Company registration number 05176001 (England and Wales)
LANCASHIRE BLAST CLEANING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
Ridehalgh Limited
Chartered Accountants
Guardian House
42 Preston New Road
Blackburn
Lancashire
BB2 6AH
LANCASHIRE BLAST CLEANING LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
LANCASHIRE BLAST CLEANING LIMITED
BALANCE SHEET
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
2,400
2,800
Tangible assets
4
8,752
4,377
11,152
7,177
Current assets
Stocks
1,500
1,500
Debtors
1,122
9,662
Cash at bank and in hand
5,069
720
7,691
11,882
Creditors: amounts falling due within one year
(11,476)
(7,098)
Net current (liabilities)/assets
(3,785)
4,784
Total assets less current liabilities
7,367
11,961
Creditors: amounts falling due after more than one year
(7,342)
(11,956)
Net assets
25
5
LANCASHIRE BLAST CLEANING LIMITED
BALANCE SHEET (CONTINUED)
2023
2022
Notes
£
£
£
£
- 2 -
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
24
4
Total equity
25
5
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 4 April 2024
Mr IG Payne
Director
Company Registration No. 05176001
LANCASHIRE BLAST CLEANING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
1
Accounting policies
Company information
Lancashire Blast Cleaning Limited is a private company limited by shares incorporated in England and Wales. The registered office is Lower Bog Height House, Bog Height Road, Darwen, BB3 0LF.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.4
Intangible fixed assets - goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 25 years.
LANCASHIRE BLAST CLEANING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 4 -
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Equipment
10% Reducing balance
Motor vehicles
25% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.7
Financial instruments
Basic financial assets
Basic financial assets, which debtors, cash and bank balances, are recognised at amortised cost.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are recognised at amortised cost.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
LANCASHIRE BLAST CLEANING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Intangible fixed assets
Goodwill
£
Cost
At 1 August 2022 and 31 July 2023
10,000
Amortisation and impairment
At 1 August 2022
7,200
Amortisation charged for the year
400
At 31 July 2023
7,600
Carrying amount
At 31 July 2023
2,400
At 31 July 2022
2,800
4
Tangible fixed assets
Equipment
Motor vehicles
Total
£
£
£
Cost
At 1 August 2022
7,591
600
8,191
Additions
4,850
4,850
At 31 July 2023
12,441
600
13,041
Depreciation and impairment
At 1 August 2022
3,467
347
3,814
Depreciation charged in the year
412
63
475
At 31 July 2023
3,879
410
4,289
Carrying amount
At 31 July 2023
8,562
190
8,752
At 31 July 2022
4,124
253
4,377