Lane End Developments Construction Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09948160 (England and Wales)

Financial Statements for the Year Ended 31 May 2018

for

LANE END DEVELOPMENTS CONSTRUCTION LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr Richard James Harrison

Mr Robert Stratton

Mrs Leanne Mutton

REGISTERED OFFICE:

Unit 2

Station court

Stockport Road

Thelwall

Cheshire

WA42GW

REGISTERED NUMBER:

09948160 (England and Wales)

AUDITORS:

Hale Financial Limited

Chartered Accountants

Registered Auditors

Spring Court

Spring Road

Hale

Altrincham

Cheshire

WA14 2UQ

FIXED ASSETS

Tangible assets

4

100,158

73,302

CURRENT ASSETS

Stocks

1,376,446

516,340

Debtors

5

6,650,886

1,632,159

Cash at bank and in hand

2,172,889

871,829

10,200,221

3,020,328

CREDITORS

Amounts falling due within one year

6

9,512,229

2,968,481

NET CURRENT ASSETS

687,992

51,847

TOTAL ASSETS LESS CURRENT LIABILITIES

788,150

125,149

CREDITORS

Amounts falling due after more than one year

7

(17,172

)

(12,791

)

PROVISIONS FOR LIABILITIES

(19,030

)

(14,660

)

NET ASSETS

751,948

97,698

CAPITAL AND RESERVES

Called up share capital

200

1

Retained earnings

751,748

97,697

SHAREHOLDERS' FUNDS

751,948

97,698

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 Board of Directors on 1 February 2019 and were signed on its behalf by:

Mr Richard James Harrison - Director

1.	STATUTORY INFORMATION

Lane End Developments Construction Ltd 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added

tax and other sales taxes.

Land Revenue;

The company recognises the value of land acquired and resold to the construction clients at the point of legal completion.

Construction Revenue;

The company recognises construction revenue when long term work in progress is billed pursuant to surveyor's certificate

of value..

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

33.33% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Stocks and work in progress

Stocks and work in progress is valued at the lower of cost and net realisable value. Cost is calculated using the first-in,

first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and

condition.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and

those overheads that have been incurred in bringing the inventories to their present location and condition. At each

reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price

less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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 balance sheet date.

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 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2017 - 21 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 June 2017

33,680

17,388

41,016

92,084

Additions

13,719

13,880

30,184

57,783

At 31 May 2018

47,399

31,268

71,200

149,867

DEPRECIATION

At 1 June 2017

9,841

362

8,579

18,782

Charge for year

13,089

4,835

13,003

30,927

At 31 May 2018

22,930

5,197

21,582

49,709

NET BOOK VALUE

At 31 May 2018

24,469

26,071

49,618

100,158

At 31 May 2017

23,839

17,026

32,437

73,302

5.

DEBTORS

31.5.18

31.5.17

£

£

Amounts falling due within one year:

Trade debtors

4,672,456

1,256,002

Amounts owed by related party

431

331

Other debtors

1,439,385

375,826

6,112,272

1,632,159

31.5.18

31.5.17

£

£

Amounts falling due after more than one year:

Trade debtors

538,614

-

Aggregate amounts

6,650,886

1,632,159

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.18

31.5.17

£

£

Hire purchase contracts

9,048

4,017

Trade creditors

5,254,085

1,989,503

Amounts owed to related party

-

41,183

Taxation and social security

75,599

32,057

Other creditors

4,173,497

901,721

9,512,229

2,968,481

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.18

31.5.17

£

£

Hire purchase contracts

17,172

12,791

8.	SECURED DEBTS

The hire purchase liabilities included in note 7 and 8 are secured on company assets.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

ANTHONY KNOWLES (Senior Statutory Auditor)

for and on behalf of Hale Financial Limited

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 May 2018 and the period ended

31 May 2017:

31.5.18

31.5.17

£

£

Mr Richard James Harrison

Balance outstanding at start of year

130,811

-

Amounts advanced

161,290

130,811

Amounts repaid

(292,101

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

130,811

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £292,101 were paid to the directors .

During the period, Lane End Developments Construction Limited paid £54,100 (2017: £0) on behalf of Wilbur Boy

Developments Limited and £331 (2017: £0) to Lane End Strategic Land Limited. Both companies are under common

control. The balances were outstanding as at 31 May 2018 and are included in the other debtors.