Company registration number 08591941 (England and Wales)
JM LAWRENCE FIRE PROTECTION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
11 De Grey Square
De Grey Road
Colchester
Essex
CO4 5YQ
JM LAWRENCE FIRE PROTECTION LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Statement of changes in equity
4
Notes to the financial statements
5 - 8
JM LAWRENCE FIRE PROTECTION LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr J M Lawrence
Mr S W Caborn
Company number
08591941
Registered office
Hanwick
Hollies Road
Bradwell
Braintree
Essex
England
CM77 8DZ
Accountants
TC Group
11 De Grey Square
De Grey Road
Colchester
Essex
CO4 5YQ
JM LAWRENCE FIRE PROTECTION LIMITED
BALANCE SHEET
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
453
3,639
Current assets
Stocks
625
2,650
Debtors
5
59,808
55,763
Cash at bank and in hand
32,568
4,214
93,001
62,627
Creditors: amounts falling due within one year
6
(44,211)
(28,083)
Net current assets
48,790
34,544
Total assets less current liabilities
49,243
38,183
Provisions for liabilities
(101)
(640)
Net assets
49,142
37,543
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
49,042
37,443
Total equity
49,142
37,543
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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 year 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.
JM LAWRENCE FIRE PROTECTION LIMITED
BALANCE SHEET (CONTINUED)
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 17 January 2024 and are signed on its behalf by:
Mr J M Lawrence
Director
Company Registration No. 08591941
JM LAWRENCE FIRE PROTECTION LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JULY 2023
- 4 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 August 2021
100
37,561
37,661
Period ended 31 July 2022:
Profit and total comprehensive income for the period
-
31,802
31,802
Dividends
-
(31,920)
(31,920)
Balance at 31 July 2022
100
37,443
37,543
Period ended 31 July 2023:
Profit and total comprehensive income for the period
-
77,519
77,519
Dividends
-
(65,920)
(65,920)
Balance at 31 July 2023
100
49,042
49,142
JM LAWRENCE FIRE PROTECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
1
Accounting policies
Company information
Jm Lawrence Fire Protection Limited is a private company limited by shares incorporated in England and Wales. The registered office is Hanwick, Hollies Road, Bradwell, Braintree, Essex, England, CM77 8DZ.
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. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and 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.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional 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.
1.3
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
20% straight line
Computers
20% straight line
Motor vehicles
20% straight line
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.
JM LAWRENCE FIRE PROTECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 6 -
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. 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.
Cost is calculated on a first-in, first out method.
Work in progress is valued at the lower of cost and net realisable value.
1.5
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.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
JM LAWRENCE FIRE PROTECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 7 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
In the opinion of the directors there are no significant judgements or areas of estimation uncertainty.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
2
2
4
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 August 2022
14,795
4,310
32,160
51,265
Additions
333
333
At 31 July 2023
14,795
4,643
32,160
51,598
Depreciation and impairment
At 1 August 2022
14,714
3,968
28,944
47,626
Depreciation charged in the year
81
222
3,216
3,519
At 31 July 2023
14,795
4,190
32,160
51,145
Carrying amount
At 31 July 2023
453
453
At 31 July 2022
81
342
3,216
3,639
JM LAWRENCE FIRE PROTECTION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 8 -
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
48,572
40,773
Other debtors
11,236
14,990
59,808
55,763
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
19
19
Taxation and social security
28,347
21,114
Other creditors
15,845
6,950
44,211
28,083
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100