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Company Registration No. 09010872 (England and Wales)
Lacey Wholesale Limited Unaudited accounts for the year ended 28 February 2023
Lacey Wholesale Limited Unaudited accounts Contents
Page
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Lacey Wholesale Limited Company Information for the year ended 28 February 2023
Directors
Mr. Frederick Thomas Lacey Mrs. Katherine Rose Lacey
Company Number
09010872 (England and Wales)
Registered Office
17-19 St. George's Street Norwich Norfolk NR3 1AB England
Accountants
Together Accounting Limited 17-19 St Georges Street Norwich Norfolk NR3 1AB
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Lacey Wholesale Limited Accountants' report
Accountants' report to the board of directors of Lacey Wholesale Limited on the preparation of the unaudited statutory accounts for the year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lacey Wholesale Limited for the year ended 28 February 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Lacey Wholesale Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Lacey Wholesale Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lacey Wholesale Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Lacey Wholesale Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Lacey Wholesale Limited. You consider that Lacey Wholesale Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Lacey Wholesale Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Together Accounting Limited 17-19 St Georges Street Norwich Norfolk NR3 1AB 14 November 2023
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Lacey Wholesale Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
21,214 
41,109 
Current assets
Inventories
105,000 
101,000 
Debtors
220,457 
160,600 
Cash at bank and in hand
114,613 
106,852 
440,070 
368,452 
Creditors: amounts falling due within one year
(136,998)
(190,956)
Net current assets
303,072 
177,496 
Total assets less current liabilities
324,286 
218,605 
Provisions for liabilities
Deferred tax
(4,112)
- 
Other provisions
(23,749)
(23,749)
(27,861)
(23,749)
Net assets
296,425 
194,856 
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
295,425 
193,856 
Shareholders' funds
296,425 
194,856 
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 directors acknowledge their 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 of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by
Mrs. Katherine Rose Lacey Director Company Registration No. 09010872
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Lacey Wholesale Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Lacey Wholesale Limited is a private company, limited by shares, registered in England and Wales, registration number 09010872. The registered office is 17-19 St. George's Street, Norwich, Norfolk, NR3 1AB, 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.
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 Method
Motor vehicles
25% - Straight Line Method
Fixtures & fittings
15% - Reducing Balance Method
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Lacey Wholesale Limited Notes to the Accounts for the year ended 28 February 2023
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2022
- 
54,964 
1,400 
56,364 
Additions
108 
- 
- 
108 
Disposals
- 
(13,333)
- 
(13,333)
At 28 February 2023
108 
41,631 
1,400 
43,139 
Depreciation
At 1 March 2022
- 
14,696 
559 
15,255 
Charge for the year
18 
6,804 
126 
6,948 
On disposals
- 
(278)
- 
(278)
At 28 February 2023
18 
21,222 
685 
21,925 
Net book value
At 28 February 2023
90 
20,409 
715 
21,214 
At 28 February 2022
- 
40,268 
841 
41,109 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
180,826 
155,756 
Accrued income and prepayments
1,967 
- 
Other debtors
37,664 
4,844 
220,457 
160,600 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
14,044 
3,466 
Trade creditors
77,302 
135,592 
Taxes and social security
45,652 
25,505 
Loans from directors
- 
26,393 
136,998 
190,956 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000 
1,000 
8
Controlling party
The Company is controlled by the Directors who own 100% of the called up share capital.
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).
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