LP Construction (London) Limited - Period Ending 2022-09-30
LP Construction (London) Limited - Period Ending 2022-09-30
Registration number:
LP Construction (London) Limited
for the Year Ended 30 September 2022
LP Construction (London) Limited
Contents
Company Information |
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Accountants' Report |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
LP Construction (London) Limited
Company Information
Director |
M I Lodge Patch |
Company secretary |
Mrs D M Lodge Patch |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
LP Construction (London) Limited
for the Year Ended 30 September 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of LP Construction (London) Limited for the year ended 30 September 2022 as set out on pages 3 to 10 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of LP Construction (London) Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of LP Construction (London) Limited and state those matters that we have agreed to state to the Board of Directors of LP Construction (London) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LP Construction (London) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that LP Construction (London) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of LP Construction (London) Limited. You consider that LP Construction (London) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of LP Construction (London) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Accountants
306 High Street
Croydon
Surrey
CR0 1NG
LP Construction (London) Limited
(Registration number: 04544733)
Statement of Financial Position as at 30 September 2022
Note |
2022 |
2021 |
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Fixed assets |
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Tangible assets |
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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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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
( |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
- |
( |
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Net (liabilities)/assets |
( |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Retained earnings |
(200,508) |
621 |
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Shareholders' (deficit)/funds |
(200,506) |
623 |
For the financial year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
LP Construction (London) Limited
(Registration number: 04544733)
Statement of Financial Position as at 30 September 2022 (continued)
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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.
Approved and authorised by the
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LP Construction (London) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
The presentation currency of the financial statements is Pound Sterling (£) rounded to the nearest Pound.
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/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 entity;
and specific criteria have been met for each of the company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change 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.
LP Construction (London) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022 (continued)
2 |
Accounting policies (continued) |
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.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Office equipment |
33.33% straight line |
Fixtures & Fittings |
25% reducing balance |
Plant & Machinery |
25% reducing balance |
Motor Vehicles |
25% reducing balance |
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.
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account on a straight-line basis.
LP Construction (London) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022 (continued)
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
LP Construction (London) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022 (continued)
Tangible assets |
Fixtures and fittings |
Plant and machinery |
Office equipment |
Motor vehicles |
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Cost or valuation |
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At 1 October 2021 |
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Disposals |
- |
- |
- |
( |
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At 30 September 2022 |
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Depreciation |
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At 1 October 2021 |
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Charge for the year |
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- |
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Eliminated on disposal |
- |
- |
- |
( |
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At 30 September 2022 |
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Carrying amount |
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At 30 September 2022 |
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- |
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At 30 September 2021 |
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- |
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Total |
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Cost or valuation |
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At 1 October 2021 |
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Disposals |
( |
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At 30 September 2022 |
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Depreciation |
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At 1 October 2021 |
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Charge for the year |
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Eliminated on disposal |
( |
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At 30 September 2022 |
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Carrying amount |
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At 30 September 2022 |
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At 30 September 2021 |
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LP Construction (London) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022 (continued)
Debtors |
Current |
2022 |
2021 |
Trade debtors |
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Prepayments |
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Other debtors |
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LP Construction (London) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 September 2022 (continued)
Creditors |
Creditors: amounts falling due within one year
Note |
2022 |
2021 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
2022 |
2021 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2022 |
2021 |
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Non-current loans and borrowings |
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Bank borrowings |
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Other borrowings |
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2022 |
2021 |
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Current loans and borrowings |
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Bank borrowings |
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Bank overdrafts |
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- |
Other borrowings |
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