REGISTERED NUMBER: 01298488 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

Lincolnshire Flooring Company (1977)

Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Z C Jefferson

REGISTERED OFFICE:

Outer Circle Road

Lincoln

Lincolnshire

LN2 4HS

REGISTERED NUMBER:

01298488 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

FIXED ASSETS

Tangible assets

4

370,285

412,413

CURRENT ASSETS

Stocks

134,021

169,520

Debtors

5

422,794

290,759

Cash at bank and in hand

407,493

895,480

964,308

1,355,759

CREDITORS

Amounts falling due within one year

6

302,311

367,233

NET CURRENT ASSETS

661,997

988,526

TOTAL ASSETS LESS CURRENT LIABILITIES

1,032,282

1,400,939

PROVISIONS FOR LIABILITIES

32,182

41,124

NET ASSETS

1,000,100

1,359,815

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

1,000,000

1,359,715

SHAREHOLDERS' FUNDS

1,000,100

1,359,815

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 14 July 2026 and were signed by:

Z C Jefferson - Director

1.	STATUTORY INFORMATION

Lincolnshire Flooring Company (1977) 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.

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% reducing balance

Motor vehicles: 25% reducing balance

Fixtures and fittings: 25% reducing balance

50% on cost

Land held within freehold property is not being depreciated.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

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.

Operating lease income

Rental income is recognised in the profit and loss account under other income on an accruals basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 26 (2024 - 37 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Land and

Plant and

and

Motor

Buildings

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 January 2025

348,776

62,877

31,899

227,930

671,482

Additions

-

-

9,610

33,679

43,289

Disposals

-

-

-

(59,825

)

(59,825

)

At 31 December 2025

348,776

62,877

41,509

201,784

654,946

DEPRECIATION

At 1 January 2025

100,859

51,525

30,019

76,666

259,069

Charge for year

6,359

1,703

6,092

39,956

54,110

Eliminated on disposal

-

-

-

(28,518

)

(28,518

)

At 31 December 2025

107,218

53,228

36,111

88,104

284,661

NET BOOK VALUE

At 31 December 2025

241,558

9,649

5,398

113,680

370,285

At 31 December 2024

247,917

11,352

1,880

151,264

412,413

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

409,456

280,633

Other debtors

13,338

10,126

422,794

290,759

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

111,277

175,948

Amounts owed to group undertakings

97,220

12,726

Taxation and social security

86,791

167,371

Other creditors

7,023

11,188

302,311

367,233

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

8.	CONTINGENT LIABILITIES

In reference to the related party note, the maximum amount of security given amounts to the net assets of the company.

9.	RELATED PARTY DISCLOSURES

The company is part of a group of four companies (formed 23 January 2025), of which the ultimate parent company is Jefferson Asset Management Lincoln Ltd, and the holding company is Lincolnshire Flooring Holdings Limited. During the year, the company carried on trading activities with Lincolnshire Flooring Contracts Limited. Mr Z C Jefferson is director of both Lincolnshire Flooring Contracts Limited and Lincolnshire Flooring Company (1977) Limited.

Prior to this financial year, the group structure consisted of Lincolnshire Flooring Holdings as the ultimate parent company, with Lincolnshire Flooring Contracts Limited and Lincolnshire Flooring Company (1977) Limited as two subsidiaries. On formation of this group structure (formed 18 May 2017), security was provided by Lincolnshire Flooring Company (1977) Limited in order to guarantee certain obligations of the parent company, Lincolnshire Flooring Holdings Limited. The charges, which have a balance of £872,247 at the year end (2024: £1,222,189), owed to Mr G H Jefferson and Mr M J Jefferson, former directors, are by way of legal mortgage over all present and future freehold property, land and buildings, and a fixed and floating charge over all other available assets of the company, together with comprehensive controls over the company's management for the duration of the agreement the loan notes will remain in place until 2028 and are repayable quarterly until the maturity date. Interest is being paid on these loan notes at 3% above the Bank of England base rate.