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COMPANY REGISTRATION NUMBER: 01516850
LINLEY'S BUILDERS (LEEDS) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
27 December 2022
LINLEY'S BUILDERS (LEEDS) LIMITED
FINANCIAL STATEMENTS
PERIOD FROM 30 DECEMBER 2021 TO 27 DECEMBER 2022
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
LINLEY'S BUILDERS (LEEDS) LIMITED
STATEMENT OF FINANCIAL POSITION
27 December 2022
27 Dec 22
29 Dec 21
Note
£
£
£
FIXED ASSETS
Tangible assets
5
15,178
25,527
CURRENT ASSETS
Stocks
430,963
430,963
Debtors
6
385,998
503,956
Cash at bank and in hand
23,606
---------
---------
840,567
934,919
CREDITORS: amounts falling due within one year
7
( 854,766)
( 986,826)
---------
---------
NET CURRENT LIABILITIES
( 14,199)
( 51,907)
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
979
( 26,380)
CREDITORS: amounts falling due after more than one year
8
( 23,258)
( 33,333)
--------
--------
NET LIABILITIES
( 22,279)
( 59,713)
--------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
( 22,379)
( 59,813)
--------
--------
SHAREHOLDERS DEFICIT
( 22,279)
( 59,713)
--------
--------
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 income and retained earnings has not been delivered.
For the period ending 27 December 2022 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 period 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 .
LINLEY'S BUILDERS (LEEDS) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
27 December 2022
These financial statements were approved by the board of directors and authorised for issue on 4 April 2024 , and are signed on behalf of the board by:
J Linley
Director
Company registration number: 01516850
LINLEY'S BUILDERS (LEEDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 30 DECEMBER 2021 TO 27 DECEMBER 2022
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Havercroft, Chapel Hill, Kearby, Wetherby, LS22 4BU.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared under the historical cost convention. The financial statements have been prepared on the going concern basis. The directors consider the going concern basis to be appropriate and have confirmed their ongoing support. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation to date.
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:
Equipment
-
25% straight line
Motor vehicles
-
25% straight line
Fixtures & fittings
-
15 % straight line
Stocks
Stocks are valued at the lower of cost and net realisable value.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 2 (2021: 2 ).
5. TANGIBLE ASSETS
Equipment
Motor vehicles
Fixtures and fittings
Total
£
£
£
£
Cost
At 30 December 2021 and 27 December 2022
4,709
37,820
413
42,942
-------
--------
----
--------
Depreciation
At 30 December 2021
3,637
13,365
413
17,415
Charge for the period
894
9,455
10,349
-------
--------
----
--------
At 27 December 2022
4,531
22,820
413
27,764
-------
--------
----
--------
Carrying amount
At 27 December 2022
178
15,000
15,178
-------
--------
----
--------
At 29 December 2021
1,072
24,455
25,527
-------
--------
----
--------
6. DEBTORS
27 Dec 22
29 Dec 21
£
£
Trade debtors
365,998
483,956
Other debtors
20,000
20,000
---------
---------
385,998
503,956
---------
---------
7. CREDITORS: amounts falling due within one year
27 Dec 22
29 Dec 21
£
£
Bank loans and overdrafts
10,010
26,449
Trade creditors
87,398
111,099
Social security and other taxes
222,305
254,321
Other creditors
535,053
594,957
---------
---------
854,766
986,826
---------
---------
8. CREDITORS: amounts falling due after more than one year
27 Dec 22
29 Dec 21
£
£
Bank loans and overdrafts
23,258
33,333
--------
--------