Letcheck Inventories Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 05168352

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		50,523		61,266
Tangible Assets	5		4,699		3,786

			55,222		65,052
CURRENT ASSETS
Debtors	6	282,263		261,803
Cash at bank and in hand		14,567		19,660

		296,830		281,463
Creditors: Amounts Falling Due Within One Year	7	(189,657 )		(195,871 )

NET CURRENT ASSETS (LIABILITIES)			107,173		85,592

TOTAL ASSETS LESS CURRENT LIABILITIES			162,395		150,644

Creditors: Amounts Falling Due After More Than One Year	8		(68,126 )		(73,451 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(1,175 )		(1,200 )

NET ASSETS			93,094		75,993

CAPITAL AND RESERVES
Called up share capital	9		67,900		67,900
Profit and Loss Account			25,194		8,093

SHAREHOLDERS' FUNDS			93,094		75,993

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Letcheck Inventories Limited

Balance Sheet (continued)

As At 31 March 2026

For the year ending 31 March 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Adrian Kelly

Director

15/07/2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Letcheck Inventories Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05168352 . The registered office is Pool Innovation Centre, Trevenson Road, Pool, Redruth, Cornwall, E17 3NU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to the profit and loss account over its estimated economic life of 4 years.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets are software development. The costs are amortised to the profit and loss account over its estimated economic life of on a 20% reducing balance basis.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

33% reducing balance

2.6. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

...CONTINUED

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Letcheck Inventories Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.6. Taxation - continued

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 12 (2025: 12)

4. Intangible Assets

	Goodwill	Other	Total
	£	£	£
Cost
As at 1 April 2025	57,612	68,593	126,205
Additions	-	500	500

As at 31 March 2026	57,612	69,093	126,705

Amortisation
As at 1 April 2025	57,612	7,327	64,939
Provided during the period	-	11,243	11,243

As at 31 March 2026	57,612	18,570	76,182

Net Book Value
As at 31 March 2026	-	50,523	50,523

As at 1 April 2025	-	61,266	61,266

5. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 April 2025	23,775
Additions	2,395

As at 31 March 2026	26,170

Depreciation
As at 1 April 2025	19,989
Provided during the period	1,482

As at 31 March 2026	21,471

Net Book Value
As at 31 March 2026	4,699

As at 1 April 2025	3,786

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Letcheck Inventories Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

6. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	79,323	60,509
Amounts owed by participating interests	156,923	156,925
Other debtors	3,143	1,495

	239,389	218,929
Due after more than one year
Other debtors	42,874	42,874

	282,263	261,803

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	18,888	16,387
Bank loans and overdrafts	49,721	39,600
Other loans	19,550	37,159
Other creditors	2,815	2,397
Taxation and social security	98,683	100,328

	189,657	195,871

8. Creditors: Amounts Falling Due After More Than One Year

	2026	2025
	£	£
Bank loans	17,883	31,647
Other loans	33,532	41,804
Taxation and social security	16,711	-

	68,126	73,451

9. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	67,900	67,900

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2026
	£	£	£	£	£
Mr Adrian Kelly	156,926	-	-	-	156,926

The above loan is held joinly with the directors wife and company secretary, Melanie Godolphin-Kelly and is unsecured, interest free and repayable on demand.

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