G G Locke Limited

Contents

Company Information	1
Statement of Financial Position	2

G G Locke Limited

Company Information

Directors

Mr G G Locke Mrs E A Locke

Company secretary

Mrs E A Locke

Registered office

Brackenwood Manor Wilmington Honiton Devon EX14 9RX

G G Locke Limited

(Registration number: 03977525)
Statement of Financial Position as at 31 August 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	5	132,485	133,449
Current assets
Stocks	6	1,250	1,250
Debtors	7	9,592	18,609
Investments	8	670,000	670,000
Cash at bank and in hand		45,140	155,293
		725,982	845,152
Creditors: Amounts falling due within one year	9	(32,503)	(41,314)
Net current assets		693,479	803,838
Total assets less current liabilities		825,964	937,287
Provisions for liabilities		(33,121)	(33,362)
Net assets		792,843	903,925
Capital and reserves
Called up share capital		100	100
Profit and loss account		792,743	903,825
Shareholders' funds		792,843	903,925

For the financial year ending 31 August 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 4 November 2026 and signed on its behalf by:
 

Mr G G Locke Director

G G Locke Limited

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

1	General information

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

The address of its registered office is:
Brackenwood Manor
Wilmington
Honiton
Devon
EX14 9RX

Principal activity

The principal activity of the company is building services and groundworks

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 Section 1A smaller entities - '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 are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis, with management having given due consideration to the company’s ability to continue as a going concern for at least the next twelve months.

G G Locke Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 August 2026 (continued)

2	Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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 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 tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

G G Locke Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 August 2026 (continued)

2	Accounting policies (continued)

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.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

G G Locke Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 August 2026 (continued)

2	Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Depreciation method and rate for tangible assets
Asset class	Depreciation method and rate
Plant and machinery	15% Reducing balance
Fixtures and fittings	15% Reducing balance
Motor vehicles	25% reducing balance

G G Locke Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 August 2026 (continued)

2	Accounting policies (continued)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2025 - 2).

4

Taxation

Tax charged/(credited) in the statement of comprehensive income

	2026 £	2025 £
Current taxation
UK corporation tax adjustment to prior periods	-	(4,697)
Deferred taxation
Arising from origination and reversal of timing differences	(241)	(38,283)
Tax receipt in the income statement	(241)	(42,980)

G G Locke Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 August 2026 (continued)

5	Tangible assets

	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £	Total £
Cost or valuation
At 1 September 2025	30,464	329,417	88,443	448,324
Additions	-	2,191	32,925	35,116
Disposals	-	(2,800)	(35,296)	(38,096)
At 31 August 2026	30,464	328,808	86,072	445,344
Depreciation
At 1 September 2025	24,708	235,852	54,315	314,875
Charge for the year	863	14,271	15,586	30,720
Eliminated on disposal	-	(2,151)	(30,585)	(32,736)
At 31 August 2026	25,571	247,972	39,316	312,859
Carrying amount
At 31 August 2026	4,893	80,836	46,756	132,485
At 31 August 2025	5,756	93,565	34,128	133,449

6

Stocks

	2026 £	2025 £
Finished goods and goods for resale	1,250	1,250

7

Debtors

	Note	2026 £	2025 £
Trade debtors		5,000	8,500
Other debtors		458	784
Prepayments		4,134	4,628
Income tax asset		-	4,697
		9,592	18,609

8	Current asset investments

	2026 £	2025 £
Other investments	670,000	670,000

G G Locke Limited

Notes to the Unaudited Financial Statements for the
Year Ended 31 August 2026 (continued)

9

Creditors

Creditors: amounts falling due within one year

	2026 £	2025 £
Due within one year
Accruals and deferred income	1,535	2,250
Other creditors	30,968	39,064
	32,503	41,314

10

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

11	Related party transactions

Transactions with directors

2026	At 1 September 2025 £	Advances to director £	Repayments by director £	At 31 August 2026 £
	(39,064)	74,096	(66,000)	(30,968)

2025	At 1 September 2024 £	Advances to director £	Repayments by director £	At 31 August 2025 £
	(23,965)	44,901	(60,000)	(39,064)