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REGISTERED NUMBER: 04765971 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

LITCHFIELD ROOFING CONTRACTORS LTD

LITCHFIELD ROOFING CONTRACTORS LTD (REGISTERED NUMBER: 04765971)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


LITCHFIELD ROOFING CONTRACTORS LTD (REGISTERED NUMBER: 04765971)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,304 614,820
Investment property 6 436,005 -
437,309 614,820

CURRENT ASSETS
Debtors 7 6,616 15,219
Cash at bank 261,863 12,727
268,479 27,946
CREDITORS
Amounts falling due within one year 8 290,272 321,666
NET CURRENT LIABILITIES (21,793 ) (293,720 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

415,516

321,100

CREDITORS
Amounts falling due after more than one
year

9

(18,333

)

(28,333

)

PROVISIONS FOR LIABILITIES (248 ) (402 )
NET ASSETS 396,935 292,365

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 396,835 292,265
SHAREHOLDERS' FUNDS 396,935 292,365

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LITCHFIELD ROOFING CONTRACTORS LTD (REGISTERED NUMBER: 04765971)

BALANCE SHEET - continued
31 AUGUST 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 4 March 2024 and were signed by:





Mr G P Litchfield - Director


LITCHFIELD ROOFING CONTRACTORS LTD (REGISTERED NUMBER: 04765971)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023


1. STATUTORY INFORMATION

Litchfield Roofing Contractors Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04765971

Registered office: 15 Waterloo
Frome
Somerset
BA11 3JB

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the net invoiced sales of good and services, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost and not provided
Plant and machinery - 20% on reducing balance
Office equipment - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year 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 balance sheet date.


LITCHFIELD ROOFING CONTRACTORS LTD (REGISTERED NUMBER: 04765971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

Research and product development
Expenditure on research and product development is written off in the year in which it is incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 66,667
AMORTISATION
At 1 September 2022
and 31 August 2023 66,667
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

LITCHFIELD ROOFING CONTRACTORS LTD (REGISTERED NUMBER: 04765971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


5. TANGIBLE FIXED ASSETS
Freehold Plant and Office
property machinery equipment Totals
£    £    £    £   
COST
At 1 September 2022 626,730 11,460 3,419 641,609
Disposals (70,000 ) (8,499 ) (2,406 ) (80,905 )
Reclassification/transfer (556,730 ) - - (556,730 )
At 31 August 2023 - 2,961 1,013 3,974
DEPRECIATION
At 1 September 2022 14,025 10,343 2,421 26,789
Charge for year 106 171 158 435
Eliminated on disposal (14,131 ) (8,234 ) (2,189 ) (24,554 )
At 31 August 2023 - 2,280 390 2,670
NET BOOK VALUE
At 31 August 2023 - 681 623 1,304
At 31 August 2022 612,705 1,117 998 614,820

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 268,079
Disposals (388,804 )
Reclassification/transfer 556,730
At 31 August 2023 436,005
NET BOOK VALUE
At 31 August 2023 436,005

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,345 3,091
Other debtors 5,271 12,128
6,616 15,219

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 29,665
Trade creditors 82,499 68,226
Taxation and social security 28,109 5,177
Other creditors 169,664 218,598
290,272 321,666

LITCHFIELD ROOFING CONTRACTORS LTD (REGISTERED NUMBER: 04765971)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023


9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 18,333 28,333

10. TRANSACTIONS WITH DIRECTORS

Included in other creditors falling due within one year is a loan to the company from the director amounting to £128,019 (2022 - £152,767). This loan is non-interest bearing and repayable on demand.

During the year dividends amounting to £35,000 were paid to the director (2022 - £10,000).

11. RELATED PARTY DISCLOSURES

Included in other creditors are funds loaned by Charbel Properties Ltd, a company under the control of Mr G P Litchfield. The amount outstanding at the balance sheet date was £40,692 (2022 - £64,942).

During the year Charbel Properties Ltd charged management charges amounting to £60,000 (2022 - £20,000).

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr G P Litchfield.