Caseware UK (AP4) 2022.0.179 2022.0.179 2023-01-312023-01-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2022-02-01false22truetrue 09948350 2022-02-01 2023-01-31 09948350 2021-02-01 2022-01-31 09948350 2023-01-31 09948350 2022-01-31 09948350 c:Director1 2022-02-01 2023-01-31 09948350 d:MotorVehicles 2022-02-01 2023-01-31 09948350 d:MotorVehicles 2023-01-31 09948350 d:MotorVehicles 2022-01-31 09948350 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 09948350 d:OfficeEquipment 2022-02-01 2023-01-31 09948350 d:OfficeEquipment 2023-01-31 09948350 d:OfficeEquipment 2022-01-31 09948350 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 09948350 d:OwnedOrFreeholdAssets 2022-02-01 2023-01-31 09948350 d:CurrentFinancialInstruments 2023-01-31 09948350 d:CurrentFinancialInstruments 2022-01-31 09948350 d:Non-currentFinancialInstruments 2023-01-31 09948350 d:Non-currentFinancialInstruments 2022-01-31 09948350 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 09948350 d:CurrentFinancialInstruments d:WithinOneYear 2022-01-31 09948350 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 09948350 d:Non-currentFinancialInstruments d:AfterOneYear 2022-01-31 09948350 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 09948350 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-01-31 09948350 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 09948350 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-01-31 09948350 d:ShareCapital 2023-01-31 09948350 d:ShareCapital 2022-01-31 09948350 d:RetainedEarningsAccumulatedLosses 2023-01-31 09948350 d:RetainedEarningsAccumulatedLosses 2022-01-31 09948350 c:FRS102 2022-02-01 2023-01-31 09948350 c:AuditExempt-NoAccountantsReport 2022-02-01 2023-01-31 09948350 c:FullAccounts 2022-02-01 2023-01-31 09948350 c:PrivateLimitedCompanyLtd 2022-02-01 2023-01-31 09948350 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-02-01 2023-01-31 09948350 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-01-31 09948350 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-01-31 iso4217:GBP xbrli:pure

Registered number: 09948350









LBM CONSTRUCTION NORTH LONDON LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2023

 
LBM CONSTRUCTION NORTH LONDON LIMITED
REGISTERED NUMBER: 09948350

BALANCE SHEET
AS AT 31 JANUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,953
4,331

  
1,953
4,331

Current assets
  

Stocks
  
3,000
2,500

Debtors: amounts falling due within one year
 5 
26,718
26,472

Cash at bank and in hand
 6 
60,579
62,544

  
90,297
91,516

Creditors: amounts falling due within one year
 7 
(92,492)
(81,304)

Net current (liabilities)/assets
  
 
 
(2,195)
 
 
10,212

Total assets less current liabilities
  
(242)
14,543

Creditors: amounts falling due after more than one year
 8 
(23,333)
(33,333)

  

Net liabilities
  
(23,575)
(18,790)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
(23,576)
(18,791)

  
(23,575)
(18,790)

Page 1

 
LBM CONSTRUCTION NORTH LONDON LIMITED
REGISTERED NUMBER: 09948350
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 October 2023.




B Nabolli
Director

The notes on pages 3 to 8 form part of these financial statements.
Page 2

 
LBM CONSTRUCTION NORTH LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1.


General information

LBM Construction North London Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 09948350. The address of the registered office is Haslers, Old Station Road, Loughton, Essex, United Kingdom, IG10 4PL.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound sterling.
The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. The company made a loss of £4,785 (2022: £23,974 profit) and at the balance sheet date total liabilities exceeded total assets by £23,575 (2022: £18,790). This basis is deemed appropriate due to the ongoing support received from the director.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
LBM CONSTRUCTION NORTH LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis and straight line basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
reducing balance basis
Office equipment
-
33%
straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
LBM CONSTRUCTION NORTH LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

2.Accounting policies (continued)

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.13

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
LBM CONSTRUCTION NORTH LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 February 2022
18,500
1,834
20,334


Additions
-
831
831


Disposals
(13,500)
-
(13,500)



At 31 January 2023

5,000
2,665
7,665



Depreciation


At 1 February 2022
14,515
1,488
16,003


Charge for the year on owned assets
396
411
807


Disposals
(11,098)
-
(11,098)



At 31 January 2023

3,813
1,899
5,712



Net book value



At 31 January 2023
1,187
766
1,953



At 31 January 2022
3,985
346
4,331
Page 6

 
LBM CONSTRUCTION NORTH LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

5.


Debtors

2023
2022
£
£


Other debtors
13,505
25,382

Prepayments and accrued income
13,213
1,090

26,718
26,472



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
60,579
62,544

60,579
62,544



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
10,000
10,000

Trade creditors
7,823
21,999

Corporation tax
-
6,052

Other taxation and social security
18,061
16,380

Other creditors
30,688
1,065

Accruals and deferred income
25,920
25,808

92,492
81,304



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
23,333
33,333

23,333
33,333


Page 7

 
LBM CONSTRUCTION NORTH LONDON LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
20,000
20,000


20,000
20,000

Amounts falling due 2-5 years

Bank loans
3,334
13,333


3,334
13,333


33,334
43,333



10.


Related party transactions

During the year transactions with the Key Management Personnel.


2023
2022
£
£

Key management personnel
(30,687)
(1,065)
(30,687)
(1,065)


11.


Controlling party

The ultimate controlling party is B Nabolli by virtue of his majority shareholding.
 
Page 8