Lawrence Rose Limited
Registered number: 04493807
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 53,791 60,908
Investments 4 121,912 110,062
175,703 170,970
Current assets
Debtors 5 36,784 46,393
Cash at bank and in hand 495,943 386,569
532,727 432,962
Creditors: amounts falling due within one year 6 (114,554) (101,988)
Net current assets 418,173 330,974
Total assets less current liabilities 593,876 501,944
Provisions for liabilities (14,255) (16,141)
Net assets 579,621 485,803
Capital and reserves
Called up share capital 2,000 2,000
Profit and loss account 577,621 483,803
Shareholders' funds 579,621 485,803
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
I Lawrence
Director
Approved by the board on 20 September 2024
Lawrence Rose Limited
Notes to the Accounts
for the year ended 30 April 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 section 1(a), The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the time incurred for work performed to date to the total estimated contract time.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles over 10 years
Plant and machinery over 3 years
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 8,367 83,340 91,707
Additions 2,984 - 2,984
At 30 April 2024 11,351 83,340 94,691
Depreciation
At 1 May 2023 6,570 24,229 30,799
Charge for the year 1,769 8,332 10,101
At 30 April 2024 8,339 32,561 40,900
Net book value
At 30 April 2024 3,012 50,779 53,791
At 30 April 2023 1,797 59,111 60,908
4 Investments
Other
investments
£
Cost
At 1 May 2023 110,062
Additions 13,140
Disposals (1,290)
At 30 April 2024 121,912
5 Debtors 2024 2023
£ £
Trade debtors 23,551 25,422
Director's loan account - 7,042
Other debtors 13,233 13,929
36,784 46,393
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 3,523 3,179
Corporation tax 51,501 63,044
Other taxes and social security costs 26,185 24,807
Director's loan account 19,809 -
Other creditors 13,536 10,958
114,554 101,988
7 Other financial commitments 2024 2023
£ £
Total future minimum payments under non-cancellable operating leases 2,964 12,597
8 Other information
Lawrence Rose Limited is a private company limited by shares and incorporated in England. Its registered office is:
Basepoint Business Centre
Rivermead Drive
Swindon
Wilts
SN57EX
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