Registered number
07126360
PD Lambert Construction Limited
Filleted Accounts
31 January 2024
PD Lambert Construction Limited
Registered number: 07126360
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 100,328 133,771
Current assets
Debtors 4 42,214 52,587
Cash at bank and in hand 22,128 20,035
64,342 72,622
Creditors: amounts falling due within one year 5 (79,647) (60,668)
Net current (liabilities)/assets (15,305) 11,954
Total assets less current liabilities 85,023 145,725
Creditors: amounts falling due after more than one year 6 (84,406) (129,098)
Net assets 617 16,627
Capital and reserves
Called up share capital 2 2
Profit and loss account 615 16,625
Shareholders' funds 617 16,627
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D I Lambert
Director
Approved by the board on 29 October 2024
PD Lambert Construction Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2023 222,583
At 31 January 2024 222,583
Depreciation
At 1 February 2023 88,812
Charge for the year 33,443
At 31 January 2024 122,255
Net book value
At 31 January 2024 100,328
At 31 January 2023 133,771
4 Debtors 2024 2023
£ £
Trade debtors 18,478 9,913
Other debtors 23,736 42,674
42,214 52,587
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 6,000 6,000
Obligations under finance lease and hire purchase contracts 38,692 38,692
Taxation and social security costs 34,318 14,963
Other creditors 637 1,013
79,647 60,668
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 9,500 15,500
Obligations under finance lease and hire purchase contracts 74,906 113,598
84,406 129,098
7 Controlling party
The company is controlled equally by the two directors.
8 Other information
PD Lambert Construction Limited is a private company limited by shares and incorporated in England. Its registered office is:
12 Honywood Place
Whittington
Worcester
WR5 2SL
PD Lambert Construction Limited 07126360 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts July 2024 D I Lambert No description of principal activity 07126360 2022-02-01 2023-01-31 07126360 core:WithinOneYear 2023-01-31 07126360 core:AfterOneYear 2023-01-31 07126360 core:ShareCapital 2023-01-31 07126360 core:RetainedEarningsAccumulatedLosses 2023-01-31 07126360 2023-02-01 2024-01-31 07126360 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07126360 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 07126360 bus:Director40 2023-02-01 2024-01-31 07126360 1 2023-02-01 2024-01-31 07126360 2 2023-02-01 2024-01-31 07126360 core:PlantMachinery 2023-02-01 2024-01-31 07126360 countries:England 2023-02-01 2024-01-31 07126360 bus:FRS102 2023-02-01 2024-01-31 07126360 bus:FilletedAccounts 2023-02-01 2024-01-31 07126360 2024-01-31 07126360 core:WithinOneYear 2024-01-31 07126360 core:AfterOneYear 2024-01-31 07126360 core:ShareCapital 2024-01-31 07126360 core:RetainedEarningsAccumulatedLosses 2024-01-31 07126360 core:PlantMachinery 2024-01-31 07126360 2023-01-31 07126360 core:PlantMachinery 2023-01-31 iso4217:GBP xbrli:pure