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REGISTERED NUMBER: 04553433 (England and Wales)















Lancashire PVCU Trade Frames Limited

Unaudited Financial Statements for the Year Ended 31 December 2023






Lancashire PVCU Trade Frames Limited (Registered number: 04553433)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Lancashire PVCU Trade Frames Limited

Company Information
for the Year Ended 31 December 2023







Directors: Mark Peter Rowland
Belinda Jayne Rowland





Secretary: Belinda Jayne Rowland





Registered office: Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY





Registered number: 04553433 (England and Wales)





Accountants: Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY

Lancashire PVCU Trade Frames Limited (Registered number: 04553433)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 502,697 589,450

Current assets
Stocks 321,621 488,357
Debtors 5 1,394,695 1,522,853
Cash at bank 1,384,039 1,083,215
3,100,355 3,094,425
Creditors
Amounts falling due within one year 6 1,527,164 1,687,983
Net current assets 1,573,191 1,406,442
Total assets less current liabilities 2,075,888 1,995,892

Creditors
Amounts falling due after more than
one year

7

(70,675

)

(120,440

)

Provisions for liabilities 9 (98,073 ) (119,964 )
Net assets 1,907,140 1,755,488

Capital and reserves
Called up share capital 10 80 80
Capital redemption reserve 20 20
Retained earnings 1,907,040 1,755,388
Shareholders' funds 1,907,140 1,755,488

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.

Lancashire PVCU Trade Frames Limited (Registered number: 04553433)

Statement of Financial Position - continued
31 December 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





Mark Peter Rowland - Director


Lancashire PVCU Trade Frames Limited (Registered number: 04553433)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. Statutory information

Lancashire PVCU Trade Frames 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 for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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 - 20% on reducing balance
Fixtures and fittings - 20% Straight line on cost
Motor vehicles - 25% on reducing balance

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.


Lancashire PVCU Trade Frames Limited (Registered number: 04553433)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. Accounting policies - continued
Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 45 (2022 - 50 ) .

Lancashire PVCU Trade Frames Limited (Registered number: 04553433)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. Tangible fixed assets
Leasehold Fixtures
property Plant and and Motor
improvement machinery fittings vehicles Totals
£    £    £    £    £   
Cost
At 1 January 2023 187,909 1,858,542 151,585 353,514 2,551,550
Additions - - 7,941 36,000 43,941
Disposals (187,909 ) - - (14,855 ) (202,764 )
At 31 December 2023 - 1,858,542 159,526 374,659 2,392,727
Depreciation
At 1 January 2023 187,909 1,531,627 91,361 151,203 1,962,100
Charge for year - 65,383 16,599 46,285 128,267
Eliminated on disposal (187,909 ) - - (12,428 ) (200,337 )
At 31 December 2023 - 1,597,010 107,960 185,060 1,890,030
Net book value
At 31 December 2023 - 261,532 51,566 189,599 502,697
At 31 December 2022 - 326,915 60,224 202,311 589,450

5. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 894,959 1,076,861
Other debtors 499,736 445,992
1,394,695 1,522,853

6. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans 10,000 10,000
Hire purchase contracts (see note 8) 39,764 52,228
Trade creditors 845,607 1,042,290
Taxation and social security 265,160 279,873
Other creditors 366,633 303,592
1,527,164 1,687,983

Lancashire PVCU Trade Frames Limited (Registered number: 04553433)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 16,667 26,667
Hire purchase contracts (see note 8) 54,008 93,773
70,675 120,440

8. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 39,764 52,228
Between one and five years 54,008 93,773
93,772 146,001

Non-cancellable operating leases
2023 2022
£    £   
Within one year 133,181 10,908
Between one and five years 49,140 -
182,321 10,908

9. Provisions for liabilities
2023 2022
£    £   
Deferred tax 98,073 119,964

Deferred
tax
£   
Balance at 1 January 2023 119,964
Provided during year (21,891 )
Balance at 31 December 2023 98,073

Lancashire PVCU Trade Frames Limited (Registered number: 04553433)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
80 Ordinary Shares 1 80 80

11. Capital commitments
2023 2022
£    £   
Contracted but not provided for in the
financial statements 235,500 -

12. Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mark Peter Rowland
Balance outstanding at start of year 367,327 587,227
Amounts advanced 554,737 258,115
Amounts repaid (549,109 ) (478,015 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 372,955 367,327