Vicky Lawton Limited
Unaudited Financial Statements
For the year ended 31 October 2023
Pages for Filing with Registrar
Company Registration No. 10449693 (England and Wales)
Vicky Lawton Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Vicky Lawton Limited
Balance Sheet
As at 31 October 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
3,040
4,053
Current assets
Debtors
4
119,483
Cash at bank and in hand
447,800
343,028
567,283
343,028
Creditors: amounts falling due within one year
5
(94,562)
(19,675)
Net current assets
472,721
323,353
Net assets
475,761
327,406
Capital and reserves
Called up share capital
6
100
100
Profit and loss reserves
475,661
327,306
Total equity
475,761
327,406
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 year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has 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.
The financial statements were approved and signed by the director and authorised for issue on 23 April 2024
V Lawton
Director
Company Registration No. 10449693
Vicky Lawton Limited
Notes to the Financial Statements
For the year ended 31 October 2023
Page 2
1
Accounting policies
Company information
Vicky Lawton Limited is a private company limited by shares incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A of 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 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.
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
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.
1.4
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.
1.5
Financial instruments
The company only has basic financial instruments measured at amortised cost.
1.6
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.
Vicky Lawton Limited
Notes to the Financial Statements (Continued)
For the year ended 31 October 2023
1
Accounting policies
(Continued)
Page 3
1.7
Taxation
The tax expense represents the sum of the tax currently payable.
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.
1.8
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.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
Vicky Lawton Limited
Notes to the Financial Statements (Continued)
For the year ended 31 October 2023
Page 4
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022 and 31 October 2023
5,790
Depreciation and impairment
At 1 November 2022
1,737
Depreciation charged in the year
1,013
At 31 October 2023
2,750
Carrying amount
At 31 October 2023
3,040
At 31 October 2022
4,053
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
119,483
5
Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
71,495
11,251
Other taxation and social security
19,676
5,603
Other creditors
202
221
Accruals and deferred income
3,189
2,600
94,562
19,675
6
Called up share capital
2023
2022
Ordinary share capital
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100