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REGISTERED NUMBER: 03758870 (England and Wales)















Financial Statements

for the Year Ended 30 April 2024

for

LOUGHLIN CIVIL ENGINEERING LIMITED

LOUGHLIN CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 03758870)

Contents of the Financial Statements
for the year ended 30 April 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LOUGHLIN CIVIL ENGINEERING LIMITED

Company Information
for the year ended 30 April 2024







Directors: Mr M Loughlin
Mr S Loughlin





Registered office: Crossoaks Farm
Crossoaks Lane
Borehamwood
Hertfordshire
WD6 5PH





Registered number: 03758870 (England and Wales)





Accountants: Duncan & Toplis Limited
3rd Floor, Marlborough House
298 Regents Park Road
Finchley
London
N3 2SZ

LOUGHLIN CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 03758870)

Balance Sheet
30 April 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 822,959 669,214

Current assets
Stocks 970 1,740
Debtors 5 1,255,020 1,267,198
Cash at bank and in hand 3,598,441 2,739,111
4,854,431 4,008,049
Creditors
Amounts falling due within one year 6 1,144,495 1,003,565
Net current assets 3,709,936 3,004,484
Total assets less current liabilities 4,532,895 3,673,698

Provisions for liabilities 201,594 162,753
Net assets 4,331,301 3,510,945

Capital and reserves
Called up share capital 8 2,600 2,600
Retained earnings 4,328,701 3,508,345
Shareholders' funds 4,331,301 3,510,945

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:



Mr S Loughlin - Director


LOUGHLIN CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 03758870)

Notes to the Financial Statements
for the year ended 30 April 2024


1. Statutory information

Loughlin Civil Engineering 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. 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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed off.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

There is estimation uncertainty in calculating stock provisions. A full line by line review of stock is carried out at the end of each month. Whilst every attempt is made to ensure that the stock provisions are as accurate as possible, there remains a risk that the provisions do not match the level of stock which ultimately prove to be obsolete.

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 - 25% on reducing balance and 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on cost

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

LOUGHLIN CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 03758870)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

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 11 (2023 - 11 ) .

LOUGHLIN CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 03758870)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


4. Tangible fixed assets
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
Cost
At 1 May 2023 1,823,439 24,714 7,894 1,856,047
Additions 365,344 46,046 - 411,390
Disposals (126,954 ) - - (126,954 )
At 30 April 2024 2,061,829 70,760 7,894 2,140,483
Depreciation
At 1 May 2023 1,168,105 10,834 7,894 1,186,833
Charge for year 243,294 8,989 - 252,283
Eliminated on disposal (121,592 ) - - (121,592 )
At 30 April 2024 1,289,807 19,823 7,894 1,317,524
Net book value
At 30 April 2024 772,022 50,937 - 822,959
At 30 April 2023 655,334 13,880 - 669,214

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£
Cost
At 1 May 2023 462,139
Additions 185,903
At 30 April 2024 648,042
Depreciation
At 1 May 2023 307,691
Charge for year 85,088
At 30 April 2024 392,779
Net book value
At 30 April 2024 255,263
At 30 April 2023 154,448

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 1,053,277 1,089,048
Other debtors 201,743 178,150
1,255,020 1,267,198

LOUGHLIN CIVIL ENGINEERING LIMITED (REGISTERED NUMBER: 03758870)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


6. Creditors: amounts falling due within one year
2024 2023
£ £
Hire purchase contracts (see note 7) 56,761 92,945
Trade creditors 226,035 201,342
Taxation and social security 290,599 405,212
Other creditors 571,100 304,066
1,144,495 1,003,565

Hire purchase contracts are secured by way of fixed and floating charge over the company's plant and machinery.

7. Leasing agreements

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£ £
Net obligations repayable:
Within one year 56,761 92,945

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
2,600 Ordinary £1 2,600 2,600