Acorah Software Products - Accounts Production 16.1.200 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 5442115 Mr Gregg Woolley Mr Andrew Brown G Woolley, S Woolley, W Lamrick and A Brown true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 5442115 2023-05-31 5442115 2024-05-31 5442115 2023-06-01 2024-05-31 5442115 frs-core:CurrentFinancialInstruments 2024-05-31 5442115 frs-core:MotorVehicles 2024-05-31 5442115 frs-core:MotorVehicles 2023-06-01 2024-05-31 5442115 frs-core:MotorVehicles 2023-05-31 5442115 frs-core:PlantMachinery 2024-05-31 5442115 frs-core:PlantMachinery 2023-06-01 2024-05-31 5442115 frs-core:PlantMachinery 2023-05-31 5442115 frs-core:ShareCapital 2024-05-31 5442115 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 5442115 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 5442115 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 5442115 frs-bus:SmallEntities 2023-06-01 2024-05-31 5442115 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 5442115 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 5442115 1 2023-06-01 2024-05-31 5442115 frs-bus:Director1 2023-06-01 2024-05-31 5442115 frs-bus:Director2 2023-06-01 2024-05-31 5442115 frs-countries:EnglandWales 2023-06-01 2024-05-31 5442115 2022-05-31 5442115 2023-05-31 5442115 2022-06-01 2023-05-31 5442115 frs-core:CurrentFinancialInstruments 2023-05-31 5442115 frs-core:ShareCapital 2023-05-31 5442115 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 5442115
LW Engineering Services Limited
Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 5442115
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 69,779 25,903
69,779 25,903
CURRENT ASSETS
Debtors 5 285,668 364,111
Cash at bank and in hand 598,406 611,059
884,074 975,170
Creditors: Amounts Falling Due Within One Year 6 (149,702 ) (206,964 )
NET CURRENT ASSETS (LIABILITIES) 734,372 768,206
TOTAL ASSETS LESS CURRENT LIABILITIES 804,151 794,109
PROVISIONS FOR LIABILITIES
Deferred Taxation (17,445 ) (6,466 )
NET ASSETS 786,706 787,643
CAPITAL AND RESERVES
Called up share capital 7 200 200
Profit and Loss Account 786,506 787,443
SHAREHOLDERS' FUNDS 786,706 787,643
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Gregg Woolley
Director
Mr Andrew Brown
Director
23 September 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
LW Engineering Services Limited Registered number 5442115 is a limited by shares company incorporated in England & Wales. The Registered Office is 28a Tynewydd Terrace, Newbridge, NP11 4LW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
2.4. Taxation
Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 24 (2023: 30)
24 30
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 June 2023 37,577 46,285 83,862
Additions 474 90,714 91,188
Disposals - (34,982 ) (34,982 )
As at 31 May 2024 38,051 102,017 140,068
Depreciation
As at 1 June 2023 29,457 28,502 57,959
Provided during the period 2,149 21,112 23,261
Disposals - (10,931 ) (10,931 )
As at 31 May 2024 31,606 38,683 70,289
...CONTINUED
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Net Book Value
As at 31 May 2024 6,445 63,334 69,779
As at 1 June 2023 8,120 17,783 25,903
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 269,468 353,956
Prepayments and accrued income 16,200 10,155
285,668 364,111
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 5,071 9,334
Corporation tax 80,046 97,415
Other taxes and social security 13,765 13,562
VAT 44,624 65,606
Net wages - 15,090
Accruals and deferred income 5,726 5,726
Directors' loan accounts 470 231
149,702 206,964
7. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
8. Ultimate Controlling Party
The company's ultimate controlling party is G Woolley, S Woolley, W Lamrick and A Brown by virtue of their ownership of 100% of the issued share capital in the company.
Page 4