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REGISTERED NUMBER: 10083633 (England and Wales)











GROUP STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

AUDITED

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LITTLEBURY DEVELOPMENTS LIMITED

LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Director 3

Report of the Independent Auditor 5

Consolidated Statement of Income and Retained
Earnings

9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Cash Flow Statement 12

Notes to the Consolidated Financial Statements 13


LITTLEBURY DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: P J Allgood



REGISTERED OFFICE: 9 Commerce Road
Lynchwood
Peterborough
Cambridgeshire
PE2 6LR



REGISTERED NUMBER: 10083633 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Christopher Bond



AUDITOR: SBCA Statutory Auditor
17 Moor Park Avenue
Preston
Lancashire
PR1 6AS

LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 MARCH 2024

The director presents his strategic report of the company and the group for the year ended 31 March 2024.

REVIEW OF BUSINESS
2024 was The Groups 23rd year trading in the construction industry. The principle activity continues providing labour only bricklayer subcontractors to the house builder companies such as Bovis, Lindens, and Taylor Wimpey. The group also supplies sub contractors to smaller independent builders building single dwellings and small extensions on a small scale.

Cash collection was excellent although retention back payments are still slow.

Investing in staff has been the most significant year we have ever had. We would like to thank all our employees, clients and suppliers for all their continued support.

PRINCIPAL RISKS AND UNCERTAINTIES
The effects of Brexit continue to be a concern to the Group. We have many Eastern European sub contractors working for us, and with the uncertainty of the government policy whether they can stay in the UK, leaving us a labour shortage. The governments commitment for an increase of house building supports group's strategic plan.

KEY PERFORMANCE INDICATORS
The group implements a number of key performance indicators which are reviewed on a regular basis.

Monthly contracts meeting with contract managers to review progress, together with reasons for any slippage, health and safety issues, and a review of any financial consequences which these may have.
Contract reviews to highlight matters which require proactive solutions and Board involvement to mitigate risk.

A summary of the tracked key performance indicators are as follows:


2022 2023 2024

Turnover £14.4m £13.8m £8.1m
Gross Profit % 24% 24% 24%

EBITDA £3.1m £2.6m £1.5m

Reserves £13.8m £14.0m £14.6m

ON BEHALF OF THE BOARD:





P J Allgood - Director


10 September 2024

LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MARCH 2024

The director presents his report with the financial statements of the company and the group for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the group in the year under review was that of Construction and Civil Engineering.

DIVIDENDS
An interim dividend of 1972.7273 per share on the Ordinary 1 shares was paid on 31 March 2024. The director recommends that no final dividend be paid on these shares.

No interim dividend was paid on the "A" Ordinary 1 shares. The director recommends that no final dividend be paid on these shares.

The total distribution of dividends for the year ended 31 March 2024 will be £ 217,000 .

DIRECTOR
P J Allgood held office during the whole of the period from 1 April 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditor is unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditor is aware of that information.

LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MARCH 2024


AUDITOR
The auditors, SBCA Statutory Auditor, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P J Allgood - Director


10 September 2024

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF
LITTLEBURY DEVELOPMENTS LIMITED

Opinion
We have audited the financial statements of Littlebury Developments Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2024 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Cash Flow Statement and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 March 2024 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditor thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF
LITTLEBURY DEVELOPMENTS LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF
LITTLEBURY DEVELOPMENTS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditor that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the company and sector, we identified that the principal risks of non-compliance with laws and regulations related to, but not limited to, the Companies Act 2006, UK tax, employment, pension and health and safety legislation and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the financial statements such as the Companies Act 2006.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to management bias in accounting estimates and judgements and fraudulent income recognition.

