LOPES CONTRACTORS LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07413108 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 October 2021

for

LOPES CONTRACTORS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D Lopes

SECRETARY:

REGISTERED OFFICE:

12 Addington Drive

North Finchley

London

N12 0PH

REGISTERED NUMBER:

07413108 (England and Wales)

ACCOUNTANTS:

M SAI LTD

49 Leeside

Barnet

EN5 2PD

FIXED ASSETS

Tangible assets

4

14,966

19,955

CURRENT ASSETS

Stocks

10,860

3,910

Debtors

5

50,000

50,764

Cash at bank

7,623

27,477

68,483

82,151

CREDITORS

Amounts falling due within one year

6

103,171

85,538

NET CURRENT LIABILITIES

(34,688

)

(3,387

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(19,722

)

16,568

CREDITORS

Amounts falling due after more than one year

7

(187

)

3,274

NET (LIABILITIES)/ASSETS

(19,535

)

13,294

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(19,536

)

13,293

(19,535

)

13,294

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2021 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 14 September 2022 and were signed by:

D Lopes - Director

1.	STATUTORY INFORMATION

LOPES CONTRACTORS LIMITED 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 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.

Plant and machinery etc

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2020

and 31 October 2021

31,240

DEPRECIATION

At 1 November 2020

11,285

Charge for year

4,989

At 31 October 2021

16,274

NET BOOK VALUE

At 31 October 2021

14,966

At 31 October 2020

19,955

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Other debtors

50,000

50,764

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.21

31.10.20

£

£

Trade creditors

-

1

Taxation and social security

3,717

627

Other creditors

99,454

84,910

103,171

85,538

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.10.21

31.10.20

£

£

Other creditors

(187

)

3,274