Laceworks Living Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 13044057

Laceworks Living Limited

Filleted Financial Statements

30 June 2025

Laceworks Living Limited

Statement of Financial Position

30 June 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	5	3,056	188

Current assets

Stocks		1,576,355	523,791
Debtors	6	1,041,893	559,750
Cash at bank and in hand		162,815	122,171
		------------	------------
		2,781,063	1,205,712

Creditors: amounts falling due within one year	7	( 2,151,903)	( 827,651)
		------------	------------
Net current assets		629,160	378,061
		---------	---------
Total assets less current liabilities		632,216	378,249
		---------	---------
Net assets		632,216	378,249
		---------	---------

Capital and reserves

Called up share capital	8	400,100	400,100
Profit and loss account		232,116	( 21,851)
		---------	---------
Shareholders funds		632,216	378,249
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

These financial statements were approved by the board of directors and authorised for issue on 11 June 2026 , and are signed on behalf of the board by:

J S Brent

Director

Company registration number: 13044057

Laceworks Living Limited

Notes to the Financial Statements

Year ended 30 June 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Balliol House, Southernhay Gardens, Exeter, Devon, EX1 1NP, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The accounts have been prepared on a going concern basis and the directors consider this to be appropriate.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% straight line
Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

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 entity after deducting all of its financial liabilities.

4. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	–	54,000
	----	--------
Tax on profit	–	54,000
	----	--------

5. Tangible assets

	Plant and machinery	Equipment	Total
	£	£	£
Cost
At 1 July 2024	–	194	194
Additions	3,500	–	3,500
	-------	----	-------
At 30 June 2025	3,500	194	3,694
	-------	----	-------
Depreciation
At 1 July 2024	–	6	6
Charge for the year	568	64	632
	-------	----	-------
At 30 June 2025	568	70	638
	-------	----	-------
Carrying amount
At 30 June 2025	2,932	124	3,056
	-------	----	-------
At 30 June 2024	–	188	188
	-------	----	-------

6. Debtors

	2025	2024
	£	£
Trade debtors	22,989	–
Amounts owed by group undertakings	732,944	87,045
Prepayments and accrued income	207,451	344,349
Corporation tax repayable	10,750	–
Other debtors	67,759	128,356
	------------	---------
	1,041,893	559,750
	------------	---------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	742,602	–
Trade creditors	227,587	505,998
Amounts owed to group undertakings	1,074,230	246,229
Accruals and deferred income	28,032	–
Corporation tax	–	54,000
Social security and other taxes	20,208	–
Other creditors	59,244	21,424
	------------	---------
	2,151,903	827,651
	------------	---------

8. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	400,100	400,100	400,100	400,100
	---------	---------	---------	---------

9. Other financial commitments

On 14 December 2023 a charge in favour of Downing LLP was issued secured on the company's freehold land.

10. Summary audit opinion

The auditor's report dated 23 June 2026 was unqualified .

The senior statutory auditor was Stewart Jell , for and on behalf of Moore Kingston Smith LLP .

11. Related party transactions

The ultimate parent company is Natatomisam Limited, a company incorporated in Great Britain. Consolidated accounts are available from the registered office. The ultimate controlling parties are J S Brent and N H Brent by virtue of their individual shareholdings therein. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102.

12. Controlling party

The immediate and ultimate parent company is Natatomisam Limited whose registered office is Balliol House, Southernhay Gardens, Exeter, Devon, EX1 1NP, a company of which James Brent is a director.