Company registration number 14245066 (England and Wales)
LIFESTYLE BUILDINGS CARPENTRY SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
LIFESTYLE BUILDINGS CARPENTRY SERVICES LIMITED
COMPANY INFORMATION
Director
Mr S G Dawson
Company number
14245066
Registered office
33 Cavendish Drive
Hagley
Stourbridge
West Midlands
DY9 0IS
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
LIFESTYLE BUILDINGS CARPENTRY SERVICES LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
LIFESTYLE BUILDINGS CARPENTRY SERVICES LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LIFESTYLE BUILDINGS CARPENTRY SERVICES LIMITED FOR THE YEAR ENDED 31 JULY 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lifestyle Buildings Carpentry Services Limited for the year ended 31 July 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Lifestyle Buildings Carpentry Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lifestyle Buildings Carpentry Services Limited and state those matters that we have agreed to state to the board of directors of Lifestyle Buildings Carpentry Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lifestyle Buildings Carpentry Services Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Lifestyle Buildings Carpentry Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Lifestyle Buildings Carpentry Services Limited. You consider that Lifestyle Buildings Carpentry Services Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Lifestyle Buildings Carpentry Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
5 September 2024
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
LIFESTYLE BUILDINGS CARPENTRY SERVICES LIMITED
BALANCE SHEET
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
27,666
Current assets
Stocks
-
1,218
Cash at bank and in hand
19,729
20,947
Creditors: amounts falling due within one year
4
(19,730)
(21,217)
Net current liabilities
(19,730)
(270)
Total assets less current liabilities
(19,730)
27,396
Creditors: amounts falling due after more than one year
5
(26,708)
Provisions for liabilities
7
(202)
Net (liabilities)/assets
(19,730)
486
Capital and reserves
Called up share capital
8
10
10
Profit and loss reserves
(19,740)
476
Total equity
(19,730)
486
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
LIFESTYLE BUILDINGS CARPENTRY SERVICES LIMITED
BALANCE SHEET (CONTINUED)
- 3 -
The financial statements were approved and signed by the director and authorised for issue on 5 September 2024
Mr S G Dawson
Director
Company registration number 14245066 (England and Wales)
LIFESTYLE BUILDINGS CARPENTRY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 4 -
1
Accounting policies
Company information
Lifestyle Buildings Carpentry Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 33 Cavendish Drive, Hagley, Stourbridge, West Midlands, United Kingdom, DY9 0IS.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computer equipment
25% reducing balance
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
LIFESTYLE BUILDINGS CARPENTRY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Computer equipment
Motor vehicles
Total
£
£
£
Cost
At 1 August 2023
926
30,112
31,038
Additions
803
62,150
62,953
Disposals
(1,729)
(92,262)
(93,991)
At 31 July 2024
Depreciation and impairment
At 1 August 2023
235
3,137
3,372
Depreciation charged in the year
436
22,282
22,718
Eliminated in respect of disposals
(671)
(25,419)
(26,090)
At 31 July 2024
Carrying amount
At 31 July 2024
At 31 July 2023
691
26,975
27,666
LIFESTYLE BUILDINGS CARPENTRY SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
4
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
276
73
Taxation and social security
2,587
4,477
Other creditors
16,867
16,667
19,730
21,217
5
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
26,708
6
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Hire purchase contracts
-
29,807
Hire purchase contracts are secured against the assets to which they relate.
7
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
202
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
10
10
10
10
9
Ultimate controlling party
The ultimate controlling party is Mr S G Dawson.