2022-08-012023-07-312023-07-31false12776345LC SURFACING 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LC SURFACING LIMITED

Registered Number
12776345
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

LC SURFACING LIMITED
Company Information
for the year from 1 August 2022 to 31 July 2023

Director

Leejay Crane

Registered Address

12 Ainsdale Road
Leicester
LE3 0UA

Registered Number

12776345 (England and Wales)
LC SURFACING LIMITED
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Intangible assets66,2508,750
Tangible assets767,73468,578
73,98477,328
Current assets
Debtors824,46327,210
Cash at bank and on hand86,89246,377
111,35573,587
Creditors amounts falling due within one year9(28,623)(40,193)
Net current assets (liabilities)82,73233,394
Total assets less current liabilities156,716110,722
Net assets156,716110,722
Capital and reserves
Called up share capital11
Profit and loss account156,715110,721
Shareholders' funds156,716110,722
The financial statements were approved and authorised for issue by the Director on 10 August 2023, and are signed on its behalf by:
Leejay Crane
Director
Registered Company No. 12776345
LC SURFACING LIMITED
Notes to the Financial Statements
for the year ended 31 July 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
Road surfacing
4.Accounting policies
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Intangible assets policy
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
5.Employee information

20232022
Average number of employees during the year11
6.Intangible assets

Other

Total

££
Cost or valuation
At 01 August 2212,50012,500
At 31 July 2312,50012,500
Amortisation and impairment
At 01 August 223,7503,750
Charge for year2,5002,500
At 31 July 236,2506,250
Net book value
At 31 July 236,2506,250
At 31 July 228,7508,750
7.Property, plant and equipment

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 August 2225,25063,38929988,938
Additions-33,500-33,500
Disposals-(23,000)-(23,000)
At 31 July 2325,25073,88929999,438
Depreciation and impairment
At 01 August 2210,6919,46920020,360
Charge for year3,64013,3559917,094
On disposals-(5,750)-(5,750)
At 31 July 2314,33117,07429931,704
Net book value
At 31 July 2310,91956,815-67,734
At 31 July 2214,55953,9209968,578
8.Debtors

2023

2022

££
Trade debtors / trade receivables13,5407,092
Other debtors10,03820,118
Prepayments and accrued income885-
Total24,46327,210
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
9.Creditors within one year

2023

2022

££
Taxation and social security24,15717,071
Other creditors-20,093
Accrued liabilities and deferred income4,4663,029
Total28,62340,193
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.