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Registration number: 07028443

Lambert-Dowell Ltd

Unaudited Filleted Financial Statements

for the Period from 1 March 2023 to 28 February 2024

 

Lambert-Dowell Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Lambert-Dowell Ltd

Company Information

Directors

Mr CD Lambert-Dowell

Mrs A B Lambert-Dowell

Registered office

Oaklands
1 Green Lane
Selby
North Yorkshire
YO8 9AN

 

Lambert-Dowell Ltd

(Registration number: 07028443)
Balance Sheet as at 28 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

444

696

 

444

696

Current assets

 

Debtors

5

57,255

58,645

Cash at bank and in hand

 

4,616

4,985

 

61,871

63,630

Creditors: Amounts falling due within one year

6

(28,208)

(10,191)

Net current assets

 

33,663

53,439

Total assets less current liabilities

 

34,107

54,135

Creditors: Amounts falling due after more than one year

6

-

(18,500)

Provisions for liabilities

(84)

(132)

Net assets

 

34,023

35,503

Capital and reserves

 

Called up share capital

1

1

Retained earnings

34,022

35,502

Shareholders' funds

 

34,023

35,503

For the financial period ending 28 February 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 accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 September 2024 and signed on its behalf by:
 

 

Lambert-Dowell Ltd

(Registration number: 07028443)
Balance Sheet as at 28 February 2024

.........................................
Mr CD Lambert-Dowell
Director

 

Lambert-Dowell Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Oaklands
1 Green Lane
Selby
North Yorkshire
YO8 9AN

These financial statements were authorised for issue by the Board on 6 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Lambert-Dowell Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

33.33% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Lambert-Dowell Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 3 (2023 - 2).

 

Lambert-Dowell Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

2,031

2,031

At 28 February 2024

2,031

2,031

Depreciation

At 1 March 2023

1,335

1,335

Charge for the period

252

252

At 28 February 2024

1,587

1,587

Carrying amount

At 28 February 2024

444

444

At 28 February 2023

696

696

5

Debtors

2024
£

2023
£

Other debtors

57,255

58,645

57,255

58,645

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

27,348

6,312

Taxation and social security

 

-

3,219

Accruals and deferred income

 

660

660

Other creditors

 

200

-

 

28,208

10,191

7

Loans and borrowings

Non-current loans and borrowings

 

Lambert-Dowell Ltd

Notes to the Unaudited Financial Statements for the Period from 1 March 2023 to 28 February 2024

2024
£

2023
£

Bank borrowings

-

18,500

Current loans and borrowings

2024
£

2023
£

Bank borrowings

-

6,000

Other borrowings

27,348

312

27,348

6,312

8

Related party transactions

Transactions with directors

2024

At 1 March 2023
£

Advances to director
£

Repayments by director
£

At 28 February 2024
£

Mr CD Lambert-Dowell

Director's current account

-

5,752

(5,752)

-

2023

At 1 March 2022
£

Advances to director
£

Repayments by director
£

At 28 February 2023
£

Mr CD Lambert-Dowell

Director's current account

-

79,449

(79,449)

-