |  | £
| Trade creditors / trade payables | 910 |  | 9,714
| Bank borrowings and overdrafts | 3,136 |  | 2,870
| Taxation and social security | 2,353 |  | 3,530
| Accrued liabilities and deferred income | 2,570 |  | 3,000
| Total | 8,969 |  | 19,114

8. | Creditors: amounts due after one year
--- | ---

|  | 2026 |  | 2025
--- | --- | --- | --- | ---
|  | £ |  | £
| Bank borrowings and overdrafts | 11,508 |  | 14,326
| Total | 11,508 |  | 14,326

9. | Financial instruments
--- | ---
| The carrying amount for each category of financial instrument is as follows: Financial assets measured at fair value through profit or loss for the year ended 30 April 2026 is £24,603 (2025: £46,358). Financial liabilities measured at fair value through profit or loss for the year ended 30 April 2026 is £18,236 (2025: £29,858).

10. | Directors advances, credits and guarantees
--- | ---
| The directors operates a current loan account with the company, which is debited with payments made by the company on behalf of the directors and credited with funds introduced and undrawn director's fees. At the year end, the amount outstanding from the directors was £11,682 (2025: £52); this amount being included in debtors: amounts falling within one year.