LU BUILD LTD

Company Registration Number:
SC549810 (Scotland)

Unaudited abridged accounts for the year ended 28 February 2022

Period of accounts

Start date: 01 March 2021

End date: 28 February 2022

LU BUILD LTD

Contents of the Financial Statements

for the Period Ended 28 February 2022

Balance sheet
Notes

LU BUILD LTD

Balance sheet

As at 28 February 2022


Notes

2022

2021


£

£
Called up share capital not paid: 0 0
Fixed assets
Intangible assets:   0 0
Tangible assets: 3 3,605 6,093
Investments:   0 0
Total fixed assets: 3,605 6,093
Current assets
Stocks: 0 0
Debtors:   96,474 21,418
Cash at bank and in hand: 37,662 57,665
Investments:   0 0
Total current assets: 134,136 79,083
Creditors: amounts falling due within one year: 4 (54,480) (11,685)
Net current assets (liabilities): 79,656 67,398
Total assets less current liabilities: 83,261 73,491
Creditors: amounts falling due after more than one year: 5 (49,634) (50,000)
Provision for liabilities: (685) (1,158)
Total net assets (liabilities): 32,942 22,333
Capital and reserves
Called up share capital: 100 100
Share premium account: 0 0
Revaluation reserve: 00
Other reserves: 0 0
Profit and loss account: 32,842 22,233
Shareholders funds: 32,942 22,333

The notes form part of these financial statements

LU BUILD LTD

Balance sheet statements

For the year ending 28 February 2022 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 15 August 2022
and signed on behalf of the board by:

Name: James Logan
Status: Director

The notes form part of these financial statements

LU BUILD LTD

Notes to the Financial Statements

for the Period Ended 28 February 2022

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and servicesprovided in the normal course of business, and is shown net of VAT and other sales related taxes. The fairvalue of consideration takes into account trade discounts, settlement discounts and volume rebates.Revenue from contracts for the provision of professional services is recognised by reference to the stage ofcompletion when the stage of completion, costs incurred and costs to complete can be estimated reliably.The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourlystaff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably,revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net ofdepreciation and any impairment losses.Depreciation is recognised so as to write off the cost or valuation of assets less their residual values overtheir useful lives on the following bases:Fixtures and fittings 25% on straight line.Computers 33% on straight line.

LU BUILD LTD

Notes to the Financial Statements

for the Period Ended 28 February 2022

2. Employees

2022 2021
Average number of employees during the period 12 12

LU BUILD LTD

Notes to the Financial Statements

for the Period Ended 28 February 2022

3. Tangible Assets

Total
Cost £
At 01 March 2021 26,713
Additions 2,832
Disposals 0
Revaluations 0
Transfers 0
At 28 February 2022 29,545
Depreciation
At 01 March 2021 20,620
Charge for year 5,320
On disposals 0
Other adjustments 0
At 28 February 2022 25,940
Net book value
At 28 February 2022 3,605
At 28 February 2021 6,093

LU BUILD LTD

Notes to the Financial Statements

for the Period Ended 28 February 2022

4. Creditors: amounts falling due within one year note

Creditors: amounts falling due within one yearCorporation tax - 698 Other taxation and social security - 7,923 Other creditors - 45,859

LU BUILD LTD

Notes to the Financial Statements

for the Period Ended 28 February 2022

5. Creditors: amounts falling due after more than one year note

Bank loans and overdrafts 49,634