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COMPANY REGISTRATION NUMBER: 00242274
SAMUEL LUMB & SON LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
31 January 2024
SAMUEL LUMB & SON LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
Contents
Pages
Balance sheet 1
Notes to the financial statements 2 to 3
SAMUEL LUMB & SON LIMITED
BALANCE SHEET
31 January 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
6
363,001
363,001
Current assets
Cash at bank and in hand
129,436
260,787
Creditors: amounts falling due within one year
7
( 4,023)
( 5,066)
------------
------------
Net current assets
125,413
255,721
------------
------------
Total assets less current liabilities
488,414
618,722
------------
------------
Net assets
488,414
618,722
------------
------------
Capital and reserves
Called up share capital
8
5,752
5,752
Share premium account
189,543
1,015
Capital redemption reserve
1,015
189,543
Profit and loss account
292,104
422,412
------------
------------
Shareholders funds
488,414
618,722
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 1 March 2024 , and are signed on behalf of the board by:
N P Lumb
Director
Company registration number: 00242274
SAMUEL LUMB & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 JANUARY 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Gatehead, 86 Manchester Road, Slaithwaite, Huddersfield, HD7 5JB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Investments
Investments are stated at cost and are subject to an annual impairment review.
Rental income
Rental income represents the value of rents receivable during the year.
Depreciation
No depreciation is provided on the freehold property held for investment. SSAP 19 requires properties held for investment to be included in the balance sheet at their open market value. However, the directors consider that to comply with this requirement would involve unjustifiable expense and the properties are continuing to be stated at cost.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Rental income
The rental income is attributable to the company's principal activity which was performed wholly within the United Kingdom.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
6. Tangible assets
Freehold investment property
£
Cost
At 1 February 2023 and 31 January 2024
363,001
------------
Depreciation
At 1 February 2023 and 31 January 2024
------------
Carrying amount
At 31 January 2024
363,001
------------
At 31 January 2023
363,001
------------
The directors consider that the market value of the properties is in line with the carrying value and such that no impairment provision is required.
7. Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
3,733
4,401
Social security and other taxes
290
665
------------
------------
4,023
5,066
------------
------------
8. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
5,752
5,752
5,752
5,752
------------
------------
------------
------------
9. Related party transactions
There is no one controlling party of the company.