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REGISTERED NUMBER: 07455779 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2021

FOR

LAFFORD JAMES LIMITED

LAFFORD JAMES LIMITED (REGISTERED NUMBER: 07455779)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LAFFORD JAMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2021







DIRECTORS: I J Lafford
Mrs C M Lafford





SECRETARY: Mrs C M Lafford





REGISTERED OFFICE: Luminous House
300 South Row
Milton Keynes
MK9 2FR





REGISTERED NUMBER: 07455779 (England and Wales)





ACCOUNTANTS: 80K Limited
59a Day's Lane
Biddenham
Bedford
Bedfordshire
MK40 4AE

LAFFORD JAMES LIMITED (REGISTERED NUMBER: 07455779)

BALANCE SHEET
30 NOVEMBER 2021

2021 2020
Notes £    £   
FIXED ASSETS
Tangible assets 4 43,445 53,547
Investments 5 2,000 -
45,445 53,547

CURRENT ASSETS
Debtors 6 22,750 4,390
Cash at bank 30,400 65,929
53,150 70,319
CREDITORS
Amounts falling due within one year 7 (22,345 ) (23,240 )
NET CURRENT ASSETS 30,805 47,079
TOTAL ASSETS LESS CURRENT
LIABILITIES

76,250

100,626

CREDITORS
Amounts falling due after more than one year 8 (76,188 ) (85,465 )
NET ASSETS 62 15,161

CAPITAL AND RESERVES
Called up share capital 104 104
Retained earnings (42 ) 15,057
SHAREHOLDERS' FUNDS 62 15,161

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LAFFORD JAMES LIMITED (REGISTERED NUMBER: 07455779)

BALANCE SHEET - continued
30 NOVEMBER 2021


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 28 August 2022 and were signed on its behalf by:





I J Lafford - Director


LAFFORD JAMES LIMITED (REGISTERED NUMBER: 07455779)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2021

1. STATUTORY INFORMATION

Lafford James Limited 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and at varying rates on cost

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

LAFFORD JAMES LIMITED (REGISTERED NUMBER: 07455779)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2021

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2020 67,982
Additions 616
At 30 November 2021 68,598
DEPRECIATION
At 1 December 2020 14,435
Charge for year 10,718
At 30 November 2021 25,153
NET BOOK VALUE
At 30 November 2021 43,445
At 30 November 2020 53,547

The net book value of tangible fixed assets includes £ 39,376 (2020 - £ 48,227 ) in respect of assets held under hire purchase contracts.

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 2,000
At 30 November 2021 2,000
NET BOOK VALUE
At 30 November 2021 2,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade debtors 6,149 4,390
Other debtors 16,601 -
22,750 4,390

LAFFORD JAMES LIMITED (REGISTERED NUMBER: 07455779)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2021

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Bank loans and overdrafts 1,833 1,833
Trade creditors 5,812 2,789
Taxation and social security 13,505 14,225
Other creditors 1,195 4,393
22,345 23,240

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2021 2020
£    £   
Bank loans 39,741 42,167
Hire purchase contracts 36,447 43,298
76,188 85,465

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 22,141 24,567