James Loftus Construction Ltd - Filleted accounts

Registered number

12439538

James Loftus Construction Ltd

Filleted Accounts

30 April 2025

James Loftus Construction Ltd
Registered number:		12439538
Balance Sheet
as at 30 April 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		55,386			2,787

Current assets
Stocks		100			-
Debtors	4	76,637			94,732
Cash at bank and in hand		34,664			23,044
		111,401			117,776

Creditors: amounts falling due within one year	5	(58,013)			(10,200)

Net current assets			53,388			107,576

Total assets less current liabilities			108,774			110,363


Provisions for liabilities			(10,523)			(697)


Net assets			98,251			109,666

Capital and reserves
Called up share capital			2			2
Profit and loss account			98,249			109,664

Shareholders' funds			98,251			109,666

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their 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.




Mr J Loftus
Director
Approved by the board on 23 August 2025

James Loftus Construction Ltd
Notes to the Accounts
for the period from 1 February 2024 to 30 April 2025


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:

	Plant and equipment	25% reducing balance
	Motor vehicles	25% 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.

	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.

	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.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			2		2


3	Tangible fixed assets
		Plant and equipment		Motor vehicles		Total
£			£		£
	Cost
	At 1 February 2024	319		7,000		7,319
	Additions	2,500		68,700		71,200
	Disposals	(319)		-		(319)
	At 30 April 2025	2,500		75,700		78,200

	Depreciation
	At 1 February 2024	180		4,352		4,532
	Charge for the period	625		17,837		18,462
	On disposals	(180)		-		(180)
	At 30 April 2025	625		22,189		22,814

	Net book value
	At 30 April 2025	1,875		53,511		55,386
	At 31 January 2024	139		2,648		2,787


4	Debtors			2025		2024
£					£

	Trade debtors			73,095		7,001
	Other debtors			3,542		87,731
				76,637		94,732


5	Creditors: amounts falling due within one year			2025		2024
£					£

	Trade creditors			18,065		-
	Taxation and social security costs			3,192		8,244
	Other creditors			36,756		1,956
				58,013		10,200


6	Related party transactions

	Included in other creditors is a loan of £29,000 (2024 - £83,729 in other debtors) due to/from Loftus Carpentry Ltd a company previously under the control of the director. Included in other debtors are loans of £2,093 (2024 - £4,000) due from Loftus Plastering and Rendering Ltd and £1,000 (2024 - £nil) due from Loftus Groundworks Ltd, companies under the control of the director.


7	Other information

	James Loftus Construction Ltd is a private company limited by shares and incorporated in England. Its registered office is:
	26 The Fairway
	Braunton
	Devon
	EX33 1DZ

	The company changed its name from Loftus Construction & Renovation Services Ltd to James Loftus Construction Ltd on 1 April 2025.