LP Construction (London) Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 04544733 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2017

FOR

LP CONSTRUCTION (LONDON) LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Statement of Financial Position

3

Notes to the Financial Statements

5

DIRECTOR:

M I Lodge Patch

SECRETARY:

Mrs D M Lodge Patch

REGISTERED OFFICE:

75 Park Lane

Croydon

Surrey

CR9 1XS

REGISTERED NUMBER:

04544733 (England and Wales)

ACCOUNTANTS:

Kings Mill Partnership

75 Park Lane

Croydon

Surrey

CR9 1XS

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary

statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of LP Construction (London) Limited for the year ended 30 September 2017 which comprise the

Income Statement, Statement of Financial Position and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of LP Construction (London) Limited in accordance with the terms of our engagement letter dated 3 June 2014. Our work has been undertaken solely to prepare for your approval the financial statements of LP Construction (London) Limited and state those matters that we have agreed to state to the director of LP Construction (London) Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LP Construction (London) Limited and its director 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 financial statements 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 financial statements 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 financial statements.

Kings Mill Partnership

75 Park Lane

Croydon

Surrey

CR9 1XS

27 June 2018

FIXED ASSETS

Tangible assets

4

23,551

16,516

CURRENT ASSETS

Debtors

5

123,257

97,846

Cash at bank and in hand

21

58,094

123,278

155,940

CREDITORS

Amounts falling due within one year

6

170,927

201,522

NET CURRENT LIABILITIES

(47,649

)

(45,582

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(24,098

)

(29,066

)

CREDITORS

Amounts falling due after more than one year

7

(66,446

)

(3,693

)

PROVISIONS FOR LIABILITIES

(4,475

)

(3,303

)

NET LIABILITIES

(95,019

)

(36,062

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(95,021

)

(36,064

)

SHAREHOLDERS' FUNDS

(95,019

)

(36,062

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 27 June 2018 and were signed by:

M I Lodge Patch - Director

1.	STATUTORY INFORMATION

LP Construction (London) 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A

These financial statements for the year ended 30 September 2017 are the first that are prepared in accordance

with FRS 102 Section 1A. The previous financial statements were prepared in accordance with UK GAAP, the

date of transition to FRS 102 Section 1A is 1 October 2015.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost and 25% on reducing balance

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2016 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2016

46,932

Additions

19,677

Disposals

(32,809

)

Transfer to ownership

(17,167

)

Reclassification/transfer

17,167

At 30 September 2017

33,800

DEPRECIATION

At 1 October 2016

30,416

Charge for year

4,280

Eliminated on disposal

(35,730

)

Reclassification/transfer

11,283

At 30 September 2017

10,249

NET BOOK VALUE

At 30 September 2017

23,551

At 30 September 2016

16,516

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 October 2016

28,530

Additions

18,675

Transfer to ownership

(17,167

)

At 30 September 2017

30,038

DEPRECIATION

At 1 October 2016

14,896

Charge for year

4,123

Eliminated on disposal

(11,282

)

At 30 September 2017

7,737

NET BOOK VALUE

At 30 September 2017

22,301

At 30 September 2016

13,634

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

41,709

22,432

Other debtors

81,548

75,414

123,257

97,846

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

27,598

7,066

Hire purchase contracts

4,547

8,724

Trade creditors

76,100

115,487

Taxation and social security

34,717

43,661

Other creditors

27,965

26,584

170,927

201,522

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

59,043

2,986

Hire purchase contracts

7,403

707

66,446

3,693

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank overdraft

11,991

-

Bank loans

74,650

10,052

86,641

10,052

9.	RELATED PARTY DISCLOSURES

Included within creditors is a loan from Mr M Lodge-Patch, the company's sole shareholder, in the amount of

£14,917 (2016: £2,097).