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COMPANY REGISTRATION NUMBER: 01516850
LINLEY'S BUILDERS (LEEDS) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
25 December 2023
LINLEY'S BUILDERS (LEEDS) LIMITED
FINANCIAL STATEMENTS
PERIOD FROM 28 DECEMBER 2022 TO 25 DECEMBER 2023
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
LINLEY'S BUILDERS (LEEDS) LIMITED
STATEMENT OF FINANCIAL POSITION
25 December 2023
25 Dec 23
27 Dec 22
Note
£
£
£
FIXED ASSETS
Tangible assets
5
7,590
15,178
CURRENT ASSETS
Stocks
418,001
430,963
Debtors
6
417,506
385,998
Cash at bank and in hand
19,444
23,606
---------
---------
854,951
840,567
CREDITORS: amounts falling due within one year
7
( 797,501)
( 854,766)
---------
---------
NET CURRENT ASSETS/(LIABILITIES)
57,450
( 14,199)
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
65,040
979
CREDITORS: amounts falling due after more than one year
8
( 13,344)
( 23,258)
--------
--------
NET ASSETS/(LIABILITIES)
51,696
( 22,279)
--------
--------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
51,596
( 22,379)
--------
--------
SHAREHOLDERS FUNDS/(DEFICIT)
51,696
( 22,279)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 25 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
LINLEY'S BUILDERS (LEEDS) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
25 December 2023
These financial statements were approved by the board of directors and authorised for issue on 24 March 2025 , and are signed on behalf of the board by:
J Linley
Director
Company registration number: 01516850
LINLEY'S BUILDERS (LEEDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 28 DECEMBER 2022 TO 25 DECEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Havercroft, Chapel Hill, Kearby, Wetherby, LS22 4BU.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared under the historical cost convention. The financial statements have been prepared on the going concern basis. The directors consider the going concern basis to be appropriate and have confirmed their ongoing support. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation to date.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Motor vehicles
-
25% straight line
Fixtures & fittings
-
15 % straight line
Stocks
Stocks are valued at the lower of cost and net realisable value.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 3 (2022: 2 ).
5. TANGIBLE ASSETS
Equipment
Motor vehicles
Fixtures and fittings
Total
£
£
£
£
Cost
At 28 December 2022 and 25 December 2023
4,709
37,820
413
42,942
-------
--------
----
--------
Depreciation
At 28 December 2022
4,531
22,820
413
27,764
Charge for the period
88
7,500
7,588
-------
--------
----
--------
At 25 December 2023
4,619
30,320
413
35,352
-------
--------
----
--------
Carrying amount
At 25 December 2023
90
7,500
7,590
-------
--------
----
--------
At 27 December 2022
178
15,000
15,178
-------
--------
----
--------
6. DEBTORS
25 Dec 23
27 Dec 22
£
£
Trade debtors
397,506
365,998
Other debtors
20,000
20,000
---------
---------
417,506
385,998
---------
---------
7. CREDITORS: amounts falling due within one year
25 Dec 23
27 Dec 22
£
£
Bank loans and overdrafts
10,000
10,010
Trade creditors
63,378
87,398
Social security and other taxes
213,803
222,305
Other creditors
510,320
535,053
---------
---------
797,501
854,766
---------
---------
8. CREDITORS: amounts falling due after more than one year
25 Dec 23
27 Dec 22
£
£
Bank loans and overdrafts
13,344
23,258
--------
--------