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Registration number: 06527273

Lostock Construction Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

Pages for filing with Registrar

 

Lostock Construction Services Limited

Contents


 

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Lostock Construction Services Limited

Company Information


 

Director

Mr A G German

Company secretary

Mrs E German

Registered office

27 Brize Avenue
Kingsway
Gloucestershire
GL2 2ED

 

Lostock Construction Services Limited

(Registration number: 06527273)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

31

60

Investment property

5

201,148

201,148

 

201,179

201,208

Current assets

 

Debtors

6

86,137

82,106

Cash at bank and in hand

 

225,479

193,731

 

311,616

275,837

Creditors: Amounts falling due within one year

7

(152,687)

(120,951)

Net current assets

 

158,929

154,886

Total assets less current liabilities

 

360,108

356,094

Provisions for liabilities

(7)

(11)

Net assets

 

360,101

356,083

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

359,101

355,083

Shareholders' funds

 

360,101

356,083

 

Lostock Construction Services Limited

(Registration number: 06527273)
Balance Sheet as at 31 March 2024 (continued)

For the financial year ending 31 March 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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 January 2025
 

.........................................
Mr A G German
Director

 

Lostock Construction Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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:
27 Brize Avenue
Kingsway
Gloucestershire
GL2 2ED

These financial statements were authorised for issue by the director on 29 January 2025.

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.

The financial statements are prepared in Sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Revenue recognition

Turnover represents net invoiced sales of services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

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.

 

Lostock Construction Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

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:

Asset class

Depreciation method and rate

Fixtures, fittings and equipment

15% and 33% on cost

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

 

Lostock Construction Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Classification
The Company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company’s statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and liability simultaneously.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. As equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Lostock Construction Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Tangible assets

Fixtures, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2023

10,605

10,605

At 31 March 2024

10,605

10,605

Depreciation

At 1 April 2023

10,545

10,545

Charge for the year

29

29

At 31 March 2024

10,574

10,574

Carrying amount

At 31 March 2024

31

31

At 31 March 2023

60

60

5

Investment properties

2024
£

At 1 April

201,148

At 31 March

201,148

There has been no valuation of investment property by an independent valuer. The director deemed this value to still be appropriate at the financial year end.

6

Debtors

Current

2024
£

2023
£

Trade debtors

17,160

17,160

Prepayments

8,168

4,200

Other debtors

60,809

60,746

 

86,137

82,106

 

Lostock Construction Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

152,687

120,951

8

Related party transactions

Loans to related parties

2024

Key management
£

At start of period

47,722

Advances and repayments

(1,773)

Interest at 2.00%

1,838

At end of period

47,787

2023

Key management
£

At start of period

36,865

Advances and repayments

9,408

Interest at 2.00%

1,449

At end of period

47,722

Terms of loans to related parties

Loans owed by key management are repayable on demand.