Lydney Securities Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

1. General Information

Lydney Securities Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07112228 . The registered office is Unit 143, Harbour Road Industrial Estate, Lydney, Glos, GL15 4EJ.

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. 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:

Freehold	None
Plant & Machinery	35% straight line
Motor Vehicles	30% straight line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Financial Instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable 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 profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

...CONTINUED

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Lydney Securities Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

2.5. Financial Instruments - continued

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

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 year 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.

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

2.7. Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

2.8. Dividends

Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 4 (2025: 4)

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Lydney Securities Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

4. Tangible Assets

	Land & Property
	Freehold	Plant & Machinery	Motor Vehicles	Total
	£	£	£	£
Cost
As at 1 February 2025	282,995	90,392	436,278	809,665
Additions	522,913	-	74,885	597,798
Disposals	-	-	(43,714 )	(43,714 )

As at 31 January 2026	805,908	90,392	467,449	1,363,749

Depreciation
As at 1 February 2025	-	85,402	318,442	403,844
Provided during the period	1,029	4,440	67,500	72,969
Disposals	-	-	(35,524 )	(35,524 )

As at 31 January 2026	1,029	89,842	350,418	441,289

Net Book Value
As at 31 January 2026	804,879	550	117,031	922,460

As at 1 February 2025	282,995	4,990	117,836	405,821

5. Investments

	Other
	£
Cost or Valuation
As at 1 February 2025	25,300

As at 31 January 2026	25,300

Provision
As at 1 February 2025	-

As at 31 January 2026	-

Net Book Value
As at 31 January 2026	25,300

As at 1 February 2025	25,300

Details of Undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital as follows:

TPS Industrial Property (Lydney) Ltd

Registered office: Unit 143, Lydney Industrial Estate, Harbour Road, Lydney, GL15 4EJ, England
Holding: Ordinary
Proportion of voting rights and shares held: 100% (2025 - 100%)

TPS Gates & Doors Limited

Registered office: Unit 143, Lydney Industrial Estate, Harbour Road, Lydney, GL15 4EJ, England

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Lydney Securities Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

5. Investments - continued

Holding: Ordinary & redeemable preference
Proportion of voting rights and shares held: 100% (2025 - 100%)

TPS (Lydney) Ltd

Registered office: Unit 143, Lydney Industrial Estate, Harbour Road, Lydney, GL15 4EJ, England
Holding: Ordinary
Proportion of voting rights and shares held: 100% (2025 - 100%)

6. Debtors

	2026	2025
	£	£
Due within one year
Prepayments and accrued income	70,821	70,801
Directors' loan accounts	-	1,934
Amounts owed by group undertakings payable on demand	757,378	593,100

	828,199	665,835

7. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	30,514	43,134
Trade creditors	3,516	2,583
Corporation tax	219,054	151,353
VAT	2,777	4,044
Other creditors	90,000	85,000
Accruals and deferred income	202,330	92,320
Directors' loan accounts	-	8,157
Amounts owed to group undertakings payable on demand	9,871	10,500

	558,062	397,091

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

	2026	2025
	£	£
Net obligations under finance lease and hire purchase contracts	48,957	52,996

9. Obligations Under Finance Leases and Hire Purchase

	2026	2025
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	30,514	43,134
Later than one year and not later than five years	48,957	52,996

	79,471	96,130

	79,471	96,130

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Lydney Securities Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 January 2026

10. Share Capital

	2026	2025
Allotted, called up and fully paid	£	£
50 Ordinary A shares of £ 1.000 each	50	50
50 Ordinary B shares of £ 1.000 each	50	50
50 Ordinary C shares of £ 1.000 each	50	50

	150	150

Preference Shares

	2026	2025
Allotted, called up and fully paid	£	£
25,000 Preference Shares of £ 1.000 each	25,000	25,000

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		922,460		405,821
Investments	5		25,300		25,300

			947,760		431,121
CURRENT ASSETS
Debtors	6	828,199		665,835
Cash at bank and in hand		661,872		809,190

		1,490,071		1,475,025
Creditors: Amounts Falling Due Within One Year	7	(558,062 )		(397,091 )

NET CURRENT ASSETS (LIABILITIES)			932,009		1,077,934

TOTAL ASSETS LESS CURRENT LIABILITIES			1,879,769		1,509,055

Creditors: Amounts Falling Due After More Than One Year	8		(48,957 )		(52,996 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(20,222 )		(27,803 )

NET ASSETS			1,810,590		1,428,256

CAPITAL AND RESERVES
Called up share capital	10		25,150		25,150
Profit and Loss Account			1,785,440		1,403,106

SHAREHOLDERS' FUNDS			1,810,590		1,428,256