Lilburn & Elliott Construction Limited - Accounts to registrar (filleted) - small 18.1
Lilburn & Elliott Construction Limited - Accounts to registrar (filleted) - small 18.1
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 30 DECEMBER 2016 TO 31 DECEMBER 2017 |
FOR |
Lilburn & Elliott Construction Limited |
Lilburn & Elliott Construction Limited (Registered number: 10543241) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the period 30 December 2016 to 31 December 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
Lilburn & Elliott Construction Limited |
COMPANY INFORMATION |
for the period 30 December 2016 to 31 December 2017 |
Directors: |
Registered office: |
Business address: |
Registered number: |
Accountants: |
129 North Hill |
Plymouth |
Devon |
PL4 8JY |
Lilburn & Elliott Construction Limited (Registered number: 10543241) |
BALANCE SHEET |
31 December 2017 |
Notes | £ | £ |
Fixed assets |
Tangible assets | 4 |
Current assets |
Stocks |
Debtors | 5 |
Cash at bank |
Creditors |
Amounts falling due within one year | 6 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
7 |
( |
) |
Provisions for liabilities | 9 | ( |
) |
Net assets |
Capital and reserves |
Called up share capital | 10 |
Retained earnings |
Shareholders' funds |
Lilburn & Elliott Construction Limited (Registered number: 10543241) |
BALANCE SHEET - continued |
31 December 2017 |
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 on signed on its behalf by: |
Lilburn & Elliott Construction Limited (Registered number: 10543241) |
NOTES TO THE FINANCIAL STATEMENTS |
for the period 30 December 2016 to 31 December 2017 |
1. | STATUTORY INFORMATION |
Lilburn & Elliott Construction 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. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration receivable, net of discounts and |
value added taxes. Turnover includes revenue earned from construction services. Turnover |
from the rendering of services is recognised by the reference to the stage of completion of |
the contract. The stage of completion of a contact is measured by comparing the costs |
incurred for work performed to date to the total estimated contract costs. |
Tangible fixed assets |
Plant and machinery | - |
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 recognised at cost plus attributable profit where long term contracts are |
involved. |
Taxation |
Taxation for the period 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. |
Lilburn & Elliott Construction Limited (Registered number: 10543241) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 30 December 2016 to 31 December 2017 |
2. | ACCOUNTING POLICIES - continued |
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 |
Tangible fixed assets aquired under finance leases or hire purchase contracts are |
capitalised and depreciated in the same manner as other tangible fixed assets. The related |
obligations, net of future finance charges, are included in creditors. Rentals paid under |
operating leases are charged to income on a straight line basis over the lease term. |
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 |
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 |
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 period was |
Lilburn & Elliott Construction Limited (Registered number: 10543241) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 30 December 2016 to 31 December 2017 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
Cost |
Additions |
At 31 December 2017 |
Depreciation |
Charge for period |
At 31 December 2017 |
Net book value |
At 31 December 2017 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Hire purchase contracts |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Hire purchase contracts | 35,861 |
Lilburn & Elliott Construction Limited (Registered number: 10543241) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the period 30 December 2016 to 31 December 2017 |
9. | PROVISIONS FOR LIABILITIES |
£ |
Deferred tax | 2,570 |
Deferred |
tax |
£ |
Provided during period |
Balance at 31 December 2017 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary A shares | £1 | 2 |
Ordinary B shares | £1 | 2 |
4 |
11. | RELATED PARTY DISCLOSURES |
At the balance sheet date the company was owed the following amounts from related |
parties: |
Mr N Elliott (director) owed the company £8,919. This amount was made up of an opening |
balance of £Nil, total advances of £84,395 and repayments of £75,476. The maximum |
amount overdrawn in the year was £34,833. No interest was charged on this amount. |
Mr D Lilburn(director) owed the company £8,919. This amount was made up of an opening |
balance of £Nil, total advances of £83,981 and repayments of £75,062. The maximum |
amount overdrawn in the year was £34,251. No interest was charged on this amount. |
The company acquired the following assets on incorporation from it's directors: |
Equipment | £6,393 |
Vans | £29,941 |
12. | ULTIMATE CONTROLLING PARTY |
The company is ultimately controlled by it's directors. |