Company registration number 13891936 (England and Wales)
Lumb Group Ltd
Unaudited
financial statements
for the period ended 28 February 2023
PAGES FOR FILING WITH REGISTRAR
Lumb Group Ltd
Contents
Page
Statement of financial position
1
Statement of changes in equity
Notes to the financial statements
2 - 3
Lumb Group Ltd
Statement of financial position
as at 28 February 2023
- 1 -
2023
Notes
£
£
Fixed assets
Tangible assets
4
11,690
Current assets
Stocks
12,010
Debtors
5
3,738
Cash at bank and in hand
796
16,544
Creditors: amounts falling due within one year
6
(45,177)
Net current liabilities
(28,633)
Net liabilities
(16,943)
Capital and reserves
Called up share capital
100
Profit and loss reserves
(17,043)
Total equity
(16,943)

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial period ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has 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 October 2023
J R Lumb
Director
Company registration number 13891936 (England and Wales)
Lumb Group Ltd
Notes to the financial statements
for the period ended 28 February 2023
- 2 -
1
Accounting policies
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 amounts 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.

Turnover

Turnover represents the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Turnover is recognised on the performance of a contractual service obligation where a right to consideration is due.

Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
25% reducing balance basis
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Lumb Group Ltd
Notes to the financial statements (continued)
for the period ended 28 February 2023
- 3 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
Total
1
4
Tangible fixed assets
Plant and equipment
£
Cost
At 3 February 2022
-
0
Additions
14,217
At 28 February 2023
14,217
Depreciation and impairment
At 3 February 2022
-
0
Depreciation charged in the period
2,527
At 28 February 2023
2,527
Carrying amount
At 28 February 2023
11,690
5
Debtors
2023
Amounts falling due within one year:
£
Trade debtors
3,738
6
Creditors: amounts falling due within one year
2023
£
Taxation and social security
249
Other creditors
44,178
Accruals and deferred income
750
45,177
7
Company information

Lumb Group Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Bone Heys & Cow Heys Farm, Haugh, Newhey, Rochdale, Lancashire, OL16 3SZ.

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