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COMPANY REGISTRATION NUMBER: 12954861
LEICESTERSHIRE PAVING COMPANY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 October 2023
LEICESTERSHIRE PAVING COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION
31 October 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
2,237
18,863
CURRENT ASSETS
Debtors
6
61,236
20,070
Cash at bank and in hand
31,449
56,308
--------
--------
92,685
76,378
CREDITORS: amounts falling due within one year
7
130,958
72,310
---------
--------
NET CURRENT (LIABILITIES)/ASSETS
( 38,273)
4,068
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
( 36,036)
22,931
PROVISIONS
560
3,584
--------
--------
NET (LIABILITIES)/ASSETS
( 36,596)
19,347
--------
--------
CAPITAL AND RESERVES
Called up share capital fully paid
2
2
Profit and loss account
( 36,598)
19,345
--------
--------
SHAREHOLDERS (DEFICIT)/FUNDS
( 36,596)
19,347
--------
--------
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 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.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
LEICESTERSHIRE PAVING COMPANY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 October 2023
These financial statements were approved by the board of directors and authorised for issue on 29 July 2024 , and are signed on behalf of the board by:
Mr B Randall
Mr J Randall
Director
Director
Company registration number: 12954861
LEICESTERSHIRE PAVING COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 OCTOBER 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 18 Somerville Close, Syston, Leicester, LE7 2FE.
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 and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
Plant and machinery
-
25% straight line
Motor vehicles
-
25% straight line
Computer equipment
-
33% straight line
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 2 (2022: 2 ).
5. TANGIBLE ASSETS
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 November 2022
4,149
18,995
5,227
28,371
Additions
8,000
600
8,600
Disposals
( 26,995)
( 26,995)
-------
--------
-------
--------
At 31 October 2023
4,149
5,827
9,976
-------
--------
-------
--------
Depreciation
At 1 November 2022
1,796
4,749
2,963
9,508
Charge for the year
1,038
1,942
2,980
Disposals
( 4,749)
( 4,749)
-------
--------
-------
--------
At 31 October 2023
2,834
4,905
7,739
-------
--------
-------
--------
Carrying amount
At 31 October 2023
1,315
922
2,237
-------
--------
-------
--------
At 31 October 2022
2,353
14,246
2,264
18,863
-------
--------
-------
--------
6. DEBTORS
2023
2022
£
£
Trade debtors
5,966
10,784
Amounts owed by group undertakings and undertakings in which the company has a participating interest
6,520
Other debtors
55,270
2,766
--------
--------
61,236
20,070
--------
--------
7. CREDITORS: amounts falling due within one year
2023
2022
£
£
Trade creditors
29,190
4,915
Amounts owed to group undertakings and undertakings in which the company has a participating interest
6,910
Corporation tax
40,703
37,710
Social security and other taxes
24,380
8,639
Other creditors
29,775
21,046
---------
--------
130,958
72,310
---------
--------
8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr B Randall
( 638)
54,688
( 53,788)
262
Mr J Randall
( 38)
101,395
( 55,152)
46,205
----
---------
---------
--------
( 676)
156,083
( 108,940)
46,467
----
---------
---------
--------
2022
Balance brought forward
Advances/ (credits) to the directors
Amounts repaid
Balance outstanding
£
£
£
£
Mr B Randall
( 38)
85,550
( 86,150)
( 638)
Mr J Randall
( 38)
86,150
( 86,150)
( 38)
----
---------
---------
----
( 76)
171,700
( 172,300)
( 676)
----
---------
---------
----