Company registration number 11296209 (England and Wales)
LAWRENCE GEO SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2021
PAGES FOR FILING WITH REGISTRAR
LAWRENCE GEO SERVICES LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
LAWRENCE GEO SERVICES LTD
BALANCE SHEET
AS AT
29 APRIL 2021
29 April 2021
- 1 -
29 April 2021
30 April 2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,710
6,898
Current assets
Debtors
4
214,725
83,055
Cash at bank and in hand
507
4,829
215,232
87,884
Creditors: amounts falling due within one year
5
(207,889)
(92,960)
Net current assets/(liabilities)
7,343
(5,076)
Total assets less current liabilities
11,053
1,822
Creditors: amounts falling due after more than one year
6
(42,437)
-
0
Provisions for liabilities
(705)
(1,311)
Net (liabilities)/assets
(32,089)
511
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(32,189)
411
Total equity
(32,089)
511
LAWRENCE GEO SERVICES LTD
BALANCE SHEET (CONTINUED)
AS AT
29 APRIL 2021
29 April 2021
- 2 -

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial Period ended 29 April 2021 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 members have 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 25 November 2023
Mr M R W Lawrence
Director
Company Registration No. 11296209
LAWRENCE GEO SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 29 APRIL 2021
- 3 -
1
Accounting policies
Company information

Lawrence Geo Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Tagus House, 9 Ocean Way, Southampton, Hampshire, United Kingdom, SO14 3TJ.

1.1
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

The Covid-19 pandemic has spread around the globe, with consequential restrictions on movement and events in many countries. With the country entering into lockdown conditions, in line with many other nations across the globe, there has been disruption for the company.

 

The director considers that with the measures introduced to address the impact of the Covid-19 and support from government schemes, this will ensure that the company is in a good position to withstand the economic pressures brought about by the pandemic, and has the ability to continue as a going concern for a period of 12 months from the date of approving these financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for 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.

 

Revenue from contracts for the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
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
Computers
33.33% straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

LAWRENCE GEO SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 APRIL 2021
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets. A provision is made for any impairment loss and taken to the profit and loss account.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company only enters into Basic financial instrument transactions.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.

LAWRENCE GEO SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 APRIL 2021
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in the tax assessments.

 

Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

 

The company's liability for current and deferred tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Employees

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

2021
2020
Number
Number
Total
5
2
LAWRENCE GEO SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 APRIL 2021
- 6 -
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 May 2020
-
0
-
0
10,244
10,244
Additions
1,478
805
-
0
2,283
Disposals
-
0
-
0
(6,644)
(6,644)
At 29 April 2021
1,478
805
3,600
5,883
Depreciation and impairment
At 1 May 2020
-
0
-
0
3,346
3,346
Depreciation charged in the Period
92
125
1,725
1,942
Eliminated in respect of disposals
-
0
-
0
(3,115)
(3,115)
At 29 April 2021
92
125
1,956
2,173
Carrying amount
At 29 April 2021
1,386
680
1,644
3,710
At 30 April 2020
-
0
-
0
6,898
6,898
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
39,775
5,908
Corporation tax recoverable
42,517
17,592
Other debtors
132,433
59,555
214,725
83,055
5
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans
7,563
-
0
Trade creditors
3,141
2,702
Corporation tax
58,839
28,073
Other taxation and social security
129,941
60,429
Other creditors
205
256
Accruals and deferred income
8,200
1,500
207,889
92,960
LAWRENCE GEO SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 29 APRIL 2021
- 7 -
6
Creditors: amounts falling due after more than one year
2021
2020
Notes
£
£
Bank loans and overdrafts
42,437
-
0
7
Directors' transactions

 

Advances or credits have been granted by the company to its directors as follows:

Advances to the director have been charged interest of £2,140.92 (2020: £987.73) based on interest accruing at 2.25% for the period 01.05.20 - 05.04.21 (£1,957.82) and at 2.00% for the period 06.04.21 - 30.04.21 (£183.10), (2022: 2.25%)

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