L & D Construction South West Ltd - Accounts to registrar (filleted) - small 23.2.5
L & D Construction South West Ltd - Accounts to registrar (filleted) - small 23.2.5
| REGISTERED NUMBER: |
| FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
| FOR |
| L & D Construction South West Ltd |
| L & D Construction South West Ltd (Registered number: 09204891) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2023 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 | to | 3 |
| Notes to the Financial Statements | 4 | to | 7 |
| L & D Construction South West Ltd |
| COMPANY INFORMATION |
| for the year ended 31 March 2023 |
| Directors: |
| Registered office: |
| Business address: |
| Registered number: |
| Accountants: |
| 129 North Hill |
| Plymouth |
| Devon |
| PL4 8JY |
| L & D Construction South West Ltd (Registered number: 09204891) |
| BALANCE SHEET |
| 31 March 2023 |
| 2023 | 2022 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 7 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities | ( |
) |
| Creditors |
| Amounts falling due after more than one year |
8 |
| Net liabilities | ( |
) | ( |
) |
| Capital and reserves |
| Called up share capital | 10 |
| Retained earnings | ( |
) | ( |
) |
| Shareholders' funds | ( |
) | ( |
) |
| L & D Construction South West Ltd (Registered number: 09204891) |
| BALANCE SHEET - continued |
| 31 March 2023 |
| The directors acknowledge their 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. |
| In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| L & D Construction South West Ltd (Registered number: 09204891) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 March 2023 |
| 1. | STATUTORY INFORMATION |
| L & D Construction South West Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, business address 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 on a going concern basis as the directors intend to turn matters around by reviewing contract pricing, reviewing employment costings and generally reducing administration expenses of the business. |
| Turnover |
| Turnover is measured at the fair value of the consideration receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services which is recognised by the reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Stocks |
| Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. Work-in-progress is valued according to the stage of completion of the contracted work. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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. |
| Hire purchase and leasing commitments |
| Assets held under hire purchase and finance leases, which are those where substantially all the risks and rewards of ownership of the asset have been passed to the company, are capitalised in the balance sheet and depreciated over the term of the lease. The corresponding lease obligation is treated in the balance sheet as a liability. |
| L & D Construction South West Ltd (Registered number: 09204891) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2023 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Debtors |
| Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
| Creditors and provisions |
| Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
| Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| Cost |
| At 1 April 2022 |
| Additions |
| Disposals | ( |
) | ( |
) |
| At 31 March 2023 |
| Depreciation |
| At 1 April 2022 |
| Charge for year |
| At 31 March 2023 |
| Net book value |
| At 31 March 2023 |
| At 31 March 2022 |
| L & D Construction South West Ltd (Registered number: 09204891) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2023 |
| 4. | TANGIBLE FIXED ASSETS - continued |
| 2023 | 2022 |
| £ | £ |
| Net book value of assets included above held under finance leases and hire purchase contracts | 108,110 | 105,256 |
| 5. | STOCKS |
| 2023 | 2022 |
| £ | £ |
| Stocks |
| Work-in-progress |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts and finance leases |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2023 | 2022 |
| £ | £ |
| Bank loans |
| Hire purchase contracts and finance leases |
| L & D Construction South West Ltd (Registered number: 09204891) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 March 2023 |
| 9. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2023 | 2022 |
| £ | £ |
| Bank overdraft |
| Bank loans |
| Hire purchase contracts and finance leases | 75,281 | 80,244 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2023 | 2022 |
| value: | £ | £ |
| Ordinary shares | £1 | 100 | 100 |
| 11. | RELATED PARTY DISCLOSURES |
| During the year the company paid the following management fees (net of vat): |
| Plymstock Plumbing and Heating Limited £92,500 |
| LCB Plumbing and Heating Limited £43,008 |
| These companies are the personal companies of the directors. |
| At 31st March 2023 LCB Plumbing and Heating Limited owed the company £48,372 and Plymstock Plumbing and Heating Limited owed £47,194. |
| At the balance sheet date the company was owed £35,151 by Darren Parker (director and shareholder)and £37,596 by Louis Baverstock(director and shareholder). The amounts were unsecured and carried no fixed term of repayment. Interest was charged at 2% and accrued for on 1st April 2023. |