Registered number
07322382
LW Renovations Ltd
Filleted Accounts
31 July 2023
LW Renovations Ltd
Registered number: 07322382
Balance Sheet
as at 31 July 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 145 207
Current assets
Stocks 12,000 -
Debtors 4 - 2,595
Cash at bank and in hand 157,122 187,791
169,122 190,386
Creditors: amounts falling due within one year 5 (32,266) (38,748)
Net current assets 136,856 151,638
Total assets less current liabilities 137,001 151,845
Provisions for liabilities (28) (88)
Net assets 136,973 151,757
Capital and reserves
Called up share capital 100 100
Profit and loss account 136,873 151,657
Shareholders' funds 136,973 151,757
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.
Lukasz Wolinski
Director
Approved by the board on 8 March 2024
LW Renovations Ltd
Notes to the Accounts
for the year ended 31 July 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks and Work in progress
Stocks and work in progress are measured at the lower of cost and estimated selling price less costs to complete and sell.
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. 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. Current and deferred tax liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2022 1,053 8,965 10,018
At 31 July 2023 1,053 8,965 10,018
Depreciation
At 1 August 2022 1,053 8,758 9,811
Charge for the year - 62 62
At 31 July 2023 1,053 8,820 9,873
Net book value
At 31 July 2023 - 145 145
At 31 July 2022 - 207 207
4 Debtors 2023 2022
£ £
Trade debtors - 2,595
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 2,067 5,985
Taxation and social security costs 23,764 30,144
Other creditors, money due to directors 6,435 2,619
32,266 38,748
6 Other information
LW Renovations Ltd is a private company limited by shares and incorporated in England. Its registered office is:
27 Castlecombe Drive
London
SW19 6RR
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