2022-08-012023-07-312023-07-31false10265787LANE HOMES CONSTRUCTION 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LANE HOMES CONSTRUCTION LTD

Registered Number
10265787
(England and Wales)

Unaudited Financial Statements for the Year ended
31 July 2023

LANE HOMES CONSTRUCTION LTD
Company Information
for the year from 1 August 2022 to 31 July 2023

Director

LANE, Daniel Anthony

Registered Address

Waterloo House Colchester Road
St Osyth
Clacton-On-Sea
CO16 8HA

Registered Number

10265787 (England and Wales)
LANE HOMES CONSTRUCTION LTD
Balance Sheet as at
31 July 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets5112,52282,964
112,52282,964
Current assets
Stocks655,700-
Debtors71,074,2001,568,837
1,129,9001,568,837
Creditors amounts falling due within one year8(1,026,275)(1,424,979)
Net current assets (liabilities)103,625143,858
Total assets less current liabilities216,147226,822
Net assets216,147226,822
Capital and reserves
Called up share capital100100
Profit and loss account216,047226,722
Shareholders' funds216,147226,822
The financial statements were approved and authorised for issue by the Board of Directors on 15 November 2023, and are signed on its behalf by:
LANE, Daniel Anthony
Director
Registered Company No. 10265787
LANE HOMES CONSTRUCTION LTD
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.Accounting policies
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:
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
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.
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.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
4.Employee information

20232022
Average number of employees during the year44
5.Property, plant and equipment

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 August 2213,94799,6161,726115,289
Additions26,28745,1671,26272,716
Disposals(9,608)--(9,608)
At 31 July 2330,626144,7832,988178,397
Depreciation and impairment
At 01 August 226,72924,90569132,325
Charge for year8,37429,96857438,916
On disposals(5,366)--(5,366)
At 31 July 239,73754,8731,26565,875
Net book value
At 31 July 2320,88989,9101,723112,522
At 31 July 227,21874,7111,03582,964
6.Stocks

2023

2022

££
Work in progress55,700-
Total55,700-
7.Debtors

2023

2022

££
Trade debtors / trade receivables7,48030,000
Amounts owed by associates and joint ventures / participating interests1,030,9701,502,793
Other debtors35,75036,044
Total1,074,2001,568,837
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.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables524,775507,663
Bank borrowings and overdrafts146,572123,836
Taxation and social security205,224289,401
Other creditors149,704504,079
Total1,026,2751,424,979
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.