Silverfin false 30/01/2023 31/01/2022 30/01/2023 Mr M J Bluett 01/10/1996 Mr D S Lidstone 01/10/1996 Mr J R Lidstone Mr J M Lidstone 01/08/1994 24 October 2023 The principal activity of the company during the financial year was that of plastering and tiling contracts and minor works. 00754671 2023-01-30 00754671 bus:Director1 2023-01-30 00754671 bus:Director2 2023-01-30 00754671 bus:Director4 2023-01-30 00754671 2022-01-30 00754671 core:CurrentFinancialInstruments 2023-01-30 00754671 core:CurrentFinancialInstruments 2022-01-30 00754671 core:ShareCapital 2023-01-30 00754671 core:ShareCapital 2022-01-30 00754671 core:CapitalRedemptionReserve 2023-01-30 00754671 core:CapitalRedemptionReserve 2022-01-30 00754671 core:RetainedEarningsAccumulatedLosses 2023-01-30 00754671 core:RetainedEarningsAccumulatedLosses 2022-01-30 00754671 core:PlantMachinery 2022-01-30 00754671 core:Vehicles 2022-01-30 00754671 core:OfficeEquipment 2022-01-30 00754671 core:PlantMachinery 2023-01-30 00754671 core:Vehicles 2023-01-30 00754671 core:OfficeEquipment 2023-01-30 00754671 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-01-30 00754671 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-01-30 00754671 bus:OrdinaryShareClass1 2023-01-30 00754671 2022-01-31 2023-01-30 00754671 bus:FullAccounts 2022-01-31 2023-01-30 00754671 bus:SmallEntities 2022-01-31 2023-01-30 00754671 bus:AuditExemptWithAccountantsReport 2022-01-31 2023-01-30 00754671 bus:PrivateLimitedCompanyLtd 2022-01-31 2023-01-30 00754671 bus:Director1 2022-01-31 2023-01-30 00754671 bus:Director2 2022-01-31 2023-01-30 00754671 bus:Director3 2022-01-31 2023-01-30 00754671 bus:Director4 2022-01-31 2023-01-30 00754671 core:PlantMachinery 2022-01-31 2023-01-30 00754671 core:Vehicles 2022-01-31 2023-01-30 00754671 core:OfficeEquipment 2022-01-31 2023-01-30 00754671 2021-02-01 2022-01-30 00754671 bus:OrdinaryShareClass1 2022-01-31 2023-01-30 00754671 bus:OrdinaryShareClass1 2021-02-01 2022-01-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 00754671 (England and Wales)

J.H. LIDSTONE (PLASTERING) LIMITED

Unaudited Financial Statements
For the financial year ended 30 January 2023
Pages for filing with the registrar

J.H. LIDSTONE (PLASTERING) LIMITED

Unaudited Financial Statements

For the financial year ended 30 January 2023

Contents

J.H. LIDSTONE (PLASTERING) LIMITED

BALANCE SHEET

As at 30 January 2023
J.H. LIDSTONE (PLASTERING) LIMITED

BALANCE SHEET (continued)

As at 30 January 2023
Note 30.01.2023 30.01.2022
£ £
Fixed assets
Tangible assets 3 37,342 44,218
37,342 44,218
Current assets
Stocks 1,072,804 1,039,868
Debtors 4 600,766 771,169
Cash at bank and in hand 1,803,300 1,476,794
3,476,870 3,287,831
Creditors: amounts falling due within one year 5 ( 2,654,549) ( 1,225,783)
Net current assets 822,321 2,062,048
Total assets less current liabilities 859,663 2,106,266
Provision for liabilities ( 7,005) ( 8,307)
Net assets 852,658 2,097,959
Capital and reserves
Called-up share capital 6 2,255 2,255
Capital redemption reserve 745 745
Profit and loss account 849,658 2,094,959
Total shareholder's funds 852,658 2,097,959

For the financial year ending 30 January 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of J.H. Lidstone (Plastering) Limited (registered number: 00754671) were approved and authorised for issue by the Board of Directors on 24 October 2023. They were signed on its behalf by:

Mr D S Lidstone
Director
J.H. LIDSTONE (PLASTERING) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 January 2023
J.H. LIDSTONE (PLASTERING) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 January 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

J.H. Lidstone (Plastering) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Crozier Road, Mutley, Plymouth, PL4 7LN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the performance model.

A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Year ended
30.01.2023
Period from
01.02.2021 to
30.01.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 30 23

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 31 January 2022 122,305 102,745 38,225 263,275
Additions 0 3,500 256 3,756
At 30 January 2023 122,305 106,245 38,481 267,031
Accumulated depreciation
At 31 January 2022 108,748 81,040 29,269 219,057
Charge for the financial year 2,711 5,645 2,276 10,632
At 30 January 2023 111,459 86,685 31,545 229,689
Net book value
At 30 January 2023 10,846 19,560 6,936 37,342
At 30 January 2022 13,557 21,705 8,956 44,218

4. Debtors

30.01.2023 30.01.2022
£ £
Trade debtors 526,444 474,297
Other debtors 74,322 296,872
600,766 771,169

5. Creditors: amounts falling due within one year

30.01.2023 30.01.2022
£ £
Trade creditors 169,662 146,992
Amounts owed to related parties 2,316,168 966,793
Accruals 89,314 25,342
Taxation and social security 70,599 83,808
Other creditors 8,806 2,848
2,654,549 1,225,783

6. Called-up share capital

30.01.2023 30.01.2022
£ £
Allotted, called-up and fully-paid
2,255 Ordinary shares of £ 1.00 each 2,255 2,255