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Registration number: 07202764

Longthorpe Landscape Services Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2023

 

Longthorpe Landscape Services Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 5

 

Longthorpe Landscape Services Limited

(Registration number: 07202764)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

13,868

18,385

Current assets

 

Debtors

5

19,540

6,824

Cash at bank and in hand

 

4,919

7,104

 

24,459

13,928

Prepayments and accrued income

 

1,184

-

Creditors: Amounts falling due within one year

(110,153)

(82,599)

Net current liabilities

 

(84,510)

(68,671)

Total assets less current liabilities

 

(70,642)

(50,286)

Creditors: Amounts falling due after more than one year

(9,302)

(13,438)

Accruals and deferred income

 

(1,400)

(1,050)

Net liabilities

 

(81,344)

(64,774)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(81,346)

(64,776)

Shareholders' deficit

 

(81,344)

(64,774)

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.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 December 2023 and signed on its behalf by:
 

.........................................
Mr J Lister
Director

.........................................
Mrs E Lister
Director

 
     
 

Longthorpe Landscape Services Limited

Notes to the Unaudited Abridged 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 and Wales.

The address of its registered office is:
31 York Road
Stamford
Lincolnshire
PE9 1LL

These financial statements were authorised for issue by the Board on 22 December 2023.

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 abridged 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 abridged 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 which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends upon the continued financial support from its directors and shareholders. The financial statements do not include any adjustments that would result if such support is not continuing.

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.

Government grants

Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met . Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

 

Longthorpe Landscape Services Limited

Notes to the Unaudited Abridged 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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% on reducing balance

Motor vehicles

25% on reducing balance

Fixtures and fittings

33% on cost

Office equipment

25% on reducing balance

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.

 

Longthorpe Landscape Services Limited

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

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

4,051

28,348

49,762

82,161

Additions

-

-

305

305

At 31 March 2023

4,051

28,348

50,067

82,466

Depreciation

At 1 April 2022

2,690

14,744

46,342

63,776

Charge for the year

486

3,402

934

4,822

At 31 March 2023

3,176

18,146

47,276

68,598

Carrying amount

At 31 March 2023

875

10,202

2,791

13,868

At 31 March 2022

1,361

13,604

3,420

18,385

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

 

Longthorpe Landscape Services Limited

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

6

Related party transactions

Included within other creditors is a balance due to the directors of the company of £79,425 (2022: £72,944).

Also included within other creditors is a balance due to Oakthorpe Limited of £2,514 (2022: £2,514), a company with directors and shareholders in common.

These balances are unsecured, interest free and repayable on demand.