Company Registration No. 02606063 (England and Wales)
Lliw Building Supplies Limited
Unaudited accounts
for the year ended 31 December 2023
Lliw Building Supplies Limited
Unaudited accounts
Contents
Lliw Building Supplies Limited
Company Information
for the year ended 31 December 2023
Directors
Mr W G Llewelyn
Mrs M A Llewelyn
Mr R I Bevan-Jones FCA
Mrs E J Bevan-Jones
Secretary
Mr R I Bevan-Jones FCA
Company Number
02606063 (England and Wales)
Registered Office
Alloy Industrial Estate
Pontardawe
Swansea
West Glam
SA8 4EN
Lliw Building Supplies Limited
Statement of financial position
as at 31 December 2023
Tangible assets
716,658
681,523
Inventories
447,426
473,248
Cash at bank and in hand
646,066
763,621
Creditors: amounts falling due within one year
(341,819)
(340,040)
Net current assets
1,180,779
1,262,277
Total assets less current liabilities
2,000,737
1,947,100
Creditors: amounts falling due after more than one year
(86,532)
(131,085)
Provisions for liabilities
Deferred tax
(96,049)
(65,988)
Net assets
1,818,156
1,750,027
Called up share capital
40,000
40,000
Profit and loss account
1,778,156
1,710,027
Shareholders' funds
1,818,156
1,750,027
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by
Mr W G Llewelyn
Director
Company Registration No. 02606063
Lliw Building Supplies Limited
Notes to the Accounts
for the year ended 31 December 2023
Lliw Building Supplies Limited is a private company, limited by shares, registered in England and Wales, registration number 02606063. The registered office is Alloy Industrial Estate, Pontardawe, Swansea, West Glam, SA8 4EN.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line
Plant & machinery
25% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Stocks have been valued on an average cost basis.
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Lliw Building Supplies Limited
Notes to the Accounts
for the year ended 31 December 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2023
386,058
360,058
398,049
9,247
1,153,412
Additions
-
680
128,100
-
128,780
At 31 December 2023
386,058
360,738
526,149
9,247
1,282,192
At 1 January 2023
51,843
220,106
191,767
8,173
471,889
Charge for the year
1,752
34,987
56,906
-
93,645
At 31 December 2023
53,595
255,093
248,673
8,173
565,534
At 31 December 2023
332,463
105,645
277,476
1,074
716,658
At 31 December 2022
334,215
139,952
206,282
1,074
681,523
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Investments
Other investments
Valuation at 1 January 2023
3,300
Valuation at 31 December 2023
103,300
The investments represents shares in a H&B Buying group and an investment made during the year in H&B Special Projects Ltd
Finished goods
447,426
473,248
Stocks represent good for resale at cost adjusted for a provision made for slow moving stock.
Lliw Building Supplies Limited
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
Trade debtors
343,201
277,718
Accrued income and prepayments
85,905
87,730
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Creditors: amounts falling due within one year
2023
2022
Obligations under finance leases and hire purchase contracts
39,553
34,553
Trade creditors
173,033
208,896
Taxes and social security
125,118
92,252
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Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
86,532
131,085
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Average number of employees
During the year the average number of employees was 25 (2022: 27).