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COMPANY REGISTRATION NUMBER: 12732349
LX2 SCAFFOLDING LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 July 2024
LX2 SCAFFOLDING LTD
STATEMENT OF FINANCIAL POSITION
31 July 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
3,525
12,260
CURRENT ASSETS
Debtors
6
7,087
8,762
Cash at bank and in hand
2,204
2,737
-------
--------
9,291
11,499
CREDITORS: amounts falling due within one year
7
( 7,845)
( 5,802)
-------
--------
NET CURRENT ASSETS
1,446
5,697
-------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
4,971
17,957
CREDITORS: amounts falling due after more than one year
8
( 4,405)
( 8,602)
-------
--------
NET ASSETS
566
9,355
-------
--------
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss account
564
9,353
----
-------
SHAREHOLDERS FUNDS
566
9,355
----
-------
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 year ending 31 July 2024 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 year 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 .
LX2 SCAFFOLDING LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 July 2024
These financial statements were approved by the board of directors and authorised for issue on 29 April 2025 , and are signed on behalf of the board by:
L D Esposito
Director
Company registration number: 12732349
LX2 SCAFFOLDING LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JULY 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 9 Royd Street, Thornton, Bradford, BD13 3PR, England.
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 on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of services supplied, exclusive of Value Added Tax.
Income tax
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Plant and machinery
-
20% straight line
Motor vehicles
-
25% straight line
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
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to Nil (2023: 2 ).
5. TANGIBLE ASSETS
Plant and machinery
Motor vehicles
Total
£
£
£
Cost
At 1 August 2023 and 31 July 2024
7,000
29,340
36,340
-------
--------
--------
Depreciation
At 1 August 2023
4,200
19,880
24,080
Charge for the year
1,400
7,335
8,735
-------
--------
--------
At 31 July 2024
5,600
27,215
32,815
-------
--------
--------
Carrying amount
At 31 July 2024
1,400
2,125
3,525
-------
--------
--------
At 31 July 2023
2,800
9,460
12,260
-------
--------
--------
6. DEBTORS
2024
2023
£
£
Other debtors
7,087
8,762
-------
-------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Corporation tax
2,226
255
Other creditors
5,619
5,547
-------
-------
7,845
5,802
-------
-------
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Other creditors
4,405
8,602
-------
-------