Our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions to relevant laws and regulations described as having a direct impact on the financial statements;
-enquiring of management about actual and potential litigation and claims, their policies and procedures to prevent and detect fraud as well as whether they have knowledge of actual, suspected or alleged fraud;
- performing analytical procedures to identify and unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- obtaining an understanding of provisions and holding discussions with management to understand the basis of recognition or non-recognition of tax provisions; and
- in addressing the risk of fraud through management override of controls: testing the appropriateness of journal entries; assessing whether the accounting estimates, judgements and decisions made by management are indicative of a potential bias; and evaluation the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws, and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be higher to detect than those that arise from error as fraud may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's websites at www.frc.org/uk/auditorsresponsibillities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF
LITTLEBURY DEVELOPMENTS LIMITED


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditor.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditor and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Christopher Bond (Senior Statutory Auditor)
for and on behalf of SBCA Statutory Auditor
17 Moor Park Avenue
Preston
Lancashire
PR1 6AS

10 September 2024

LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

CONSOLIDATED
STATEMENT OF INCOME AND
RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £    £    £   

TURNOVER 3 8,164,116 13,823,698

Cost of sales 6,212,256 10,542,238
GROSS PROFIT 1,951,860 3,281,460

Administrative expenses 758,531 988,135
1,193,329 2,293,325

Income from fixed asset
investments

2,279

2,157
Interest receivable and similar
income

5

2
2,284 2,159
1,195,613 2,295,484
Gain/loss on revaluation of
investments

4,310

(2,798

)
1,199,923 2,292,686

Interest payable and similar
expenses

6

(9,838

)

(2,552

)
PROFIT BEFORE TAXATION 7 1,209,761 2,295,238

Tax on profit 8 361,799 491,524
PROFIT FOR THE FINANCIAL
YEAR

847,962

1,803,714

Retained earnings at beginning of
year

10,687,958

9,080,244

Dividends 10 (217,000 ) (196,000 )

RETAINED EARNINGS FOR THE
GROUP AT END OF YEAR

11,318,920

10,687,958

Profit attributable to:
Owners of the parent 847,962 1,803,714

LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

CONSOLIDATED BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 428,311 642,467
Tangible assets 12 555,789 560,293
Investments 13 32,633 28,323
1,016,733 1,231,083

CURRENT ASSETS
Stocks 14 1,251,215 170,452
Debtors 15 14,325,347 14,582,261
Cash at bank 145,330 196,197
15,721,892 14,948,910
CREDITORS
Amounts falling due within one
year

16

895,497

991,610
NET CURRENT ASSETS 14,826,395 13,957,300
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,843,128

15,188,383

CREDITORS
Amounts falling due after more
than one year

17

(20,809

)

-

PROVISIONS FOR LIABILITIES 19 (27,939 ) (24,965 )
NET ASSETS 15,794,380 15,163,418

CAPITAL AND RESERVES
Called up share capital 20 4,475,460 4,475,460
Retained earnings 21 11,318,920 10,687,958
SHAREHOLDERS' FUNDS 15,794,380 15,163,418

The financial statements were approved by the director and authorised for issue on 10 September 2024 and were signed by:





P J Allgood - Director


LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

COMPANY BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 - -
Investments 13 4,475,350 4,475,350
4,475,350 4,475,350

CURRENT ASSETS
Debtors 15 12,823,101 11,906,329
Cash at bank 129 2,206
12,823,230 11,908,535
CREDITORS
Amounts falling due within one
year

16

2,705,154

2,422,164
NET CURRENT ASSETS 10,118,076 9,486,371
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,593,426

13,961,721

CAPITAL AND RESERVES
Called up share capital 20 4,475,460 4,475,460
Retained earnings 21 10,117,966 9,486,261
SHAREHOLDERS' FUNDS 14,593,426 13,961,721

Company's profit for the financial
year

848,705

194,854

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 4 October 2024 and were signed by:





P J Allgood - Director


LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 24 596,859 (288,125 )
Interest paid 10,401 4,202
Interest element of hire purchase
payments paid

(563

)

(1,650

)
Tax paid (413,516 ) (793,544 )
Net cash from operating activities 193,181 (1,079,117 )

Cash flows from investing activities
Purchase of tangible fixed assets (45,000 ) (24,719 )
Sale of tangible fixed assets - 6,550
Interest received 5 2
Dividends received 2,279 2,157
Net cash from investing activities (42,716 ) (16,010 )

Cash flows from financing activities
Hire purchase loans taken 30,150 -
Capital repayments in year (14,905 ) (27,883 )
Amount introduced by directors 469,193 418,829
Amount withdrawn by directors (468,770 ) (418,944 )
Equity dividends paid (217,000 ) (196,000 )
Net cash from financing activities (201,332 ) (223,998 )

Decrease in cash and cash equivalents (50,867 ) (1,319,125 )
Cash and cash equivalents at
beginning of year

25

196,197

1,515,322

Cash and cash equivalents at
end of year

25

145,330

196,197

LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Littlebury Developments 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The company is a qualifying entity for the purposes of FRS12, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit ot loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements for parent company information presented within the consolidated financial statements.

