1 July 2022 v2024.2.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP015274682022-07-012023-06-30015274682023-06-30015274682022-06-3001527468core:WithinOneYear2023-06-3001527468core:WithinOneYear2022-06-3001527468core:ShareCapital2023-06-3001527468core:ShareCapital2022-06-3001527468core:RetainedEarningsAccumulatedLosses2023-06-3001527468core:RetainedEarningsAccumulatedLosses2022-06-3001527468bus:Director12022-07-012023-06-3001527468bus:RegisteredOffice2022-07-012023-06-3001527468core:PlantMachinery2022-07-012023-06-3001527468core:OfficeEquipment2022-07-012023-06-30015274682021-07-012022-06-3001527468core:PlantMachinery2023-06-3001527468core:PlantMachinery2022-07-0101527468core:PlantMachinery2022-06-300152746812022-07-012023-06-3001527468countries:EnglandWales2022-07-012023-06-3001527468bus:AuditExemptWithAccountantsReport2022-07-012023-06-3001527468bus:PrivateLimitedCompanyLtd2022-07-012023-06-3001527468bus:SmallEntities2022-07-012023-06-3001527468bus:FullAccounts2022-07-012023-06-30
Company registration number:
01527468
Lloyds (Mastics) Limited
Unaudited Filleted Financial Statements for the year ended
30 June 2023
Lloyds (Mastics) Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Lloyds (Mastics) Limited
Year ended
30 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Lloyds (Mastics) Limited
for the year ended
30 June 2023
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
Lloyds (Mastics) Limited
, as a body. My work has been undertaken solely to prepare for your approval the
financial statements
of
Lloyds (Mastics) Limited
and state those matters that I have agreed to state to the Board of Directors of
Lloyds (Mastics) Limited
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​technical-factsheet-163.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Lloyds (Mastics) Limited
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Lloyds (Mastics) Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Lloyds (Mastics) Limited
. You consider that
Lloyds (Mastics) Limited
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Lloyds (Mastics) Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
SS8 Accounting Ltd
Unit 4 Fleet House
1 Armstrong Road
Benfleet
Essex
SS7 4FH
United Kingdom
Date:
19 January 2024
Lloyds (Mastics) Limited
Statement of Financial Position
30 June 2023
20232022
Note££
Fixed assets    
Tangible assets 5
1,608
 
2,143
 
Current assets    
Stocks
750
 
750
 
Debtors 6
388,723
 
27,334
 
Cash at bank and in hand
162,464
 
495,032
 
551,937
 
523,116
 
Creditors: amounts falling due within one year 7
(419,189
)
(424,373
)
Net current assets
132,748
 
98,743
 
Total assets less current liabilities 134,356   100,886  
Capital and reserves    
Called up share capital
350
 
350
 
Profit and loss account
134,006
 
100,536
 
Shareholders funds
134,356
 
100,886
 
For the year ending
30 June 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 financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
19 January 2024
, and are signed on behalf of the board by:
Mr B Webb
Director
Company registration number:
01527468
Lloyds (Mastics) Limited
Notes to the Financial Statements
Year ended
30 June 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
Suite 10 Fleet House
,
Armstrong Road
,
Benfleet
,
Essex
,
SS7 4FH
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

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.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
25% reducing balance
Office equipment
25% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

4 Average number of employees

The average number of persons employed by the company during the year was
6
(2022:
6
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 July 2022
and
30 June 2023
5,608
 
Depreciation  
At
1 July 2022
3,465
 
Charge
535
 
At
30 June 2023
4,000
 
Carrying amount  
At
30 June 2023
1,608
 
At 30 June 2022
2,143
 

6 Debtors

20232022
££
Trade debtors
44,469
 
17,320
 
Other debtors
344,254
 
10,014
 
388,723
 
27,334
 

7 Creditors: amounts falling due within one year

20232022
££
Trade creditors
25,510
 
34,490
 
Taxation and social security
56,412
 
73,962
 
Other creditors
337,267
 
315,921
 
419,189
 
424,373