1 March 2022 false Taxfiler 2023.10 true 3712856business:PrivateLimitedCompanyLtd2022-03-012023-02-28 37128562022-02-28 37128562022-03-012023-02-28 3712856business:AuditExempt-NoAccountantsReport2022-03-012023-02-28 3712856business:FilletedAccounts2022-03-012023-02-28 37128562023-02-28 3712856business:Director12022-03-012023-02-28 3712856business:CompanySecretary12022-03-012023-02-28 3712856business:RegisteredOffice2022-03-012023-02-28 37128562022-02-28 3712856core:WithinOneYear2023-02-28 3712856core:WithinOneYear2022-02-28 3712856core:AfterOneYear2023-02-28 3712856core:AfterOneYear2022-02-28 3712856core:ShareCapitalcore:PreviouslyStatedAmount2023-02-28 3712856core:ShareCapitalcore:PreviouslyStatedAmount2022-02-28 3712856core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-02-28 3712856core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-02-28 3712856core:PreviouslyStatedAmount2023-02-28 3712856core:PreviouslyStatedAmount2022-02-28 3712856business:SmallEntities2022-03-012023-02-28 3712856countries:EnglandWales2022-03-012023-02-28 3712856core:PlantMachinery2022-03-012023-02-28 3712856core:PlantMachinery2022-02-28 3712856core:PlantMachinery2023-02-28 3712856core:RevaluationsIncreaseDecreaseInInvestments2023-02-28 3712856business:OrdinaryShareClass12022-03-012023-02-28 3712856business:OrdinaryShareClass12021-03-012022-02-28 37128562021-03-012022-02-28 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 3712856 (England and Wales)
Lawtrade Limited Unaudited accounts for the year ended 28 February 2023
Lawtrade Limited Unaudited accounts Contents
Page
- 2 -
Lawtrade Limited Company Information for the year ended 28 February 2023
Director
M C Johnstone
Secretary
Mrs J E Johnstone
Company Number
3712856 (England and Wales)
Registered Office
CONEY HALL, SHARPSBRIDGE LANE NEWICK EAST SUSSEX BN8 4SA
Accountants
Maxwell-Gumbleton & Co. 1 West Street Lewes East Sussex BN7 2NZ
- 3 -
Lawtrade Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
11,434 
15,245 
Investments
- 
13,750 
11,434 
28,995 
Current assets
Cash at bank and in hand
126 
411 
Creditors: amounts falling due within one year
(17,824)
(17,269)
Net current liabilities
(17,698)
(16,858)
Total assets less current liabilities
(6,264)
12,137 
Creditors: amounts falling due after more than one year
(2,084)
(2,800)
Net (liabilities)/assets
(8,348)
9,337 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(8,349)
9,336 
Shareholders' funds
(8,348)
9,337 
For the year ending 28 February 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 1 November 2023 and were signed on its behalf by
M C Johnstone Director Company Registration No. 3712856
- 4 -
Lawtrade Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Lawtrade Limited is a private company, limited by shares, registered in England and Wales, registration number 3712856. The registered office is CONEY HALL, SHARPSBRIDGE LANE, NEWICK, EAST SUSSEX, BN8 4SA.
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.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 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:
Plant & machinery
25% reducing balance
Investments
Investments in shares are included at fair value.
Going concern
In common with many other businesses, the company has encountered difficult trading conditions owing to the Covid 19 pandemic and, in addition, the issues regarding Brexit and how that will affect the company's operations, create uncertainty over the company's ability to realise its assets and meet it liabilities in the ordinary course of business in the future. However, the directors will continue to support the company and have made operational changes to enable the company to continue to trade. These trading conditions may continue for the foreseeable future, although advancements in medical science continue to improve the outlook and Brexit issues are being resolved, so the directors believe the actions they have taken are sufficient to mitigate any uncertainty and therefore have prepared the financial statements on the going concern basis.
- 5 -
Lawtrade Limited Notes to the Accounts for the year ended 28 February 2023
4
Tangible fixed assets
Plant & machinery 
£ 
Cost or valuation
At cost 
At 1 March 2022
36,691 
At 28 February 2023
36,691 
Depreciation
At 1 March 2022
21,446 
Charge for the year
3,811 
At 28 February 2023
25,257 
Net book value
At 28 February 2023
11,434 
At 28 February 2022
15,245 
5
Investments
Other investments 
£ 
Valuation at 1 March 2022
13,750 
Fair value adjustments
(13,750)
Valuation at 28 February 2023
- 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
700 
700 
VAT
- 
184 
Taxes and social security
4,782 
4,541 
Other creditors
8,153 
8,153 
Loans from directors
3,709 
2,731 
Accruals
480 
960 
17,824 
17,269 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
2,084 
2,800 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
9
Average number of employees
During the year the average number of employees was 0 (2022: 0).
- 6 -