Company registration number 02893222 (England and Wales)
LICHFIELD TARMACADAM LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
LICHFIELD TARMACADAM LIMITED
CONTENTS
Page
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
LICHFIELD TARMACADAM LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr D Bailey
P J Clarke
Mrs C Overton
Secretary
Mrs C Overton
Company number
02893222
Registered office
3 Plough Cottages
Huddlesford Lane
Lichfield
Staffordshire
England
WS13 8PY
Accountants
Haslehursts Limited
88 Hill Village Road
Sutton Coldfield
West Midlands
England
B75 5BE
LICHFIELD TARMACADAM LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
481,424
392,726
Current assets
Stocks
17,625
11,880
Debtors
4
222,109
345,125
Cash at bank and in hand
392,693
451,295
632,427
808,300
Creditors: amounts falling due within one year
5
(558,518)
(714,319)
Net current assets
73,909
93,981
Total assets less current liabilities
555,333
486,707
Creditors: amounts falling due after more than one year
6
(131,754)
(100,933)
Provisions for liabilities
(120,355)
(74,617)
Net assets
303,224
311,157
Capital and reserves
Called up share capital
270
240
Share premium account
18,500
18,500
Profit and loss reserves
284,454
292,417
Total equity
303,224
311,157

 

LICHFIELD TARMACADAM LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 3 -

For the financial year ended 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 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

The financial statements were approved by the board of directors and authorised for issue on 22 August 2024 and are signed on its behalf by:
P J Clarke
Director
Company registration number 02893222 (England and Wales)
LICHFIELD TARMACADAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information

Lichfield Tarmacadam Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Plough Cottages, Huddlesford Lane, Lichfield, Staffordshire, England, WS13 8PY.

1.1
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 have been prepared under the historical cost convention.

1.2
Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

1.3
Tangible fixed assets

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
10% Reducing balance
Computers
33% on cost
Motor vehicles
25% Reducing balance
1.4
Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

 

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

LICHFIELD TARMACADAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

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

2023
2022
Number
Number
Total
30
30
LICHFIELD TARMACADAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2023
301,687
13,068
468,038
782,793
Additions
6,650
4,341
182,319
193,310
Disposals
-
0
-
0
(109,010)
(109,010)
At 31 December 2023
308,337
17,409
541,347
867,093
Depreciation and impairment
At 1 January 2023
112,922
12,143
265,002
390,067
Depreciation charged in the year
18,987
1,326
57,677
77,990
Eliminated in respect of disposals
-
0
-
0
(82,388)
(82,388)
At 31 December 2023
131,909
13,469
240,291
385,669
Carrying amount
At 31 December 2023
176,428
3,940
301,056
481,424
At 31 December 2022
188,765
925
203,036
392,726
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
134,199
283,828
Corporation tax recoverable
15,119
14,026
Other debtors
72,791
47,271
222,109
345,125
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
8,929
21,428
Trade creditors
349,996
472,185
Corporation tax
42,592
78,799
Other taxation and social security
46,580
75,952
Other creditors
110,421
65,955
558,518
714,319
LICHFIELD TARMACADAM LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
-
0
8,929
Other creditors
131,754
92,004
131,754
100,933
7
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
P J Clarke
-
46,390
7,586
53,976
46,390
7,586
53,976
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