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Company registration number: 03852673
Lingdale Engineering Limited
Unaudited filleted financial statements
31 October 2023
Lingdale Engineering Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Lingdale Engineering Limited
Directors and other information
Directors Mr P Benoliel
Mrs A J Benoliel
Secretary Mr P Benoliel
Company number 03852673
Registered office 11 West Avenue
Saltburn by the Sea
TS12 1QF
Accountants Censis
Exchange Building
66 Church Street
Hartlepool
TS24 7DN
Lingdale Engineering Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Lingdale Engineering Limited
Year ended 31 October 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lingdale Engineering Limited for the year ended 31 October 2023 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Lingdale Engineering Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Lingdale Engineering Limited and state those matters that we have agreed to state to the board of directors of Lingdale Engineering Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lingdale Engineering Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Lingdale Engineering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Lingdale Engineering Limited. You consider that Lingdale Engineering Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Lingdale Engineering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Censis
Chartered Accountants
Exchange Building
66 Church Street
Hartlepool
TS24 7DN
1 March 2024
Lingdale Engineering Limited
Statement of financial position
31 October 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 6 85 113
_______ _______
85 113
Current assets
Debtors 7 26,025 12,862
Cash at bank and in hand 5,139 5,000
_______ _______
31,164 17,862
Creditors: amounts falling due
within one year 8 ( 31,457) ( 12,651)
_______ _______
Net current (liabilities)/assets ( 293) 5,211
_______ _______
Total assets less current liabilities ( 208) 5,324
Creditors: amounts falling due
after more than one year 9 ( 13,620) ( 15,813)
_______ _______
Net liabilities ( 13,828) ( 10,489)
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account ( 13,928) ( 10,589)
_______ _______
Shareholders deficit ( 13,828) ( 10,489)
_______ _______
For the year ending 31 October 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 01 March 2024 , and are signed on behalf of the board by:
Mr P Benoliel
Director
Company registration number: 03852673
Lingdale Engineering Limited
Notes to the financial statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 11 West Avenue, Saltburn by the Sea, TS12 1QF.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been prepared in compliance with FRS 105 Micro Entities , 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
4. Turnover
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 1 November 2022 and 31 October 2023 2,800 4,133 6,933
_______ _______ _______
Depreciation
At 1 November 2022 2,791 4,029 6,820
Charge for the year 2 26 28
_______ _______ _______
At 31 October 2023 2,793 4,055 6,848
_______ _______ _______
Carrying amount
At 31 October 2023 7 78 85
_______ _______ _______
At 31 October 2022 9 104 113
_______ _______ _______
7. Debtors
2023 2022
£ £
Trade debtors 26,025 12,237
Other debtors - 625
_______ _______
26,025 12,862
_______ _______
8. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 2,222 2,222
Corporation tax - ( 2,477)
Social security and other taxes 4,529 4,509
Other creditors 24,706 8,397
_______ _______
31,457 12,651
_______ _______
9. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 13,620 15,813
_______ _______
10. Government grants
11. Controlling party
For the whole year the company was under the control of the directors.