| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 SEPTEMBER 2024 |
| FOR |
| LOWBURY CONSTRUCTION LIMITED |
| REGISTERED NUMBER: |
| 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: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Douglas Bank House |
| Wigan Lane |
| Wigan |
| Lancashire |
| WN1 2TB |
| BANKERS: |
| 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 |
| Investment property | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 were approved by the Board of Directors and authorised for issue on |
| 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 |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Freehold property | - |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| 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 |
| 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 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 30 September 2024 |
| DEPRECIATION |
| At 1 October 2023 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) |
| At 30 September 2024 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| 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 |
| NET BOOK VALUE |
| At 30 September 2024 |
| At 30 September 2023 |
| 6. | DEBTORS |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts owed by group undertakings |
| Amounts recoverable on contract |
| Other debtors |
| 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 |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Hire purchase contracts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Hire purchase contracts |
| 9. | PROVISIONS FOR LIABILITIES |
| 2024 | 2023 |
| as restated |
| £ | £ |
| Deferred tax | 40,336 | 15,723 |
| Design & build provision | 244,632 | 328,373 |
| Design & |
| Deferred | Build |
| tax | Provision |
| £ | £ |
| Balance at 1 October 2023 |
| Charge/(credit) to Income Statement during year | ( |
) |
| Balance at 30 September 2024 |
| 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: |
| 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. |
| Chartered Accountants |
| Douglas Bank House |
| Wigan Lane |
| INDEPENDENT CHARTERED CERTIFIED ACCOUNTANTS' REVIEW REPORT TO THE DIRECTORS OF |
| LOWBURY CONSTRUCTION LIMITED |
| Wigan |
| Lancashire |
| WN1 2TB |