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REGISTERED NUMBER: SC636329 (Scotland)
















Unaudited Financial Statements

for the Period 1 July 2023 to 30 November 2024

for

Lumac Construction Ltd

Lumac Construction Ltd (Registered number: SC636329)






Contents of the Financial Statements
for the Period 1 July 2023 to 30 November 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Lumac Construction Ltd

Company Information
for the Period 1 July 2023 to 30 November 2024







DIRECTOR: Andrew Lusk





SECRETARY: Mari Lusk





REGISTERED OFFICE: Unit 2 Southhook Road
Kilmarnock
Ayrshire
KA1 2NN





REGISTERED NUMBER: SC636329 (Scotland)





ACCOUNTANTS: Gillespie & Anderson
Chartered Accountants
Westburn Business Centre
McNee Road
Prestwick
KA9 2PB

Lumac Construction Ltd (Registered number: SC636329)

Balance Sheet
30 November 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 71,315 465,659
Cash at bank 1,084 5,224
72,399 470,883
CREDITORS
Amounts falling due within one year 5 57,715 436,107
NET CURRENT ASSETS 14,684 34,776
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,684

34,776

CREDITORS
Amounts falling due after more than one
year

6

-

21,576
NET ASSETS 14,684 13,200

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 14,683 13,199
SHAREHOLDERS' FUNDS 14,684 13,200

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

The members have not required the company to obtain an audit of its financial statements for the period ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 June 2025 and were signed by:





Andrew Lusk - Director


Lumac Construction Ltd (Registered number: SC636329)

Notes to the Financial Statements
for the Period 1 July 2023 to 30 November 2024

1. STATUTORY INFORMATION

Lumac Construction Ltd 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 (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
Steps are now being taken to conclude the company's affairs in an orderly manner and apply for striking off. Accordingly the accounts have been prepared on a break up basis.

Turnover/revenue recognition
Sales and work done comprise the fair value of the consideration received or receivable for the sale of goods and rendering of services in the ordinary course of the company's activities.Sales are presented, net of value-added tax, rebates and discounts.

The company recognises revenue when the amount of revenue and related cost can be reliably measured, it is probable that the collectability of the related receivables is reasonably assured and when the specific criteria for each of the company's activities are met.

For incomplete contracts an assessment is made of the extent to which revenue has been earned. This assessment takes into account the nature of the contract, its stage of completion and relevant contract terms. These monies are included as amounts due on contracts.

Taxation
Taxation for the period 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.

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 period 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.

Lumac Construction Ltd (Registered number: SC636329)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 30 November 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Where assets are financed by leasing agreements that give rights approximating to ownership (finance leases), the assets are treated as if they had been purchased outright. The amount capitalised is the present value of the minimum lease payments payable over the term of the lease. The corresponding leasing commitments are shown as amounts payable to the lessor. Depreciation on the relevant assets is charged to the profit and loss account over the shorter of estimated useful economic life and the period of the lease.

Lease payments are analysed between capital and interest components so that the interest element of the payment is charged to the profit and loss account over the period of the lease and is calculated so that it represents a constant proportion of the balance of capital repayments outstanding. The capital part reduces the amounts payable to the lessor.

All other leases are treated as operating leases. Their annual rentals are charged to the profit and loss account on a straight line basis over the terms of the lease.

Cash and cash equivalents
Cash and cash equivalents comprise cash held by the company and short term bank deposits with an original maturity of three months or less from inception and are subject to insignificant risk of changes in value.

Financial instruments
Financial assets and liabilities are recognised when the company becomes a party to the contractual provisions of the instrument and are classified in accordance with their underlying economic reality.

The company has two main categories of financial instruments, which are loans and other receivables and other financial liabilities:

Loans and other receivables
Loans and other receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. Upon recognition, these assets are measured at fair value less directly related transaction expenses. In successive periods these are measured at amortised cost, and any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value less any allowance for credit losses.

Other financial liabilities
Other financial liabilities are recognised initially at fair value, net of transaction costs incurred. In successive periods these are measured at amortised cost. Any differences between acquisition cost and redemption value is accounted for over the borrowing period by using the effective interest method. If transaction costs are immaterial and the credit period is short, amortised cost is equal to the nominal value.

Impairment of financial instruments
A provision for impairment is established when there is objective evidence that, as a result of one or more events that occurred after the initial recognition, the estimated future cash flows have been impacted.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2023 - 1 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by related parties 66,220 363,606
Amounts recoverable on contract 4,384 94,384
Other debtors 711 7,669
71,315 465,659

Lumac Construction Ltd (Registered number: SC636329)

Notes to the Financial Statements - continued
for the Period 1 July 2023 to 30 November 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 9,973
Trade creditors 33,069 50,934
Amounts owed to related parties 10,000 296,049
Taxation and social security 349 1,696
Other creditors 14,297 77,455
57,715 436,107

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 21,576

7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 31,549

The bounce back loan is secured and repayable by 60 equal monthly instalments. Interest is chargeable at a commercial rate of interest.

8. RELATED PARTY DISCLOSURES

During the period the company undertook work to a net value of £185,146 (2023: £90,000) with Craigie Property Investments Ltd. Repayments were made by Craigie Property Investments Ltd of £363,607 (2023: £78,675). Mr & Mrs A Lusk own the entire share capital of Craigie Property Investments Ltd between them. As at 30 November 2024 the amount outstanding and due by Craigie Property Investments Ltd was £nil (2023: £363,607).

During the period, the company undertook transactions to a net value of £344,069 (2023: £nil) with AL Plumbing & Heating Ltd. Mr & Mrs A Lusk own the entire share capital of Lumax Homes (Holdings) Ltd which in turn owns the entire share capital of AL Plumbing & Heating Ltd. As at 30 November 2024, the amount outstanding and due to Lumac Construction Ltd was £68,020 (2023: £276,409).

Previously the company was advanced monies from Lumax Homes Ltd. Mr & Mrs A Lusk own the entire share capital of Lumax Homes (Holdings) Ltd, which in turn owns the entire share capital of Lumax Homes Ltd. As at 30 November 2024, the amount outstanding and due by Lumac Construction Ltd was £10,000 (2023: £10,000).

Previously the company was advanced monies from Lusk Construction Ltd. Mr & Mrs A Lusk own the entire share capital of Lumax Homes (Holdings) Ltd which in turn owns the entire share capital of Lusk Construction Ltd. As at 30 November 2024, the amount outstanding and due by Lusk Construction Ltd was £nil (2023: £10,000).

9. ULTIMATE CONTROLLING PARTY

The controlling party is Andrew Lusk.