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Registered Number: 13284611
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 March 2024

for

LHC DEVELOPERS LTD

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 18,306    2,478 
18,306    2,478 
Current assets      
Stocks 4 102,000    650,000 
Debtors 5 1,892    6,000 
Cash at bank and in hand 173,547    83,154 
277,439    739,154 
Creditors: amount falling due within one year 6 (128,973)   (713,910)
Net current assets 148,466    25,244 
 
Total assets less current liabilities 166,772    27,722 
Creditors: amount falling due after more than one year 7 (10,137)  
Net assets 156,635    27,722 
 

Capital and reserves
     
Called up share capital 8 2    2 
Profit and loss account 156,633    27,720 
Shareholders' funds 156,635    27,722 
 


For the 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.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 25 November 2024 and were signed on its behalf by:


-------------------------------
M P Clements
Director
-------------------------------
N R Linford-Hazell
Director
1
General Information
LHC Developers Ltd is a private company, limited by shares, registered in England and Wales, registration number 13284611, registration address 190 Middletons Lane, Norwich, Norfolk, NR6 5SF.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the balance sheet when their payment has been approved by the shareholders prior to the balance sheet date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 25% Reducing Balance
Computer Equipment 33 Straight Line
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 April 2023 4,051      4,051 
Additions 16,578    323    16,901 
Disposals    
At 31 March 2024 20,629    323    20,952 
Depreciation
At 01 April 2023 1,573      1,573 
Charge for year 965    108    1,073 
On disposals    
At 31 March 2024 2,538    108    2,646 
Net book values
Closing balance as at 31 March 2024 18,091    215    18,306 
Opening balance as at 01 April 2023 2,478      2,478 


4.

Stocks

2024
£
  2023
£
Stocks 102,000    650,000 
102,000    650,000 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors   6,000 
Prepayments & Accrued Income 1,892   
1,892    6,000 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 20,388    44,200 
Corporation Tax 63,081    9,033 
PAYE & Social Security 821    288 
CIS Control Account 2,668    3,746 
Accrued Expenses   1,200 
Other Creditors   606,000 
Obligations under HP/Financial Leases 5,042   
Directors' Current Accounts 37,755    52,258 
VAT Control (782)   (2,815)
128,973    713,910 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Obligations Under HP/Financial Leases 10,137   
10,137   

8.

Share Capital

Authorised
2 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
2 Class A shares of £1.00 each  
 

2