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Registered Number: 07103953
England and Wales

 

 

 

LANCASTER BUILDERS (KENT) LIMITED


Abridged Accounts
 


Period of accounts

Start date: 01 January 2021

End date: 31 December 2021
 
 
Notes
 
2021
£
  2020
£
Fixed assets      
Tangible fixed assets 616,857    581,903 
616,857    581,903 
Current assets      
Stocks 230,000    27,500 
Debtors 521,532    374,596 
Cash at bank and in hand 306,089    362,621 
1,057,621    764,717 
Creditors: amount falling due within one year (699,588)   (382,375)
Net current assets 358,033    382,342 
 
Total assets less current liabilities 974,890    964,245 
Creditors: amount falling due after more than one year (250,121)   (424,658)
Net assets 724,769    539,587 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 724,669    539,487 
Shareholder's funds 724,769    539,587 
 


For the year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 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 and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 19 August 2022 and were signed on its behalf by:


--------------------------------
Emile Robert Lancaster
Director
1
General Information
LANCASTER BUILDERS (KENT) LIMITED is a private company, limited by shares, registered in England and Wales, registration number 07103953, registration address , 42-44 BISHOPSGATE, LONDON, EC2N 4AH

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees


Average number of employees during the year was 16 (2020 : 12).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Total
  £   £
At 01 January 2021 1,219,595    1,219,595 
Additions 240,573    240,573 
Disposals  
At 31 December 2021 1,460,168    1,460,168 
Depreciation
At 01 January 2021 637,692    637,692 
Charge for year 205,619    205,619 
On disposals  
At 31 December 2021 843,311    843,311 
Net book values
Closing balance as at 31 December 2021 616,857    616,857 
Opening balance as at 01 January 2021 581,903    581,903 


2