Paul Lakey Agricultural Contractor Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 05758697 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Paul Lakey Agricultural Contractor Ltd

Page

Company information

1

Chartered accountants' report

2

Statement of financial position

3

to

4

Notes to the financial statements

5

to

7

Directors:

P Lakey

A Lakey

Registered office:

1 Tylers Farm

Gedney Marsh

Spalding

Lincolnshire

PE12 9PA

Registered number:

05758697 (England and Wales)

Accountants:

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Paul Lakey Agricultural Contractor Ltd for the year ended 31 March 2025 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Paul Lakey Agricultural Contractor Ltd, as a body, in accordance with the terms of our engagement letter dated 29 April 2025. Our work has been undertaken solely to prepare for your approval the financial statements of Paul Lakey Agricultural Contractor Ltd and state those matters that we have agreed to state to the Board of Directors of Paul Lakey Agricultural Contractor Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Paul Lakey Agricultural Contractor Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Paul Lakey Agricultural Contractor Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Paul Lakey Agricultural Contractor Ltd. You consider that Paul Lakey Agricultural Contractor Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Paul Lakey Agricultural Contractor Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Moore Thompson

Bank House

Broad Street

Spalding

Lincolnshire

PE11 1TB

24 November 2025

Fixed assets

Tangible assets

5

1,035,195

517,211

Current assets

Debtors

6

717,766

394,551

Cash at bank

55,484

69,024

773,250

463,575

Creditors

Amounts falling due within one year

7

638,335

220,288

Net current assets

134,915

243,287

Total assets less current liabilities

1,170,110

760,498

Creditors

Amounts falling due after more than one
year

8

(189,000

)

(1,666

)

Provisions for liabilities

(258,799

)

(123,949

)

Net assets

722,311

634,883

Capital and reserves

Called up share capital

9

100

Retained earnings

722,211

634,783

Shareholders' funds

722,311

634,883

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 November 2025 and were signed on its behalf by:

P Lakey - Director

1.	Statutory information

Paul Lakey Agricultural Contractor Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	Employees and directors

The average number of employees during the year was 4 (2024 - 4 ) .

5.	Tangible fixed assets

Plant and

Motor

machinery

vehicles

Totals

£

Cost

At 1 April 2024

1,663,094

4,695

1,667,789

Additions

1,092,442

-

1,092,442

Disposals

(660,000

)

-

(660,000

)

At 31 March 2025

2,095,536

4,695

2,100,231

Depreciation

At 1 April 2024

1,147,863

2,715

1,150,578

Charge for year

344,570

495

345,065

Eliminated on disposal

(430,607

)

-

(430,607

)

At 31 March 2025

1,061,826

3,210

1,065,036

Net book value

At 31 March 2025

1,033,710

1,485

1,035,195

At 31 March 2024

515,231

1,980

517,211

6.

Debtors: amounts falling due within one year

2025

2024

£

Trade debtors

29,942

-

Other debtors

406,067

340,000

Directors' loan accounts

41,548

54,551

Tax

185,758

-

VAT

54,451

-

717,766

394,551

7.

Creditors: amounts falling due within one year

2025

2024

£

Hire purchase contracts

93,000

79,560

Trade creditors

443,993

-

Corporation tax

92,879

95,515

Social security and other taxes

2,114

2,412

VAT

-

40,802

Other creditors

2,849

464

Accruals and deferred income

3,500

1,535

638,335

220,288

8.

Creditors: amounts falling due after more than one year

2025

2024

£

Hire purchase contracts

189,000

1,666

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

100

Ordinary

£1

100

10.	Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

P Lakey

Balance outstanding at start of year

54,551

44,793

Amounts advanced

7,997

143,319

Amounts repaid

(21,000

)

(133,561

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

41,548

54,551