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Registration number: 08090283

New Lodge Contractors Limited

Annual Report and Unaudited Financial Statements

For The Year Ended 31 March 2023

 

New Lodge Contractors Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

New Lodge Contractors Limited

(Registration number: 08090283)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

           

Fixed assets

   

 

Tangible assets

4

 

177,331

 

113,210

Current assets

   

 

Debtors

5

83,830

 

376,914

 

Cash at bank and in hand

 

1,027,619

 

538,929

 

 

1,111,449

 

915,843

 

Creditors: Amounts falling due within one year

6

(668,338)

 

(422,914)

 

Net current assets

   

443,111

 

492,929

Total assets less current liabilities

   

620,442

 

606,139

Provisions for liabilities

 

(30,634)

 

(16,522)

Net assets

   

589,808

 

589,617

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

589,708

 

589,517

 

Total equity

   

589,808

 

589,617

For the financial year ending 31 March 2023 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 25 September 2023 and signed on its behalf by:
 

.........................................
Mr C.W. Mitchell
Director

 

New Lodge Contractors Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
Unit 11, Fusion Court
Aberford Road
Garforth
Leeds
LS25 2GH

These financial statements were authorised for issue by the Board on 25 September 2023.

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.

The financial statements are presented in Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

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, 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 company.

Tax

The tax expense for the period comprises current and 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.

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.

 

New Lodge Contractors Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2023

Tangible assets

Tangible assets are stated in the balance sheet 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.

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:

Asset class

Depreciation method and rate

Land

Not depreciated

Plant and machinery

15% straight line

Fixtures and fittings

20% straight line

Motor vehicles

25% reducing balance

Computer equipment

33% straight line

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 4).

 

New Lodge Contractors Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

54,793

4,349

61,813

95,616

216,571

Additions

-

-

33,040

68,750

101,790

Disposals

-

-

(14,381)

(26,000)

(40,381)

At 31 March 2023

54,793

4,349

80,472

138,366

277,980

Depreciation

At 1 April 2022

7,672

2,546

39,792

53,350

103,360

Charge for the year

(7,672)

1,474

6,427

20,582

20,811

Eliminated on disposal

-

-

(11,822)

(11,700)

(23,522)

At 31 March 2023

-

4,020

34,397

62,232

100,649

Carrying amount

At 31 March 2023

54,793

329

46,075

76,134

177,331

At 31 March 2022

47,121

1,802

22,021

42,266

113,210

5

Debtors

Current

2023
£

2022
£

Trade debtors

62,764

346,565

Prepayments

11,694

10,820

Other debtors

9,372

19,529

 

83,830

376,914

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

193,566

115,211

Taxation and social security

162,377

44,652

Other creditors

312,395

263,051

668,338

422,914