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Registration number: 09664722

LJT Construction Services Limited

Unaudited Financial Statements

for the Year Ended 31 July 2024

 

LJT Construction Services Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 8

 

LJT Construction Services Limited

(Registration number: 09664722)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

26,952

27,249

Current assets

 

Stocks

6

7,500

4,000

Debtors

7

19,688

8,475

Cash at bank and in hand

 

3,005

14,169

 

30,193

26,644

Creditors: Amounts falling due within one year

8

(34,737)

(39,407)

Net current liabilities

 

(4,544)

(12,763)

Total assets less current liabilities

 

22,408

14,486

Creditors: Amounts falling due after more than one year

8

-

(9,292)

Provisions for liabilities

(5,121)

(5,177)

Net assets

 

17,287

17

Capital and reserves

 

Called up share capital

100

100

Retained earnings

17,187

(83)

Shareholders' funds

 

17,287

17

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 11 December 2024
 

.........................................
Mr Liam Treanor
Director

 

LJT Construction Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 1 The Cam Centre
Wilbury Way
Hitchin
Hertfordshire
SG4 0TW
England

These financial statements were authorised for issue by the director on 11 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

At the balance sheet date the company had net current liabilities of £4,544 (2023: £12,763). The directors have pledged to continue to financially support the company for the foreseeable future. On this basis, the director feels it is appropriate to prepare these financial statements on a going concern basis.

 

LJT Construction Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Grants relating to revenue are recognised in income on a systematic basis over the periods in which
the business recognises related costs which the grant is intended to compensate.

A grant that becomes receivable as compensation for expenses or losses already incurred or for the
purpose of giving immediate financial support to the entity with no future related costs shall be
recognised in income in the period in which it becomes receivable.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

LJT Construction Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

Asset class

Depreciation method and rate

Plant and Machinery

33% Straight Line

Motor Vehicle

20% Reducing Balance

Equipment

20% Straight Line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised at the transaction price.

Stocks

The cost of finished goods comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

LJT Construction Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

6,751

6,691

 

LJT Construction Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 August 2023

1,240

55,507

9,459

66,206

Additions

-

5,150

1,303

6,453

At 31 July 2024

1,240

60,657

10,762

72,659

Depreciation

At 1 August 2023

1,240

33,127

4,590

38,957

Charge for the year

-

4,647

2,103

6,750

At 31 July 2024

1,240

37,774

6,693

45,707

Carrying amount

At 31 July 2024

-

22,883

4,069

26,952

At 31 July 2023

-

22,380

4,869

27,249

6

Stocks

2024
£

2023
£

Other inventories

7,500

4,000

7

Debtors

Current

2024
£

2023
£

Trade debtors

-

2,640

Prepayments

1,728

1,326

Other debtors

17,960

4,509

 

19,688

8,475

 

LJT Construction Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

13

-

5,048

Trade creditors

 

8,459

7,045

Taxation and social security

 

12,345

20,159

Accruals and deferred income

 

1,200

7,155

Other creditors

 

12,733

-

 

34,737

39,407

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

13

-

9,292

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

         

10

Dividends

2024

2023

£

£

Interim dividend of £115.00 (2023 - £545.00) per ordinary share

11,500

54,500

 

 

11

Related party transactions

At the balance sheet date the company owed £2,981 (2023: was owed £4,509) by Mr L Treanor, the director of the company. There are no terms relating to the payment of interest or repayment of capital on this loan.

 

LJT Construction Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2024

12

Parent and ultimate parent undertaking

The ultimate controlling party is Mr L Treanor by virtue of his shareholding.

13

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

9,292

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

5,048