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Registration number: 07652787

Landmark Pavers Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Landmark Pavers Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 11

Detailed Profit and Loss Account

12 to 13

 

Landmark Pavers Limited

Company Information

Directors

Mrs Holly Marie Welch

Mr Charlie John Welch

Mr James Edward Welch

Company secretary

Welch Company Services Limited

Registered office

2 Drake House
Cook Way
Taunton
Somerset
TA2 6BJ

Accountants

Welch & Co (South West) Limited
2 Drake House
Cook Way
Taunton
Somerset
TA2 6BJ

 

Landmark Pavers Limited

Directors' Report for the Year Ended 31 March 2023

The directors present their report and the financial statements for the year ended 31 March 2023.

Directors of the company

The directors who held office during the year were as follows:

Mrs Holly Marie Welch

Mr Charlie John Welch

Mr James Edward Welch

Principal activity

The principal activity of the company is general building & ground maintenance

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 1 November 2023 and signed on its behalf by:
 

.........................................
Mr Charlie John Welch
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Landmark Pavers Limited
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Landmark Pavers Limited for the year ended 31 March 2023 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Landmark Pavers Limited, as a body. Our work has been undertaken solely to prepare for your approval the accounts of Landmark Pavers Limited and state those matters that we have agreed to state to the Board of Directors of Landmark Pavers Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Landmark Pavers Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Landmark Pavers Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Landmark Pavers Limited. You consider that Landmark Pavers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Landmark Pavers Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Welch & Co (South West) Limited
2 Drake House
Cook Way
Taunton
Somerset
TA2 6BJ

1 November 2023

 

Landmark Pavers Limited

(Registration number: 07652787)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

6

3,208

4,203

Current assets

 

Debtors

7

50,343

45,097

Cash at bank and in hand

 

22,633

22,171

 

72,976

67,268

Creditors: Amounts falling due within one year

8

(30,858)

(43,886)

Net current assets

 

42,118

23,382

Total assets less current liabilities

 

45,326

27,585

Creditors: Amounts falling due after more than one year

8

(11,538)

-

Net assets

 

33,788

27,585

Capital and reserves

 

Called up share capital

9

500

500

Retained earnings

33,288

27,085

Shareholders' funds

 

33,788

27,585

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.

Approved and authorised by the Board on 1 November 2023 and signed on its behalf by:
 

.........................................
Mr Charlie John Welch
Director

 

Landmark Pavers 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.

The address of its registered office is:
2 Drake House
Cook Way
Taunton
Somerset
TA2 6BJ
England

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 except that as disclosed in the accounting policies certain items are shown at fair value.

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 sales/value added tax, returns, 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 entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current 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 in the countries where the company operates and generates taxable income.

 

Landmark Pavers 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.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Landmark Pavers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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 0 (2022 - 3).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

1,069

1,400

 

Landmark Pavers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

30,000

30,000

At 31 March 2023

30,000

30,000

Amortisation

At 1 April 2022

30,000

30,000

At 31 March 2023

30,000

30,000

Carrying amount

At 31 March 2023

-

-

6

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

874

19,615

5,856

26,345

Disposals

-

(513)

-

(513)

At 31 March 2023

874

19,102

5,856

25,832

Depreciation

At 1 April 2022

505

17,234

4,403

22,142

Charge for the year

93

614

363

1,070

Eliminated on disposal

-

(588)

-

(588)

At 31 March 2023

598

17,260

4,766

22,624

Carrying amount

At 31 March 2023

276

1,842

1,090

3,208

At 31 March 2022

369

2,381

1,453

4,203

7

Debtors

Current

2023
£

2022
£

Trade debtors

16,756

9,714

Other debtors

33,587

35,383

 

50,343

45,097

 

Landmark Pavers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

10

9,199

29,671

Trade creditors

 

10,359

5,606

Taxation and social security

 

-

2,696

Other creditors

 

11,300

5,913

 

30,858

43,886

Due after one year

 

Loans and borrowings

10

11,538

-

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

11,538

-

9

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A of £1 each

100

100

100

100

Ordinary B of £1 each

100

100

100

100

Ordinary C of £1 each

100

100

100

100

Ordinary D of £1 each

100

100

100

100

Ordinary E of £1 each

100

100

100

100

 

500

500

500

500

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

11,538

-

 

Landmark Pavers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

2023
£

2022
£

Current loans and borrowings

Bank borrowings

4,462

-

Other borrowings

4,737

29,671

9,199

29,671

11

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £Nil per each Ordinary A

 

-

 

-

Interim dividend of £20.00 per each Ordinary B

 

2,000

 

2,000

Interim dividend of £20.00 (2022 - £50.00) per each Ordinary C

 

2,000

 

5,000

Interim dividend of £Nil (2022 - £107.00) per each Ordinary D

 

-

 

10,700

Interim dividend of £126.30 (2022 - £Nil) per each Ordinary E

 

12,630

 

-

   

16,630

 

17,700

12

Related party transactions

 

Landmark Pavers Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

36,899

41,804

 

Landmark Pavers Limited

Detailed Profit and Loss Account for the Year Ended 31 March 2023

2023
 £

2022
 £

Turnover

Sale of goods, UK

138,522

118,230

CIS Deductions

658

-

Grants and subsidies

3,108

6,477

142,288

124,707

Cost of sales

Purchases

28,876

32,064

Subcontract cost

-

1,844

Freight and carriage

956

-

Consumable tools

276

390

Waste Disposal

183

3,516

30,291

37,814

Employment costs

Wages and salaries (excluding directors)

(18,069)

-

Staff NIC (Employers)

(1,713)

-

Directors remuneration

(36,899)

(41,804)

Directors NIC (Employers)

(1,395)

-

Staff pensions (Defined contribution)

(104)

-

(58,180)

(41,804)

Establishment costs

Rent

-

(2,600)

Insurance

-

(1,568)

-

(4,168)

General administrative expenses

Protective Clothing

(49)

-

Equipment repairs and renewals

(277)

-

Mobile

(490)

(454)

Website expenses

-

(168)

Printing, postage and stationery

(24)

(5)

Hire of plant and machinery (Spot hire)

(6,870)

(5,484)

Motor expenses

(8,556)

(6,297)

Travel and subsistence

(164)

-

Advertising

(419)

-

Payroll

(536)

(540)

Bookkeeping

(1,725)

(1,475)

Accountancy fees

(1,000)

(1,000)

Legal and professional fees

(422)

(733)

(20,532)

(16,156)

 

Landmark Pavers Limited

Detailed Profit and Loss Account for the Year Ended 31 March 2023

2023
 £

2022
 £

Finance charges

Bank charges

(87)

(86)

Leasing payments

(3,267)

(2,893)

(3,354)

(2,979)

Depreciation costs

Depreciation of plant and machinery (owned)

(382)

(484)

Depreciation of motor vehicles (owned)

(595)

(793)

Depreciation of office equipment (owned)

(92)

(123)

(1,069)

(1,400)

Other expenses

(Profit)/loss on disposal of tangible fixed assets

75

-

Operating profit

28,937

20,386

Interest payable and similar charges

Bank loan interest payable

450

-

Hire purchase interest

-

383

450

383

Profit before tax

28,487

20,003