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REGISTERED NUMBER: 04751609 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Lowe Engineering Limited

Lowe Engineering Limited (Registered number: 04751609)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Accountants' Report 6

Lowe Engineering Limited

Company Information
for the year ended 30 June 2024







DIRECTORS: G Walker
A Lister





SECRETARY: G Walker





REGISTERED OFFICE: Unit 3B
Kitson Road
Leeds
West Yorkshire
LS10 1NT





REGISTERED NUMBER: 04751609 (England and Wales)





ACCOUNTANTS: Beaumonts
8 Navigation Court
Calder Park
Wakefield
West Yorkshire
WF2 7BJ

Lowe Engineering Limited (Registered number: 04751609)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 10,499 14,013
10,499 14,013

CURRENT ASSETS
Stocks 111,251 97,297
Debtors 6 304,517 257,795
Cash at bank and in hand 244,574 142,044
660,342 497,136
CREDITORS
Amounts falling due within one year 7 282,043 172,833
NET CURRENT ASSETS 378,299 324,303
TOTAL ASSETS LESS CURRENT
LIABILITIES

388,798

338,316

PROVISIONS FOR LIABILITIES 2,505 -
NET ASSETS 386,293 338,316

CAPITAL AND RESERVES
Called up share capital 80,000 80,000
Capital redemption reserve 250,000 250,000
Retained earnings 56,293 8,316
SHAREHOLDERS' FUNDS 386,293 338,316

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 February 2025 and were signed on its behalf by:





G Walker - Director


Lowe Engineering Limited (Registered number: 04751609)

Notes to the Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Lowe Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover relates to the supply of integrated packages for waste water, process water and process gas industries. The income is measured at the fair value of the consideration received or receivable, excluding discounts, rebates value added tax and other sales taxes other than on certain long term contracts where the estimated sales value of work performed in the year is included.

Goodwill
Goodwill is included at cost and amortised through the profit and loss account over the directors' estimate of its useful life of 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Over the term of the lease
Plant and machinery - 10% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Work in progress and finished goods include labour and attributable overheads.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Lowe Engineering Limited (Registered number: 04751609)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Long term contracts
Long term contracts are those which are material to the activity of the period. Attributable profit is recognised once the outcome of a long term contract can be assessed with reasonable certainty. Immediate provision is made for all foreseeable losses if a contract is assessed as unprofitable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2023
and 30 June 2024 111,354
AMORTISATION
At 1 July 2023
and 30 June 2024 111,354
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 July 2023
and 30 June 2024 34,821 57,896 12,131 28,952 133,800
DEPRECIATION
At 1 July 2023 34,821 46,925 12,131 25,910 119,787
Charge for year - 1,797 - 1,717 3,514
At 30 June 2024 34,821 48,722 12,131 27,627 123,301
NET BOOK VALUE
At 30 June 2024 - 9,174 - 1,325 10,499
At 30 June 2023 - 10,971 - 3,042 14,013

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 221,519 194,868
Amounts recoverable on contract 34,518 -
Other debtors 48,480 62,927
304,517 257,795

Lowe Engineering Limited (Registered number: 04751609)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 162 21
Trade creditors 164,444 91,495
Taxation and social security 45,108 30,135
Other creditors 72,329 51,182
282,043 172,833

8. OTHER FINANCIAL COMMITMENTS

The total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £62,000 (2023 - £93,000).

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 30 June 2024 the directors owed the company £1,582 (2023 - £1,734) in respect of their loan accounts. These balances are included within other debtors.

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Lowe Engineering Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lowe Engineering Limited for the year ended 30 June 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Lowe Engineering Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lowe Engineering Limited and state those matters that we have agreed to state to the Board of Directors of Lowe Engineering Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lowe Engineering Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lowe Engineering Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lowe Engineering Limited. You consider that Lowe Engineering Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lowe Engineering Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Beaumonts
8 Navigation Court
Calder Park
Wakefield
West Yorkshire
WF2 7BJ


10 February 2025