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Registration number: 09578118

Luke Flint Building Services Limited

Unaudited Financial Statements

for the Year Ended 31 May 2023

 

Luke Flint Building Services Limited

(Registration number: 09578118)

Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

4,776

6,174

Current assets

 

Stocks

3,000

3,000

Debtors

4

8,318

12,451

Cash at bank and in hand

 

385

363

 

11,703

15,814

Creditors: Amounts falling due within one year

5

(8,132)

(8,684)

Net current assets

 

3,571

7,130

Net assets

 

8,347

13,304

Capital and reserves

 

Called up share capital

1

1

Profit and loss account

8,346

13,303

Shareholders' funds

 

8,347

13,304

 

Luke Flint Building Services Limited

(Registration number: 09578118)

Balance Sheet as at 31 May 2023 (continued)

For the financial year ending 31 May 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.

These financial statements, which 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 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 21 February 2024
 

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

Mr L Flint
Director

 

Luke Flint Building Services Limited

Notes to the Financial Statements for the Year Ended 31 May 2023

1

Accounting policies

Statutory information

Luke Flint Building Services Limited is a private company, limited by shares, domiciled in England and Wales, company number 09578118. The registered office is at 122 Northern Avenue, Sheffield, S2 2EH.

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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These 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. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

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 and after eliminating sales within the company.

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

Motor vehicles

20% straight line basis

 

Luke Flint Building Services Limited

Notes to the Financial Statements for the Year Ended 31 May 2023 (continued)

1

Accounting policies (continued)

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.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.
 
 

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

3

Tangible assets

Motor vehicles
 £

Cost or valuation

At 1 June 2022

6,989

At 31 May 2023

6,989

Depreciation

At 1 June 2022

815

Charge for the year

1,398

At 31 May 2023

2,213

Carrying amount

At 31 May 2023

4,776

At 31 May 2022

6,174

 

Luke Flint Building Services Limited

Notes to the Financial Statements for the Year Ended 31 May 2023 (continued)

4

Debtors

2023
£

2022
£

Trade debtors

4,364

3,640

Director's loan accounts

3,954

8,811

 

8,318

12,451

5

Creditors

2023
£

2022
£

Due within one year

Trade creditors

1,110

960

Taxation and social security

1,244

710

Other creditors

4,614

6,114

Accruals

1,164

900

8,132

8,684

6

Related party transactions

During the year the director had an interest free loan account with the company. At the year end the amount owed to the company was £3,954 (2022 - £8,811).