A & S Luisi Joiners & Contractors Limited

Registered number

04485970

Unaudited Filleted Accounts

For the Year Ended

31 August 2018

A & S Luisi Joiners & Contractors Limited
Registered number:		04485970
Balance Sheet
as at 31 August 2018

Notes			2018			2017
£				£
Fixed assets
Tangible assets	2		34,132			29,941

Current assets
Stocks		39,659			16,015
Debtors	3	4,676			57,909
Cash at bank and in hand		135,442			94,041
		179,777			167,965

Creditors: amounts falling due within one year	4	(41,219)			(53,188)

Net current assets			138,558			114,777

Total assets less current liabilities			172,690			144,718

Creditors: amounts falling due after more than one year	5		-			(3,364)

Provisions for liabilities			(6,485)			(5,689)


Net assets			166,205			135,665

Capital and reserves
Called up share capital			10			10
Profit and loss account			166,195			135,655

Shareholders' funds			166,205			135,665

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




A D Luisi
Director
Approved by the board on 14 May 2019

A & S Luisi Joiners & Contractors Limited
Notes to the Accounts
for the year ended 31 August 2018


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	10% reducing balance
	Office equipment	over 3 years
	Motor vehicles	25% reducing balance

	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.

	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.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	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.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 September 2017	35,170		37,121		72,291
	Additions	900		15,587		16,487
	Disposals	(2,231)		(13,167)		(15,398)
	At 31 August 2018	33,839		39,541		73,380

	Depreciation
	At 1 September 2017	19,184		23,166		42,350
	Charge for the year	2,023		6,423		8,446
	On disposals	(2,231)		(9,317)		(11,548)
	At 31 August 2018	18,976		20,272		39,248

	Net book value
	At 31 August 2018	14,863		19,269		34,132
	At 31 August 2017	15,986		13,955		29,941


3	Debtors			2018		2017
£					£

	Trade debtors			2,453		56,184
	Other debtors			2,223		1,725
				4,676		57,909


4	Creditors: amounts falling due within one year			2018		2017
£					£

	Obligations under finance lease and hire purchase contracts			3,364		3,364
	Trade creditors			4,998		11,896
	Taxation and social security costs			31,367		36,334
	Other creditors			1,490		1,594
				41,219		53,188


5	Creditors: amounts falling due after one year			2018		2017
£					£

	Obligations under finance lease and hire purchase contracts			-		3,364


6	Other information

	A & S Luisi Joiners & Contractors Limited is a private company limited by shares and incorporated in England. Its registered office is:
	20 Riverbank Road
	Kendal
	Cumbria
	LA9 5JS