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COMPANY REGISTRATION NUMBER: 09146070
LPH Joinery Ltd
Unaudited Financial Statements
31 July 2023
LPH Joinery Ltd
Financial Statements
Year Ended 31 July 2023
Contents
Page
Officers and Professional Advisers
1
Director's Report
2
Statement of Income and Retained Earnings
3
Statement of Financial Position
4
Notes to the Financial Statements
5
The following pages do not form part of the financial statements
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements
8
LPH Joinery Ltd
Officers and Professional Advisers
Director
Mr L Hague
Registered Office
94 Sharples Avenue
Bolton
Lancashire
BL1 7HF
Accountants
Steve Astbury Ltd
Chartered accountants
Within Body Matters Gym
Hooley Bridge Mill
Bamford Road
Heywood
OL10 4AG
LPH Joinery Ltd
Director's Report
Year Ended 31 July 2023
The director presents his report and the unaudited financial statements of the company for the year ended 31 July 2023 .
Incorporation
The company was incorporated on 24th July 2014 and commenced trading on 1st November 2014.
Director
The director who served the company during the year was as follows:
Mr L Hague
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 17 April 2024 and signed on behalf of the board by:
Mr L Hague
Director
Registered office:
94 Sharples Avenue
Bolton
Lancashire
BL1 7HF
LPH Joinery Ltd
Statement of Income and Retained Earnings
Year Ended 31 July 2023
2023
2022
Note
£
£
Turnover
70,120
67,505
Cost of sales
1,910
1,847
--------
--------
Gross Profit
68,210
65,658
Administrative expenses
31,077
28,080
--------
--------
Operating Profit
37,133
37,578
--------
--------
Profit Before Taxation
37,133
37,578
Tax on profit
7,231
7,306
--------
--------
Profit for the Financial Year and Total Comprehensive Income
29,902
30,272
--------
--------
Dividends paid and payable
( 30,000)
( 38,800)
Retained (Losses)/Earnings at the Start of the Year
( 122)
8,406
--------
--------
Retained Losses at the End of the Year
( 220)
( 122)
--------
--------
All the activities of the company are from continuing operations.
LPH Joinery Ltd
Statement of Financial Position
31 July 2023
2023
2022
Note
£
£
£
Current Assets
Debtors
5
5,795
4,222
Cash at bank and in hand
1,845
3,600
-------
-------
7,640
7,822
Creditors: amounts falling due within one year
6
7,760
7,844
-------
-------
Net Current Liabilities
120
22
----
----
Total Assets Less Current Liabilities
( 120)
( 22)
----
----
Net Liabilities
( 120)
( 22)
----
----
Capital and Reserves
Called up share capital
100
100
Profit and loss account
( 220)
( 122)
----
----
Shareholders Deficit
( 120)
( 22)
----
----
These financial statements have been prepared 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'.
For the year ending 31 July 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 17 April 2024 , and are signed on behalf of the board by:
Mr L Hague
Director
Company registration number: 09146070
LPH Joinery Ltd
Notes to the Financial Statements
Year Ended 31 July 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 94 Sharples Avenue, Bolton, Lancashire, BL1 7HF.
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 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.
Revenue Recognition
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.
Income Tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Financial Instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Compound instruments Compound instruments comprise both a liability and an equity component. At date of issue, the fair value of the liability component is estimated using the prevailing market interest rate for a similar debt instrument. The liability component is accounted for as a financial liability. The residual is the difference between the net proceeds of issue and the liability component (at time of issue). The residual is the equity component, which is accounted for as an equity instrument. The interest expense on the liability component is calculated applying the effective interest rate for the liability component of the instrument. The difference between this amount and any repayments is added to the carrying amount of the liability in the balance sheet.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Debtors
2023
2022
£
£
Other debtors
5,795
4,222
-------
-------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
7,231
7,306
Other creditors
529
538
-------
-------
7,760
7,844
-------
-------
7. Director's Advances, Credits and Guarantees
During the year the company loaned money to the Director. The amount outstanding at the end of the year was £1351
8. Related Party Transactions
During the year, the company paid a dividend of £30,000 to the Director (2022 £38,800)
LPH Joinery Ltd
Management Information
Year Ended 31 July 2023
The following pages do not form part of the financial statements.
LPH Joinery Ltd
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of LPH Joinery Ltd
Year Ended 31 July 2023
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 31 July 2023, which comprise the statement of income and retained earnings, statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Steve Astbury Ltd Chartered accountants
Within Body Matters Gym Hooley Bridge Mill Bamford Road Heywood OL10 4AG
17 April 2024