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Registration number: 08090283

New Lodge Contractors Limited

Annual Report and Unaudited Financial Statements

For The Year Ended 31 March 2024

 

New Lodge Contractors Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

New Lodge Contractors Limited

(Registration number: 08090283)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

4

 

147,473

 

177,331

Current assets

   

 

Debtors

5

234,403

 

83,830

 

Cash at bank and in hand

 

305,743

 

1,027,619

 

 

540,146

 

1,111,449

 

Creditors: Amounts falling due within one year

6

(232,282)

 

(668,338)

 

Net current assets

   

307,864

 

443,111

Total assets less current liabilities

   

455,337

 

620,442

Provisions for liabilities

 

(23,170)

 

(30,634)

Net assets

   

432,167

 

589,808

Capital and reserves

   

 

Called up share capital

100

 

100

 

Profit and loss account

432,067

 

589,708

 

Total equity

   

432,167

 

589,808

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 10 October 2024 and signed on its behalf by:
 

.........................................
Mr C.W. Mitchell
Director

 

New Lodge Contractors Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 11, Fusion Court
Aberford Road
Garforth
Leeds
LS25 2GH

These financial statements were authorised for issue by the Board on 10 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are presented in Sterling (£).

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the value of the work done on construction contracts and the invoiced value of other sales. Turnover is shown net of value added tax.
The company recognises revenue when the amount of revenue can be reliably measured, and it is probable that future economic benefits will flow to the company.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

New Lodge Contractors Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land

Not depreciated

Plant and machinery

15% straight line

Fixtures and fittings

20% straight line

Motor vehicles

25% reducing balance

Computer equipment

33% straight line

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 5).

 

New Lodge Contractors Limited

Notes to the Unaudited Financial Statements For The Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2023

54,793

4,349

80,472

138,366

277,980

At 31 March 2024

54,793

4,349

80,472

138,366

277,980

Depreciation

At 1 April 2023

-

4,020

34,397

62,232

100,649

Charge for the year

-

329

11,519

18,010

29,858

At 31 March 2024

-

4,349

45,916

80,242

130,507

Carrying amount

At 31 March 2024

54,793

-

34,556

58,124

147,473

At 31 March 2023

54,793

329

46,075

76,134

177,331

5

Debtors

Current

2024
£

2023
£

Trade debtors

215,342

62,764

Prepayments

12,061

11,694

Other debtors

7,000

9,372

 

234,403

83,830

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

193,253

193,566

Taxation and social security

35,460

162,377

Other creditors

3,569

312,395

232,282

668,338