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Company Registration No. NI666469 (Northern Ireland)
L&S PAINTING CONTRACTORS LTD Unaudited accounts for the year ended 31 December 2023
L&S PAINTING CONTRACTORS LTD Unaudited accounts Contents
Page
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L&S PAINTING CONTRACTORS LTD Company Information for the year ended 31 December 2023
Director
Christopher Lyttle
Company Number
NI666469 (Northern Ireland)
Registered Office
52 MENIN ROAD ANTRIM BT41 4JB NORTHERN IRELAND
Accountants
DJB Accounting Ltd 34 Knockmoyle Drive Greystone Road Antrim BT41 1HE
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L&S PAINTING CONTRACTORS LTD Accountants' report
Accountants' report to the director of L&S PAINTING CONTRACTORS LTD on the preparation of the unaudited statutory accounts for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of L&S PAINTING CONTRACTORS LTD for the year ended 31 December 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of L&S PAINTING CONTRACTORS LTD, as a body, in accordance with the terms of our engagement letter dated 1 October 2021. Our work has been undertaken solely to prepare for your approval the accounts of L&S PAINTING CONTRACTORS LTD and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than L&S PAINTING CONTRACTORS LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that L&S PAINTING CONTRACTORS LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of L&S PAINTING CONTRACTORS LTD. You consider that L&S PAINTING CONTRACTORS LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of L&S PAINTING CONTRACTORS LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
DJB Accounting Ltd 34 Knockmoyle Drive Greystone Road Antrim BT41 1HE 14 September 2024
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L&S PAINTING CONTRACTORS LTD Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,118 
14,246 
Current assets
Debtors
63,177 
106,086 
Cash at bank and in hand
20,764 
29,801 
83,941 
135,887 
Creditors: amounts falling due within one year
(14,723)
(17,962)
Net current assets
69,218 
117,925 
Net assets
75,336 
132,171 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
75,335 
132,170 
Shareholders' funds
75,336 
132,171 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 14 September 2024 and were signed on its behalf by
Christopher Lyttle Director Company Registration No. NI666469
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L&S PAINTING CONTRACTORS LTD Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
L&S PAINTING CONTRACTORS LTD is a private company, limited by shares, registered in Northern Ireland, registration number NI666469. The registered office is 52 MENIN ROAD, ANTRIM, BT41 4JB, NORTHERN IRELAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Straight Line
Motor vehicles
25% Straight Line
Fixtures & fittings
25% Straight Line
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
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L&S PAINTING CONTRACTORS LTD Notes to the Accounts for the year ended 31 December 2023
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director shall continue to adopt the going concern basis of accounting in preparing the financial statements.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 January 2023
1,611 
30,182 
432 
32,225 
At 31 December 2023
1,611 
30,182 
432 
32,225 
Depreciation
At 1 January 2023
1,137 
16,518 
324 
17,979 
Charge for the year
474 
7,546 
108 
8,128 
At 31 December 2023
1,611 
24,064 
432 
26,107 
Net book value
At 31 December 2023
- 
6,118 
- 
6,118 
At 31 December 2022
474 
13,664 
108 
14,246 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
4,158 
2,027 
Trade debtors
22,467 
40,532 
Other debtors
36,552 
- 
63,177 
42,559 
Amounts falling due after more than one year
Accrued income and prepayments
- 
63,527 
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L&S PAINTING CONTRACTORS LTD Notes to the Accounts for the year ended 31 December 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
4,626 
6,626 
VAT
8 
- 
Taxes and social security
12,925 
9,888 
Loans from directors
(2,836)
1,448 
14,723 
17,962 
7
Average number of employees
During the year the average number of employees was 4 (2022: 4).
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