REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
FOR |
THOMAS LOWE & SONS (CORN MERCHANTS) |
LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2023 |
FOR |
THOMAS LOWE & SONS (CORN MERCHANTS) |
LIMITED |
THOMAS LOWE & SONS (CORN MERCHANTS) |
LIMITED (REGISTERED NUMBER: 01908045) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 July 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
THOMAS LOWE & SONS (CORN MERCHANTS) |
LIMITED |
COMPANY INFORMATION |
for the Year Ended 31 July 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Douglas Bank House |
Wigan Lane |
Wigan |
Lancashire |
WN1 2TB |
BANKERS: |
45 Penny Street |
Lancaster |
LA1 1UE |
THOMAS LOWE & SONS (CORN MERCHANTS) |
LIMITED (REGISTERED NUMBER: 01908045) |
STATEMENT OF FINANCIAL POSITION |
31 July 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
THOMAS LOWE & SONS (CORN MERCHANTS) |
LIMITED (REGISTERED NUMBER: 01908045) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 July 2023 |
1. | STATUTORY INFORMATION |
Thomas Lowe & Sons (Corn Merchants) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, stated net of value added tax. |
Tangible fixed assets |
Improvements to property | - |
Furniture and equipment | - |
Fixtures and fittings | - |
Tangible fixed assets are stated at cost less depreciation. |
Financial instruments |
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts. |
Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due. |
Related party loans have no stated interest rate, are payable on demand and are measured at the undiscounted amount due. |
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 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. |
Leases |
Rentals payable under operating leases are charged to profit or loss on a straight line basis over the term of the lease. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
THOMAS LOWE & SONS (CORN MERCHANTS) |
LIMITED (REGISTERED NUMBER: 01908045) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 July 2023 |
4. | TANGIBLE FIXED ASSETS |
Improvements | Furniture | Fixtures |
to | and | and |
property | equipment | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2022 |
and 31 July 2023 |
DEPRECIATION |
At 1 August 2022 |
Charge for year |
At 31 July 2023 |
NET BOOK VALUE |
At 31 July 2023 |
At 31 July 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
Tax |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Corporation tax |
Directors' current accounts | 2,442 | 139 |
Accrued expenses |