Company Registration No. NI039548 (Northern Ireland)
LC Homes LTD
Unaudited accounts
for the year ended 31 May 2024
LC Homes LTD
Unaudited accounts
Contents
LC Homes LTD
Company Information
for the year ended 31 May 2024
Directors
Mr C Lilburn
Mr A Lilburn
Mr D Currie
Company Number
NI039548 (Northern Ireland)
Registered Office
103 CULCAVEY ROAD
NEWPORT
HILLSBOROUGH
CO DOWN
BT26 6HH
Accountants
JMW
74 Ballantine Gardens
Lisburn
Co. Down
BT27 5FB
LC Homes LTD
Statement of financial position
as at 31 May 2024
Inventories
315,000
320,000
Cash at bank and in hand
1,364
6,820
Creditors: amounts falling due within one year
(3,820,801)
(3,866,815)
Net current liabilities
(3,502,629)
(3,538,303)
Total assets less current liabilities
(3,502,629)
(3,538,303)
Creditors: amounts falling due after more than one year
(15,677)
(23,717)
Net liabilities
(3,518,306)
(3,562,020)
Called up share capital
10,000
10,000
Profit and loss account
(3,528,306)
(3,572,020)
Shareholders' funds
(3,518,306)
(3,562,020)
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by
Mr D Currie
Director
Company Registration No. NI039548
LC Homes LTD
Notes to the Accounts
for the year ended 31 May 2024
LC Homes LTD is a private company, limited by shares, registered in Northern Ireland, registration number NI039548. The registered office is 103 CULCAVEY ROAD, NEWPORT, HILLSBOROUGH, CO DOWN, BT26 6HH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Stocks and work in progress (WIP) is valued based on the percentage completed and estimated costs for completion. Cost includes all purchases, cost of conversion and other costs to bring the WIP to completion.
Amounts falling due within one year
5
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
3,633,812
3,634,572
Trade creditors
13,297
57,175
Other creditors
27,750
29,876
Loans from directors
143,442
143,442
A registered charge has been made against the Company in respect of the land contained in work in progress.
LC Homes LTD
Notes to the Accounts
for the year ended 31 May 2024
6
Creditors: amounts falling due after more than one year
2024
2023
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).