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REGISTERED NUMBER: 12370380 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Lorford's Limited

Lorford's Limited (Registered number: 12370380)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lorford's Limited

Company Information
for the Year Ended 31 December 2023







Director: T J Lorford





Registered office: 30 Long Street
Tetbury
Gloucestershire
GL8 8AQ





Registered number: 12370380 (England and Wales)





Accountants: Crowthers Chartered Accountants
15 St Georges Road
Cheltenham
Gloucestershire
GL50 3DT

Lorford's Limited (Registered number: 12370380)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 26,355 26,454
26,355 26,454

CURRENT ASSETS
Stocks 145,924 128,356
Debtors 6 117,192 129,196
Cash at bank and in hand 21,762 79,572
284,878 337,124
CREDITORS
Amounts falling due within one year 7 209,808 246,086
NET CURRENT ASSETS 75,070 91,038
TOTAL ASSETS LESS CURRENT
LIABILITIES

101,425

117,492

CREDITORS
Amounts falling due after more than one
year

8

(29,167

)

(39,207

)

PROVISIONS FOR LIABILITIES (1,300 ) -
NET ASSETS 70,958 78,285

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 70,858 78,185
SHAREHOLDERS' FUNDS 70,958 78,285

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Lorford's Limited (Registered number: 12370380)

Balance Sheet - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 March 2024 and were signed by:





T J Lorford - Director


Lorford's Limited (Registered number: 12370380)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Lorford's 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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, is being amortised evenly over its estimated useful life of one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment - 20% straight line
Motor vehicles - 20% straight line
Short leasehold - 20% straight line
Plant and machinery - 20% straight line

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.


Lorford's Limited (Registered number: 12370380)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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 9 (2022 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
Cost
At 1 January 2023
and 31 December 2023 1,000
Amortisation
At 1 January 2023
and 31 December 2023 1,000
Net book value
At 31 December 2023 -
At 31 December 2022 -

Lorford's Limited (Registered number: 12370380)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
Cost
At 1 January 2023 7,004 36,417 43,421
Additions 1,312 8,296 9,608
At 31 December 2023 8,316 44,713 53,029
Depreciation
At 1 January 2023 2,685 14,282 16,967
Charge for year 1,486 8,221 9,707
At 31 December 2023 4,171 22,503 26,674
Net book value
At 31 December 2023 4,145 22,210 26,355
At 31 December 2022 4,319 22,135 26,454

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 323 35,479
Amounts owed by group undertakings 95,581 60,500
Other debtors 21,288 33,217
117,192 129,196

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 9,960
Trade creditors 36,052 11,191
Taxation and social security 58,070 59,490
Other creditors 105,686 165,445
209,808 246,086

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 14,167 24,207
Other creditors 15,000 15,000
29,167 39,207

9. LEASING AGREEMENTS
The company has outstanding lease commitments of £90,000 (2022: £132,500).

Lorford's Limited (Registered number: 12370380)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
T J Lorford
Balance outstanding at start of year 18,000 -
Amounts advanced 44,000 18,000
Amounts repaid (62,042 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (42 ) 18,000

Included within other creditors is £42 (2022: -£18,000) owed to the Director of the company, these loans are unsecured and repayable on demand and interest has been charged at the official rate of 2.25%.

12. RELATED PARTY DISCLOSURES

Included in other debtors is £38,081 owed to Lorford's Holdings Limited and £57,500 owed to Lorford's Antiques Limited, these companies are related by virtue of being part of the same group.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling part is Lorford's Holdings Limited, company registration number 12367552 of 30 Long Street, Tetbury, GL8 8AQ.