IRIS Accounts Production v24.3.2.46 04204136 Board of Directors 1.6.23 31.5.24 31.5.24 fencing contractors. true true false true true false false false true false Ordinary 'C' shares 1.00000 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arningsAccumulatedLosses2023-05-3104204136ns5:CapitalRedemptionReserve2023-05-31
REGISTERED NUMBER: 04204136 (England and Wales)













STRATEGIC REPORT, REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

LITTLEWOOD FENCING LIMITED

LITTLEWOOD FENCING LIMITED (REGISTERED NUMBER: 04204136)






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




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Notes to the Financial Statements 11


LITTLEWOOD FENCING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: J M Hobden
D A Symes
J Verjee





REGISTERED OFFICE: North Trade Road
Battle
East Sussex
TN33 9LJ





REGISTERED NUMBER: 04204136 (England and Wales)





AUDITORS: Watson Associates (Audit Services) Ltd
Statutory Auditor
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

LITTLEWOOD FENCING LIMITED (REGISTERED NUMBER: 04204136)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2024

The directors present their strategic report for the year ended 31 May 2024.

REVIEW OF BUSINESS
Littlewood Fencing Limited is a well established and reputable fencing contractor which services its clients all over the UK from its head office in the South East of England and two other locations in the South West and the East Midlands.

Turnover has increased by 56.26% this year, the Gross Profit margin has decreased this year from 25.17% in the previous year to 22.43% in the current year. Net Operating Profit margin has increased from 3.98% to 5.86%.

Key performance indicators for the year:

2024 2023
£ £
Turnover 47,686,126 30,518,012
Gross Profit 10,695,598 7,682,347
Operating Profit 1,308,327 1,012,524
Gross Assets 23,069,681 19,698,714
Net Assets 15,844,471 13,718,431

Normalised earnings before interest, tax, depreciation and amortisation ('EBITDA') for the company is shown below:

2024 2023
£ £
Operating Profit 1,308,327 1,012,524
Interest received (69,816) (79,162)
Interest paid 138,699 93,623
Tax 396,420 203,498
Depreciation 371,489 306,238
Amortisation (28,873) -
EBITDA 2,116,246 1,536,721

The directors have considered the potential implications of the current economic climate, taking into account
the Russia/Ukraine conflict and rising inflation, and its impact on costs.

The Directors were satisfied with the performance of the group in these tough economic conditions and are
positive about the coming year's trade.

PRINCIPAL RISKS AND UNCERTAINTIES
The company operates in the construction industry and is subject to significant governmental regulation including stringent laws relating to health and safety.

Like every business, our management team is regularly monitoring our risk profile and provides clear guidelines and assurances that all social, legal and health and safety responsibilities are adhered to.

ON BEHALF OF THE BOARD:





J M Hobden - Director


13 September 2024

LITTLEWOOD FENCING LIMITED (REGISTERED NUMBER: 04204136)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 MAY 2024

The directors present their report with the financial statements of the company for the year ended 31 May 2024.

DIVIDENDS
The profit for the year after taxation amounted to £1,308,327. The total dividends declared on the "C" shares held by the parent company during the year was £Nil. The remaining balance of £1,308,327 has been taken to reserves.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 June 2023 to the date of this report.

J M Hobden
D A Symes
J Verjee

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Watson Associates (Audit Services) Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





J M Hobden - Director


13 September 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
LITTLEWOOD FENCING LIMITED

Opinion
We have audited the financial statements of Littlewood Fencing Limited (the 'company') for the year ended 31 May 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 May 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
LITTLEWOOD FENCING LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
LITTLEWOOD FENCING LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Prior to engagement the following audit procedures are considered:
- Identification of laws and regulations being significant in the context of the entity;
- Understanding the entity's current activities, the scope of its authorisation and the effectiveness of its control environment where the entity is a regulated entity;
- Determining any key audit matters that require further explanation;
- In the case of a group, how the auditor addressed these matters at both at the group and component levels;
- communications with the engagement team and, where relevant, component auditors regarding non-compliance with laws and regulations and fraud.

Audit procedures performed by the engagement team to detect irregularities, including fraud from instances of non-compliance with laws and regulations included:
- Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;
- Reading key correspondence from regulatory bodies;
- Challenging assumptions and judgements made by management in it's significant accounting estimates that involved making assumptions and considering future events that are inherently uncertain. We focused on the valuation of provisions against WIP, retentions and application debtors, and the assessment of impairment of intangible and tangible assets, as well as any other estimates and provisions within the accounts;
- Consideration of recent correspondence with the companies legal advisors to ensure that it aligned with the conclusions drawn on obligations recognised in respect of uncertain legal matters;
- Identifying and testing journal entries, in particular any journal entries posted with unusual account combinations or those posted by unexpected users; and
- Testing all material consolidation adjustments to ensure these were appropriate in nature and magnitude;
- Communicating with component auditors any matters which arise, and disclosing any instances of
non-compliance or fraud, in addition to testing inter-group transactions and amounts owed by/(to) any group companies;
- Reviewing relevant meeting minutes including those of the board of directors
- Testing transactions entered into that are outside of the normal course of the Company's business

