Registered number
NI642088
Lloyd & Cowan Ltd
Filleted Accounts
30 November 2024
Lloyd & Cowan Ltd
Registered number: NI642088
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 21,000 28,164
Investments 4 11,135 11,135
32,135 39,299
Current assets
Debtors 5 99,453 107,485
Cash at bank and in hand 113,023 89,992
212,476 197,477
Creditors: amounts falling due within one year 6 (145,029) (133,329)
Net current assets 67,447 64,148
Total assets less current liabilities 99,582 103,447
Creditors: amounts falling due after more than one year 7 (9,303) (23,314)
Net assets 90,279 80,133
Capital and reserves
Called up share capital 10 10
Profit and loss account 90,269 80,123
Shareholder's funds 90,279 80,133
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ciaran Conroy
Director
Approved by the board on 13 August 2025
Lloyd & Cowan Ltd
Notes to the Accounts
for the year ended 30 November 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles over 5 years
Office equipment over 5 years
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 10 10
3 Tangible fixed assets
Fixtures & fittings Motor vehicles Total
£ £ £
Cost
At 1 December 2023 4,303 35,000 39,303
At 30 November 2024 4,303 35,000 39,303
Depreciation
At 1 December 2023 4,139 7,000 11,139
Charge for the year 164 7,000 7,164
At 30 November 2024 4,303 14,000 18,303
Net book value
At 30 November 2024 - 21,000 21,000
At 30 November 2023 164 28,000 28,164
4 Investments
Other
investments
£
Cost
At 1 December 2023 11,135
At 30 November 2024 11,135
5 Debtors 2024 2023
£ £
Trade debtors 24,800 62,435
Directors loan 74,653 45,050
99,453 107,485
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,000 9,000
Obligations under finance lease and hire purchase contracts 6,430 6,430
Corporation tax 29,104 41,912
Other taxes and social security costs 43,239 30,225
Other creditors 57,256 45,762
145,029 133,329
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 3,170 10,871
Obligations under finance lease and hire purchase contracts 6,133 12,443
9,303 23,314
8 Other information
Lloyd & Cowan Ltd is a private company limited by shares and incorporated in Northern Ireland
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