Company registration number SC754394 (Scotland)
LAMB AND KERR DEVELOPMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
LAMB AND KERR DEVELOPMENTS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
LAMB AND KERR DEVELOPMENTS LTD
BALANCE SHEET
AS AT
31 JANUARY 2024
31 January 2024
- 1 -
2024
Notes
£
£
Fixed assets
Intangible assets
3
9,400
Current assets
Cash at bank and in hand
1,120
Creditors: amounts falling due within one year
4
(22,944)
Net current liabilities
(21,824)
Net liabilities
(12,424)
Capital and reserves
Called up share capital
5
2
Profit and loss reserves
(12,426)
Total equity
(12,424)
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial Period ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the Period 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 by the board of directors and authorised for issue on 22 July 2024 and are signed on its behalf by:
Mr D Lamb
Director
Company Registration No. SC754394
LAMB AND KERR DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 JANUARY 2024
- 2 -
1
Accounting policies
Company information
Lamb And Kerr Developments Ltd is a private company limited by shares incorporated in Scotland. The registered office is 83 Princes Street, Edinburgh, United Kingdom, EH2 2ER.
1.1
Reporting period
The extended reported period is due to this being the first period of accounts for the company. This is at the decision of the directors'.
1.2
Accounting convention
These financial statements have been prepared in accordance with 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 disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.3
Going concern
At the year end, the company had net liabilities of £12,424. The directors have confirmed that they will continue to provide financial support to the company until such time that the financial position improves. The directors therefore consider it appropriate to prepare the financial statements on a going concern basis.true
1.4
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 inclusive of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.5
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation 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:
Franchise
5 years straight line
1.6
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.
LAMB AND KERR DEVELOPMENTS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 JANUARY 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2024
Number
Total
2
3
Intangible fixed assets
Franchise
£
Cost
At 5 January 2023
Additions
12,000
At 31 January 2024
12,000
Amortisation and impairment
At 5 January 2023
Amortisation charged for the Period
2,600
At 31 January 2024
2,600
Carrying amount
At 31 January 2024
9,400
4
Creditors: amounts falling due within one year
2024
£
Other creditors
21,122
Accruals and deferred income
1,822
22,944
5
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
2
2