Registered number
09701942
LPC Painting Limited
Report and Accounts
31 December 2023
LPC Painting Limited
Company Information
Director
L P Copestake
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Bankers
Lloyds Bank plc
130 High Street
Cheltenham
Glos
Registered office
11 Alstone Croft
Cheltenham
Glos
Registered number
09701942
LPC Painting Limited
Registered number: 09701942
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 4,645 9,285
Current assets
Debtors 5 56,219 51,656
Cash at bank and in hand 1,679 -
57,898 51,656
Creditors: amounts falling due within one year 6 (26,652) (16,661)
Net current assets 31,246 34,995
Total assets less current liabilities 35,891 44,280
Creditors: amounts falling due after more than one year 7 (35,448) (43,435)
Net assets 443 845
Capital and reserves
Called up share capital 100 100
Profit and loss account 343 745
Shareholder's funds 443 845
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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 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.
L P Copestake
Director
Approved by the board on 31 January 2024
LPC Painting Limited
Notes to the Accounts
for the year ended 31 December 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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and equipment over 4 years
Office equipment over 4 years
Motor vehicles over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2023 10,000
At 31 December 2023 10,000
Amortisation
At 1 January 2023 10,000
At 31 December 2023 10,000
Net book value
At 31 December 2023 -
4 Tangible fixed assets
Plant and equipment Office equipment Motor vehicles Total
£ £ £ £
Cost
At 1 January 2023 3,704 2,578 24,846 31,128
At 31 December 2023 3,704 2,578 24,846 31,128
Depreciation
At 1 January 2023 3,234 1,888 16,721 21,843
Charge for the year 235 345 4,060 4,640
At 31 December 2023 3,469 2,233 20,781 26,483
Net book value
At 31 December 2023 235 345 4,065 4,645
At 31 December 2022 470 690 8,125 9,285
5 Debtors 2023 2022
£ £
Trade debtors 35,469 30,656
Other debtors 20,750 21,000
56,219 51,656
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts - 512
Trade creditors 3,396 2,900
Other taxes and social security costs 21,606 11,599
Other creditors 1,650 1,650
26,652 16,661
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 35,448 43,435
8 Controlling party
The company is controlled by the director.
9 Other information
LPC Painting Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Alstone Croft
Cheltenham
Glos
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