LLNE LTD

Company Registration Number:
NI698861 (Northern Ireland)

Unaudited statutory accounts for the year ended 31 July 2024

Period of accounts

Start date: 4 July 2023

End date: 31 July 2024

LLNE LTD

Contents of the Financial Statements

for the Period Ended 31 July 2024

Directors report
Balance sheet
Additional notes
Balance sheet notes

LLNE LTD

Directors' report period ended 31 July 2024

The directors present their report with the financial statements of the company for the period ended 31 July 2024

Principal activities of the company

The nature of the company's operations and its principal activities are engineering consulting and construction site supervision.



Directors

The directors shown below have held office during the whole of the period from
4 July 2023 to 31 July 2024

Liam Mc Naught
Nuala Mc Naught


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
5 October 2024

And signed on behalf of the board by:
Name: Liam Mc Naught
Status: Director

LLNE LTD

Balance sheet

As at 31 July 2024

Notes 13 months to 31 July 2024


£
Fixed assets
Tangible assets: 3 814
Total fixed assets: 814
Current assets
Debtors: 4 14,716
Cash at bank and in hand: 30,549
Total current assets: 45,265
Creditors: amounts falling due within one year: 5 ( 41,323 )
Net current assets (liabilities): 3,942
Total assets less current liabilities: 4,756
Total net assets (liabilities): 4,756
Capital and reserves
Called up share capital: 10
Profit and loss account: 4,746
Total Shareholders' funds: 4,756

The notes form part of these financial statements

LLNE LTD

Balance sheet statements

For the year ending 31 July 2024 the company was entitled to exemption 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 directors acknowledge their 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.

The directors have chosen not to file a copy of the company's profit and loss account.

This report was approved by the board of directors on 5 October 2024
and signed on behalf of the board by:

Name: Liam Mc Naught
Status: Director

The notes form part of these financial statements

LLNE LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover Turnover is measured at the fair value of the consideration receivable net of VAT and discounts. The policies adopted for the recognition of turnover and other income are as follows: Rendering of services When the outcome of a transaction can be estimated reliably, turnover from services is recognised by reference to the stage of completion of the contract at the Balance sheet date. The stage of completion is measured by reference to labour hours completed and materials consumed. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

    Tangible fixed assets depreciation policy

    Tangible assets and depreciation Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows: Computer and IT equipment - 25% Reducing balance At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimated the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current markets assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in the statement of income and retained earnings, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in the Statement of Income and Retained Earnings, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

    Other accounting policies

    Trade and other debtors Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts. Trade and other creditors Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. Taxation Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date. Foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account. Ordinary share capital The ordinary share capital of the company is presented as equity.

LLNE LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

  • 2. Employees

    13 months to 31 July 2024
    Average number of employees during the period 2

LLNE LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
Additions 1,085 1,085
Disposals
Revaluations
Transfers
At 31 July 2024 1,085 1,085
Depreciation
Charge for year 271 271
On disposals
Other adjustments
At 31 July 2024 271 271
Net book value
At 31 July 2024 814 814

LLNE LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

4. Debtors

13 months to 31 July 2024
£
Trade debtors 14,591
Prepayments and accrued income 125
Total 14,716

LLNE LTD

Notes to the Financial Statements

for the Period Ended 31 July 2024

5. Creditors: amounts falling due within one year note

13 months to 31 July 2024
£
Bank loans and overdrafts 2,320
Taxation and social security 34,928
Accruals and deferred income 2,175
Other creditors 1,900
Total 41,323