LB Homes Limited 06214430 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of construction and project management of domestic buildings. Digita Accounts Production Advanced 6.30.9574.0 true true 06214430 2022-04-01 2023-03-31 06214430 2023-03-31 06214430 core:RetainedEarningsAccumulatedLosses 2023-03-31 06214430 core:ShareCapital 2023-03-31 06214430 core:CurrentFinancialInstruments 2023-03-31 06214430 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06214430 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 06214430 core:FurnitureFittingsToolsEquipment 2023-03-31 06214430 core:MotorVehicles 2023-03-31 06214430 core:OtherPropertyPlantEquipment 2023-03-31 06214430 bus:SmallEntities 2022-04-01 2023-03-31 06214430 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 06214430 bus:AbridgedAccounts 2022-04-01 2023-03-31 06214430 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 06214430 bus:RegisteredOffice 2022-04-01 2023-03-31 06214430 bus:Director1 2022-04-01 2023-03-31 06214430 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 06214430 core:ComputerEquipment 2022-04-01 2023-03-31 06214430 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 06214430 core:MotorVehicles 2022-04-01 2023-03-31 06214430 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 06214430 core:PlantMachinery 2022-04-01 2023-03-31 06214430 countries:EnglandWales 2022-04-01 2023-03-31 06214430 2022-03-31 06214430 core:FurnitureFittingsToolsEquipment 2022-03-31 06214430 core:MotorVehicles 2022-03-31 06214430 core:OtherPropertyPlantEquipment 2022-03-31 06214430 2021-04-01 2022-03-31 06214430 2022-03-31 06214430 core:RetainedEarningsAccumulatedLosses 2022-03-31 06214430 core:ShareCapital 2022-03-31 06214430 core:CurrentFinancialInstruments 2022-03-31 06214430 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 06214430 core:Non-currentFinancialInstruments core:AfterOneYear 2022-03-31 06214430 core:FurnitureFittingsToolsEquipment 2022-03-31 06214430 core:MotorVehicles 2022-03-31 06214430 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 06214430

LB Homes Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2023

 

LB Homes Limited

Contents

Abridged Balance Sheet

1 to 2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

LB Homes Limited

(Registration number: 06214430)
Abridged Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,195

1,402

Current assets

 

Debtors

5

1,233

1,257

Cash at bank and in hand

 

8,244

357,454

 

9,477

358,711

Prepayments and accrued income

 

916

956

Creditors: Amounts falling due within one year

(38,992)

(348,619)

Net current (liabilities)/assets

 

(28,599)

11,048

Total assets less current liabilities

 

(27,404)

12,450

Creditors: Amounts falling due after more than one year

(22,700)

(32,389)

Provisions for liabilities

-

(266)

Accruals and deferred income

 

(950)

(950)

Net liabilities

 

(51,054)

(21,155)

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

(52,054)

(22,155)

Shareholders' deficit

 

(51,054)

(21,155)

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.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

 

LB Homes Limited

(Registration number: 06214430)
Abridged Balance Sheet as at 31 March 2023

Approved and authorised by the director on 20 December 2023
 

.........................................

J Singh

Director

 

LB Homes 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:
45 Empingham Road
Stamford
Lincolnshire
PE9 2RJ

These financial statements were authorised for issue by the director on 20 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 buildings 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.

 

LB Homes Limited

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

Tax

The tax expense for the period comprises 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 income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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

Computer equipment

25% on reducing balance

Motor vehicles

25% on reducing balance

stocks

Work in progress is stated at the lower of cost and net realisable value. Work in progress comprises direct materials, labour costs, site overheads, associated professional charges and other attributable overheads. Net realisable value represents the estimated selling prices less all estimated costs of completion.
Valuations which include an estimation of costs to complete and remaining revenues are carried out at regular intervals throughout the year.

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.

3

Staff numbers

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

 

LB Homes Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

2,272

4,890

990

8,152

Additions

-

-

192

192

At 31 March 2023

2,272

4,890

1,182

8,344

Depreciation

At 1 April 2022

1,569

4,684

497

6,750

Charge for the year

176

52

171

399

At 31 March 2023

1,745

4,736

668

7,149

Carrying amount

At 31 March 2023

527

154

514

1,195

At 31 March 2022

703

206

493

1,402

5

Debtors

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