Company No: 04410206 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	163,405		202,537
Investments	5	20		20
		163,425		202,557
Current assets
Debtors	6	199,041		221,783
Cash at bank and in hand		13,344		8,609
		212,385		230,392
Creditors: amounts falling due within one year	7	( 202,046)		( 159,412)
Net current assets		10,339		70,980
Total assets less current liabilities		173,764		273,537
Creditors: amounts falling due after more than one year	8	( 123,374)		( 197,953)
Provision for liabilities	9	( 12,371)		( 16,495)
Net assets		38,019		59,089
Capital and reserves
Called-up share capital		100		100
Profit and loss account		37,919		58,989
Total shareholders' funds		38,019		59,089

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Lipscombe Building Contractors Limited (registered number: 04410206) were approved and authorised for issue by the Board of Directors on 19 December 2025. They were signed on its behalf by:

A J Lipscombe Director

D A Lipscombe Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Lipscombe Building Contractors Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lower Langham Barn, Langham Lane, Gillingham, SP8 5NT, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

5 years straight line

Goodwill

Goodwill arises on business combinations and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings	20 years straight line
Plant and machinery	25 % reducing balance
Vehicles	25 % reducing balance
Office equipment	25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Profit and Loss Account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Revenue from long term contracts is recognised by stage of completion. Stage of completion is measured by reference to costs incurred to date as a percentage of total estimated costs for each contract. Where the contract outcome cannot be measured reliably, revenue is measured only to the extent of the expenses recognised that are recoverable. Full provision is made for losses on all contracts in the year in which they are first foreseen.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	8		8

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 April 2024	15,000		15,000
At 31 March 2025	15,000		15,000
Accumulated amortisation
At 01 April 2024	15,000		15,000
At 31 March 2025	15,000		15,000
Net book value
At 31 March 2025	0		0
At 31 March 2024	0		0

4. Tangible assets

	Land and buildings		Plant and machinery		Vehicles		Office equipment		Total
	£		£		£		£		£
Cost
At 01 April 2024	485,494		105,012		110,540		5,583		706,629
Additions	1,679		0		0		0		1,679
At 31 March 2025	487,173		105,012		110,540		5,583		708,308
Accumulated depreciation
At 01 April 2024	348,935		61,898		88,482		4,777		504,092
Charge for the financial year	24,316		10,778		5,515		202		40,811
At 31 March 2025	373,251		72,676		93,997		4,979		544,903
Net book value
At 31 March 2025	113,922		32,336		16,543		604		163,405
At 31 March 2024	136,559		43,114		22,058		806		202,537

5. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 April 2024	20
At 31 March 2025	20
Carrying value at 31 March 2025	20
Carrying value at 31 March 2024	20

At the balance sheet date the company had 1 (2024 - 1) non-wholly owned subsidiary.

6. Debtors

	2025		2024
	£		£
Amounts owed by Group undertakings	198,630		193,830
Other debtors	411		27,953
	199,041		221,783

Amounts owed by Group undertakings are repayable on demand and do not bear interest.

7. Creditors: amounts falling due within one year

	2025		2024
	£		£
Bank loans (secured)	35,176		33,408
Trade creditors	37,003		38,516
Corporation tax	51,726		34,889
Other taxation and social security	29,819		26,983
Obligations under finance leases and hire purchase contracts (secured)	39,251		18,083
Other creditors	9,071		7,533
	202,046		159,412

8. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Bank loans (secured)	113,736		149,063
Obligations under finance leases and hire purchase contracts (secured)	9,638		48,890
	123,374		197,953

Within bank loans is a balance of £17,721 (2024 - £27,847) relating to an outstanding amount due from a Coronavirus Bounce Back Loan. The UK government have guaranteed 100% of the value of the loan as well as agreeing to pay interest and fees for the first 12 months.

The remainder of the bank loans are secured by a fixed and floating charge over property and undertakings of the Company.

The hire purchase contracts are secured on the assets concerned which are included within motor vehicles and plant & machinery. At the balance sheet date the assets concerned had a combined net book value of £38,414 (2024 - £51,219).

9. Provision for liabilities

	2025		2024
	£		£
Deferred tax	12,371		16,495

10. Related party transactions

Transactions with the entity's directors

Advances

The Directors' loan accounts are repayable on demand and interest has been charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 April 2024 the balance owed from the directors was £nil. During the year, the company made advances to directors amounting to £64,193 and received repayments of £64,193 leaving a balance due from the directors of £nil.

There were no advances or repayments made to/from the directors in the period ended 31 March 2024.