IRIS Accounts Production v24.2.0.383 03101141 director 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh031011412023-03-31031011412024-03-31031011412023-04-012024-03-31031011412022-03-31031011412022-04-012023-03-31031011412023-03-3103101141ns15:EnglandWales2023-04-012024-03-3103101141ns14:PoundSterling2023-04-012024-03-3103101141ns10:Director12023-04-012024-03-3103101141ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3103101141ns10:SmallEntities2023-04-012024-03-3103101141ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3103101141ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3103101141ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3103101141ns10:FullAccounts2023-04-012024-03-3103101141ns10:RegisteredOffice2023-04-012024-03-3103101141ns5:CurrentFinancialInstruments2024-03-3103101141ns5:CurrentFinancialInstruments2023-03-3103101141ns5:ShareCapital2024-03-3103101141ns5:ShareCapital2023-03-3103101141ns5:FurtherSpecificReserve2ComponentTotalEquity2024-03-3103101141ns5:FurtherSpecificReserve2ComponentTotalEquity2023-03-3103101141ns5:RetainedEarningsAccumulatedLosses2024-03-3103101141ns5:RetainedEarningsAccumulatedLosses2023-03-3103101141ns5:PlantMachinery2023-04-012024-03-3103101141ns5:FurnitureFittings2023-04-012024-03-3103101141ns5:MotorVehicles2023-04-012024-03-3103101141ns5:PlantMachinery2023-03-3103101141ns5:FurnitureFittings2023-03-3103101141ns5:MotorVehicles2023-03-3103101141ns5:ComputerEquipment2023-03-3103101141ns5:ComputerEquipment2023-04-012024-03-3103101141ns5:PlantMachinery2024-03-3103101141ns5:FurnitureFittings2024-03-3103101141ns5:MotorVehicles2024-03-3103101141ns5:ComputerEquipment2024-03-3103101141ns5:PlantMachinery2023-03-3103101141ns5:FurnitureFittings2023-03-3103101141ns5:MotorVehicles2023-03-3103101141ns5:ComputerEquipment2023-03-3103101141ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3103101141ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3103101141ns5:LeasedAssetsHeldAsLessee2023-03-3103101141ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3103101141ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3103101141ns5:LeasedAssetsHeldAsLessee2023-04-012024-03-3103101141ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-03-3103101141ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2024-03-3103101141ns5:LeasedAssetsHeldAsLessee2024-03-3103101141ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-03-3103101141ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-03-3103101141ns5:LeasedAssetsHeldAsLessee2023-03-3103101141ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3103101141ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3103101141ns5:RetainedEarningsAccumulatedLosses2023-03-3103101141ns5:FurtherSpecificReserve2ComponentTotalEquity2023-03-3103101141ns5:RetainedEarningsAccumulatedLosses2023-04-012024-03-31
REGISTERED NUMBER: 03101141 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

LANCASHIRE DEVELOPMENTS LIMITED

LANCASHIRE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03101141)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LANCASHIRE DEVELOPMENTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: D Brown





REGISTERED OFFICE: Grafton House
81 Chorley Old Road
Bolton
Lancashire
BL1 3AJ





REGISTERED NUMBER: 03101141 (England and Wales)





ACCOUNTANTS: P B Syddall & Co
Chartered Accountants
Grafton House
81 Chorley Old Road
Bolton
Lancashire
BL1 3AJ

LANCASHIRE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03101141)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 190,588 210,446

CURRENT ASSETS
Stocks 6 217,340 124,766
Debtors 7 784,844 554,012
Cash at bank and in hand 141,876 355,819
1,144,060 1,034,597
CREDITORS
Amounts falling due within one year 8 1,006,510 940,030
NET CURRENT ASSETS 137,550 94,567
TOTAL ASSETS LESS CURRENT
LIABILITIES

328,138

305,013

CAPITAL AND RESERVES
Called up share capital 5 5
Other reserves 9 5 5
Retained earnings 9 328,128 305,003
SHAREHOLDERS' FUNDS 328,138 305,013

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 5 August 2024 and were signed by:




D Brown - Director


LANCASHIRE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03101141)

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

1. STATUTORY INFORMATION

Lancashire 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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 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.

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

LANCASHIRE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03101141)

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

3. ACCOUNTING POLICIES - continued

HIRE PURCHASE AND LEASING COMMITMENTS
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Office
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 368,578 7,879 8,175 2,339 386,971
Additions 2,000 - 25,888 - 27,888
At 31 March 2024 370,578 7,879 34,063 2,339 414,859
DEPRECIATION
At 1 April 2023 161,053 7,246 6,955 1,271 176,525
Charge for year 41,706 127 5,698 215 47,746
At 31 March 2024 202,759 7,373 12,653 1,486 224,271
NET BOOK VALUE
At 31 March 2024 167,819 506 21,410 853 190,588
At 31 March 2023 207,525 633 1,220 1,068 210,446

LANCASHIRE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03101141)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 37,800 - 37,800
Additions - 25,888 25,888
At 31 March 2024 37,800 25,888 63,688
DEPRECIATION
At 1 April 2023 12,398 - 12,398
Charge for year 5,081 5,393 10,474
At 31 March 2024 17,479 5,393 22,872
NET BOOK VALUE
At 31 March 2024 20,321 20,495 40,816
At 31 March 2023 25,402 - 25,402

6. STOCKS
2024 2023
£    £   
Work-in-progress 217,340 124,766

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 417,153 186,321
Other debtors 7,909 7,909
Loans 5,000 5,000
Amounts owed by associated co 354,782 354,782
784,844 554,012

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 21,715 7,848
Trade creditors 887,380 887,391
Tax (2,788 ) (2,788 )
Social security and other taxes (4,295 ) 3,193
VAT 7,195 20,221
Other creditors 12,839 7,316
Directors current account 80,504 12,989
Accruals and deferred income 3,960 3,860
1,006,510 940,030

LANCASHIRE DEVELOPMENTS LIMITED (REGISTERED NUMBER: 03101141)

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

9. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 April 2023 305,003 5 305,008
Profit for the year 25,125 25,125
Dividends (2,000 ) (2,000 )
At 31 March 2024 328,128 5 328,133

10. RELATED PARTY DISCLOSURES

During the year the company sold goods and services amounting to £210,000 (2023 - £100,000) to D & J Properties North West Limited, a company in which director D Brown is materially interested as a director. At the balance sheet date an inter-company loan of £354,782 (2023 £354,782) was owed by D & J Properties North West Limited and is included in debtors. Trade debtors includes £318,700 (2023 - £111,466) owed by D & J Properties North West Limited.