2023-05-012024-04-302024-04-30false10130290LONDON PREFAB 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LONDON PREFAB LTD

Registered Number
10130290
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

LONDON PREFAB LTD
Company Information
for the year from 1 May 2023 to 30 April 2024

Director

FORDHAM, Adam James

Registered Address

City Reach
5 Greenwich View Place
Docklands
E14 9NN

Place of Business

Unit 9 Horndon Industrial Estate

Station Road

West Horndon

CM13 3XL


Registered Number

10130290 (England and Wales)
LONDON PREFAB LTD
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets382,07848,825
82,07848,825
Current assets
Debtors541,666137,664
Cash at bank and on hand222,831403,969
764,497541,633
Creditors amounts falling due within one year(278,815)(229,363)
Net current assets (liabilities)485,682312,270
Total assets less current liabilities567,760361,095
Creditors amounts falling due after one year(69,715)-
Net assets498,045361,095
Capital and reserves
Called up share capital100100
Profit and loss account497,945360,995
Shareholders' funds498,045361,095
The financial statements were approved and authorised for issue by the Director on 31 January 2025, and are signed on its behalf by:
FORDHAM, Adam James
Director
Registered Company No. 10130290
LONDON PREFAB LTD
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Turnover policy
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.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Research and development
All research costs are expensed. Costs related to the development of products are capitalised when they meet the criteria stated in FRS 102, Section 18 Intangible assets other than Goodwill. All other development expenditure is recognised as an expense in the period in which it is incurred.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year00
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 May 2385,560
Additions59,177
At 30 April 24144,736
Depreciation and impairment
At 01 May 2336,735
Charge for year25,924
At 30 April 2462,658
Net book value
At 30 April 2482,078
At 30 April 2348,825