We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, through discussion with the directors and other management (as required by auditing standards), and from inspection of the group's regulatory and legal correspondence and discussed with the directors and other management the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our audit team and remained alert to any indications of non-compliance throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
LITTLEWOOD FENCING LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Stephen James Moore (Senior Statutory Auditor)
for and on behalf of Watson Associates (Audit Services) Ltd
Statutory Auditor
30 - 34 North Street
Hailsham
East Sussex
BN27 1DW

13 September 2024

LITTLEWOOD FENCING LIMITED (REGISTERED NUMBER: 04204136)

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MAY 2024

2024 2023
Notes £    £   

TURNOVER 47,686,126 30,518,012

Cost of sales (36,990,528 ) (22,835,665 )
GROSS PROFIT 10,695,598 7,682,347

Administrative expenses (8,922,989 ) (6,451,864 )
1,772,609 1,230,483

Other operating income 1,021 -
1,773,630 1,230,483

Interest receivable and similar income 69,816 79,162
1,843,446 1,309,645

Interest payable and similar expenses 4 (138,699 ) (93,623 )
PROFIT BEFORE TAXATION 5 1,704,747 1,216,022

Tax on profit 6 (396,420 ) (203,498 )
PROFIT FOR THE FINANCIAL YEAR 1,308,327 1,012,524

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,308,327

1,012,524

LITTLEWOOD FENCING LIMITED (REGISTERED NUMBER: 04204136)

BALANCE SHEET
31 MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 7 (194,885 ) -
Tangible assets 8 1,823,681 1,319,168
Investments 9 100 -
1,628,896 1,319,168

CURRENT ASSETS
Stocks 10 450,385 183,557
Debtors 11 15,208,724 15,811,869
Cash at bank and in hand 5,781,676 2,384,120
21,440,785 18,379,546
CREDITORS
Amounts falling due within one year 12 (7,302,387 ) (5,503,025 )
NET CURRENT ASSETS 14,138,398 12,876,521
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,767,294

14,195,689

CREDITORS
Amounts falling due after more than one
year

13

(292,691

)

(166,736

)

PROVISIONS FOR LIABILITIES 15 (447,845 ) (310,522 )
NET ASSETS 15,026,758 13,718,431

CAPITAL AND RESERVES
Called up share capital 16 60 60
Capital redemption reserve 17 40 40
Retained earnings 17 15,026,658 13,718,331
SHAREHOLDERS' FUNDS 15,026,758 13,718,431

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:





J M Hobden - Director


LITTLEWOOD FENCING LIMITED (REGISTERED NUMBER: 04204136)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024

Called up Capital
share Retained redemption Total
capital earnings reserve equity
£    £    £    £   
Balance at 1 June 2022 60 12,705,807 40 12,705,907

Changes in equity
Total comprehensive income - 1,012,524 - 1,012,524
Balance at 31 May 2023 60 13,718,331 40 13,718,431

Changes in equity
Total comprehensive income - 1,308,327 - 1,308,327
Balance at 31 May 2024 60 15,026,658 40 15,026,758

LITTLEWOOD FENCING LIMITED (REGISTERED NUMBER: 04204136)

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

1. STATUTORY INFORMATION

Littlewood Fencing 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

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

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.

Negative Goodwill are being amortised evenly over their estimated useful life of nil years.

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 and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, 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 Statement of Comprehensive Income, 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.


LITTLEWOOD FENCING LIMITED (REGISTERED NUMBER: 04204136)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 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
2024 2023
£    £   
Wages and salaries 10,278,017 13,818,387
Social security costs 1,101,879 854,731
Other pension costs 178,542 165,122
11,558,438 14,838,240

The average number of employees during the year was as follows:
2024 2023

Direct 116 111
Indirect 82 79
198 190

2024 2023
£    £   
Directors' remuneration 40,000 40,000

LITTLEWOOD FENCING LIMITED (REGISTERED NUMBER: 04204136)

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

4. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 90,742 70,149
Hire purchase 47,957 23,474
138,699 93,623

5. PROFIT BEFORE TAXATION

The profit is stated after charging/(crediting):

2024 2023
£    £   
Hire of plant and machinery 1,260,021 2,169,700
Depreciation - owned assets 141,568 97,594
Depreciation - assets on hire purchase contracts 229,922 208,645
Profit on disposal of fixed assets (23,912 ) (5,683 )
Negative Goodwill amortisation (28,873 ) -
Auditors' remuneration 20,475 20,475

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 259,097 243,205
Corp tax prior year adjustment - (13,004 )
Corporation tax interest - 16,523
Total current tax 259,097 246,724

