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REGISTERED NUMBER: 01298359 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 MARCH 2022 TO 27 FEBRUARY 2023

FOR

L V TOMLINSON AND SON LIMITED

L V TOMLINSON AND SON LIMITED (REGISTERED NUMBER: 01298359)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1 March 2022 to 27 February 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L V TOMLINSON AND SON LIMITED

COMPANY INFORMATION
for the Period 1 March 2022 to 27 February 2023







DIRECTORS: J L Tomlinson
Mrs C A Tomlinson
A S Tomlinson
Mrs K Tomlinson





REGISTERED OFFICE: Catwick Lane
Brandesburton
Driffield
East Yorkshire
YO25 8RY





REGISTERED NUMBER: 01298359 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

L V TOMLINSON AND SON LIMITED (REGISTERED NUMBER: 01298359)

BALANCE SHEET
27 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 499,397 491,457

CURRENT ASSETS
Stocks 180,810 107,013
Debtors 5 791,346 673,801
Cash at bank and in hand 594,613 549,872
1,566,769 1,330,686
CREDITORS
Amounts falling due within one year 6 436,748 415,112
NET CURRENT ASSETS 1,130,021 915,574
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,629,418

1,407,031

CREDITORS
Amounts falling due after more than one year 7 (11,983 ) -

PROVISIONS FOR LIABILITIES (67,802 ) (42,783 )
NET ASSETS 1,549,633 1,364,248

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 1,547,633 1,362,248
SHAREHOLDERS' FUNDS 1,549,633 1,364,248

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 27 February 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 27 February 2023 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.

L V TOMLINSON AND SON LIMITED (REGISTERED NUMBER: 01298359)

BALANCE SHEET - continued
27 February 2023


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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2023 and were signed on its behalf by:





J L Tomlinson - Director


L V TOMLINSON AND SON LIMITED (REGISTERED NUMBER: 01298359)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1 March 2022 to 27 February 2023


1. STATUTORY INFORMATION

L V Tomlinson and Son Limited is a private company, limited by shares, incorporated and domiciled in England. The company's registered number is 01298359 and its registered office and principal place of business is Catwick Lane, Brandesburton, Driffield, East Yorkshire, YO25 8RY.

The financial statements are presented in Sterling, which is the functional currency of the company and cover the individual entity only.

The principal activity of the company is that of engineering.

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

All sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

L V TOMLINSON AND SON LIMITED (REGISTERED NUMBER: 01298359)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 March 2022 to 27 February 2023


2. ACCOUNTING POLICIES - continued

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.
Freehold property - 2% on reducing balance
Plant and machinery - 20% on reducing balance and 15% on reducing balance
Fixtures and fittings - 33% on reducing balance, 25% on a reducing balance basis and 15% on reducing balance
Motor vehicles - 25% on a reducing balance basis

Tangible fixed assets are held under the historical cost model.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making, due allowance for obsolete and slow moving items. 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. Stock is calculated on the first in first out basis.
In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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 period 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.

L V TOMLINSON AND SON LIMITED (REGISTERED NUMBER: 01298359)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 March 2022 to 27 February 2023


2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 17 (2022 - 17 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 March 2022 321,775 516,142 29,099 144,985 1,012,001
Additions - 89,104 359 - 89,463
Disposals - (81,000 ) - - (81,000 )
At 27 February 2023 321,775 524,246 29,458 144,985 1,020,464
DEPRECIATION
At 1 March 2022 37,001 377,256 25,612 80,675 520,544
Charge for period 4,818 41,130 876 16,077 62,901
Eliminated on disposal - (62,378 ) - - (62,378 )
At 27 February 2023 41,819 356,008 26,488 96,752 521,067
NET BOOK VALUE
At 27 February 2023 279,956 168,238 2,970 48,233 499,397
At 28 February 2022 284,774 138,886 3,487 64,310 491,457

L V TOMLINSON AND SON LIMITED (REGISTERED NUMBER: 01298359)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 March 2022 to 27 February 2023


4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 March 2022 28,299
Additions 83,949
At 27 February 2023 112,248
DEPRECIATION
At 1 March 2022 14,809
Charge for period 15,799
Transfer to ownership (7,734 )
At 27 February 2023 22,874
NET BOOK VALUE
At 27 February 2023 89,374
At 28 February 2022 13,490

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 420,167 511,319
Amounts owed by group undertakings 172,374 52,845
Tax 12,124 -
VAT 184,283 107,261
Prepayments and accrued income 2,398 2,376
791,346 673,801

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 19,181 14,397
Trade creditors 204,140 151,936
Tax 28,913 49,850
Social security and other taxes 9,696 12,380
Other creditors - 2,726
Directors' current accounts 164,047 173,854
Accrued expenses 10,771 9,969
436,748 415,112

L V TOMLINSON AND SON LIMITED (REGISTERED NUMBER: 01298359)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 March 2022 to 27 February 2023


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 11,983 -

8. RELATED PARTY DISCLOSURES

Included within other creditors is a loan to the company from the directors, J L Tomlinson and K Tomlinson. The balance owing at 27 February 2023 was £53,695 (2022: £66,863). The loan was made on an interest free basis and is repayable on demand.

Included within other creditors is a loan to the company from the directors, A S Tomlinson and C A Tomlinson. The balance owing at 27 February 2023 was £98,923 (2022: £106,992). The loan was made on an interest free basis and is repayable on demand.