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REGISTERED NUMBER: 06856407 (England and Wales)









LLOYDS CONTRACTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024






LLOYDS CONTRACTS LIMITED (REGISTERED NUMBER: 06856407)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LLOYDS CONTRACTS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mrs R A Gent Eggett
J M Mccourt





SECRETARY: Mrs R A Gent Eggett





REGISTERED OFFICE: Unit A3 Melyn Mair Business Centre
Lamby Industrial Park
Wentloog Avenue
Cardiff
CF3 2EX





REGISTERED NUMBER: 06856407 (England and Wales)






LLOYDS CONTRACTS LIMITED (REGISTERED NUMBER: 06856407)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 52,814 68,619

CURRENT ASSETS
Stocks 34,481 64,974
Debtors 5 403,008 431,747
Cash at bank and in hand 1,541,418 1,274,606
1,978,907 1,771,327
CREDITORS
Amounts falling due within one year 6 269,115 306,354
NET CURRENT ASSETS 1,709,792 1,464,973
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,762,606

1,533,592

PROVISIONS FOR LIABILITIES 11,900 14,815
NET ASSETS 1,750,706 1,518,777

CAPITAL AND RESERVES
Called up share capital 90 90
Retained earnings 1,750,616 1,518,687
SHAREHOLDERS' FUNDS 1,750,706 1,518,777

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

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

LLOYDS CONTRACTS LIMITED (REGISTERED NUMBER: 06856407)

BALANCE SHEET - continued
31 AUGUST 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 27 May 2025 and were signed on its behalf by:





Mrs R A Gent Eggett - Director


LLOYDS CONTRACTS LIMITED (REGISTERED NUMBER: 06856407)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Lloyds Contracts 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.

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making his assessment, the directors have reviewed the balance sheet, the likely future cashflows of the business and has considered the facilities that are available to the company along with their continued support.

At the date of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover is measured at fair value of the consideration received or receivable net of VAT and discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of services:

Turnover is recognised at the fair value of the consideration received or receivable for the services provided to the customer during the normal course of business. Turnover is recognised at the point when all benefits of the services provided are transferred to the customer.

LLOYDS CONTRACTS LIMITED (REGISTERED NUMBER: 06856407)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives:
Plant and machinery - 20% reducing balance
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 20% reducing balance

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell. This is after making due allowance for obsolete and slow moving items.

Work in progress is valued on the basis of direct costs. Provisions are made for any foreseeable losses where appropriate. No element of profit is included in the value of work in progress.
The attributable profit on long term contracts is recognised once their outcome can be assessed with reasonable certainty. The profit recognised reflects the proportion of work completed to date on the project.

Foreign currencies
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

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.

LLOYDS CONTRACTS LIMITED (REGISTERED NUMBER: 06856407)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

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.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliable estimated.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

LLOYDS CONTRACTS LIMITED (REGISTERED NUMBER: 06856407)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets are liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

3. EMPLOYEES AND DIRECTORS

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

LLOYDS CONTRACTS LIMITED (REGISTERED NUMBER: 06856407)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 7,695 290 114,579 8,943 131,507
Additions - - 17,500 - 17,500
Disposals - (290 ) (16,990 ) (1,091 ) (18,371 )
At 31 August 2024 7,695 - 115,089 7,852 130,636
DEPRECIATION
At 1 September 2023 5,317 290 51,131 6,150 62,888
Charge for year 476 - 25,546 558 26,580
Eliminated on disposal - (290 ) (10,265 ) (1,091 ) (11,646 )
At 31 August 2024 5,793 - 66,412 5,617 77,822
NET BOOK VALUE
At 31 August 2024 1,902 - 48,677 2,235 52,814
At 31 August 2023 2,378 - 63,448 2,793 68,619

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 382,860 405,770
Other debtors 20,148 25,977
403,008 431,747

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 59,414 134,943
Taxation and social security 146,347 127,675
Other creditors 63,354 43,736
269,115 306,354

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Between one and five years 21,500 21,500

LLOYDS CONTRACTS LIMITED (REGISTERED NUMBER: 06856407)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

8. TRANSACTIONS WITH DIRECTORS

Included in creditors amounts falling due within one year are amounts owed to the directors of £49,874 (2023: £30,069).

Amounts owed to directors are interest-free, at fair value and repayable on demand.

9. RELATED PARTY DISCLOSURES

As at 31 August 2024 an amount of £19,963 was owed to the company from Ritetrack (Cardiff) Ltd (2023: £25,977), a company under common control.

Included in the profit and loss of the company is an amount of £630 (2023: £1,117) to Ritetrack (Cardiff) Limited in respect of sales together with an amount included in management charges income of £7,511 (2023: £12,452).

All amounts due from the company are interest free and considered repayable on demand.