Company Registration No. 09780356 (England and Wales)
LCCD PROJECTS LIMITED
FORMERLY LOW CARBON CONSTRUCTION PROJECTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 JUNE 2022
PAGES FOR FILING WITH REGISTRAR
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
LCCD PROJECTS LIMITED
FORMERLY LOW CARBON CONSTRUCTION PROJECTS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
LCCD PROJECTS LIMITED
FORMERLY LOW CARBON CONSTRUCTION PROJECTS LIMITED
COMPANY INFORMATION
- 1 -
Director
Ms. B Farrow
Company number
09780356
Registered office
Faretec Carnac Court
Cams Hall Estate
Fareham
PO16 8UY
Accountants
TC Group
3 Acorn Business Centre
Northarbour Road
Cosham
Portsmouth
Hampshire
PO6 3TH
LCCD PROJECTS LIMITED
FORMERLY LOW CARBON CONSTRUCTION PROJECTS LIMITED
BALANCE SHEET
AS AT
30 JUNE 2022
30 June 2022
- 2 -
2022
2021
Notes
£
£
£
£
Current assets
Debtors
3
692,032
707,062
Cash at bank and in hand
5
61
692,037
707,123
Creditors: amounts falling due within one year
4
(5,673,925)
(5,569,414)
Net current liabilities
(4,981,888)
(4,862,291)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(4,981,889)
(4,862,292)
Total equity
(4,981,888)
(4,862,291)
LCCD PROJECTS LIMITED
FORMERLY LOW CARBON CONSTRUCTION PROJECTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JUNE 2022
30 June 2022
- 3 -
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial period ended 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 30 March 2023
Ms. B Farrow
Director
Company Registration No. 09780356
The notes on pages 4 to 6 form part of these financial statements
LCCD PROJECTS LIMITED
FORMERLY LOW CARBON CONSTRUCTION PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2022
- 4 -
1
Accounting policies
Company information
LCCD Projects Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
Faretec Carnac Court, Cams Hall Estate, Fareham, PO16 8UY.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
At the balance sheet date the company's liabilities exceeded its assets. The day to day
true
operation of the company is dependent upon support from its
trade creditors
. As this support will continue to be
forthcoming, the director considers it appropriate to prepare the financial statements on a going concern
basis.
1.3
Reporting period
The company's accounting reference date has been extended to coincide with the same date as its parent company. Therefore,
comparative amounts presented in the financial statements (including
the related notes) are not entirely comparable.
1.4
Cash at bank and in hand
Cash at bank and in hand
are basic financial assets
and
include cash in hand
and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
LCCD PROJECTS LIMITED
FORMERLY LOW CARBON CONSTRUCTION PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2022
1
Accounting policies
(Continued)
- 5 -
Basic financial assets
Basic financial assets, which include
debtors
and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest
method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including
creditors
, bank loans
and
loans from
fellow group companies, are
initially recognised at transaction price unless the arrangement constitutes a
financing transaction, where the debt instrument is measured at the present value of
the future
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2022
2021
Number
Number
Total
1
1
LCCD PROJECTS LIMITED
FORMERLY LOW CARBON CONSTRUCTION PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2022
- 6 -
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Other debtors
692,032
707,062
4
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
5,626,165
5,498,845
Other creditors
47,760
70,569
5,673,925
5,569,414