IRIS Accounts Production v24.3.0.553 01206888 Board of Directors 1.4.23 31.3.24 31.3.24 8.11.24 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh012068882023-03-31012068882024-03-31012068882023-04-012024-03-31012068882022-03-31012068882022-04-012023-03-31012068882023-03-3101206888ns15:EnglandWales2023-04-012024-03-3101206888ns14:PoundSterling2023-04-012024-03-3101206888ns10:Director12023-04-012024-03-3101206888ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3101206888ns10:SmallEntities2023-04-012024-03-3101206888ns10:Audited2023-04-012024-03-3101206888ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3101206888ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3101206888ns10:FullAccounts2023-04-012024-03-3101206888ns10:Director22023-04-012024-03-3101206888ns10:Director32023-04-012024-03-3101206888ns10:Director42023-04-012024-03-3101206888ns10:Director52023-04-012024-03-3101206888ns10:Director62023-04-012024-03-3101206888ns10:Director72023-04-012024-03-3101206888ns10:CompanySecretary12023-04-012024-03-3101206888ns10:RegisteredOffice2023-04-012024-03-3101206888ns5:CurrentFinancialInstruments2024-03-3101206888ns5:CurrentFinancialInstruments2023-03-3101206888ns5:Non-currentFinancialInstruments2024-03-3101206888ns5:Non-currentFinancialInstruments2023-03-3101206888ns5:ShareCapital2024-03-3101206888ns5:ShareCapital2023-03-3101206888ns5:RetainedEarningsAccumulatedLosses2024-03-3101206888ns5:RetainedEarningsAccumulatedLosses2023-03-3101206888ns5:LandBuildings2023-03-3101206888ns5:PlantMachinery2023-03-3101206888ns5:MotorVehicles2023-03-3101206888ns5:LandBuildings2023-04-012024-03-3101206888ns5:PlantMachinery2023-04-012024-03-3101206888ns5:MotorVehicles2023-04-012024-03-3101206888ns5:LandBuildings2024-03-3101206888ns5:PlantMachinery2024-03-3101206888ns5:MotorVehicles2024-03-3101206888ns5:LandBuildings2023-03-3101206888ns5:PlantMachinery2023-03-3101206888ns5:MotorVehicles2023-03-3101206888ns5:CostValuation2023-03-3101206888ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3101206888ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3101206888ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2024-03-3101206888ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-03-3101206888ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-03-3101206888ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-03-3101206888ns5:Secured2024-03-3101206888ns5:Secured2023-03-31
REGISTERED NUMBER: 01206888 (England and Wales)















LDRA Limited

Financial Statements for the Year Ended 31 March 2024






LDRA Limited (Registered number: 01206888)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LDRA Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Prof M A Hennell
Mrs M L M Hennell
Mr R P Corley
Mr I J Hennell
Mr J E S Kelly
Mr A J Smith
Mr P Humphreys





SECRETARY: Mrs R M Hennell





REGISTERED OFFICE: Portside
Monks Ferry
Birkenhead
Merseyside
CH41 5LH





REGISTERED NUMBER: 01206888 (England and Wales)





AUDITORS: Advance Audit Limited
Statutory Auditor
71/73 Hoghton Street
Southport
Merseyside
PR9 0PR

LDRA Limited (Registered number: 01206888)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,799,383 1,807,407
Investments 5 100 100
1,799,483 1,807,507

CURRENT ASSETS
Debtors 6 2,569,651 2,678,236
Cash at bank and in hand 1,812,663 2,472,811
4,382,314 5,151,047
CREDITORS
Amounts falling due within one year 7 1,538,917 1,639,069
NET CURRENT ASSETS 2,843,397 3,511,978
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,642,880

5,319,485

CREDITORS
Amounts falling due after more than one
year

8

-

715,000
NET ASSETS 4,642,880 4,604,485

CAPITAL AND RESERVES
Called up share capital 36,300 36,300
Retained earnings 4,606,580 4,568,185
SHAREHOLDERS' FUNDS 4,642,880 4,604,485

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 November 2024 and were signed on its behalf by:





Prof M A Hennell - Director


LDRA Limited (Registered number: 01206888)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

LDRA 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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"), as adapted by Section 1A of FRS 102, and the requirements of the Companies Act 2006.

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.

Going concern
At the time of approving the financial statements, the directors have every expectation that the company has adequate resources to continue in operational existence for the foreseeable future after making reference to current available free cash balances and future contracted work.

The company is currently profitable and is generating positive operating cash-flows. As a consequence it is well placed to manage it's business risks.

Therefore the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Preparation of consolidated financial statements
The financial statements contain information about LDRA Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of services is recognised in line with the timing of the service delivery.

LDRA Limited (Registered number: 01206888)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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 calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of the asset as follows:

Freehold property- 2% on cost
Plant and machinery- 33% on cost, 25% on cost and 25% on reducing balance
Motor vehicles- 25% on reducing balance

No depreciation has been charged on land in the current year.

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.

Investments in subsidiaries
Interests in subsidiaries, are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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.

Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand and deposits held at call with banks.

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.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

LDRA Limited (Registered number: 01206888)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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 and bank loans, 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. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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

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.

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.

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.

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.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

LDRA Limited (Registered number: 01206888)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2023 - 41 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 April 2023 1,796,761 1,586,742 111,879 3,495,382
Additions - 157,460 - 157,460
At 31 March 2024 1,796,761 1,744,202 111,879 3,652,842
DEPRECIATION
At 1 April 2023 268,976 1,333,630 85,369 1,687,975
Charge for year 24,402 134,455 6,627 165,484
At 31 March 2024 293,378 1,468,085 91,996 1,853,459
NET BOOK VALUE
At 31 March 2024 1,503,383 276,117 19,883 1,799,383
At 31 March 2023 1,527,785 253,112 26,510 1,807,407

Included in cost of land and buildings is freehold land of £ 548,289 (2023 - £ 548,289 ) which is not depreciated.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 100
NET BOOK VALUE
At 31 March 2024 100
At 31 March 2023 100

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 958,366 837,317
Other debtors 1,357,340 1,654,784
Directors' current accounts 50,000 -
VAT - 3,942
Deferred tax asset 91,741 113,151
Prepayments 112,204 69,042
2,569,651 2,678,236

LDRA Limited (Registered number: 01206888)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 330,000
Trade creditors 65,688 62,679
Amounts owed to group undertakings 100 100
Tax 120,577 -
Social security and other taxes 175,645 302,817
VAT 34,390 -
Other creditors 63,973 58,528
Accruals and deferred income 1,078,544 884,945
1,538,917 1,639,069

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years - 330,000
Bank loans - 2-5 years - 385,000
- 715,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 1,045,000

The bank loan was secured on the properties at Alexander House, Monks Ferry, Birkenhead, Wirral, CH41 5LH and Portside, Monks Ferry, Birkenhead, Wirral, CH41 5LH.

The loan is also secured by a debenture incorporating a fixed and floating charge over all current and future assets of the business.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Jennifer Tobin FCCA (Senior Statutory Auditor)
for and on behalf of Advance Audit Limited

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

As at the year end debtors due within one year included £50,000 (2023: £nil) due from a director in the company. This amount was repaid by the director in the 2025 financial year.

12. ULTIMATE CONTROLLING PARTY

In the opinion of the members there is no ultimate controlling party.