Deferred tax 137,323 (43,226 )
Tax on profit 396,420 203,498

LITTLEWOOD FENCING LIMITED (REGISTERED NUMBER: 04204136)

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

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,704,747 1,216,022
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 20.003%)

426,187

243,241

Effects of:
Expenses not deductible for tax purposes 7,793 2,832
Capital allowances in excess of depreciation - (4,004 )
Depreciation in excess of capital allowances 130,150 -
Adjustments to tax charge in respect of previous periods - 3,518
Disposal of assets (5,978 ) 1,137
Deferred Tax Movement (137,323 ) (43,226 )
Group Relief (24,409 ) -
Total tax charge 396,420 203,498

7. INTANGIBLE FIXED ASSETS
Negative
Goodwill Goodwill Totals
£    £    £   
COST
At 1 June 2023 225,000 - 225,000
Additions - (223,758 ) (223,758 )
At 31 May 2024 225,000 (223,758 ) 1,242
AMORTISATION
At 1 June 2023 225,000 - 225,000
Amortisation for year - (28,873 ) (28,873 )
At 31 May 2024 225,000 (28,873 ) 196,127
NET BOOK VALUE
At 31 May 2024 - (194,885 ) (194,885 )
At 31 May 2023 - - -

LITTLEWOOD FENCING LIMITED (REGISTERED NUMBER: 04204136)

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

8. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 1,140,379 189,290 2,091,863 17,035 3,438,567
Additions 198,623 53,910 645,763 23,293 921,589
Disposals (18,000 ) - (214,242 ) - (232,242 )
At 31 May 2024 1,321,002 243,200 2,523,384 40,328 4,127,914
DEPRECIATION
At 1 June 2023 752,562 54,951 1,311,072 814 2,119,399
Charge for year 69,660 25,420 272,321 4,089 371,490
Eliminated on disposal (10,294 ) - (176,362 ) - (186,656 )
At 31 May 2024 811,928 80,371 1,407,031 4,903 2,304,233
NET BOOK VALUE
At 31 May 2024 509,074 162,829 1,116,353 35,425 1,823,681
At 31 May 2023 387,817 134,339 780,791 16,221 1,319,168

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2023 - 1,093,361 1,093,361
Additions 154,463 421,977 576,440
Disposals - (42,791 ) (42,791 )
Transfer to ownership - (349,244 ) (349,244 )
At 31 May 2024 154,463 1,123,303 1,277,766
DEPRECIATION
At 1 June 2023 - 480,462 480,462
Charge for year 10,622 219,300 229,922
Eliminated on disposal - (19,281 ) (19,281 )
Transfer to ownership - (230,629 ) (230,629 )
At 31 May 2024 10,622 449,852 460,474
NET BOOK VALUE
At 31 May 2024 143,841 673,451 817,292
At 31 May 2023 - 612,899 612,899

LITTLEWOOD FENCING LIMITED (REGISTERED NUMBER: 04204136)

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

9. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 100
At 31 May 2024 100
NET BOOK VALUE
At 31 May 2024 100

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Berry Systems UK ltd
Registered office: North Trade Road, Battle, East Sussex, TN33 9LJ
Nature of business: Specialised construction activities
%
Class of shares: holding
Ordinary 100.00
31.5.24
£   
Aggregate capital and reserves (99,429 )
Loss for the period/year (99,529 )

10. STOCKS
2024 2023
£    £   
Stocks 450,385 183,557

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 4,950,210 4,380,755
Amounts owed by group undertakings 10,100,814 9,723,619
Amounts recoverable on contract (783,074 ) 1,303,477
Other debtors 16,499 12,111
VAT 618,257 169,775
Prepayments and accrued income 306,018 222,132
15,208,724 15,811,869

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 14) 322,482 257,147
Trade creditors 4,798,354 4,303,520
Tax 206,662 187,064
Social security and other taxes 238,829 219,722
Other creditors 40,687 41,161
Accrued expenses 1,695,373 494,411
7,302,387 5,503,025

LITTLEWOOD FENCING LIMITED (REGISTERED NUMBER: 04204136)

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

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 14) 292,691 166,736

14. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£    £   
Net obligations repayable:
Within one year 322,482 257,147
Between one and five years 292,691 166,736
615,173 423,883

15. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 447,845 310,522

Deferred
tax
£   
Balance at 1 June 2023 310,522
Provided during year 137,323
Balance at 31 May 2024 447,845

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
60 Ordinary 'C' shares 1 60 60

17. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 June 2023 13,718,331 40 13,718,371
Profit for the year 1,308,327 1,308,327
At 31 May 2024 15,026,658 40 15,026,698

18. ULTIMATE PARENT COMPANY

Littlewood Fencing UK Limited is regarded by the directors as being the company's ultimate parent company.

LITTLEWOOD FENCING LIMITED (REGISTERED NUMBER: 04204136)

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

19. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.