Section 4 'Statement of Financial Position': Reconciliation of the opening and closing number of shares;
Section 7 'Statement of Cash Flows': Presentation of a statement of cash flow and related notes and disclosures;
Section 11 'basic Financial Instruments' and Section 12 'Other Financial Instrument Issues': Carrying amounts, interest income/expense and net gain/losses for each category of financial instrument; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit and loss and in other comprehensive income;
Section 26 'Share based Payment': Share-based payment expense charged to profit or loss, reconciliation of opening and closing number and weighted average exercise price of share options, how the fair value of options granted was measured, measurement and carrying amount of liabilities for cash-settled share-based payment, explanation of modifications to arrangements;
Section 33 'Related party Disclosures': Compensation for key management personnel.

Basis of consolidation
The consolidated group financial statements consist of the financial statements of the parent company Littlebury Developments Limited together with all entities controlled by the parent company (its subsidiaries) and the groups share of its interests in joint ventures and associates.

All financial statements are made up to 31 March 2024. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Critical accounting judgements and key sources of estimation uncertainty
In the application of the group's accounting policies, which are described below, the director's are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recongnised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision effects both current and future periods.

Provisions for Amounts Recoverable on Contract

Where losses on contracts are expected, the entire loss is recognised immediately within the statement of Comprehensive Income.

Key Sources of estimation uncertainty

The director's have considered whether there are any key assumptions concerning the future, and other key sources of estimation uncertainty at the reporting period that may have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year. They have concluded that there are no key assumptions relevant to the group.

Turnover
Turnover represents the invoice value of work carried out during the year, net of Value Added Tax, adjusted for contractual work in progress as follows:

The amount by which recorded turnover is in excess of payments on account is classified as "amounts recoverable on contracts" and separately disclosed, as appropriate, within debtors due within one year and after more than one year.

The value of the recorded turnover has been determined by the following methods:

Part Completed Contracts:

a) Contracts in the early stages, the outcome of which cannot reasonably be assessed, cost plus overheads less foreseeable losses.

b) Contracts sufficiently advanced for the outcome to be assessed with reasonable certainly, cost plus ascertainable profit less any known inequalities of profitability in the various stages of the contracts, less foreseeable losses.

Contracts Awaiting Final Certificates:

Cost plus attributable profit less foreseeable losses.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2016, is being amortised evenly over its estimated useful life of ten years.

LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 12.5% on reducing balance
Plant and machinery - 25% on reducing balance and 5% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Work in progress is valued at the lower of cost and net realisable value.

LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets:

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future cash flows discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities:

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities:

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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.


LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the group had adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Construction 8,164,116 13,823,698
8,164,116 13,823,698

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 8,164,116 13,823,698
8,164,116 13,823,698

LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 198,061 468,745
Social security costs 7,446 15,264
Other pension costs 4,592 7,205
210,099 491,214

The average number of employees during the year was as follows:
2024 2023

Directors 2 2
Administrative 8 11
10 13

5. DIRECTORS' EMOLUMENTS
2024 2023
£    £   
Director's remuneration - 15,912

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Corporation tax interest (10,401 ) (4,202 )
Hire purchase 563 1,650
(9,838 ) (2,552 )

7. PROFIT BEFORE TAXATION

The profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 14,182 18,787
Depreciation - owned assets 45,137 46,549
Loss/(profit) on disposal of fixed assets 4,367 (380 )
Goodwill amortisation 214,156 214,156
Auditors' remuneration 13,808 2,451

LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 358,825 485,889
Over/under provision of tax - 1,002
Total current tax 358,825 486,891

Deferred tax 2,974 4,633
Tax on profit 361,799 491,524

UK corporation tax has been charged at 25 % (2023 - 19 %).

