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REGISTERED NUMBER: 07427650 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LANTALLIC CONSTRUCTION LIMITED

LANTALLIC CONSTRUCTION LIMITED (REGISTERED NUMBER: 07427650)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LANTALLIC CONSTRUCTION LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: T M Robson
Mrs H D Robson





REGISTERED OFFICE: Lantallic
Holywell Road
Cubert
NEWQUAY
Cornwall
TR8 5HF





REGISTERED NUMBER: 07427650 (England and Wales)





ACCOUNTANTS: TC Group
The Old Carriage Works
Moresk Road
Truro
Cornwall
TR1 1DG

LANTALLIC CONSTRUCTION LIMITED (REGISTERED NUMBER: 07427650)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 127,738 120,477
127,738 120,477

CURRENT ASSETS
Stocks 65,537 122,670
Debtors 6 10,407 7,552
Cash at bank 249,985 165,677
325,929 295,899
CREDITORS
Amounts falling due within one year 7 83,275 68,758
NET CURRENT ASSETS 242,654 227,141
TOTAL ASSETS LESS CURRENT
LIABILITIES

370,392

347,618

CREDITORS
Amounts falling due after more than one
year

8

(49,498

)

(44,466

)

PROVISIONS FOR LIABILITIES 10 (26,937 ) (22,373 )
NET ASSETS 293,957 280,779

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 11 293,947 280,769
293,957 280,779

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

LANTALLIC CONSTRUCTION LIMITED (REGISTERED NUMBER: 07427650)

BALANCE SHEET - continued
31 MARCH 2024


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 10 January 2025 and were signed on its behalf by:





T M Robson - Director


LANTALLIC CONSTRUCTION LIMITED (REGISTERED NUMBER: 07427650)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Lantallic Construction 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 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue for provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. For services spanning the year end, revenue is recognised when the stage of completion can be reliably measured using a percentage of completion method.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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, machinery & equipment - 10% on cost
Motor vehicles - 20% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


LANTALLIC CONSTRUCTION LIMITED (REGISTERED NUMBER: 07427650)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

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.

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 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 20,000
AMORTISATION
At 1 April 2023
and 31 March 2024 20,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

LANTALLIC CONSTRUCTION LIMITED (REGISTERED NUMBER: 07427650)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. TANGIBLE FIXED ASSETS
Plant,
Freehold machinery Motor
property & equipment vehicles Totals
£    £    £    £   
COST
At 1 April 2023 10,000 47,760 165,081 222,841
Additions - 10,638 62,342 72,980
Disposals - (9,138 ) (57,766 ) (66,904 )
At 31 March 2024 10,000 49,260 169,657 228,917
DEPRECIATION
At 1 April 2023 9,000 31,065 62,299 102,364
Charge for year 1,000 3,418 33,237 37,655
Eliminated on disposal - (3 ) (38,837 ) (38,840 )
At 31 March 2024 10,000 34,480 56,699 101,179
NET BOOK VALUE
At 31 March 2024 - 14,780 112,958 127,738
At 31 March 2023 1,000 16,695 102,782 120,477

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 107,315
Additions 62,342
At 31 March 2024 169,657
DEPRECIATION
At 1 April 2023 23,462
Charge for year 33,237
At 31 March 2024 56,699
NET BOOK VALUE
At 31 March 2024 112,958
At 31 March 2023 83,853

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 280 -
Other debtors 10,127 7,552
10,407 7,552

LANTALLIC CONSTRUCTION LIMITED (REGISTERED NUMBER: 07427650)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts and finance leases 26,320 14,568
Trade creditors 13,961 15,522
Taxation and social security 27,106 20,082
Other creditors 15,888 18,586
83,275 68,758

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts and finance leases 49,498 44,466

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts and finance leases 75,818 59,034

Liabilities under hire purchase agreements are secured on the related assets.

In addition Natwest Bank PLC holds a fixed and floating charge over the assets of the company, dated 13 December 2012, which is due to be released.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 26,937 22,373

Deferred
tax
£   
Balance at 1 April 2023 22,373
Accelerated capital allowances 4,564
Balance at 31 March 2024 26,937

11. RESERVES
Retained
earnings
£   

At 1 April 2023 280,769
Profit for the year 66,178
Dividends (53,000 )
At 31 March 2024 293,947

LANTALLIC CONSTRUCTION LIMITED (REGISTERED NUMBER: 07427650)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

12. ULTIMATE CONTROLLING PARTY

The company is controlled by its directors who between them own 100% of the issued share capital.