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Company No: 00685317 (England and Wales)

L.J.TREGUNNA (BUILDERS) LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

L.J.TREGUNNA (BUILDERS) LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

L.J.TREGUNNA (BUILDERS) LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
L.J.TREGUNNA (BUILDERS) LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTOR K J Tregunna
SECRETARY K J Tregunna
REGISTERED OFFICE 49 Kenwyn Street
Truro
United Kingdom
COMPANY NUMBER 00685317 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
L.J.TREGUNNA (BUILDERS) LIMITED

BALANCE SHEET

As at 31 March 2024
L.J.TREGUNNA (BUILDERS) LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 181,797 190,812
Investment property 4 718,471 718,471
900,268 909,283
Current assets
Stocks 5 5,100 3,775
Debtors 6 106,418 67,765
Cash at bank and in hand 82,634 93,685
194,152 165,225
Creditors: amounts falling due within one year 7 ( 66,264) ( 64,033)
Net current assets 127,888 101,192
Total assets less current liabilities 1,028,156 1,010,475
Provision for liabilities ( 74,521) ( 76,775)
Net assets 953,635 933,700
Capital and reserves
Called-up share capital 9,500 9,500
Revaluation reserve 260,585 260,585
Profit and loss account 683,550 663,615
Total shareholder's funds 953,635 933,700

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of L.J.Tregunna (Builders) Limited (registered number: 00685317) were approved and authorised for issue by the Director on 24 July 2024. They were signed on its behalf by:

K J Tregunna
Director
L.J.TREGUNNA (BUILDERS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
L.J.TREGUNNA (BUILDERS) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

L.J.Tregunna (Builders) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 49 Kenwyn Street, Truro, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of building and undertaking services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

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.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 15 % reducing balance
Vehicles 15 - 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 9 8

3. Tangible assets

Land and buildings Plant and machinery Vehicles Total
£ £ £ £
Cost
At 01 April 2023 95,592 88,995 282,983 467,570
Additions 0 7,147 0 7,147
At 31 March 2024 95,592 96,142 282,983 474,717
Accumulated depreciation
At 01 April 2023 0 62,140 214,618 276,758
Charge for the financial year 0 4,868 11,294 16,162
At 31 March 2024 0 67,008 225,912 292,920
Net book value
At 31 March 2024 95,592 29,134 57,071 181,797
At 31 March 2023 95,592 26,855 68,365 190,812

4. Investment property

Investment property
£
Valuation
As at 01 April 2023 718,471
As at 31 March 2024 718,471

5. Stocks

2024 2023
£ £
Stocks 5,100 3,775

6. Debtors

2024 2023
£ £
Trade debtors 52,758 33,678
Other debtors 53,660 34,087
106,418 67,765

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 17,051 19,208
Taxation and social security 32,915 29,072
Other creditors 16,298 15,753
66,264 64,033

8. Related party transactions

Transactions with the entity's director

2024 2023
£ £
K J Tregunna 38,055 15,654

During the year £38,401 (2023 - £31,748) was advanced to the director and £16,000 (2023 - £11,000) was repaid. At the balance sheet date the amount due to the company was £38,055 (2023 - £15,654).