ACCOUNTS - Final Accounts preparation

Analysis of the maturity of loans is given below:

Registered number: 11623584

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2025

	LATHAM & TAYLOR LTD


LATHAM & TAYLOR LTD REGISTERED NUMBER:11623584

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		1,420		887
			1,420		887
Current assets
Stocks		44,480		44,300
Debtors: amounts falling due within one year	5	858		3,670
Cash at bank and in hand	6	4,227		11,712
		49,565		59,682
Creditors: amounts falling due within one year	7	(212,176)		(193,620)
Net current liabilities			(162,611)		(133,938)
Total assets less current liabilities			(161,191)		(133,051)
Creditors: amounts falling due after more than one year			(8,041)		(10,048)

Net liabilities			(169,232)		(143,099)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(169,332)	(143,199)
	(169,232)	(143,099)

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 1 October 2026.

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LATHAM & TAYLOR LTD REGISTERED NUMBER:11623584

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2025

................................................

Mr S A Taylor

Director

The notes on pages 3 to 6 form part of these financial statements.

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LATHAM & TAYLOR LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:

2 Bourton Hill Farm Cottage

Bourton Hill

Bourton On The Water

Cheltenham,

Gkoucestershire

GL54 2LF

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements have been prepared on a going concern basis.

At the balance sheet date, the company had net liabilities of £169,232. Included within the company's liabilities is an amount of £208,543 due to the directors.

The directors have confirmed that they do not intend to seek repayment of amounts due to them to the extent that such repayment would prejudice the company's ability to meet its liabilities as they fall due, and that they intend to continue to provide such financial support as may be necessary for the company to continue in operational existence.

Having considered the company's current financial position, expected future trading and the continued financial support of the directors, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they consider it appropriate to prepare the financial statements on the going concern basis.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

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LATHAM & TAYLOR LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles	-	25%	straight line
Fixtures and fittings	-	33%	straight line
Computer equipment	-	20%	straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 4 (2024 - 4).

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LATHAM & TAYLOR LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

4.	Tangible fixed assets

	Motor vehicles	Fixtures and fittings	Computer equipment	Total
	£	£	£	£
Cost or valuation
At 1 January 2025	31,667	19,958	4,038	55,663
Additions	-	636	-	636
At 31 December 2025	31,667	20,594	4,038	56,299
Depreciation
At 1 January 2025	31,667	19,958	3,151	54,776
Charge for the year	-	103	-	103
At 31 December 2025	31,667	20,061	3,151	54,879
Net book value
At 31 December 2025	-	533	887	1,420
At 31 December 2024	-	-	887	887

Debtors

					2025	2024
					£	£


Trade debtors	521	3,670
Other debtors	337	-
	858	3,670

6.	Cash and cash equivalents
		2025	2024
		£	£

Cash at bank and in hand	4,227	11,712
	4,227	11,712

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LATHAM & TAYLOR LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Bank loans	1,958	1,909
Other taxation and social security	-	78
Other creditors	208,543	190,283
Accruals and deferred income	1,675	1,350
	212,176	193,620

8.	Creditors: Amounts falling due after more than one year
		2025	2024
		£	£

Bank loans	8,041	10,048
	8,041	10,048

Amounts falling due within one year
Bank loans	1,958	1,909
	1,958	1,909
Amounts falling due 1-2 years
Bank loans	8,041	10,048
	8,041	10,048


	9,999	11,957

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