Lifespan Structures Limited - Period Ending 2021-06-30
Lifespan Structures Limited - Period Ending 2021-06-30
Registration number:
Lifespan Structures Limited
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Brebners
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Lifespan Structures Limited
Contents
Company Information |
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Statement of Financial Position |
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Notes to the Financial Statements |
Lifespan Structures Limited
Company Information
Directors |
A P Rimoldi S S Patel J F Drewett M Richardson |
Registered office |
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Auditor |
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Lifespan Structures Limited
Statement of Financial Position as at 30 June 2021
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2020 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Share premium reserve |
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Capital contribution reserve |
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Profit and loss account |
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Total equity |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Approved and authorised by the
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S S Patel
Director
Company registration number: 09527478
Lifespan Structures Limited
Notes to the Financial Statements for the Year Ended 30 June 2021
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is to supply lightweight composite footbridges, designed and custom manufactured for unique and individual installations.
Accounting policies |
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Going concern
The company made a profit after tax for the year ended 30 June 2021 and had net assets of £80,966 at 30 June 2021.
The directors have considered the potential impact of COVID-19 which was declared a pandemic by the World Health Organisation on 11 March 2020.
The company experienced the impact of the pandemic in the second half of the year ended 30 June 2021, however turnover has now returned to expected levels experienced in prior years. The directors remain optimistic about the market after recent Government announcements on increased investment in infrastructure and the relaxation of lockdown restrictions in Summer 2021.
The directors have considered the effect of the current COVID-19 crisis and, although there is no certainty as to when it will end, the director’s view is that the impact is manageable. The company has been able to continue trading during the pandemic restrictions and despite revenues being affected, the company has been able to generate profits. The company has restructured its operations to ensure more efficiencies within the business, which has resulted in reduced costs.
The directors have considered the cashflow requirements of the company for the next 12 months, which demonstrates that the company has sufficient working capital for a period exceeding 12 months from the approval of the financial statements.
On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
Lifespan Structures Limited
Notes to the Financial Statements for the Year Ended 30 June 2021
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods or provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the company and specific criteria have been met for each of the company’s activities.
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 expenses recognised are recoverable.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Audit Report |
Staff numbers |
The average number of persons employed by the company during the year, was
Lifespan Structures Limited
Notes to the Financial Statements for the Year Ended 30 June 2021
Debtors |
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2020 |
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Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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Taxation and social security |
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Other creditors |
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Related party transactions |
Summary of transactions with parent and fellow subsidiaries
Parent and ultimate parent undertaking |
The immediate parent company is Centura Holding Limited, a company incorporated in England and Wales.
The ultimate parent undertaking is Centura Group Limited, a company incorporated in England and Wales. Copies of the accounts of Centura Group can be obtained from Companies House.
The parent of the smallest and largest group for which group accounts are prepared, of which the company is a member, is Centura Group Limited.