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LEWIS HOWES (SIGNS & ENGRAVING) LIMITED

Unaudited Financial Statements

for the Year Ended 31st October 2023






LEWIS HOWES (SIGNS & ENGRAVING) LIMITED (REGISTERED NUMBER: 02484688)






Contents of the Financial Statements
for the year ended 31st October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LEWIS HOWES (SIGNS & ENGRAVING) LIMITED

Company Information
for the year ended 31st October 2023







DIRECTORS: D A Lewis
Mrs F Lewis





SECRETARY: Mrs F Lewis





REGISTERED OFFICE: Abbey Works
19 Paul Street
Liverpool
Merseyside
L3 6DX





REGISTERED NUMBER: 02484688 (England and Wales)





ACCOUNTANTS: Haines Watts Wirral Limited
1 Abbots Quay
Monks Ferry
Birkenhead
Merseyside
CH41 5LH

LEWIS HOWES (SIGNS & ENGRAVING) LIMITED (REGISTERED NUMBER: 02484688)

Balance Sheet
31st October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 5,226 6,207
Tangible assets 5 75,734 88,185
80,960 94,392

CURRENT ASSETS
Stocks 63,000 63,000
Debtors 6 232,761 211,623
Cash at bank and in hand 65,684 51,557
361,445 326,180
CREDITORS
Amounts falling due within one year 7 168,510 151,187
NET CURRENT ASSETS 192,935 174,993
TOTAL ASSETS LESS CURRENT LIABILITIES 273,895 269,385

CREDITORS
Amounts falling due after more than one
year

8

(15,890

)

(25,757

)

PROVISIONS FOR LIABILITIES (18,641 ) (16,567 )
NET ASSETS 239,364 227,061

CAPITAL AND RESERVES
Called up share capital 9 50 50
Capital redemption reserve 10 50 50
Retained earnings 10 239,264 226,961
SHAREHOLDERS' FUNDS 239,364 227,061

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

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

The directors acknowledge their 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.

LEWIS HOWES (SIGNS & ENGRAVING) LIMITED (REGISTERED NUMBER: 02484688)

Balance Sheet - continued
31st October 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 Board of Directors and authorised for issue on 30th July 2024 and were signed on its behalf by:





D A Lewis - Director


LEWIS HOWES (SIGNS & ENGRAVING) LIMITED (REGISTERED NUMBER: 02484688)

Notes to the Financial Statements
for the year ended 31st October 2023

1. STATUTORY INFORMATION

Lewis Howes (signs & Engraving) 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Over the period of the lease
Plant and machinery - 10% on cost
Motor vehicles - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


LEWIS HOWES (SIGNS & ENGRAVING) LIMITED (REGISTERED NUMBER: 02484688)

Notes to the Financial Statements - continued
for the year ended 31st October 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.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors
Short term creditors are measured at transaction price. Other financial liabilities are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans to / from related parties.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 17 ) .

LEWIS HOWES (SIGNS & ENGRAVING) LIMITED (REGISTERED NUMBER: 02484688)

Notes to the Financial Statements - continued
for the year ended 31st October 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st November 2022
and 31st October 2023 9,804
AMORTISATION
At 1st November 2022 3,597
Charge for year 981
At 31st October 2023 4,578
NET BOOK VALUE
At 31st October 2023 5,226
At 31st October 2022 6,207

5. TANGIBLE FIXED ASSETS
Short Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1st November 2022 59,867 385,655 13,224 458,746
Additions - 1,249 - 1,249
At 31st October 2023 59,867 386,904 13,224 459,995
DEPRECIATION
At 1st November 2022 59,867 299,334 11,360 370,561
Charge for year - 13,234 466 13,700
At 31st October 2023 59,867 312,568 11,826 384,261
NET BOOK VALUE
At 31st October 2023 - 74,336 1,398 75,734
At 31st October 2022 - 86,321 1,864 88,185

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 229,992 187,536
Other debtors 2,769 24,087
232,761 211,623

LEWIS HOWES (SIGNS & ENGRAVING) LIMITED (REGISTERED NUMBER: 02484688)

Notes to the Financial Statements - continued
for the year ended 31st October 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 77,668 79,428
Taxation and social security 54,825 29,003
Other creditors 26,017 32,756
168,510 151,187

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 15,890 25,757

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
50 Ordinary £1 50 50

10. RESERVES
Capital
Retained redemption
earnings reserve Totals
£    £    £   

At 1st November 2022 226,961 50 227,011
Profit for the year 52,303 52,303
Dividends (40,000 ) (40,000 )
At 31st October 2023 239,264 50 239,314

11. RELATED PARTY DISCLOSURES

Included in other creditors is the sum of £22,090 (2022 - £30,110) being due to D A Lewis and Mrs F Lewis, company directors and shareholders.