Company Registration No. 12283469 (England and Wales)
LAWRENCE WILLIAM MORLEY LTD
Unaudited accounts
for the year ended 31 March 2023
LAWRENCE WILLIAM MORLEY LTD
Unaudited accounts
Contents
LAWRENCE WILLIAM MORLEY LTD
Company Information
for the year ended 31 March 2023
Company Number
12283469 (England and Wales)
Registered Office
23A, QUEENSWAY SOUTH
HERSHAM
WALTON-ON-THAMES
KT12 5QP
ENGLAND
LAWRENCE WILLIAM MORLEY LTD
Statement of financial position
as at 31 March 2023
Investment property
420,000
420,000
Cash at bank and in hand
2,774
11,852
Creditors: amounts falling due within one year
(117,877)
(116,770)
Net current liabilities
(115,103)
(104,918)
Total assets less current liabilities
304,897
315,082
Creditors: amounts falling due after more than one year
(239,438)
(251,225)
Provisions for liabilities
Deferred tax
(13,100)
(12,072)
Called up share capital
1
1
Profit and loss account
52,358
51,784
Shareholders' funds
52,359
51,785
For the year ending 31 March 2023 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 5 October 2023 and were signed on its behalf by
Lawrence Morley
Director
Company Registration No. 12283469
LAWRENCE WILLIAM MORLEY LTD
Notes to the Accounts
for the year ended 31 March 2023
LAWRENCE WILLIAM MORLEY LTD is a private company, limited by shares, registered in England and Wales, registration number 12283469. The registered office is 23A, QUEENSWAY SOUTH, HERSHAM, WALTON-ON-THAMES, KT12 5QP, ENGLAND.
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.
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.
These financial statements comply with Financial Reporting Standard 102 Section 1A.
The accounts have been prepared on a going concern basis. This assumes the ongoing support of the directors.
Revenue is the value of rental income charged to tenants relating to the accounting period.
Investment property is included at fair market value. Gains are recognised in the income statement. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.
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.
Depreciation is not charged on the investment property as land has an unlimited life per FRS 102 Section 17.
Fair value at 1 April 2022
420,000
The investment property is shown at its fair value as estimated by the director based on current market information. Any movements in fair value are recognised in arriving at the profit before tax. Deferred tax is provided against these movements.
LAWRENCE WILLIAM MORLEY LTD
Notes to the Accounts
for the year ended 31 March 2023
5
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
840
545
Loans from directors
113,811
113,149
6
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
239,438
251,225
The bank loan is interest only and for a term of 35 years. There is no penalty for repayment after 2 years. The bank loan is secured by a charge over the investment property of the company.
7
Transactions with related parties
The director loan of £113,811 (2022: £113,149) included within creditors is unsecured, and repayable on demand.
8
Average number of employees
During the year the average number of employees was 0 (2022: 0).