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REGISTERED NUMBER: 01104526















Leighton Carter Insulation Co. Limited

Unaudited Financial Statements for the Year Ended 31 March 2024






Leighton Carter Insulation Co. Limited (Registered number: 01104526)






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


Leighton Carter Insulation Co. Limited

Company Information
for the Year Ended 31 March 2024







Directors: Mr L A Carter
Mr J Carter



Registered office: 25 Argyle Street
Newport
NP20 5NE



Registered number: 01104526



Accountants: Haines Watts Wales LLP
7 Neptune Court
Vanguard Way
Cardiff
CF24 5PJ



Bankers: Lloyds TSB
42 Commercial Street
Newport

Leighton Carter Insulation Co. Limited (Registered number: 01104526)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
Fixed assets
Tangible assets 4 448,541 352,770

Current assets
Stocks 1,500 1,500
Debtors 5 896,958 801,162
Bond deposit 378 276,225
Cash at bank 1,545,058 685,661
2,443,894 1,764,548
Creditors
Amounts falling due within one year 6 (412,469 ) (201,187 )
Net current assets 2,031,425 1,563,361
Total assets less current liabilities 2,479,966 1,916,131

Provisions for liabilities (90,119 ) (65,230 )
Net assets 2,389,847 1,850,901

Capital and reserves
Called up share capital 7 100 100
Retained earnings 2,389,747 1,850,801
Shareholders' funds 2,389,847 1,850,901

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 directors acknowledge their 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 Board of Directors and authorised for issue on 14 November 2024 and were signed on its behalf by:





Mr L A Carter - Director


Leighton Carter Insulation Co. Limited (Registered number: 01104526)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. Statutory information

Leighton Carter Insulation Co Ltd 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents amounts chargeable, net of value added tax, in respect of the sale and installation of insulation to customers.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 22 (2023 - 27 ) .

Leighton Carter Insulation Co. Limited (Registered number: 01104526)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. Tangible fixed assets
Improvements
Freehold to Plant and
property property machinery
£    £    £   
Cost
At 1 April 2023 73,273 20,747 313,626
Additions - - 7,914
At 31 March 2024 73,273 20,747 321,540
Depreciation
At 1 April 2023 29,059 1,349 236,380
Charge for year 1,465 415 1,351
At 31 March 2024 30,524 1,764 237,731
Net book value
At 31 March 2024 42,749 18,983 83,809
At 31 March 2023 44,214 19,398 77,246

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Cost
At 1 April 2023 67,992 408,034 883,672
Additions 4,827 92,597 105,338
At 31 March 2024 72,819 500,631 989,010
Depreciation
At 1 April 2023 59,212 204,909 530,909
Charge for year 441 5,888 9,560
At 31 March 2024 59,653 210,797 540,469
Net book value
At 31 March 2024 13,166 289,834 448,541
At 31 March 2023 8,780 203,125 352,763

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 848,585 788,685
Prepayments 48,373 12,477
896,958 801,162

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 97,278 78,001
Tax 205,438 78,176
Social security and other taxes 42,938 30,402
VAT 63,430 9,725
Accrued expenses 3,385 4,883
412,469 201,187

Leighton Carter Insulation Co. Limited (Registered number: 01104526)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

8. Ultimate controlling party

The ultimate controlling party is Mr L A Carter who owns 100% of the called up share capital.