REGISTERED NUMBER: 12256924 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

LOCKEY FARM (DESFORD) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

P C Thomas

Mrs S A T Prince

REGISTERED OFFICE:

Lockey Farm

Hunts Lane

Desford

Leicestershire

LE9 9HE

REGISTERED NUMBER:

12256924 (England and Wales)

ACCOUNTANTS:

PWH Accountancy Ltd

The Counting House

High Street

Lutterworth

Leicestershire

LE17 4AY

FIXED ASSETS

Intangible assets

5

11,931

48,689

Tangible assets

6

762,615

782,310

774,546

830,999

CURRENT ASSETS

Stocks

27,465

24,987

Debtors

7

23,231

16,394

Cash at bank

31,278

28,717

81,974

70,098

CREDITORS

Amounts falling due within one year

8

66,962

61,832

NET CURRENT ASSETS

15,012

8,266

TOTAL ASSETS LESS CURRENT LIABILITIES

789,558

839,265

CREDITORS

Amounts falling due after more than one year

9

(1,041,202

)

(1,070,032

)

PROVISIONS FOR LIABILITIES

11

(3,840

)

(3,454

)

NET LIABILITIES

(255,484

)

(234,221

)

CAPITAL AND RESERVES

Called up share capital

12

100

100

Retained earnings

13

(255,584

)

(234,321

)

SHAREHOLDERS' FUNDS

(255,484

)

(234,221

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 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 1 July 2026 and were signed on its behalf by:

Mrs S A T Prince - Director

P C Thomas - Director

1.	STATUTORY INFORMATION

Lockey Farm (Desford) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered relevant, Actual results may differ from these estimates.

Turnover

Revenue comprises the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Revenue is shown net of VAT and trade discounts.

The company 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 company's activities. The amount of revenue is not considered to be reliably measurable until all contingencies relating to the sale have been resolved. The company bases its estimates on historical results, taking into consideration the type of customer, the type of transaction and the specifics of each arrangement.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of businesses acquired in 2021, 2022 and 2025, 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.

Freehold property

-

2% on cost

Plant and machinery

-

15% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial assets

Receivables are stated at amortised cost using the effective interest rate method. A provision for impairment of receivables is established where there is objective evidence that the company will not be able to collect all amounts due according to the original terms of payment. Receivables are considered for impairment on a case by case basis and any provision is based on the directors' assessment of the amount recoverable on each receivable.

Financial liabilities

The company's financial liabilities include trade and other payables, which are measured at amortised cost using the effective interest rate method. Financial liabilities are recognised when the company becomes a party to the contractual agreements of the instrument. Interest-related charges are recognised as an expense in the period in which they are incurred.

Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2025 - 2 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2025

and 31 March 2026

337,293

AMORTISATION

At 1 April 2025

288,604

Amortisation for year

36,758

At 31 March 2026

325,362

NET BOOK VALUE

At 31 March 2026

11,931

At 31 March 2025

48,689

6.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2025

843,618

28,815

12,830

379

885,642

Additions

-

134

-

274

408

At 31 March 2026

843,618

28,949

12,830

653

886,050

DEPRECIATION

At 1 April 2025

79,489

14,784

8,770

289

103,332

Charge for year

16,872

2,125

1,015

91

20,103

At 31 March 2026

96,361

16,909

9,785

380

123,435

NET BOOK VALUE

At 31 March 2026

747,257

12,040

3,045

273

762,615

At 31 March 2025

764,129

14,031

4,060

90

782,310

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

13,341

9,471

Other debtors

7,385

4,423

VAT

5

-

Prepayments

2,500

2,500

23,231

16,394

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Other loans

33,590

30,140

Tax

20,459

17,355

VAT

-

1,424

Directors' current accounts

11,023

11,023

Accrued expenses

1,890

1,890

66,962

61,832

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Other loans - 1-2 years

34,800

30,140

Other loans - 2-5 years

112,200

90,420

Other loans more 5yrs instal

209,202

271,472

Other loans more 5yrs non-inst

685,000

678,000

1,041,202

1,070,032

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

685,000

678,000

Repayable by instalments

Other loans more 5yrs instal

209,202

271,472

10.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

£

Other loans

-

422,172

At 31 March 2026. loans totalling £389,792 (2025 £422,172) were secured by a fixed and floating charge over the company's assets.

11.	PROVISIONS FOR LIABILITIES

2026

2025

£

£

Deferred tax

3,840

3,454

Deferred

tax

£

Balance at 1 April 2025

3,454

Charge to Income Statement during year

386

Balance at 31 March 2026

3,840

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

£

85

Ordinary

£1

85

85

15

B Ordinary

£1

15

15

100

100

The Ordinary shares carry full voting rights, rights to dividends and rights to participate in the proceeds of any winding up. The B Ordinary shares carry rights to dividends only.

13.

RESERVES

Retained

earnings

£

At 1 April 2025

(234,321

)

Deficit for the year

(21,263

)

At 31 March 2026

(255,584

)

14.	RELATED PARTY DISCLOSURES

Included within creditors on the Balance Sheet is a loan of £685,000 (2025 £678,000 from Over he Top Textiles Limited, a company owned and controlled by the director Mrs S A T Prince.

15.	ULTIMATE CONTROLLING PARTY

The directors Mr P Thomas and Mrs S A Thomas Prince act as the controlling party by reason of their controlling interest in the shares of the company.