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Registered number: 10801441
Lydford Boilers Ltd
Unaudited Financial Statements
For The Year Ended 30 June 2024
GC Accounting Ltd
FMAAT
Unit 2A Miers Business Park
Creeches Lane
Walton
Somerset
BA16 9FF
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10801441
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 6,000 6,000
Tangible Assets 5 1,764 2,605
7,764 8,605
CURRENT ASSETS
Cash at bank and in hand 1,918 3,534
1,918 3,534
Creditors: Amounts Falling Due Within One Year 6 (6,173 ) (1,127 )
NET CURRENT ASSETS (LIABILITIES) (4,255 ) 2,407
TOTAL ASSETS LESS CURRENT LIABILITIES 3,509 11,012
Creditors: Amounts Falling Due After More Than One Year 7 (2,633 ) (6,276 )
NET ASSETS 876 4,736
CAPITAL AND RESERVES
Called up share capital 8 1 1
Profit and Loss Account 875 4,735
SHAREHOLDERS' FUNDS 876 4,736
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 S Putland
Director
9th January 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Lydford Boilers Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10801441 . The registered office is 4 Southview, Lydford On Fosse, Somerset, TA11 7HB.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. 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 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 -
Sales, marketing and distribution 1 1
2 1
Page 3
Page 4
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 6,000
As at 30 June 2024 6,000
Net Book Value
As at 30 June 2024 6,000
As at 1 July 2023 6,000
5. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 July 2023 2,925 2,950 5,875
Additions - 1,400 1,400
Disposals - (2,250 ) (2,250 )
As at 30 June 2024 2,925 2,100 5,025
Depreciation
As at 1 July 2023 2,120 1,150 3,270
Provided during the period 161 280 441
Disposals - (450 ) (450 )
As at 30 June 2024 2,281 980 3,261
Net Book Value
As at 30 June 2024 644 1,120 1,764
As at 1 July 2023 805 1,800 2,605
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Accruals and deferred income 608 608
Director's loan account 5,565 519
6,173 1,127
Page 4
Page 5
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 2,633 6,276
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
9. Dividends
Page 5