Company registration number 10551953 (England and Wales)
LANCASTER DAMP PROOFING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
LANCASTER DAMP PROOFING LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
LANCASTER DAMP PROOFING LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LANCASTER DAMP PROOFING LIMITED FOR THE YEAR ENDED 31 MARCH 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 Lancaster Damp Proofing Limited for the year ended 31 March 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 Lancaster Damp Proofing Limited, as a body, in accordance with the terms of our engagement letter dated 19 December 2023. Our work has been undertaken solely to prepare for your approval the financial statements of Lancaster Damp Proofing Limited and state those matters that we have agreed to state to the board of directors of Lancaster Damp Proofing 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 Lancaster Damp Proofing Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Lancaster Damp Proofing 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 Lancaster Damp Proofing Limited. You consider that Lancaster Damp Proofing 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 Lancaster Damp Proofing 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.

Waters & Atkinson
5 November 2024
Chartered Accountants
The Old Court House
Clark Street
Morecambe
Lancashire
LA4 5HR
LANCASTER DAMP PROOFING LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
27,716
30,138
Current assets
Stocks
340
28,573
Debtors
17,522
9,836
Cash at bank and in hand
9,017
22,232
26,879
60,641
Creditors: amounts falling due within one year
(30,745)
(44,379)
Net current (liabilities)/assets
(3,866)
16,262
Total assets less current liabilities
23,850
46,400
Creditors: amounts falling due after more than one year
(32,983)
(45,000)
Provisions for liabilities
(5,266)
-
0
Net (liabilities)/assets
(14,399)
1,400
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(14,499)
1,300
Total equity
(14,399)
1,400

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The directors acknowledge their 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.

LANCASTER DAMP PROOFING LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 5 November 2024 and are signed on its behalf by:
Mrs L S Corless
Mr C Corless
Director
Director
Company registration number 10551953 (England and Wales)
LANCASTER DAMP PROOFING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Lancaster Damp Proofing Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Scotland Road, Carnforth, Lancashire, LA5 9JY.

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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Despite the company having net liabilities of £14,399 the directors have formed a reasonable expectation that the company will remain within agreed facilities and continue in operational existence for the foreseeable future. Therefore, they continue to adopt the going concern basis of accounting in preparation of the annual financial statements.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
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:

Plant and equipment
25% reducing balance
Computers
40% reducing balance
Motor vehicles
25% on cost

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.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

LANCASTER DAMP PROOFING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
1.6
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.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

LANCASTER DAMP PROOFING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
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.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.14
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
13
LANCASTER DAMP PROOFING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 April 2023
8,157
1,781
44,317
54,255
Additions
-
0
-
0
6,950
6,950
At 31 March 2024
8,157
1,781
51,267
61,205
Depreciation and impairment
At 1 April 2023
3,585
1,112
19,420
24,117
Depreciation charged in the year
1,143
268
7,961
9,372
At 31 March 2024
4,728
1,380
27,381
33,489
Carrying amount
At 31 March 2024
3,429
401
23,886
27,716
At 31 March 2023
4,572
669
24,897
30,138
4
Directors' transactions

The maximum overdrawn amount in the year was £11,297. At the balance sheet date the company was owed £11,297 (2023: NIL).

Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
2.00
(10)
11,196
111
11,297
(10)
11,196
111
11,297
2024-03-312023-04-01false05 November 2024CCH SoftwareCCH Accounts Production 2024.100Damp proofing services
Mrs L S CorlessMr C Corlessfalsefalse
105519532023-04-012024-03-31105519532024-03-31105519532023-03-3110551953core:PlantMachinery2024-03-3110551953core:ComputerEquipment2024-03-3110551953core:MotorVehicles2024-03-3110551953core:PlantMachinery2023-03-3110551953core:ComputerEquipment2023-03-3110551953core:MotorVehicles2023-03-3110551953core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3110551953core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3110551953core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3110551953core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3110551953core:ShareCapital2024-03-3110551953core:ShareCapital2023-03-3110551953core:RetainedEarningsAccumulatedLosses2024-03-3110551953core:RetainedEarningsAccumulatedLosses2023-03-3110551953bus:Director12023-04-012024-03-3110551953bus:Director22023-04-012024-03-3110551953core:PlantMachinery2023-04-012024-03-3110551953core:ComputerEquipment2023-04-012024-03-3110551953core:MotorVehicles2023-04-012024-03-31105519532022-04-012023-03-3110551953core:PlantMachinery2023-03-3110551953core:ComputerEquipment2023-03-3110551953core:MotorVehicles2023-03-31105519532023-03-3110551953bus:PrivateLimitedCompanyLtd2023-04-012024-03-3110551953bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3110551953bus:FRS1022023-04-012024-03-3110551953bus:AuditExemptWithAccountantsReport2023-04-012024-03-3110551953bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP