Company registration number 13460089 (England and Wales)
L & L HOMES (SOUTH) LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 JUNE 2022
PAGES FOR FILING WITH REGISTRAR
L & L HOMES (SOUTH) LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
L & L HOMES (SOUTH) LIMITED
BALANCE SHEET
AS AT
30 JUNE 2022
30 June 2022
- 1 -
2022
Notes
£
£
Fixed assets
Tangible assets
3
21,457
Current assets
Debtors
4
142,024
Creditors: amounts falling due within one year
5
(317,196)
Net current liabilities
(175,172)
Net liabilities
(153,715)
Capital and reserves
Called up share capital
1
Profit and loss reserves
(153,716)
Total equity
(153,715)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 9 August 2024
D S Chidwick
Director
Company registration number 13460089 (England and Wales)
L & L HOMES (SOUTH) LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 JUNE 2022
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 16 June 2021
-
0
-
0
-
Period ended 30 June 2022:
Loss and total comprehensive income
-
(153,716)
(153,716)
Issue of share capital
1
-
1
Balance at 30 June 2022
1
(153,716)
(153,715)
L & L HOMES (SOUTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2022
- 3 -
1
Accounting policies
Company information

L & L Homes (South) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 71-75 Shelton Street, Covent Garden, London, WC2H 9JQ.

1.1
Reporting period

The accounts are prepared for the period from incorporation on 16 June 2021 to 30 June 2022. the period is more than one year as 30 June 2022 is the default period end set by Companies House. The accounts presented are for the first period of trading and therefore there are no comparative figures.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

The accounts have been prepared on the going concern basis as the director has agreed to continue to provide financial support to the company and, if required, to make funds available for the payment of creditors as they fall due.true

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance
Fixtures and fittings
33% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

L & L HOMES (SOUTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2022
1
Accounting policies
(Continued)
- 4 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

L & L HOMES (SOUTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2022
1
Accounting policies
(Continued)
- 5 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2022
Number
Total
1
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 16 June 2021
-
0
Additions
26,335
At 30 June 2022
26,335
Depreciation and impairment
At 16 June 2021
-
0
Depreciation charged in the period
4,878
At 30 June 2022
4,878
Carrying amount
At 30 June 2022
21,457
4
Debtors
2022
Amounts falling due within one year:
£
Other debtors
142,024
L & L HOMES (SOUTH) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2022
- 6 -
5
Creditors: amounts falling due within one year
2022
£
Trade creditors
182,100
Taxation and social security
28,187
Other creditors
11,909
Accruals and deferred income
95,000
317,196
2022-06-302021-06-16false09 August 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityD S Chidwickfalsefalse134600892021-06-162022-06-30134600892022-06-3013460089core:OtherPropertyPlantEquipment2022-06-3013460089core:CurrentFinancialInstrumentscore:WithinOneYear2022-06-3013460089core:CurrentFinancialInstruments2022-06-3013460089core:ShareCapital2022-06-3013460089core:RetainedEarningsAccumulatedLosses2022-06-3013460089core:ShareCapital2021-06-1513460089core:RetainedEarningsAccumulatedLosses2021-06-1513460089bus:Director12021-06-162022-06-3013460089core:RetainedEarningsAccumulatedLosses2021-06-162022-06-3013460089core:ShareCapital2021-06-162022-06-3013460089core:PlantMachinery2021-06-162022-06-3013460089core:FurnitureFittings2021-06-162022-06-3013460089core:MotorVehicles2021-06-162022-06-3013460089core:OtherPropertyPlantEquipment2021-06-1513460089core:OtherPropertyPlantEquipment2021-06-162022-06-3013460089core:WithinOneYear2022-06-3013460089bus:PrivateLimitedCompanyLtd2021-06-162022-06-3013460089bus:SmallCompaniesRegimeForAccounts2021-06-162022-06-3013460089bus:FRS1022021-06-162022-06-3013460089bus:AuditExemptWithAccountantsReport2021-06-162022-06-3013460089bus:FullAccounts2021-06-162022-06-30xbrli:purexbrli:sharesiso4217:GBP