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,209,761 2,295,238
Profit multiplied by the standard rate of corporation tax in
the UK of 25 % (2023 - 19 %)

302,440

436,095

Effects of:
Expenses not deductible for tax purposes 57,164 42,881
Income not taxable for tax purposes (567 ) (410 )
Depreciation in excess of capital allowances 2,762 12,958
Total tax charge 361,799 491,524

9. INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


10. DIVIDENDS
2024 2023
£    £   
Ordinary shares of 1 each
Interim dividend 217,000 196,000

LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

11. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 2,141,559
AMORTISATION
At 1 April 2023 1,499,092
Amortisation for year 214,156
At 31 March 2024 1,713,248
NET BOOK VALUE
At 31 March 2024 428,311
At 31 March 2023 642,467

The company had no intangible fixed assets as 31 March 2024 or 31 March 2023.

The amortisation charge has been included within administrative expenses in the year.

12. TANGIBLE FIXED ASSETS

Group
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2023 508,328 119,566 4,367
Additions - 33,500 -
Disposals - (20,951 ) -
At 31 March 2024 508,328 132,115 4,367
DEPRECIATION
At 1 April 2023 53,338 80,110 3,889
Charge for year 15,420 11,407 478
Eliminated on disposal - (20,467 ) -
At 31 March 2024 68,758 71,050 4,367
NET BOOK VALUE
At 31 March 2024 439,570 61,065 -
At 31 March 2023 454,990 39,456 478

LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

12. TANGIBLE FIXED ASSETS - continued

Group

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2023 153,052 19,105 804,418
Additions 11,500 - 45,000
Disposals (14,629 ) (3,173 ) (38,753 )
At 31 March 2024 149,923 15,932 810,665
DEPRECIATION
At 1 April 2023 95,027 11,761 244,125
Charge for year 14,757 3,075 45,137
Eliminated on disposal (11,801 ) (2,118 ) (34,386 )
At 31 March 2024 97,983 12,718 254,876
NET BOOK VALUE
At 31 March 2024 51,940 3,214 555,789
At 31 March 2023 58,025 7,344 560,293

Included in cost of land and buildings is freehold land of £200,000 (2023 - £200,000) which is not depreciated.

Included in fixed assets is plant and machinery held under hire purchase contracts with a net book value of £32,104 (2023: £44,336). Depreciation charged on those assets in the year was £1,396 (2023: £14,784)

The company had no tangible fixed assets as 31 March 2024 or 31 March 2023.

13. FIXED ASSET INVESTMENTS

Group
Listed
investments
£   
COST OR VALUATION
At 1 April 2023 28,323
Revaluations 4,310
At 31 March 2024 32,633
NET BOOK VALUE
At 31 March 2024 32,633
At 31 March 2023 28,323

LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

13. FIXED ASSET INVESTMENTS - continued

Group

Cost or valuation at 31 March 2024 is represented by:

Listed
investments
£   
Valuation in 2018 43,377
Valuation in 2019 (1,600 )
Valuation in 2020 (13,799 )
Valuation in 2021 14,989
Valuation in 2022 (11,846 )
Valuation in 2023 (2,798 )
Valuation in 2024 4,310
32,633
Company
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 4,475,350
NET BOOK VALUE
At 31 March 2024 4,475,350
At 31 March 2023 4,475,350

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Allgood Services Limited
Registered office: 9 Commerce Road, Lynchwood, Peterborough, PE2 6LR
Nature of business: Construction
%
Class of shares: holding
Ordinary 100.00


LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

13. FIXED ASSET INVESTMENTS - continued


Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.

