Lincolnshire Flooring Contracts Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 02436969 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

Lincolnshire Flooring Contracts 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:

02436969 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

15 Newland

Lincoln

Lincolnshire

LN1 1XG

FIXED ASSETS

Tangible assets

4

372,587

357,373

CURRENT ASSETS

Stocks

98,073

55,283

Debtors

5

313,775

475,041

Cash at bank and in hand

14,336

56,960

426,184

587,284

CREDITORS

Amounts falling due within one year

6

269,305

170,203

NET CURRENT ASSETS

156,879

417,081

TOTAL ASSETS LESS CURRENT
LIABILITIES

529,466

774,454

PROVISIONS FOR LIABILITIES

29,366

23,757

NET ASSETS

500,100

750,697

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

500,000

750,597

500,100

750,697

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 Contracts 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% - 10% on cost

Plant and machinery: 15% reducing balance

Motor vehicles: 25% reducing balance

Fixtures and fittings: 25% reducing balance

25% - 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 - 29 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Land and

Plant and

and

Motor

Buildings

machinery

fittings

vehicles

Totals

£

COST

At 1 January 2025

342,628

36,330

22,808

199,772

601,538

Additions

-

1,035

8,345

71,793

81,173

Disposals

-

(49,347

)

(49,347

)

At 31 December 2025

342,628

37,365

31,153

222,218

633,364

DEPRECIATION

At 1 January 2025

94,710

29,089

22,437

97,929

244,165

Charge for year

6,357

1,229

4,095

37,759

49,440

Eliminated on disposal

-

(32,828

)

(32,828

)

At 31 December 2025

101,067

30,318

26,532

102,860

260,777

NET BOOK VALUE

At 31 December 2025

241,561

7,047

4,621

119,358

372,587

At 31 December 2024

247,918

7,241

371

101,843

357,373

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

300,273

444,067

Amounts owed by group undertakings

1,066

12,727

Other debtors

12,436

18,247

313,775

475,041

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

144,344

52,640

Amounts owed to group undertakings

63,936

-

Taxation and social security

57,875

107,261

Other creditors

3,150

10,302

269,305

170,203

7.	CONTINGENT LIABILITIES

With reference to the related party note, the maximum value of the security given amounts to the net assets of the company, or the balance on the loan notes, whichever is lowest.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2025 and 31 December 2024:

2025

2024

£

Z C Jefferson

Balance outstanding at start of year

4,238

4,412

Amounts advanced

13,169

4,326

Amounts repaid

(17,407

)

(4,500

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

4,238

Mrs D K Smith

Balance outstanding at start of year

4,149

4,325

Amounts advanced

5,230

4,324

Amounts repaid

(9,379

)

(4,500

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

4,149

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 Company (1977) 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 Contracts 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.