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REGISTERED NUMBER: 10543241 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

Lilburn & Elliott Construction Limited

Lilburn & Elliott Construction Limited (Registered number: 10543241)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


Lilburn & Elliott Construction Limited

COMPANY INFORMATION
for the year ended 31 December 2024







Directors: D J Lilburn
N A Elliott





Registered office: Unit 8E Torr View
Torr Quarry Industrial estate
East Allington
Totnes
Devon
TQ9 7QQ





Business address: Unit 8E Torr View
Torr Quarry Industrial Estate
East Allington
Devon
TQ9 7QQ





Registered number: 10543241 (England and Wales)





Accountants: Websters
129 North Hill
Plymouth
Devon
PL4 8JY

Lilburn & Elliott Construction Limited (Registered number: 10543241)

BALANCE SHEET
31 December 2024

2024 2023
Notes £    £    £   
Fixed assets
Tangible assets 4 150,202 155,058

Current assets
Stocks 172,414 166,259
Debtors 5 233,659 485,477
Cash at bank and in hand 434,074 205,731
840,147 857,467
Creditors
Amounts falling due within one year 6 474,152 417,627
Net current assets 365,995 439,840
Total assets less current liabilities 516,197 594,898

Creditors
Amounts falling due after more than one
year

7

(55,254

)

(61,833

)

Provisions for liabilities 9 (29,000 ) (38,700 )
Net assets 431,943 494,365

Capital and reserves
Called up share capital 10 4 4
Retained earnings 431,939 494,361
Shareholders' funds 431,943 494,365

Lilburn & Elliott Construction Limited (Registered number: 10543241)

BALANCE SHEET - continued
31 December 2024


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

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

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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 July 2025 and were signed on its behalf by:




N A Elliott - Director



D J Lilburn - Director


Lilburn & Elliott Construction Limited (Registered number: 10543241)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2024

1. STATUTORY INFORMATION

Lilburn & Elliott Construction Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, business address and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration receivable, net of discounts and value added taxes. Turnover includes revenue earned from construction services. Turnover from the rendering of services is recognised by the reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. Work in progress is recognised at cost plus attributable profit where long term contracts are involved.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.


Lilburn & Elliott Construction Limited (Registered number: 10543241)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Tangible fixed assets aquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors. Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

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.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 24 ) .

Lilburn & Elliott Construction Limited (Registered number: 10543241)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Leasehold Plant and and Motor
improvements machinery fittings vehicles Totals
£    £    £    £    £   
Cost
At 1 January 2024 25,000 82,800 19,652 202,305 329,757
Additions - - 2,343 25,220 27,563
At 31 December 2024 25,000 82,800 21,995 227,525 357,320
Depreciation
At 1 January 2024 - 53,612 8,385 112,702 174,699
Charge for year - 7,296 2,722 22,401 32,419
At 31 December 2024 - 60,908 11,107 135,103 207,118
Net book value
At 31 December 2024 25,000 21,892 10,888 92,422 150,202
At 31 December 2023 25,000 29,188 11,267 89,603 155,058

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 127,603 282,314
Amounts owed by group undertakings 1,559 -
Other debtors 104,497 203,163
233,659 485,477

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 28,178 23,212
Trade creditors 150,206 78,105
Amounts owed to group undertakings 66,420 86,958
Taxation and social security 94,709 55,612
Other creditors 134,639 173,740
474,152 417,627

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 55,254 61,833

Lilburn & Elliott Construction Limited (Registered number: 10543241)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 83,432 85,045

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 29,000 38,700

Deferred
tax
£   
Balance at 1 January 2024 38,700
Provided during year (9,700 )
Balance at 31 December 2024 29,000

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary A shares £1 2 2
2 Ordinary B shares £1 2 2
4 4

11. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £66,420 to Seacroft Investments Ltd and the company was owed £1,559 by Prodek SW Ltd.

The company also rents property from Seacroft Investments Ltd and during the year paid £22,913 for rent.

Seacroft Investments Ltd is the holding company. Prodek SW Ltd is a company wholly owned by seacroft investments Ltd. No interest is charged on outstanding sums and all amounts are repayable on demand.

12. ULTIMATE CONTROLLING PARTY

The company is a 100% subsidiary of Seacroft Investments Ltd, a company registered in England and Wales, which in turn is wholly owned by D J Lilburn, N A Elliott and their wives, Mrs R Lilburn and Mrs T Elliott.