1 April 2021 false No description of principal activity Taxfiler 2022.8.3 SC285388business:PrivateLimitedCompanyLtd2021-04-012022-03-31 SC2853882021-03-31 SC2853882021-04-012022-03-31 SC285388business:AuditExempt-NoAccountantsReport2021-04-012022-03-31 SC285388business:FullAccounts2021-04-012022-03-31 SC2853882022-03-31 SC285388business:Director12021-04-012022-03-31 SC285388business:CompanySecretary12021-04-012022-03-31 SC285388business:RegisteredOffice2021-04-012022-03-31 SC2853882021-03-31 SC285388core:WithinOneYear2022-03-31 SC285388core:WithinOneYear2021-03-31 SC285388core:AfterOneYear2022-03-31 SC285388core:AfterOneYear2021-03-31 SC285388core:ShareCapital2022-03-31 SC285388core:ShareCapital2021-03-31 SC285388core:RetainedEarningsAccumulatedLosses2022-03-31 SC285388core:RetainedEarningsAccumulatedLosses2021-03-31 SC285388business:SmallEntities2021-04-012022-03-31 SC285388countries:Scotland2021-04-012022-03-31 SC285388core:LandBuildings2021-04-012022-03-31 SC285388core:PlantMachinery2021-04-012022-03-31 SC285388core:MotorVehicles2021-04-012022-03-31 SC285388core:ComputerEquipment2021-04-012022-03-31 SC285388core:LandBuildings2021-03-31 SC285388core:PlantMachinery2021-03-31 SC285388core:MotorVehicles2021-03-31 SC285388core:ComputerEquipment2021-03-31 SC285388core:LandBuildings2022-03-31 SC285388core:PlantMachinery2022-03-31 SC285388core:MotorVehicles2022-03-31 SC285388core:ComputerEquipment2022-03-31 SC285388core:MotorVehiclescore:LeasedAssetsHeldAsLessee2022-03-31 SC285388core:MotorVehiclescore:LeasedAssetsHeldAsLessee2021-03-31 SC2853882020-04-012021-03-31 iso4217:GBP xbrli:pure
Company Registration No. SC285388 (Scotland)
Lawrie (Furnishings) Limited Unaudited accounts for the year ended 31 March 2022
Lawrie (Furnishings) Limited Unaudited accounts Contents
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Lawrie (Furnishings) Limited Company Information for the year ended 31 March 2022
Director
William Murphy
Secretary
Catherine Murphy
Company Number
SC285388 (Scotland)
Registered Office
Unit 4, Maritime Court 8 Cartside Avenue Inchinnan PA4 9RX
Accountants
CLA Accountancy Services Ltd 2 Brierie Hill Grove Houston Renfrewshire PA6 7BW
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Lawrie (Furnishings) Limited Statement of financial position as at 31 March 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
112,193 
126,681 
Current assets
Inventories
25,000 
25,000 
Debtors
342,455 
302,649 
Cash at bank and in hand
127,053 
161,639 
494,508 
489,288 
Creditors: amounts falling due within one year
(237,894)
(209,978)
Net current assets
256,614 
279,310 
Total assets less current liabilities
368,807 
405,991 
Creditors: amounts falling due after more than one year
(225,655)
(257,009)
Provisions for liabilities
Deferred tax
(21,317)
(25,298)
Net assets
121,835 
123,684 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
121,833 
123,682 
Shareholders' funds
121,835 
123,684 
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 9 August 2022 and were signed on its behalf by
William Murphy Director Company Registration No. SC285388
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Lawrie (Furnishings) Limited Notes to the Accounts for the year ended 31 March 2022
1
Statutory information
Lawrie (Furnishings) Limited is a private company, limited by shares, registered in Scotland, registration number SC285388. The registered office is Unit 4, Maritime Court, 8 Cartside Avenue, Inchinnan, PA4 9RX.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10%/50% straight line
Plant & machinery
20% straight line
Motor vehicles
25% straight line
Computer equipment
33% straight line
Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Lawrie (Furnishings) Limited Notes to the Accounts for the year ended 31 March 2022
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 April 2021
22,387 
17,445 
246,606 
14,612 
301,050 
Additions
- 
449 
60,000 
- 
60,449 
At 31 March 2022
22,387 
17,894 
306,606 
14,612 
361,499 
Depreciation
At 1 April 2021
7,114 
16,337 
137,114 
13,804 
174,369 
Charge for the year
2,105 
224 
71,935 
673 
74,937 
At 31 March 2022
9,219 
16,561 
209,049 
14,477 
249,306 
Net book value
At 31 March 2022
13,168 
1,333 
97,557 
135 
112,193 
At 31 March 2021
15,273 
1,108 
109,492 
808 
126,681 
2022 
2021 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Motor vehicles
- 
105,119 
5
Debtors: amounts falling due within one year
2022 
2021 
£ 
£ 
Trade debtors
331,636 
283,823 
Amounts due from group undertakings etc.
4,894 
3,794 
Other debtors
5,925 
15,032 
342,455 
302,649 
6
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Obligations under finance leases and hire purchase contracts
53,938 
42,804 
Trade creditors
117,496 
75,736 
Taxes and social security
61,175 
81,467 
Other creditors
1,801 
7,471 
Loans from directors
1,213 
- 
Accruals
2,271 
2,500 
237,894 
209,978 
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Lawrie (Furnishings) Limited Notes to the Accounts for the year ended 31 March 2022
7
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
118,646 
150,000 
Obligations under finance leases and hire purchase contracts
107,009 
107,009 
225,655 
257,009 
8
Loans to directors
Included in creditors is an amount due to the director of £1,213 (2021: debtor £6,687). The loan is interest free, unsecured, and was repaid within 9 months of the year end.
9
Transactions with related parties
During the year, dividends of £112,000 (2021 - £112,00) were paid to the parent company, Murphy Furnishings Limited. The company also purchased goods and services totallng £Nil (2021 £Nil) and fixed assets of £Nil (2021 £Nil) from the parent company. Included in debtors is an amount due from the parent company £4,894 (2021 - £3,794). This loan is interest free, unsecured and no repayment terms have been established.
10
Controlling party
The ultimate parent company is Murphy Furnishings Limited (Company Number SC396662), a company with registered offices at Threeply Farm, Torr Road, Bridge of Weir, Renfrewshire, PA11 3RT.
11
Average number of employees
During the year the average number of employees was 26 (2021: 24).
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