REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 FEBRUARY 2022 TO 28 FEBRUARY 2023 |
FOR |
LF INFRASTRUCTURE LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 FEBRUARY 2022 TO 28 FEBRUARY 2023 |
FOR |
LF INFRASTRUCTURE LIMITED |
LF INFRASTRUCTURE LIMITED (REGISTERED NUMBER: 09038859) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Period 1 FEBRUARY 2022 TO 28 FEBRUARY 2023 |
Page |
Statement of Financial Position | 1 |
Notes to the Financial Statements | 2 |
LF INFRASTRUCTURE LIMITED (REGISTERED NUMBER: 09038859) |
STATEMENT OF FINANCIAL POSITION |
28 FEBRUARY 2023 |
2023 | 2022 |
(Unaudited) |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
LF INFRASTRUCTURE LIMITED (REGISTERED NUMBER: 09038859) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Period 1 FEBRUARY 2022 TO 28 FEBRUARY 2023 |
1. | STATUTORY INFORMATION |
LF Infrastructure Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The accounts cover the 13 month period from 1st February 2022 to 28th February 2023. The accounting reference date was shortened in order to align the year ends of the group entities. For this reason the comparative figures may not be entirely comparable. |
Significant judgements and estimates |
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates. |
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods. |
There are no significant judgements or estimates involved in the preparation of the financial statements. |
Revenue |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Revenue is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. |
Property, plant and equipment |
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended. |
The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. |
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives. |
Plant and machinery - 25% on reducing balance |
Motor vehicle - 25% on reducing balance |
LF INFRASTRUCTURE LIMITED (REGISTERED NUMBER: 09038859) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 FEBRUARY 2022 TO 28 FEBRUARY 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all material timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
Cash and cash equivalents |
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value. |
Financial instruments |
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. |
Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss. |
Investments |
Investments are measured at cost less accumulated impairment. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
LF INFRASTRUCTURE LIMITED (REGISTERED NUMBER: 09038859) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 FEBRUARY 2022 TO 28 FEBRUARY 2023 |
4. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
£ |
COST |
At 1 February 2022 |
and 28 February 2023 |
DEPRECIATION |
At 1 February 2022 |
Charge for period |
At 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 31 January 2022 |
5. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 February 2022 |
Additions |
Disposals | ( |
) |
At 28 February 2023 |
NET BOOK VALUE |
At 28 February 2023 |
At 31 January 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
(Unaudited) |
£ | £ |
Trade debtors |
Amounts owed by connected companies |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
(Unaudited) |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Amounts owed to connected companies |
Taxation and social security |
Other creditors |
LF INFRASTRUCTURE LIMITED (REGISTERED NUMBER: 09038859) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Period 1 FEBRUARY 2022 TO 28 FEBRUARY 2023 |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
(Unaudited) |
£ | £ |
Bank loans |
9. | SECURED DEBTS |
There is a Debenture in place dated 23 September 2021 secured by way of a negative pledge and a fixed and floating charge over the assets of the company. |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Included in other debtors less than one year is an amount of £175,326 (2022: 180,300) due from connected companies under common control. |
Included in other creditors less than one year is an amount of £5,500 (2022: £55,400) due to a connected company under common control. |
The loans were interest free and repayable on demand. |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party is AOI Holdings Ltd. |
13. | COMPARATIVES |
The comparative figures in the financial statements are unaudited. |