Registered number
08456213
LOCAL BUILDER 4U LIMITED
Filleted Accounts
31 March 2023
LOCAL BUILDER 4U LIMITED
Registered number: 08456213
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Current assets
Cash at bank and in hand 32,822 39,158
Creditors: amounts falling due within one year 3 (1,585) (4,081)
Net current assets 31,237 35,077
Total assets less current liabilities 31,237 35,077
Creditors: amounts falling due after more than one year 4 (28,247) (32,112)
Net assets 2,990 2,965
Capital and reserves
Called up share capital 1 1
Profit and loss account 2,989 2,964
Shareholder's funds 2,990 2,965
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ilir Malluxa
Director
Approved by the board on 21 November 2023
LOCAL BUILDER 4U LIMITED
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Turnover
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. 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.
Debtors
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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,060 180
Taxation and social security costs (151) 4,108
Other creditors 676 (207)
1,585 4,081
4 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 28,247 32,112
5 Other information
LOCAL BUILDER 4U LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Flat 5
St Michaels
Cambridge Road
England
BH2 6AA
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