L & H DRIVEWAYS LTD Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 2929009

L & H DRIVEWAYS LTD

Filleted Unaudited Financial Statements

31 May 2025

L & H DRIVEWAYS LTD

Financial Statements

Year ended 31 May 2025

Contents	Pages

Chartered certified accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2 to 3

Notes to the financial statements	4 to 8

L & H DRIVEWAYS LTD

Chartered Certified Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of L & H DRIVEWAYS LTD

Year ended 31 May 2025

As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 31 May 2025, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.

VAGHELA & CO. (SERVICES) LTD. Chartered Certified Accountants

P.O. Box 10901 Birmingham B1 1ZQ

31 May 2026

L & H DRIVEWAYS LTD

Statement of Financial Position

31 May 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	6		6,879		7,885

Current assets

Stocks	7	3,565	3,895
Debtors	8	33,761	72,077
Cash at bank and in hand		50,820	42,927
		--------	---------
		88,146	118,899

Creditors: amounts falling due within one year	9	81,650		103,485
		--------		---------
Net current assets			6,496		15,414
			--------		--------
Total assets less current liabilities			13,375		23,299

Creditors: amounts falling due after more than one year	10		11,667		21,667

Provisions

Taxation including deferred tax	823	823
	--------	--------
Net assets	885	809
	--------	--------

Capital and reserves

Called up share capital	11	200	200
Profit and loss account		685	609
		----	----
Shareholders funds		885	809
		----	----

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 May 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

L & H DRIVEWAYS LTD

Statement of Financial Position (continued)

31 May 2025

These financial statements were approved by the board of directors and authorised for issue on 31 May 2026 , and are signed on behalf of the board by:

Ms P. Luisis

Director

Company registration number: 2929009

L & H DRIVEWAYS LTD

Notes to the Financial Statements

Year ended 31 May 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is WOODSIDE FARM DUTTONS LANE, ROUGHLEY, SUTTON COLDFIELD, WEST MIDLANDS, B75 5RJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant & Machinery	-	15% reducing balance
Fixtures & Fittings	-	15% reducing balance
Motor Vehicles	-	25% reducing balance
Equipment	-	15% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2024: 4 ).

5. Dividends

Dividends paid during the year (excluding those for which a liability existed at the end of the prior year):

	2025	2024
	£	£
Dividends on ordinary equity shares	32,000	40,000
	--------	--------

6. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 June 2024	42,883	5,158	43,995	18,563	110,599
Additions	–	–	–	428	428
	--------	------	--------	--------	---------
At 31 May 2025	42,883	5,158	43,995	18,991	111,027
	--------	------	--------	--------	---------
Depreciation
At 1 June 2024	41,125	3,976	42,134	15,479	102,714
Charge for the year	264	177	466	527	1,434
	--------	------	--------	--------	---------
At 31 May 2025	41,389	4,153	42,600	16,006	104,148
	--------	------	--------	--------	---------
Carrying amount
At 31 May 2025	1,494	1,005	1,395	2,985	6,879
	--------	------	--------	--------	---------
At 31 May 2024	1,758	1,182	1,861	3,084	7,885
	--------	------	--------	--------	---------

7. Stocks

	2025	2024
	£	£
Raw materials and consumables	3,565	3,895
	------	------

8. Debtors

	2025	2024
	£	£
Trade debtors	9,900	57,451
Other debtors	23,861	14,626
	--------	--------
	33,761	72,077
	--------	--------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	494	494
Trade creditors	7,211	11,953
Corporation tax	8,345	6,026
Social security and other taxes	1,810	320
Other creditors	63,790	84,692
	--------	---------
	81,650	103,485
	--------	---------

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

	2025	2024
	£	£
Bank loans and overdrafts	11,667	21,667
	--------	--------

11. Called up share capital

Authorised share capital

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	1,000	1,000	1,000	1,000
	------	------	------	------

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	200	200	200	200
	----	----	----	----

12. Directors' advances, credits and guarantees

Transaction took place between the directors and the company. At the period end the directors were owed £18,132 (2024 - £34,672). The loan is interest free but repayable on demand.

13. Related party transactions

During the year, interest free advances were made to the directors, Mr L. Henderson & Ms P. Luisis . These were repayable on demand. Mr L. Henderson, director, received dividends amounting to £16,000 for the year under review. Ms P. Luisis , director, also received dividends amounting to £16,000 for the year under review.