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Registration number: 09590408

Emerge Contractors Ltd
(formerly LDA Contractors Ltd)

Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

 

Emerge Contractors Ltd
(formerly LDA Contractors Ltd)

Contents

Company Information

1

Director's Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 10

 

Emerge Contractors Ltd
(formerly LDA Contractors Ltd)

Company Information

Director

Ms Emma Armstrong

Registered office

441 Gateford Road
Worksop
S81 7BN

 

Emerge Contractors Ltd
(formerly LDA Contractors Ltd)

Director's Report for the Year Ended 31 October 2023

The director presents her report and the financial statements for the year ended 31 October 2023.

Change of company name

The company changed its name from LDA Contractors Ltd to Emerge Contractors Ltd effective from 11 January 2024.

Directors of the company

The directors who held office during the year were as follows:

Ms Emma Armstrong

Mr Lee Armstrong (ceased 27 July 2023)

Principal activity

The principal activity of the company is Plumbing & Heating services

Small companies provision statement

This report has 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.

Approved and authorised by the director on 20 February 2024
 

.........................................
Ms Emma Armstrong
Director

 

Emerge Contractors Ltd
(formerly LDA Contractors Ltd)

(Registration number: 09590408)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

73,639

38,362

Current assets

 

Debtors

6

204,677

252,594

Cash at bank and in hand

 

106,842

25,689

 

311,519

278,283

Creditors: Amounts falling due within one year

7

(55,271)

(61,204)

Net current assets

 

256,248

217,079

Total assets less current liabilities

 

329,887

255,441

Creditors: Amounts falling due after more than one year

7

(51,760)

(24,800)

Net assets

 

278,127

230,641

Capital and reserves

 

Called up share capital

8

130

130

Retained earnings

277,997

230,511

Shareholders' funds

 

278,127

230,641

For the financial 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.

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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Emerge Contractors Ltd
(formerly LDA Contractors Ltd)

(Registration number: 09590408)
Balance Sheet as at 31 October 2023

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.

The Company has opted not to file the profit and loss account.

Approved and authorised by the director on 20 February 2024
 

.........................................
Ms Emma Armstrong
Director

 

Emerge Contractors Ltd
(formerly LDA Contractors Ltd)

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The company was formerly known as LDA Contractors Ltd.

The address of its registered office is:
441 Gateford Road
Worksop
S81 7BN

The principal place of business is:
14 Forest Hill Park
Worksop
Nottinghamshire
S81 0NZ

These financial statements were authorised for issue by the director on 20 February 2024.

2

Accounting policies

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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

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 GBP rounded to the nearest whole GBP.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Emerge Contractors Ltd
(formerly LDA Contractors Ltd)

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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

Plant and Machinery

25% Reducing Balance

Motor Vehicles

25% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Emerge Contractors Ltd
(formerly LDA Contractors Ltd)

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

17,304

9,066

 

Emerge Contractors Ltd
(formerly LDA Contractors Ltd)

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 November 2022

2,682

74,028

5,285

81,995

Additions

428

53,310

1,322

55,060

Disposals

-

-

(5,285)

(5,285)

At 31 October 2023

3,110

127,338

1,322

131,770

Depreciation

At 1 November 2022

2,531

38,295

2,807

43,633

Charge for the year

258

16,696

351

17,305

Eliminated on disposal

-

-

(2,807)

(2,807)

At 31 October 2023

2,789

54,991

351

58,131

Carrying amount

At 31 October 2023

321

72,347

971

73,639

At 31 October 2022

151

35,733

2,478

38,362

6

Debtors

Current

2023
£

2022
£

Trade debtors

98,424

104,681

Prepayments

2,320

2,020

Other debtors

103,933

145,893

 

204,677

252,594

 

Emerge Contractors Ltd
(formerly LDA Contractors Ltd)

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

16,701

9,600

Trade creditors

 

19,299

36,618

Taxation and social security

 

16,916

13,181

Accruals and deferred income

 

2,355

1,805

 

55,271

61,204

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

51,760

24,800

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary A of £1 each

100

100

100

100

Ordinary B of £1 each

30

30

30

30

130

130

130

130

 

Emerge Contractors Ltd
(formerly LDA Contractors Ltd)

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

Bank borrowings

15,200

24,800

Hire purchase contracts

36,560

-

51,760

24,800

Current loans and borrowings

2023
£

2022
£

Bank borrowings

9,600

9,600

Hire purchase contracts

7,101

-

16,701

9,600