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REGISTERED NUMBER: 01226039 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

LOWBURY CONSTRUCTION LIMITED

LOWBURY CONSTRUCTION LIMITED (REGISTERED NUMBER: 01226039)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Statement of Directors' Responsibilities 9

Independent Chartered Certified Accountants' Review
Report

10


LOWBURY CONSTRUCTION LIMITED

COMPANY INFORMATION
for the Year Ended 30 September 2024







DIRECTORS: P A Flynn
Mrs M L Flynn



SECRETARY: P A Flynn



REGISTERED OFFICE: 658-662 Liverpool Road
Irlam
Manchester
Lancashire
M44 5AD



REGISTERED NUMBER: 01226039 (England and Wales)



ACCOUNTANTS: Fairhurst Accountants Ltd
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



BANKERS: Barclays Bank plc
PO Box 144
1st Floor
57 Victoria Square
Bolton
BL1 1FH

LOWBURY CONSTRUCTION LIMITED (REGISTERED NUMBER: 01226039)

STATEMENT OF FINANCIAL POSITION
30 September 2024

2024 2023
as restated
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 203,917 137,324
Investment property 5 120,000 120,000
323,917 257,324

CURRENT ASSETS
Stocks 87,500 87,500
Debtors 6 1,553,470 3,059,275
Cash at bank and in hand 1,800,706 926,022
3,441,676 4,072,797
CREDITORS
Amounts falling due within one year 7 1,250,075 1,328,199
NET CURRENT ASSETS 2,191,601 2,744,598
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,515,518

3,001,922

CREDITORS
Amounts falling due after more than one year 8 (48,425 ) (11,211 )

PROVISIONS FOR LIABILITIES 9 (284,968 ) (344,096 )
NET ASSETS 2,182,125 2,646,615

CAPITAL AND RESERVES
Called up share capital 25,000 25,000
Retained earnings 2,157,125 2,621,615
SHAREHOLDERS' FUNDS 2,182,125 2,646,615

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

LOWBURY CONSTRUCTION LIMITED (REGISTERED NUMBER: 01226039)

STATEMENT OF FINANCIAL POSITION - continued
30 September 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 June 2025 and were signed on its behalf by:





P A Flynn - Director


LOWBURY CONSTRUCTION LIMITED (REGISTERED NUMBER: 01226039)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Lowbury Construction 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Profit is recognised by including in the profit and loss account turnover and related costs as contract activity progresses.

Turnover is based on an agreed valuation of work completed at the end of each accounting period and costs are allocated to contracts as they are incurred, taking into account any foreseeable losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 4% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as trade and other accounts receivable and payable. Basic financial instruments are recognised at cost.


LOWBURY CONSTRUCTION LIMITED (REGISTERED NUMBER: 01226039)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase agreements
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 two pension schemes a defined contribution pension scheme for staff, and discretionary contributions for directors. 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 19 (2023 - 20 ) .

LOWBURY CONSTRUCTION LIMITED (REGISTERED NUMBER: 01226039)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 October 2023 278,999 350,705 629,704
Additions - 134,207 134,207
Disposals - (58,695 ) (58,695 )
At 30 September 2024 278,999 426,217 705,216
DEPRECIATION
At 1 October 2023 221,971 270,409 492,380
Charge for year 9,808 33,204 43,012
Eliminated on disposal - (34,093 ) (34,093 )
At 30 September 2024 231,779 269,520 501,299
NET BOOK VALUE
At 30 September 2024 47,220 156,697 203,917
At 30 September 2023 57,028 80,296 137,324

The net book value of tangible fixed assets includes £ 126,024 (2023 - £ 45,275 ) in respect of assets held under hire purchase contracts.

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023
and 30 September 2024 120,000
NET BOOK VALUE
At 30 September 2024 120,000
At 30 September 2023 120,000

6. DEBTORS
2024 2023
as restated
£    £   
Amounts falling due within one year:
Trade debtors 503,368 848,258
Amounts owed by group undertakings - 883,732
Amounts recoverable on contract 784,118 776,219
Other debtors 26,965 124,076
1,314,451 2,632,285

LOWBURY CONSTRUCTION LIMITED (REGISTERED NUMBER: 01226039)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

6. DEBTORS - continued
2024 2023
as restated
£    £   
Amounts falling due after more than one year:
Trade debtors 239,019 426,990

Aggregate amounts 1,553,470 3,059,275

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
as restated
£    £   
Hire purchase contracts 32,167 20,180
Trade creditors 261,740 515,499
Amounts owed to group undertakings 130,299 602
Taxation and social security 314,198 180,204
Other creditors 511,671 611,714
1,250,075 1,328,199

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
as restated
£    £   
Hire purchase contracts 48,425 11,211

9. PROVISIONS FOR LIABILITIES
2024 2023
as restated
£    £   
Deferred tax 40,336 15,723
Design & build provision 244,632 328,373
284,968 344,096

Design &
Deferred Build
tax Provision
£    £   
Balance at 1 October 2023 15,723 328,373
Charge/(credit) to Income Statement during year 24,613 (83,741 )
Balance at 30 September 2024 40,336 244,632

The design and build provision included in the financial statements represents estimated obligations for claims under the terms of the contracts.

LOWBURY CONSTRUCTION LIMITED (REGISTERED NUMBER: 01226039)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2024

10. ULTIMATE CONTROLLING PARTY

By virtue of his shareholding in the parent company, PJ Flynn Management Services Limited, Mr P A Flynn controls the company.

LOWBURY CONSTRUCTION LIMITED (REGISTERED NUMBER: 01226039)

STATEMENT OF DIRECTORS' RESPONSIBILITIES
for the Year Ended 30 September 2024


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


ON BEHALF OF THE BOARD:





P A Flynn - Director

25 June 2025

INDEPENDENT CHARTERED CERTIFIED ACCOUNTANTS' REVIEW REPORT TO THE DIRECTORS OF
LOWBURY CONSTRUCTION LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

We have reviewed the financial statements of Lowbury Construction Limited for the year ended 30 September 2024, which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Directors' responsibility for the financial statements
As explained more fully in the Statement of Directors' Responsibilities set out on page twelve, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants' responsibility
Our responsibility is to express a conclusion on the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), 'Engagements to review historical financial statements' and ICAEW Technical Release TECH 09/13AAF (Revised) 'Assurance review engagements on historical financial statements'. ISRE 2400 (Revised) requires us to conclude whether anything has come to our attention that causes us to believe that the financial statements, taken as a whole, are not prepared, in all material respects, in accordance with United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). ISRE 2400 (Revised) also requires us to comply with the ICAEW Code of Ethics and the FRC's Ethical Standard, as applicable.

Scope of the assurance review
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed additional procedures, primarily consisting of making enquiries of management and others within the entity, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK). Accordingly, we do not express an audit opinion on these financial statements.

Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

- so as to give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended;
- in accordance with United Kingdom Generally Accepted Accounting Practice; and
- in accordance with the requirements of the Companies Act 2006.

Use of our report
This report is made solely to the company's directors, as a body, in accordance with our terms of engagement. Our review has been undertaken so that we might state to the directors those matters that we have agreed with them in a reviewer's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our work, for this report, or for the conclusions we have formed.




Fairhurst Accountants Ltd
Chartered Accountants
Douglas Bank House
Wigan Lane

INDEPENDENT CHARTERED CERTIFIED ACCOUNTANTS' REVIEW REPORT TO THE DIRECTORS OF
LOWBURY CONSTRUCTION LIMITED

Wigan
Lancashire
WN1 2TB


25 June 2025