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REGISTERED NUMBER: 02000662 (England and Wales)















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: M T Nutter
D J Simm





SECRETARY: D J Simm





REGISTERED OFFICE: Bankfield Street
Deane
Bolton
Lancashire
BL3 5MP





REGISTERED NUMBER: 02000662 (England and Wales)





ACCOUNTANTS: Huddart
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 52,641 44,448

CURRENT ASSETS
Stock & Work in progress 386,252 294,239
Debtors 5 795,174 762,444
Cash at bank and in hand 784,226 360,498
1,965,652 1,417,181
CREDITORS
Amounts falling due within one year 6 (1,093,075 ) (714,040 )
NET CURRENT ASSETS 872,577 703,141
TOTAL ASSETS LESS CURRENT
LIABILITIES

925,218

747,589

PROVISIONS FOR LIABILITIES (13,161 ) (8,096 )
NET ASSETS 912,057 739,493

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Retained earnings 892,057 719,493
SHAREHOLDERS' FUNDS 912,057 739,493

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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


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

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 3 September 2024 and were signed on its behalf by:





D J Simm - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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 24 (2023 - 24 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 201,102
Additions 24,700
At 30 June 2024 225,802
DEPRECIATION
At 1 July 2023 156,654
Charge for year 16,507
At 30 June 2024 173,161
NET BOOK VALUE
At 30 June 2024 52,641
At 30 June 2023 44,448

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 681,920 605,947
Amount due from subsidiary undertaking 3,865 3,865
Directors' current accounts 1,299 1,199
VAT - 41,591
Prepayments 108,090 109,842
795,174 762,444

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 424,292 419,012
Taxation and social security 354,723 64,566
Other creditors 314,060 230,462
1,093,075 714,040

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