T W Laycock & Sons Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

T W Laycock & Sons Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07590721 . The registered office is Skerne Spice Mills , Thwaites Lane , Keighley , West Yorkshire , BD21 4LJ.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

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.

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 4 years.

2.4. 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:

Plant & Machinery	20% on reducing balance
Motor Vehicles	25% on reducing balance
Fixtures & Fittings	20% on reducing balance

The gain or loss arising on disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the assey, and is credited to profit or loss.

2.5. Stocks and Work in Progress

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

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T W Laycock & Sons Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.6. Financial Instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include trade debtors, other debtors and cash and bank balances, are measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangment constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occured after the initial recognition of the ifnancial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade creditors and other creditors are recognised at transaction price. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when, and only when, the group's contractual obligations are discharged, cancelled, or they expire.

Equity Instruments

Equity instruments issued by the group are recorded at the fair value of proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2.7. 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 years 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 assets reflect 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 and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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T W Laycock & Sons Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

3. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2025: 8)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2025	378,000

As at 31 March 2026	378,000

Amortisation
As at 1 April 2025	378,000

As at 31 March 2026	378,000

Net Book Value
As at 31 March 2026	-

As at 1 April 2025	-

Goodwill relates to the amounts paid in excess of the trade and assets acquired from a business in 2012.

5. Tangible Assets

	Plant & Machinery	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£	£
Cost
As at 1 April 2025	62,681	71,000	5,576	139,257
Additions	-	34,303	-	34,303
Disposals	-	(28,000 )	-	(28,000 )

As at 31 March 2026	62,681	77,303	5,576	145,560

Depreciation
As at 1 April 2025	42,633	19,141	4,782	66,556
Provided during the period	4,013	12,965	159	17,137
Disposals	-	(21,355 )	-	(21,355 )

As at 31 March 2026	46,646	10,751	4,941	62,338

Net Book Value
As at 31 March 2026	16,035	66,552	635	83,222

As at 1 April 2025	20,048	51,859	794	72,701

6. Stocks

	2026	2025
	£	£
Finished goods	146,456	138,969

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T W Laycock & Sons Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

7. Debtors

	2026	2025
	£	£
Due within one year
Trade debtors	237,354	215,973
Other debtors	59,451	29,698

	296,805	245,671

8. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Trade creditors	146,980	141,828
Amounts owed to participating interests	7,291	6,968
Other creditors	7,981	18,544
Taxation and social security	58,992	59,418

	221,244	226,758

9. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	150	150

10. Directors Advances, Credits and Guarantees

Included within Debtors are the following loans to directors:

	As at 1 April 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2026
	£	£	£	£	£
Mr Nicholas Hempel	(4,376 )	15,480	-	-	11,104
Mr David Hempel	(3,397 )	36,815	(7,046 )	-	26,372

The above loans are unsecured, interest free and repayable on demand. all mounts owed by the directors were repaid in full within 9 months of the year end.

11. Financial commitments, guarantees and contingent liabilities

TW Laycock SASS holds a fixed and floating charge over the assets of the company related to a debenture. The charge contains a negative pledge.

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		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		83,222		72,701

			83,222		72,701
CURRENT ASSETS
Stocks	6	146,456		138,969
Debtors	7	296,805		245,671
Cash at bank and in hand		368,195		387,994

		811,456		772,634
Creditors: Amounts Falling Due Within One Year	8	(221,244 )		(226,758 )

NET CURRENT ASSETS (LIABILITIES)			590,212		545,876

TOTAL ASSETS LESS CURRENT LIABILITIES			673,434		618,577

PROVISIONS FOR LIABILITIES
Deferred Taxation			(20,806 )		(18,175 )

NET ASSETS			652,628		600,402

CAPITAL AND RESERVES
Called up share capital	9		150		150
Profit and Loss Account			652,478		600,252

SHAREHOLDERS' FUNDS			652,628		600,402

Mr Nicholas Hempel Director	Mr David Hempel Director
31/07/2026