LIBERTY CONSULT CONSTRUCT LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
Company registration number SC613268 (Scotland)
PAGES FOR FILING WITH REGISTRAR
LIBERTY CONSULT CONSTRUCT LIMITED
COMPANY INFORMATION
Director
Mr Graham Biddle
Company number
SC613268
Registered office
2 Buie Rigg
Kirkliston
West Lothian
Scotland
EH29 9FE
Accountants
Dains
46 Bank Street
Kilmarnock
Ayrshire
KA1 1HA
LIBERTY CONSULT CONSTRUCT LIMITED
CONTENTS
Page
Director's report
1
Balance sheet
2
Notes to the financial statements
3 - 6
LIBERTY CONSULT CONSTRUCT LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 1 -
The director presents his annual report and financial statements for the year ended 30 November 2023.
Principal activities
The principal activity of the company continued to be that of commercial roofing and cladding consultancy.
Director
The director who held office during the year and up to the date of signature of the financial statements was as follows:
Mr Graham Biddle
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr Graham Biddle
Director
29 August 2024
LIBERTY CONSULT CONSTRUCT LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,577
2,167
Current assets
Debtors
4
33,345
6,191
Cash at bank and in hand
125,711
1,141
159,056
7,332
Creditors: amounts falling due within one year
5
(72,578)
(9,302)
Net current assets/(liabilities)
86,478
(1,970)
Net assets
91,055
197
Capital and reserves
Called up share capital
6
1
1
Profit and loss reserves
91,054
196
Total equity
91,055
197
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 year ended 30 November 2023 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 year 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 29 August 2024
Mr Graham Biddle
Director
Company registration number SC613268 (Scotland)
LIBERTY CONSULT CONSTRUCT LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 3 -
1
Accounting policies
Company information
Liberty Consult Construct Limited is a private company limited by shares incorporated in Scotland. The registered office is 2 Buie Rigg, Kirkliston, West Lothian, Scotland, EH29 9FE.
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 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.
1.2
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. Turnover relates to the provision of commercial roofing and cladding consultancy.
1.3
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% on cost
Fixtures and fittings
20% on cost
Computers
20% on cost
1.4
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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.5
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 with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to or from related parties and investments in non-puttable ordinary shares.
LIBERTY CONSULT CONSTRUCT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.7
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.
1.8
Taxation
The tax expense represents the sum of the tax currently payable.
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.
1.9
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.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
LIBERTY CONSULT CONSTRUCT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022
5,029
Additions
4,363
Disposals
(832)
At 30 November 2023
8,560
Depreciation and impairment
At 1 December 2022
2,862
Depreciation charged in the year
1,287
Eliminated in respect of disposals
(166)
At 30 November 2023
3,983
Carrying amount
At 30 November 2023
4,577
At 30 November 2022
2,167
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
32,463
Other debtors
882
6,191
33,345
6,191
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
7,397
64
Corporation tax
30,724
4,243
Other taxation and social security
30,942
4,606
Other creditors
3,515
389
72,578
9,302
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1
1
1
1
LIBERTY CONSULT CONSTRUCT LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 6 -
7
Directors' transactions
Dividends totalling £6,200 (2022 - £27,500) were paid in the year in respect of shares held by the company's director.
During the year GS Biddle paid £8,075 into the company. The balance owed by the director as at 30 November 2023 is £1,884 (2022 - £6,191 DR).
The director is also owed £1,042 from November salary.
The director does not seek repayment of this amount within any specific time frame period and no interest is accruing on the balance owed.