Lightweight Drywall Ltd - Accounts to registrar - small 17.2

REGISTERED NUMBER: 00981576 (England and Wales)

Audited Financial Statements

for the Period 1 January 2018 to 30 June 2018

for

Lightweight Drywall Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

P E Burgess

SECRETARY:

Mrs J Burgess

REGISTERED OFFICE:

35-37 Groton Road

Earlsfield

SW18 4ER

REGISTERED NUMBER:

00981576 (England and Wales)

SENIOR STATUTORY AUDITOR:

David Lloyd

AUDITORS:

David Lloyd & Co, Statutory Auditor

Chartered Accountants

15 Sackville Street

Mayfair

London

W1S 3DN

BANKERS:

Lloyds TSB

City Office Corporate & Institutional

PO Box 72, Bailey Drive

Gillingham Business Park

Gillingham

Kent

ME8 0LS

FIXED ASSETS

Tangible assets

4

4,685

9,228

CURRENT ASSETS

Debtors

5

234,297

151,273

Cash at bank and in hand

379,986

337,117

614,283

488,390

CREDITORS

Amounts falling due within one year

6

159,085

112,450

NET CURRENT ASSETS

455,198

375,940

TOTAL ASSETS LESS CURRENT LIABILITIES

459,883

385,168

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

459,783

385,068

SHAREHOLDERS' FUNDS

459,883

385,168

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 28 February 2019 and were signed by:

P E Burgess - Director

1.	STATUTORY INFORMATION

Lightweight Drywall Ltd is a private company, limited by shares , registered in England and Wales. 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 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.

Turnover

Turnover represents net invoiced sales on contracts for goods and services.

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of

the work done after provision for contingencies and anticipated future losses on contracts, less amounts received

as progress payments on account. Excess progress payments are included in creditors as payments on account.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Leasehold Improvements

-

over the term of the lease

Plant and machinery etc

-

25% on reducing balance

Taxation

Taxation for the period 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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

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.

There is one Director accruing benefits under the money purchase pension scheme.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 (2017 - 0 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Leasehold

machinery

Improvements

etc

Totals

£

£

£

COST

At 1 January 2018

103,966

106,597

210,563

Disposals

(103,966

)

(86,857

)

(190,823

)

At 30 June 2018

-

19,740

19,740

DEPRECIATION

At 1 January 2018

103,966

97,369

201,335

Charge for period

-

1,561

1,561

Eliminated on disposal

(103,966

)

(83,875

)

(187,841

)

At 30 June 2018

-

15,055

15,055

NET BOOK VALUE

At 30 June 2018

-

4,685

4,685

At 31 December 2017

-

9,228

9,228

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

31.12.17

£

£

Trade debtors

81,701

56,635

Amounts recoverable on contracts

139,241

89,412

Prepayments

13,355

5,226

234,297

151,273

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

31.12.17

£

£

Trade creditors

75,286

37,903

Taxation and social security

73,799

52,595

Other creditors

10,000

21,952

159,085

112,450

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Lloyd (Senior Statutory Auditor)

for and on behalf of David Lloyd & Co, Statutory Auditor

8.	RELATED PARTY DISCLOSURES

The company rents it's accommodation from the Trustees of the Lightweight Plastering Retirement and Death

Benefit Scheme at an annual rental of £28,140. A new lease was granted in May 2017 for two years.