14. STOCKS

Group
2024 2023
£    £   
Work-in-progress 1,251,215 170,452

15. DEBTORS

Group Company
2024 2023 2024 2023
£    £    £    £   
Amounts falling due within one year:
Trade debtors 245,315 915,457 - -
Amounts recoverable on contract 1,013,710 1,252,483 - -
Other debtors 12,823,101 11,906,329 12,823,101 11,906,329
VAT 44,220 - - -
Prepayments 8,691 7,235 - -
14,135,037 14,081,504 12,823,101 11,906,329

Amounts falling due after more than one year:
Amounts recoverable on contract 190,310 500,757 - -

Aggregate amounts 14,325,347 14,582,261 12,823,101 11,906,329

LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Hire purchase contracts (see note 18)
9,341

14,905

-

-
Trade creditors 141,520 152,449 - -
Amounts owed to group undertakings - - 2,705,054 2,422,064
Tax 214,840 269,531 100 100
Social security and other taxes 79,219 96,507 - -
VAT - 26,216 - -
Other creditors 13,938 7,215 - -
Directors' loan accounts 595 172 - -
Accrued expenses 436,044 424,615 - -
895,497 991,610 2,705,154 2,422,164

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

Group
2024 2023
£    £   
Hire purchase contracts (see note 18)
20,809

-

18. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 9,341 14,905
Between one and five years 20,809 -
30,150 14,905

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 1,190 4,756
Between one and five years - 1,190
1,190 5,946

LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

18. LEASING AGREEMENTS - continued

Finance lease payments represent rentals payable by the company of the group for certain items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.

Obligations under finance leases are secured on the assets to which they relate.

19. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax 27,939 24,965

Group
Deferred
tax
£   
Balance at 1 April 2023 24,965
Charge to Statement of Comprehensive Income during year 2,974
Balance at 31 March 2024 27,939

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
110 Ordinary 1 110 110
4,475,350 "A" Ordinary 1 4,475,350 4,475,350
4,475,460 4,475,460

21. RESERVES

Group
Retained
earnings
£   

At 1 April 2023 10,687,958
Profit for the year 847,962
Dividends (217,000 )
At 31 March 2024 11,318,920

LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

21. RESERVES - continued

Company
Retained
earnings
£   

At 1 April 2023 9,486,261
Profit for the year 848,705
Dividends (217,000 )
At 31 March 2024 10,117,966

The profit and loss reserve relates to cumulative profit and losses less distributions to shareholders.

22. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
P J Allgood
Balance outstanding at start of year (169 ) (284 )
Amounts advanced 686,314 646,742
Amounts repaid (686,740 ) (646,627 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (595 ) (169 )

23. ULTIMATE CONTROLLING PARTY

The controlling party is P J Allgood.

The ultimate controlling party is P J Allgood.

During the year, total dividends of £217,000 (2023: £196,000) were paid to the directors.

At the balance sheet date amounts due to the directors amounted to £595 (2023: £169).

At the balance sheet date amounts due from connected companies, by virtue of a common director, amounted to £13,330,683 (2023: £11,906,219).

During the year, sales to connected companies, by virtue of a common director amounted to £1,333,483 (2023: £1,057,513).

LITTLEBURY DEVELOPMENTS LIMITED (REGISTERED NUMBER: 10083633)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

24. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2024 2023
£    £   
Profit before taxation 1,209,761 2,295,238
Depreciation charges 259,293 260,705
Loss/(profit) on disposal of fixed assets 4,367 (380 )
(Gain)/loss on revaluation of fixed assets (4,310 ) 2,798
(Increase) / decrease in ARoC 549,220 (189,022 )
Finance costs (9,838 ) (2,552 )
Finance income (2,284 ) (2,159 )
2,006,209 2,364,628
(Increase)/decrease in stocks (1,080,763 ) 2,178,291
Increase in trade and other debtors (292,306 ) (4,746,544 )
Decrease in trade and other creditors (36,281 ) (84,500 )
Cash generated from operations 596,859 (288,125 )

25. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 March 2024
31.3.24 1.4.23
£    £   
Cash and cash equivalents 145,330 196,197
Year ended 31 March 2023
31.3.23 1.4.22
£    £   
Cash and cash equivalents 196,197 1,515,322


26. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£    £    £   
Net cash
Cash at bank 196,197 (50,867 ) 145,330
196,197 (50,867 ) 145,330
Debt
Finance leases (14,905 ) (15,245 ) (30,150 )
(14,905 ) (15,245 ) (30,150 )
Total 181,292 (66,112 ) 115,180