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REGISTERED NUMBER: 08964184 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

LOFTUS CONSTRUCTION SOLUTIONS LIMITED

LOFTUS CONSTRUCTION SOLUTIONS LIMITED (REGISTERED NUMBER: 08964184)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOFTUS CONSTRUCTION SOLUTIONS LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: P J Loftus
Mrs R G Loftus
P M Loftus





SECRETARY: Mrs R G Loftus





REGISTERED OFFICE: Arquen House
4-6 Spicer Street
St. Albans
Hertfordshire
AL3 4PQ





REGISTERED NUMBER: 08964184 (England and Wales)





ACCOUNTANTS: Lovetts Accountants Limited
Bridge House
25 Fiddlebridge Lane
Hatfield
Hertfordshire
AL10 0SP

LOFTUS CONSTRUCTION SOLUTIONS LIMITED (REGISTERED NUMBER: 08964184)

BALANCE SHEET
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,000
Property, plant and equipment 5 347,695 310,433
347,695 311,433

CURRENT ASSETS
Debtors 6 727,112 2,225,922
Cash at bank 1,953,729 341,623
2,680,841 2,567,545
CREDITORS
Amounts falling due within one year 7 1,081,218 1,072,574
NET CURRENT ASSETS 1,599,623 1,494,971
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,947,318

1,806,404

CREDITORS
Amounts falling due after more than one
year

8

195,721

191,222
NET ASSETS 1,751,597 1,615,182

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,751,497 1,615,082
SHAREHOLDERS' FUNDS 1,751,597 1,615,182

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

LOFTUS CONSTRUCTION SOLUTIONS LIMITED (REGISTERED NUMBER: 08964184)

BALANCE SHEET - continued
31 March 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:





P J Loftus - Director


LOFTUS CONSTRUCTION SOLUTIONS LIMITED (REGISTERED NUMBER: 08964184)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Loftus Construction Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

LOFTUS CONSTRUCTION SOLUTIONS LIMITED (REGISTERED NUMBER: 08964184)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 10,000
AMORTISATION
At 1 April 2023 9,000
Amortisation for year 1,000
At 31 March 2024 10,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 1,000

LOFTUS CONSTRUCTION SOLUTIONS LIMITED (REGISTERED NUMBER: 08964184)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 56,198 1,500 500,555 23,600 581,853
Additions - - 140,841 - 140,841
At 31 March 2024 56,198 1,500 641,396 23,600 722,694
DEPRECIATION
At 1 April 2023 56,198 1,000 195,472 18,750 271,420
Charge for year - 300 99,953 3,326 103,579
At 31 March 2024 56,198 1,300 295,425 22,076 374,999
NET BOOK VALUE
At 31 March 2024 - 200 345,971 1,524 347,695
At 31 March 2023 - 500 305,083 4,850 310,433

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023 308,598
Additions 118,091
At 31 March 2024 426,689
DEPRECIATION
At 1 April 2023 49,459
Charge for year 76,639
At 31 March 2024 126,098
NET BOOK VALUE
At 31 March 2024 300,591
At 31 March 2023 259,139

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 390,777 903,204
Other debtors 336,335 1,322,718
727,112 2,225,922

LOFTUS CONSTRUCTION SOLUTIONS LIMITED (REGISTERED NUMBER: 08964184)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 9,600 9,600
Hire purchase contracts 84,651 57,371
Trade creditors 393,969 429,100
Taxation and social security 71,250 147,376
Other creditors 521,748 429,127
1,081,218 1,072,574

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 11,200 20,800
Hire purchase contracts 184,521 170,422
195,721 191,222

9. ULTIMATE CONTROLLING PARTY

The controlling party is P J Loftus.