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Company Registration No. 10978160 (England and Wales)
LP Fabrication (Hull) Limited Unaudited accounts for the year ended 30 September 2024
LP Fabrication (Hull) Limited Unaudited accounts Contents
Page
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LP Fabrication (Hull) Limited Company Information for the year ended 30 September 2024
Directors
Mr L Perkins Mr I Samuel
Company Number
10978160 (England and Wales)
Registered Office
Unit 8 Hawthorn Avenue Unit Factory Estate Hull HU3 5JB England
Accountants
Kendall Accountancy Services Limited 2 Exeter Street New Village Road Cottingham East Yorkshire HU16 4LU
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LP Fabrication (Hull) Limited Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
15,466 
15,827 
Current assets
Inventories
14,700 
24,700 
Debtors
21,012 
4,757 
Cash at bank and in hand
39,396 
21,451 
75,108 
50,908 
Creditors: amounts falling due within one year
(78,186)
(74,295)
Net current liabilities
(3,078)
(23,387)
Total assets less current liabilities
12,388 
(7,560)
Provisions for liabilities
Deferred tax
(2,938)
- 
Net assets/(liabilities)
9,450 
(7,560)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
9,350 
(7,660)
Shareholders' funds
9,450 
(7,560)
For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 4 November 2024 and were signed on its behalf by
Mr L Perkins Director Company Registration No. 10978160
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LP Fabrication (Hull) Limited Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
LP Fabrication (Hull) Limited is a private company, limited by shares, registered in England and Wales, registration number 10978160. The registered office is Unit 8 , Hawthorn Avenue Unit Factory Estate , Hull , HU3 5JB, England .
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Cost
Motor vehicles
20% WDV
Fixtures & fittings
25% Cost
Computer equipment
25% Cost
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
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LP Fabrication (Hull) Limited Notes to the Accounts for the year ended 30 September 2024
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 October 2023
20,495 
18,522 
1,512 
40,529 
Additions
5,550 
- 
125 
5,675 
Disposals
- 
(6,527)
- 
(6,527)
At 30 September 2024
26,045 
11,995 
1,637 
39,677 
Depreciation
At 1 October 2023
17,695 
5,816 
1,191 
24,702 
Charge for the year
2,135 
2,008 
181 
4,324 
On disposals
- 
(4,815)
- 
(4,815)
At 30 September 2024
19,830 
3,009 
1,372 
24,211 
Net book value
At 30 September 2024
6,215 
8,986 
265 
15,466 
At 30 September 2023
2,800 
12,706 
321 
15,827 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
21,012 
4,157 
Accrued income and prepayments
- 
600 
21,012 
4,757 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
1,672 
672 
Trade creditors
7,105 
6,324 
Taxes and social security
2,925 
- 
Loans from directors
65,328 
66,143 
Accruals
1,156 
1,156 
78,186 
74,295 
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LP Fabrication (Hull) Limited Notes to the Accounts for the year ended 30 September 2024
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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