Registered number
07407611
Lura Constructions Ltd
Filleted Accounts
31 October 2023
Lura Constructions Ltd
Registered number: 07407611
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 93,115 81,135
Current assets
Stocks 200,009 200,874
Debtors 4 69,233 70,591
Cash at bank and in hand 3,210,957 4,514,811
3,480,199 4,786,276
Creditors: amounts falling due within one year 5 (1,248,686) (3,122,971)
Net current assets 2,231,513 1,663,305
Total assets less current liabilities 2,324,628 1,744,440
Creditors: amounts falling due after more than one year 6 (38,333) (61,333)
Net assets 2,286,295 1,683,107
Capital and reserves
Called up share capital 100 100
Profit and loss account 2,286,195 1,683,007
Shareholders' funds 2,286,295 1,683,107
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 members have 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 and delivered 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.
Mr Esat Murati
Director
Approved by the board on 29 August 2024
Lura Constructions Ltd
Notes to the Accounts
for the year ended 31 October 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 (as applied to small entities by section 1A of the standard).
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.
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 machinery 20% reducing balance method
Motor vehicles 20% reducing balance method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 23 23
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2022 123,357 33,661 157,018
Additions 9,633 25,625 35,258
At 31 October 2023 132,990 59,286 192,276
Depreciation
At 1 November 2022 57,644 18,239 75,883
Charge for the year 15,069 8,209 23,278
At 31 October 2023 72,713 26,448 99,161
Net book value
At 31 October 2023 60,277 32,838 93,115
At 31 October 2022 65,713 15,422 81,135
4 Debtors 2023 2022
£ £
Trade debtors - 66,165
S455 Tax 4,426 4,426
Other debtors & prepayments 64,807 -
69,233 70,591
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 23,000 23,000
Trade creditors 321,755 2,403,142
Taxation and social security costs 510,132 350,670
Corporation tax 189,842 260,300
Other creditors 203,957 85,859
1,248,686 3,122,971
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 38,333 61,333
7 Related party transactions
There was no related party transaction apart from salary and dividend paid to the director.
8 Controlling party
The company is 100% controlled by Mr Esat Murati by virtue of his shareholding.
9 Other information
Lura Constructions Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Unit 16 Waltham Park Way
Billet Road, London
England
E17 5DU
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