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Registration number: 07891804

Linear Building Contractors Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 June 2023

 

Linear Building Contractors Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

Linear Building Contractors Limited

Company Information

Directors

S W Lawless

J S Monger

Registered office

Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

Accountants

Ross + Partners
Chartered Certified Accountants
Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

 

Linear Building Contractors Limited

(Registration number: 07891804)
Abridged Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

16,055

19,500

Current assets

 

Stocks

-

52,532

Debtors

125,239

98,720

Cash at bank and in hand

 

4,294

2,938

 

129,533

154,190

Creditors: Amounts falling due within one year

(139,237)

(163,937)

Net current liabilities

 

(9,704)

(9,747)

Total assets less current liabilities

 

6,351

9,753

Creditors: Amounts falling due after more than one year

(2,762)

(5,712)

Provisions for liabilities

(3,050)

(3,705)

Net assets

 

539

336

Capital and reserves

 

Called up share capital

2

2

Retained earnings

537

334

Shareholders' funds

 

539

336

For the financial 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 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 Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 15 April 2024 and signed on its behalf by:
 

 

Linear Building Contractors Limited

(Registration number: 07891804)
Abridged Balance Sheet as at 30 June 2023

.........................................
S W Lawless
Director

   
     
 

Linear Building Contractors Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

1

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.

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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Linear Building Contractors Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 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% reducing balance

Fixtures, fittings & equipment

25% straight line

Motor vehicles

25% reducing balance

Stocks

stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Linear Building Contractors Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

3

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2022

6,273

10,301

51,953

68,527

Additions

284

1,995

-

2,279

Disposals

-

-

(2,302)

(2,302)

At 30 June 2023

6,557

12,296

49,651

68,504

Depreciation

At 1 July 2022

5,455

7,280

36,292

49,027

Charge for the year

285

1,254

3,915

5,454

Eliminated on disposal

-

-

(2,032)

(2,032)

At 30 June 2023

5,740

8,534

38,175

52,449

Carrying amount

At 30 June 2023

817

3,762

11,476

16,055

At 30 June 2022

818

3,021

15,661

19,500

4

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2