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REGISTERED NUMBER: 05120763 (England and Wales)










R K LUCAS & SON LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






R K LUCAS & SON LIMITED (REGISTERED NUMBER: 05120763)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


R K LUCAS & SON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: P K Lucas
Mrs E M Lucas





REGISTERED OFFICE: 45 High Street
Haverfordwest
Pembrokeshire
SA61 2BP





REGISTERED NUMBER: 05120763 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Chartered Accountants
45 High Street
Haverfordwest
Pembrokeshire
SA61 2BP

R K LUCAS & SON LIMITED (REGISTERED NUMBER: 05120763)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 8,220 9,838
Investments 6 1,500 1,500
9,720 11,338

CURRENT ASSETS
Work in progress 31,056 35,299
Debtors 7 28,855 27,573
Cash at bank and in hand 201,398 221,001
261,309 283,873
CREDITORS
Amounts falling due within one year 8 117,815 120,098
NET CURRENT ASSETS 143,494 163,775
TOTAL ASSETS LESS CURRENT
LIABILITIES

153,214

175,113

PROVISIONS FOR LIABILITIES 9 1,530 1,830
NET ASSETS 151,684 173,283

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 151,584 173,183
SHAREHOLDERS' FUNDS 151,684 173,283

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

R K LUCAS & SON LIMITED (REGISTERED NUMBER: 05120763)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 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 Income Statement has not been delivered.

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:





P K Lucas - Director


R K LUCAS & SON LIMITED (REGISTERED NUMBER: 05120763)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

R K Lucas & Son Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 2% straight line
Office equipment - 25% reducing balance
Computer equipment - 25% on cost

Work in progress
Work in progress is valued at selling price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 year 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

R K LUCAS & SON LIMITED (REGISTERED NUMBER: 05120763)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

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 year was 6 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 72,000
AMORTISATION
At 1 July 2022
and 30 June 2023 72,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Improvements
to Office Computer
property equipment equipment Totals
£    £    £    £   
COST
At 1 July 2022 1,625 35,931 16,833 54,389
Additions - - 1,183 1,183
At 30 June 2023 1,625 35,931 18,016 55,572
DEPRECIATION
At 1 July 2022 165 30,790 13,596 44,551
Charge for year 33 1,286 1,482 2,801
At 30 June 2023 198 32,076 15,078 47,352
NET BOOK VALUE
At 30 June 2023 1,427 3,855 2,938 8,220
At 30 June 2022 1,460 5,141 3,237 9,838

R K LUCAS & SON LIMITED (REGISTERED NUMBER: 05120763)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2022
and 30 June 2023 1,500
NET BOOK VALUE
At 30 June 2023 1,500
At 30 June 2022 1,500

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 22,107 21,243
Other debtors 6,748 6,330
28,855 27,573

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,908 4,491
Taxation and social security 10,787 27,395
Other creditors 104,120 88,212
117,815 120,098

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 1,530 1,830

Deferred
tax
£   
Balance at 1 July 2022 1,830
Deferred tax (300 )
Balance at 30 June 2023 1,530

10. RELATED PARTY DISCLOSURES

During the year the directors made funds available to the company to assist with the provision of working capital. The loan was interest free, unsecured and repayable on demand. The amount outstanding at the balance sheet date was as follows; £101,285 (2022 - £85,429)

During the year the company paid £4,800 (2022 - £4,800) to the director's spouse, Mrs E Lucas in consideration for rent.