COMPANY REGISTRATION NUMBER:
06436637
L. & S. Building Services Limited
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Filleted Unaudited Accounts
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L. & S. Building Services Limited
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Statement of Financial Position
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31 December 2020
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2020
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2019
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(restated)
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Note
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£
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£
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£
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£
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Fixed assets
Current assets
Debtors
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5
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2,671,950
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2,697,124
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Creditors: amounts falling due within one year
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6
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(
121,503)
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(
138,552)
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------------
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------------
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Net current assets
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2,550,447
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2,558,572
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------------
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------------
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Total assets less current liabilities
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2,550,450
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2,558,575
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------------
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------------
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Capital and reserves
Called up share capital
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3
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3
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Profit and loss account
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2,550,447
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2,558,572
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Shareholders funds
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2,550,450
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2,558,575
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These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts
.
These accounts were approved by the
board of directors
and authorised for issue on
2 February 2022
, and are signed on behalf of the board by:
Company registration number:
06436637
L. & S. Building Services Limited
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Year ended 31 December 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Nicholson House, 41 Thames Street, Weybridge, Surrey, KT13 8JG, England.
2.
Statement of compliance
These accounts have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The accounts have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The accounts are prepared in sterling, which is the functional currency of the entity.
Interest income
Interest income is recognised in profit or loss using the effective interest method.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future, despite the on going challenges COVID-19 is having on the business. For this reason the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Consolidation
The company has taken advantage of the option not to prepare consolidated accounts contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. The estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. In the preparation of these financial statement, there were no significant estimates or judgements made which would have a material impact on the financial results.
Investments
Investments in subsidiaries are measured at cost less accumulated impairment.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units
.
Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
4.
Investments
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Shares in group undertakings
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£
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Cost
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At 1 January 2020 as restated and 31 December 2020
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3
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----
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Impairment
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At 1 January 2020 as restated and 31 December 2020
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–
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----
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Carrying amount
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At 31 December 2020
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3
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----
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At 31 December 2019
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3
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----
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5.
Debtors
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2020
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2019
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(restated)
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£
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£
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Amounts owed by group undertakings and undertakings in which the company has a participating interest
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2,451,220
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2,448,445
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Tax recoverable
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54,141
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53,965
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Other debtors
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166,589
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194,714
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2,671,950
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2,697,124
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------------
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------------
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6.
Creditors:
amounts falling due within one year
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2020
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2019
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(restated)
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£
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£
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Amounts owed to group undertakings
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121,327
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121,327
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Corporation tax
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176
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17,225
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121,503
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138,552
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7.
Prior period errors
A prior year adjustment has been made to correct the retained reserves brought forward in the 2019 figures to correct dividends paid totalling £5,000 and dividend received of £5,000. The net affect has been nil to the profit and loss. However, a correction has been made between the amounts owed by group undertakings and directors loan account, thus reducing the amounts owed by the director by £5,000.
8.
Related party transactions
As of the year end, the company was owed £166,589 (2019: £194,714) by Mr
I Harrison
.
9.
Controlling party
I Harrison
is deemed to be the ultimate controlling party by virtue of his shareholding.