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Company Registration No. NI039548 (Northern Ireland)
LC Homes LTD Unaudited accounts for the year ended 31 May 2024
LC Homes LTD Unaudited accounts Contents
Page
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LC Homes LTD Company Information for the year ended 31 May 2024
Directors
Mr C Lilburn Mr A Lilburn Mr D Currie
Secretary
Mr A Lilburn
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
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LC Homes LTD Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Inventories
315,000 
320,000 
Debtors
1,808 
1,692 
Cash at bank and in hand
1,364 
6,820 
318,172 
328,512 
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)
Capital and reserves
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
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LC Homes LTD Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
Inventories
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.
4
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
1,808 
1,692 
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 
Accruals
2,500 
1,750 
3,820,801 
3,866,815 
A registered charge has been made against the Company in respect of the land contained in work in progress.
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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 
£ 
£ 
Bank loans
15,677 
23,717 
7
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Mr C Lilburn
143,432 
- 
- 
143,432 
143,432 
- 
- 
143,432 
8
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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