L & L Installations Ltd 02058407 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is Double glazed windows and doors manufacture Digita Accounts Production Advanced 6.30.9574.0 true true true 02058407 2023-05-01 2024-04-30 02058407 2024-04-30 02058407 bus:OrdinaryShareClass1 2024-04-30 02058407 core:RetainedEarningsAccumulatedLosses 2024-04-30 02058407 core:RevaluationReserve 2024-04-30 02058407 core:ShareCapital 2024-04-30 02058407 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-04-30 02058407 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-04-30 02058407 core:CurrentFinancialInstruments 2024-04-30 02058407 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 02058407 core:Non-currentFinancialInstruments 2024-04-30 02058407 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 02058407 core:LandBuildings 2024-04-30 02058407 core:MotorVehicles 2024-04-30 02058407 core:OtherPropertyPlantEquipment 2024-04-30 02058407 bus:SmallEntities 2023-05-01 2024-04-30 02058407 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 02058407 bus:FilletedAccounts 2023-05-01 2024-04-30 02058407 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 02058407 bus:RegisteredOffice 2023-05-01 2024-04-30 02058407 bus:CompanySecretaryDirector1 2023-05-01 2024-04-30 02058407 bus:Director1 2023-05-01 2024-04-30 02058407 bus:Director3 2023-05-01 2024-04-30 02058407 bus:Director4 2023-05-01 2024-04-30 02058407 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 02058407 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02058407 core:LandBuildings 2023-05-01 2024-04-30 02058407 core:MotorVehicles 2023-05-01 2024-04-30 02058407 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 02058407 core:PlantMachinery 2023-05-01 2024-04-30 02058407 countries:EnglandWales 2023-05-01 2024-04-30 02058407 2023-04-30 02058407 core:LandBuildings 2023-04-30 02058407 core:MotorVehicles 2023-04-30 02058407 core:OtherPropertyPlantEquipment 2023-04-30 02058407 2022-05-01 2023-04-30 02058407 2023-04-30 02058407 bus:OrdinaryShareClass1 2023-04-30 02058407 core:RetainedEarningsAccumulatedLosses 2023-04-30 02058407 core:RevaluationReserve 2023-04-30 02058407 core:ShareCapital 2023-04-30 02058407 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-04-30 02058407 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-04-30 02058407 core:CurrentFinancialInstruments 2023-04-30 02058407 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 02058407 core:Non-currentFinancialInstruments 2023-04-30 02058407 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 02058407 core:LandBuildings 2023-04-30 02058407 core:MotorVehicles 2023-04-30 02058407 core:OtherPropertyPlantEquipment 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02058407

L & L Installations Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

L & L Installations Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

L & L Installations Ltd

Company Information

Directors

Mr D C Lannen

Mr JW Lannen

Mrs M Lannen

Mrs C A Lannen

Company secretary

Mr JW Lannen

Registered office

Red Lane
Quay Street
Tewkesbury
Glos
GL20 5BQ

Accountants

Devereux & Hunt Ltd
Certified Accountants
51 Basepoint Business Centre
Oakfield Close
Tewkesbury
Glos
GL20 8SD

 

L & L Installations Ltd

(Registration number: 02058407)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

407,354

376,649

Current assets

 

Stocks

6

59,480

74,479

Debtors

7

65,062

45,543

Cash at bank and in hand

 

43,543

300

 

168,085

120,322

Creditors: Amounts falling due within one year

8

(320,988)

(263,203)

Net current liabilities

 

(152,903)

(142,881)

Total assets less current liabilities

 

254,451

233,768

Creditors: Amounts falling due after more than one year

8

(65,378)

(74,101)

Provisions for liabilities

(16,521)

(10,206)

Net assets

 

172,552

149,461

Capital and reserves

 

Called up share capital

9

400

400

Revaluation reserve

101,303

101,303

Retained earnings

70,849

47,758

Shareholders' funds

 

172,552

149,461

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 7 November 2024 and signed on its behalf by:
 

 

L & L Installations Ltd

(Registration number: 02058407)
Balance Sheet as at 30 April 2024

.........................................
Mr D C Lannen
Director

.........................................
Mr JW Lannen
Company secretary and director

 

L & L Installations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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:
Red Lane
Quay Street
Tewkesbury
Glos
GL20 5BQ

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, 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.

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.

 

L & L Installations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

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:

Asset class

Depreciation method and rate

Land and buildings

Straight line over 100 years

Plant and machinery

12%/24% straight line

Motor vehicles

24% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress 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.

 

L & L Installations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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 initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

L & L Installations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 34 (2023 - 30).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

8,038

20,573

5

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

310,000

276,025

179,515

765,540

Additions

-

28,200

10,543

38,743

Disposals

-

(24,355)

-

(24,355)

At 30 April 2024

310,000

279,870

190,058

779,928

Depreciation

At 1 May 2023

-

223,908

164,988

388,896

Charge for the year

-

3,065

4,968

8,033

Eliminated on disposal

-

(24,355)

-

(24,355)

At 30 April 2024

-

202,618

169,956

372,574

Carrying amount

At 30 April 2024

310,000

77,252

20,102

407,354

At 30 April 2023

310,000

52,117

14,532

376,649

Included within the net book value of land and buildings above is £310,000 (2023 - £310,000) in respect of freehold land and buildings.
 

Revaluation

 

L & L Installations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

The fair value of the company's land and buildings was revalued on 28 April 2021 by an independent valuer. . The name and qualification of the independent valuer are John Ryde Commercial.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £208,697 (2023 - £208,697).

6

Stocks

2024
£

2023
£

Work in progress

24,590

34,846

Other inventories

34,890

39,633

59,480

74,479

7

Debtors

Current

2024
£

2023
£

Trade debtors

59,465

39,408

Prepayments

2,930

2,449

Other debtors

2,667

3,686

 

65,062

45,543

 

L & L Installations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

19,184

33,275

Trade creditors

 

74,598

93,025

Taxation and social security

 

111,485

22,180

Accruals and deferred income

 

2,100

2,100

Other creditors

 

113,621

112,623

 

320,988

263,203

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

65,378

74,101

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

400

400

400

400

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

21,600

31,570

Hire purchase contracts

43,778

42,531

65,378

74,101

Current loans and borrowings

 

L & L Installations Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2024
£

2023
£

Bank overdrafts

-

16,470

Hire purchase contracts

19,184

16,805

19,184

33,275