LHS Developments (South Wales) Limited
Registered number: 11630479
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Current assets
Stocks 771,000 198,950
Debtors 3 685,979 145,000
Cash at bank and in hand 81,867 838,322
1,538,846 1,182,272
Creditors: amounts falling due within one year 4 (1,048,089) (701,564)
Net current assets 490,757 480,708
Net assets 490,757 480,708
Capital and reserves
Called up share capital 100 100
Profit and loss account 490,657 480,608
Shareholders' funds 490,757 480,708
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M R Lewis
Director
Approved by the board on 26 July 2024
LHS Developments (South Wales) Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable . Turnover includes revenue earned from the sale of residential properties and is included when the contracts are exchanged.
Stocks
Stocks include freehold land and buildings and various costs incurred in developing the land.
Taxation
A current tax liability is recognised for the tax payable on taxable profit of current and past period
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Debtors 2023 2022
£ £
Trade debtors 60,979 20,000
Other debtors 625,000 125,000
685,979 145,000
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 488,312 21,830
Taxation and social security costs 2,497 112,735
Other creditors 557,280 566,999
1,048,089 701,564
5 Other information
LHS Developments (South Wales) Limited is a private company limited by shares and incorporated in England. Its registered office is:
10 Bronheulwen
Porth
Wales
CF39 0BJ
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