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REGISTERED NUMBER: SC120527 (Scotland)















LEWIS BUILDERS LIMITED

Financial Statements for the Year Ended 30 November 2024






LEWIS BUILDERS LIMITED (REGISTERED NUMBER: SC120527)






Contents of the Financial Statements
for the Year Ended 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LEWIS BUILDERS LIMITED

Company Information
for the Year Ended 30 November 2024







DIRECTORS: D Maclennan
M C Maclennan
J Macleod
A Campbell





REGISTERED OFFICE: Rigs Road
Stornoway
Isle of Lewis
Western Isles
HS1 2RF





REGISTERED NUMBER: SC120527 (Scotland)





ACCOUNTANTS: Mann Judd Gordon Ltd
Chartered Accountants
26 Lewis Street
Stornoway
Isle of Lewis
HS1 2JF

LEWIS BUILDERS LIMITED (REGISTERED NUMBER: SC120527)

Balance Sheet
30 November 2024

30.11.24 30.11.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 477,465 589,379

CURRENT ASSETS
Stocks 227,105 405,918
Debtors 5 529,995 1,010,891
Cash at bank and in hand 711,312 439,780
1,468,412 1,856,589
CREDITORS
Amounts falling due within one year 6 550,843 727,471
NET CURRENT ASSETS 917,569 1,129,118
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,395,034

1,718,497

CREDITORS
Amounts falling due after more than one
year

7

-

(134,278

)

PROVISIONS FOR LIABILITIES (119,366 ) (147,345 )
NET ASSETS 1,275,668 1,436,874

CAPITAL AND RESERVES
Called up share capital 8 2,500 2,500
Capital redemption reserve 9 2,500 2,500
Retained earnings 9 1,270,668 1,431,874
SHAREHOLDERS' FUNDS 1,275,668 1,436,874

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

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

LEWIS BUILDERS LIMITED (REGISTERED NUMBER: SC120527)

Balance Sheet - continued
30 November 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2025 and were signed on its behalf by:





M C Maclennan - Director


LEWIS BUILDERS LIMITED (REGISTERED NUMBER: SC120527)

Notes to the Financial Statements
for the Year Ended 30 November 2024

1. STATUTORY INFORMATION

Lewis Builders Limited is a private company, limited by shares , registered in Scotland. 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 (£1).

The financial statements are rounded to the nearest £1.

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.

Significant judgements and estimates
The areas of the accounts where significant judgements and estimates are used are as follows:

- Fixed assets - estimates are made of both the useful economic life of assets and of any residual value attached to those assets which in turn determines the depreciation rates and charges in the accounts.
- Work in progress - the company has developed internal controls to monitor each job in order to be able to calculate un-billed sales at each month-end.

Turnover
Turnover represents the value of invoiced sales of goods and services, excluding VAT, along with the movement in the value of work in progress at the year end compared with that of the previous year end.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% depreciation on reducing balance
Motor vehicles - 25% depreciation on reducing balance
Office and computer equipment - 25% depreciation on cost and 10% depreciation on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and 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.


LEWIS BUILDERS LIMITED (REGISTERED NUMBER: SC120527)

Notes to the Financial Statements - continued
for the Year Ended 30 November 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
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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 70 (2023 - 98 ) .

4. TANGIBLE FIXED ASSETS
Office
and
Plant and Motor computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2023 722,251 621,140 45,114 1,388,505
Additions 4,153 15,100 6,712 25,965
Disposals (126,257 ) (60,028 ) (23,594 ) (209,879 )
At 30 November 2024 600,147 576,212 28,232 1,204,591
DEPRECIATION
At 1 December 2023 381,917 376,665 40,544 799,126
Charge for year 40,551 56,721 1,920 99,192
Eliminated on disposal (105,162 ) (42,436 ) (23,594 ) (171,192 )
At 30 November 2024 317,306 390,950 18,870 727,126
NET BOOK VALUE
At 30 November 2024 282,841 185,262 9,362 477,465
At 30 November 2023 340,334 244,475 4,570 589,379

LEWIS BUILDERS LIMITED (REGISTERED NUMBER: SC120527)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 December 2023 247,227
Disposals (30,348 )
Transfer to ownership (130,455 )
At 30 November 2024 86,424
DEPRECIATION
At 1 December 2023 85,295
Charge for year 8,798
Eliminated on disposal (15,411 )
Transfer to ownership (51,687 )
At 30 November 2024 26,995
NET BOOK VALUE
At 30 November 2024 59,429
At 30 November 2023 161,932

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 428,958 880,647
Other debtors 101,037 130,244
529,995 1,010,891

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Hire purchase contracts 14,278 42,105
Trade creditors 235,844 340,111
Taxation and social security 296,221 310,168
Other creditors 4,500 35,087
550,843 727,471

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Hire purchase contracts - 14,278
Other creditors - 120,000
- 134,278

LEWIS BUILDERS LIMITED (REGISTERED NUMBER: SC120527)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
2,500 Ordinary £1 2,500 2,500

9. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1 December 2023 1,431,874 2,500 1,434,374
Profit for the year 167,383 167,383
Dividends (328,589 ) (328,589 )
At 30 November 2024 1,270,668 2,500 1,273,168

10. RELATED PARTY DISCLOSURES

On occasions the directors engage the company to carry out works on their behalf. All such works are invoiced on the normal commercial terms.

The Company leases trading premises from a related party - Lewis Builders Limited Retirement Benefits Scheme. The tenancy is the subject of a formal lease agreement, and rental charges of £35,845 (2023: £33,600) were paid to Lewis Builders Limited Retirement Benefits Scheme in the year. Rent is charged at market value. No amounts were owed to Lewis Builders Limited Retirement Benefits Scheme at the Balance Sheet Date.

During the year ended 30 November 2022, the Company sold a property used by the trade to a related party, MDSR Properties Limited, The Company also entered into a formal lease agreement, with rental charges of £41,740 (2023: £33,600). Rent is charged at market value. At the year-end date, MDSR Properties Limited owed the Company £67,959 (2023 - £95,075). This balance is included in debtors falling due within one year. There was no interest charged on the balance and no fixed repayment term in place.

At the previous year end the company, creditors falling due after one year included a balance of £120,000 due to D Maclennan and M Maclennan, controlling directors. This loan was repaid during the year under review. No interest was charged on the balance.

11. ULTIMATE CONTROLLING PARTY

The company is controlled by D Maclennan and M Maclennan, directors.