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REGISTERED NUMBER: 01034035 (England and Wales)












LEOMINSTER CONSTRUCTION LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






LEOMINSTER CONSTRUCTION LIMITED (REGISTERED NUMBER: 01034035)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7

Chartered Certified Accountants' Report 8

LEOMINSTER CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Mr M M Mifflin
Mr J Mifflin
Mr S Hunt
Mr A Mifflin
Mrs C Hunt





SECRETARY: Mr J Mifflin





REGISTERED OFFICE: Unit 4
Southern Avenue Industrial Estate
Leominster
Herefordshire
HR6 OQF





REGISTERED NUMBER: 01034035 (England and Wales)





ACCOUNTANTS: Lockett & Co
Chartered Certified Accountants
Shelton House
Coningsby Street
Hereford
Herefordshire
HR1 2DY

LEOMINSTER CONSTRUCTION LIMITED (REGISTERED NUMBER: 01034035)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 610,760 551,546

CURRENT ASSETS
Stocks 2,408 9,153
Debtors 5 691,491 927,687
Cash at bank 813,970 728,521
1,507,869 1,665,361
CREDITORS
Amounts falling due within one year 6 428,831 659,297
NET CURRENT ASSETS 1,079,038 1,006,064
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,689,798

1,557,610

CREDITORS
Amounts falling due after more than one
year

7

(11,373

)

(12,062

)

PROVISIONS FOR LIABILITIES (48,073 ) (2,248 )
NET ASSETS 1,630,352 1,543,300

CAPITAL AND RESERVES
Called up share capital 248 248
Capital redemption reserve 252 252
Revaluation reserve 352,499 352,499
Retained earnings 1,277,353 1,190,301
SHAREHOLDERS' FUNDS 1,630,352 1,543,300

LEOMINSTER CONSTRUCTION LIMITED (REGISTERED NUMBER: 01034035)

BALANCE SHEET - continued
31 DECEMBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 September 2024 and were signed on its behalf by:





Mr M M Mifflin - Director


LEOMINSTER CONSTRUCTION LIMITED (REGISTERED NUMBER: 01034035)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Leominster Construction 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents the fair value of goods sold and services provided under construction contracts with customers to the extent that there is a right to consideration. It is measured at the fair value of the consideration due. Where a service is incomplete at the period end, turnover represents the value of the service provided to that date based on an appropriate proportion of the total expected consideration at completion.

Tangible fixed assets
Tangible fixed assets are stated at cost or deemed cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates in order to write off the cost of each asset less its estimated residual value over its estimated useful life.

Freehold land- no depreciation
Freehold buildings- 2% straight line basis
Fixed plant- 5% straight line basis
Motor vehicles- 25% on reducing balance
Plant and machinery- 20% on reducing balance

Government grants
Government grants are recognised using the accrual model. Grants relating to revenue are recognised in other income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants relating to assets are recognised in other income on a systematic basis over the expected useful life of the asset. The deferred element is recognised as deferred income on the balance sheet.

Stocks
Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads

Amounts recoverable on contracts
Amounts recoverable on contracts represent the value of incomplete services at the period end, under construction contracts with customers recorded as sales.

Financial instruments
Financial assets and financial liabilities are recognised on the balance sheet when the entity becomes party to the contractual provisions of the financial instrument.

Debtors and Creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.


LEOMINSTER CONSTRUCTION LIMITED (REGISTERED NUMBER: 01034035)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Research and development
Expenditure on research and development is written off against profits in the year in which it is incurred.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2022 - 15 ) .

LEOMINSTER CONSTRUCTION LIMITED (REGISTERED NUMBER: 01034035)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 495,557 345,033 840,590
Additions - 95,611 95,611
Disposals - (15,500 ) (15,500 )
At 31 December 2023 495,557 425,144 920,701
DEPRECIATION
At 1 January 2023 64,030 225,014 289,044
Charge for year 6,590 26,097 32,687
Eliminated on disposal - (11,790 ) (11,790 )
At 31 December 2023 70,620 239,321 309,941
NET BOOK VALUE
At 31 December 2023 424,937 185,823 610,760
At 31 December 2022 431,527 120,019 551,546

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts recoverable on contracts 689,818 917,116
Other debtors 1,673 10,571
691,491 927,687

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 351,260 589,975
Taxation and social security 59,054 29,134
Other creditors 18,517 40,188
428,831 659,297

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 11,373 12,062

8. PENSION COMMITMENTS

The company operates defined contribution pension schemes. The assets of the schemes are held separately from those of the company in independently administered funds. At the balance sheet date unpaid contributions of £2,391 (2022 - £1,771) were due to the funds. They are included in other creditors.

LEOMINSTER CONSTRUCTION LIMITED (REGISTERED NUMBER: 01034035)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. OTHER FINANCIAL COMMITMENTS

At 31 December 2023, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £34,290 (2022 - £35,590).

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LEOMINSTER CONSTRUCTION LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Profit and Loss Account and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Leominster Construction Limited for the year ended 31 December 2023 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Leominster Construction Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Leominster Construction Limited and state those matters that we have agreed to state to the Board of Directors of Leominster Construction Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Leominster Construction Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Leominster Construction Limited. You consider that Leominster Construction Limited 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 financial statements of Leominster Construction Limited. 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 financial statements.






Lockett & Co
Chartered Certified Accountants
Shelton House
Coningsby Street
Hereford
Herefordshire
HR1 2DY


17 September 2024