REGISTERED NUMBER: |
Lostock Electrical Projects Company |
Limited |
Unaudited Financial Statements For The Year Ended 30 June 2024 |
REGISTERED NUMBER: |
Lostock Electrical Projects Company |
Limited |
Unaudited Financial Statements For The Year Ended 30 June 2024 |
Lostock Electrical Projects Company |
Limited (Registered number: 02000662) |
Contents of the Financial Statements |
For The Year Ended 30 June 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Lostock Electrical Projects Company |
Limited |
Company Information |
For The Year Ended 30 June 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
164 Walkden Road |
Walkden |
Worsley |
Manchester |
M28 7DP |
Lostock Electrical Projects Company |
Limited (Registered number: 02000662) |
Balance Sheet |
30 June 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stock & Work in progress |
Debtors | 5 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Lostock Electrical Projects Company |
Limited (Registered number: 02000662) |
Balance Sheet - continued |
30 June 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Lostock Electrical Projects Company |
Limited (Registered number: 02000662) |
Notes to the Financial Statements |
For The Year Ended 30 June 2024 |
1. | STATUTORY INFORMATION |
Lostock Electrical Projects Company Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the value derived during the year from the sale of goods and services in the ordinary course of business, excluding value added tax. |
Tangible fixed assets |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stock & work in progress 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 stock & work in progress to their present location and condition. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operates two defined contribution schemes, Lostock Electical Company Limited Group Pension Scheme and Lostock Electical Projects Company Limited Executive Pension Scheme. The pension represents amounts paid by the company for the accounting period. |
Lostock Electrical Projects Company |
Limited (Registered number: 02000662) |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2024 |
2. | ACCOUNTING POLICIES - continued |
Fixed asset investment |
This is stated at cost less amounts written off. |
Consolidation |
The company and its subsidiary comprise a small group. |
The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 July 2023 |
Additions |
At 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amount due from subsidiary undertaking | 3,865 | 3,865 |
Directors' current accounts | 1,299 | 1,199 |
VAT |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
Lostock Electrical Projects Company |
Limited (Registered number: 02000662) |
Notes to the Financial Statements - continued |
For The Year Ended 30 June 2024 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued |
Facilities for a bank overdraft are secured by a fixed and floating charge over the company's assets. |
7. | RELATED PARTY DISCLOSURES |
The trading activities of the company are performed in premises partly owned by the families of M T Nutter and D Simm, directors of the company. During the year rent of £20,800 (2023 £20,800) was paid to them by the company. |
8. | ULTIMATE CONTROLLING PARTY |
No individual shareholder controls the company |