Registration number: 11615723

Louth Market Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 8

Louth Market Limited

Company Information

Directors

R L C Jeanes S M S Williams L Turner

Registered office

Cornmarket Louth Lincolnshire LN11 9QD

Solicitors

Bridge McFarland 19 South St. Mary's Gate Grimsby North East Lincolnshire DN31 1JE

Louth Market Limited

(Registration number: 11615723)
Balance Sheet as at 31 March 2026

	Note	2026 £	2025 £
Fixed assets
Intangible assets	4	7,303	9,493
Tangible assets	5	45,503	16,430
		52,806	25,923
Current assets
Debtors	6	285,303	208,059
Cash at bank and in hand		345	500
		285,648	208,559
Creditors: Amounts falling due within one year	7	(263,092)	(176,600)
Net current assets		22,556	31,959
Total assets less current liabilities		75,362	57,882
Creditors: Amounts falling due after more than one year	7	(36,404)	(23,148)
Provisions for liabilities		(5,004)	(3,122)
Net assets		33,954	31,612
Capital and reserves
Called up share capital	9	100	100
Retained earnings		33,854	31,512
Shareholders' funds		33,954	31,612

For the financial 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.

Directors' responsibilities:

•	The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 15 October 2026 and signed on its behalf by:
 

......................................... R L C Jeanes Director

......................................... S M S Williams Director

......................................... L Turner Director

Louth Market Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

1	General information

The company is a private company, limited by share capital, incorporated in England and Wales and the company registration number is 11615723.

The address of its registered office is:
Cornmarket
Louth
Lincolnshire
LN11 9QD

These financial statements cover the individual entity, Louth Market Limited.

These financial statements were authorised for issue by the Board on 15 October 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 including Section 1A - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Louth Market Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	15% reducing balance basis
Plant and machinery	15% reducing balance basis
Motor vehicles	15% reducing balance basis

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Intangible assets	10% straight line basis

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the Company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Louth Market Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 11 (2025 - 14).

Louth Market Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

4	Intangible assets

	Lease costs  £	Total £
Cost or valuation
At 1 April 2025	21,903	21,903
At 31 March 2026	21,903	21,903
Amortisation
At 1 April 2025	12,410	12,410
Amortisation charge	2,190	2,190
At 31 March 2026	14,600	14,600
Carrying amount
At 31 March 2026	7,303	7,303
At 31 March 2025	9,493	9,493

5	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 April 2025	25,714	3,000	28,714
Additions	4,968	27,115	32,083
At 31 March 2026	30,682	30,115	60,797
Depreciation
At 1 April 2025	11,126	1,158	12,284
Charge for the year	2,611	399	3,010
At 31 March 2026	13,737	1,557	15,294
Carrying amount
At 31 March 2026	16,945	28,558	45,503
At 31 March 2025	14,588	1,842	16,430

6

Debtors

Current	2026 £	2025 £
Trade debtors	256,191	187,930
Prepayments and accrued income	2,899	1,661
Other debtors	26,213	18,468
	285,303	208,059

Louth Market Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

7

Creditors

Creditors: amounts falling due within one year

	Note	2026 £	2025 £
Due within one year
Bank loans and overdrafts	8	20,138	9,169
Trade creditors		198,580	135,540
Taxation and social security		8,516	7,911
Accruals and deferred income		13,609	11,504
Other creditors		22,249	12,476
		263,092	176,600

Creditors: amounts falling due after more than one year

	Note	2026 £	2025 £
Due after one year
Loans and borrowings	8	36,404	23,148

8	Loans and borrowings

Non-current loans and borrowings

	2026 £	2025 £
Bank borrowings	17,593	23,148
Hire purchase contracts	18,811	-
	36,404	23,148

HP and finance lease liabilities totalling £18,811 (2025: £nil) are secured against the assets aquired.

Current loans and borrowings

	2026 £	2025 £
Bank borrowings	5,555	5,555
Bank overdrafts	14,583	3,614
Hire purchase contracts	8,288	-
Other borrowings	12,817	11,974
	41,243	21,143

HP and finance lease liabilities totalling £8,288 (2025: £nil) are secured against the assets aquired.

Louth Market Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2026

9	Share capital

Allotted, called up and fully paid shares

	2026		2025
	No.	£	No.	£
Ordinary A of £1 each	20	20	20	20
Ordinary B of £1 each	80	80	80	80
	100	100	100	100

10	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £Nil (2025 - £Nil). The company is commited to paying rent. The rent is calculated based on turnover which fluctuates and therefore we can not quantifiy the total financial commitment. The commitment expires 31st December 2029.