REGISTERED NUMBER: SC275166 (Scotland)

Unaudited Financial Statements for the Year Ended 31 October 2025

for

LB Foundations Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D MacColl

SECRETARY:

Mrs S MacColl

REGISTERED OFFICE:

Low Boreland Farm

Lesmahagow

Lanarkshire

ML11 9PY

REGISTERED NUMBER:

SC275166 (Scotland)

FIXED ASSETS

Tangible assets

4

875,426

510,166

CURRENT ASSETS

Stocks

1,245,870

932,012

Debtors

5

1,004,516

614,266

Cash at bank and in hand

128,655

222,555

2,379,041

1,768,833

CREDITORS

Amounts falling due within one year

6

941,935

406,672

NET CURRENT ASSETS

1,437,106

1,362,161

TOTAL ASSETS LESS CURRENT LIABILITIES

2,312,532

1,872,327

CREDITORS

Amounts falling due after more than one year

7

(175,721

)

(101,752

)

PROVISIONS FOR LIABILITIES

(218,856

)

(127,542

)

NET ASSETS

1,917,955

1,643,033

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,917,953

1,643,031

SHAREHOLDERS' FUNDS

1,917,955

1,643,033

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2025 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 May 2026 and were signed by:

D MacColl - Director

1.	STATUTORY INFORMATION

LB Foundations 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Work in progress includes a proportionate element of profit where the outcome of the contract can be assessed with reasonable certainty.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 year 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2024 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2024

1,430,666

Additions

547,065

Disposals

(23,149

)

At 31 October 2025

1,954,582

DEPRECIATION

At 1 November 2024

920,500

Charge for year

174,481

Eliminated on disposal

(15,825

)

At 31 October 2025

1,079,156

NET BOOK VALUE

At 31 October 2025

875,426

At 31 October 2024

510,166

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 November 2024

212,736

Additions

286,000

At 31 October 2025

498,736

DEPRECIATION

At 1 November 2024

110,495

Charge for year

39,861

At 31 October 2025

150,356

NET BOOK VALUE

At 31 October 2025

348,380

At 31 October 2024

102,241

5.

DEBTORS

31.10.25

31.10.24

£

£

Amounts falling due within one year:

Trade debtors

606,523

195,389

Other debtors

4,788

5,672

611,311

201,061

Amounts falling due after more than one year:

Amounts owed by group undertakings

393,205

413,205

Aggregate amounts

1,004,516

614,266

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.25

31.10.24

£

£

Bank loans and overdrafts

50,000

50,000

Hire purchase contracts

71,465

28,069

Trade creditors

635,337

118,503

Amounts owed to associates

30,000

-

Taxation and social security

(84,827

)

40,435

Other creditors

239,960

169,665

941,935

406,672

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.25

31.10.24

£

£

Bank loans

29,166

79,166

Hire purchase contracts

146,555

22,586

175,721

101,752

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £20,000 (2024 - £20,000) were paid to the director .

During the year the company purchased goods and services from LB Plant Hire, a business in which Mr David MacColl, director, has a beneficial interest. This amounted to £655,215 (2024:£363,333) and £442,338 (2024:£27,600) was outstanding at the year end in relation to these purchases.

During the year the company rented property from Boreland Properties, a firm in which Mr David MacColl, director, has an interest. This amounted to £28,800 (2024:£28,800) and £74,800 (2024:£60,400) was outstanding at the year end.

Included in debtors is an amount due from a connected party, LB Civils Group Ltd, of £393,205.(2024: £413,205).This balance does not attract interest and has no fixed terms of repayment.

9.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr D. MacColl, director.