REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
LANGLEY STRUCTURES LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
LANGLEY STRUCTURES LIMITED |
LANGLEY STRUCTURES LIMITED (REGISTERED NUMBER: 09994977) |
CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31 December 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
LANGLEY STRUCTURES LIMITED |
COMPANY INFORMATION |
For The Year Ended 31 December 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
1 Rushmills |
Bedford Road |
Northampton |
Northamptonshire |
NN4 7YB |
LANGLEY STRUCTURES LIMITED (REGISTERED NUMBER: 09994977) |
BALANCE SHEET |
31 December 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Share premium |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
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 |
LANGLEY STRUCTURES LIMITED (REGISTERED NUMBER: 09994977) |
NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31 December 2023 |
1. | STATUTORY INFORMATION |
Langley Structures Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: |
Revenue from the sale of goods is recognised when all of the following conditions are satisfied: |
- The company has transferred the significant risks and rewards of ownership to the buyer; |
- The company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; |
- The amount of revenue can be measured reliably; |
- It is probable the company will receive the consideration due under the transaction; and |
- The costs incurred or to be incurred in respect of the transaction can be measured reliably. |
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: |
- The amount of revenue can be measured reliably; |
- It is probable that the Company will receive the consideration due under the contract; |
- The stage of completion of the contract at the end of the reporting period can be measured reliably; and |
- The costs incurred and the costs to complete the contract can be measured reliably. |
Tangible fixed assets |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at lower of cost and estimated selling price less costs to complete and sell, 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. |
LANGLEY STRUCTURES LIMITED (REGISTERED NUMBER: 09994977) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 December 2023 |
2. | ACCOUNTING POLICIES - continued |
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. |
Going concern |
The accounts have been prepared on the going concern basis, and the directors consider that this is appropriate because of the support from the parent company. |
As at the point of authorising the accounts, and for the foreseeable future, the directors consider the going concern assumption to still be appropriate. The directors acknowledge that given the currently rapidly changing business and social environment, there are likely to be significant unknown factors which may present themselves. Such factors are considered by the directors to represent a general inherent level of risk in relation to the going concern assumption albeit not quantifiable at this time. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor | Computer |
fittings | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
LANGLEY STRUCTURES LIMITED (REGISTERED NUMBER: 09994977) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 December 2023 |
5. | STOCKS |
2023 | 2022 |
£ | £ |
Stocks |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
8. | PROVISIONS FOR LIABILITIES |
2023 | 2022 |
£ | £ |
Deferred tax | 1,182 | 1,696 |
Deferred |
tax |
£ |
Balance at 1 January 2023 |
Credit to Income Statement during year | ( |
) |
Balance at 31 December 2023 |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary Shares | 0.10 | 75 | 75 |
Ordinary A Shares | 0.10 | 25 | 25 |
100 | 100 |
Following the appointment of HP Secretarial Services Limited, Companies House documentation has been updated to reflect the correct allotment and transfers in share holdings within Langley Structures Limited between the Ordinary and A Ordinary share holdings. As a result of this 2022 share capital split has been amended. |
Ordinary shares have equal voting rights and rights to capital distribution. |
A Ordinary shares have no voting rights however have rights to capital distribution. |
LANGLEY STRUCTURES LIMITED (REGISTERED NUMBER: 09994977) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31 December 2023 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | RELATED PARTY TRANSACTIONS |
Langley Structures Limited is not a wholly-owned subsidiary, and has trading with other group companies. |
During the year ended 31 December 2023 the company was charged £272,734 (2022: £299,220) of management charges by a group company. At 31 December 2023 the amount due to this entity was £16,910 (2022: £83,194). |
During the year ended 31 December 2023 the company was charged £45,570 (2022: £28,774) for goods purchased from another group company. At 31 December 2023 the amount due to this entity was £1,557 (2022: £51,130). |
During the year ended 31 December 2023 the company was charged £12,000 (2022: £12,000) of rent by another group company. At 31 December 2023 the amount due to this entity was £NIL (2022: £Nil). |
During the year ended 31 December 2023 the company was charged £327 (2022: £NIL) for goods purchased by another group company. At 31 December 2023 the amount due to this entity was £NIL (2022: £Nil). |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party is Langley UK Limited. |
The ultimate controlling party is |
The smallest group for which consolidated financial statements are prepared in headed by Cavello Group Limited (formerly known as Langley Corporation Limited) and copies of these can be obtained from this parent company's registered office at Langley House, Lamport Drive, Heartland Business Park, Daventry, Northamptonshire, NN11 8YH. |