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REGISTERED NUMBER: 06762354 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31st December 2023

for

Lamorbey Associates Limited

Lamorbey Associates Limited (Registered number: 06762354)






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




Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


Lamorbey Associates Limited (Registered number: 06762354)

Abridged Balance Sheet
31st December 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 23,833 24,311
23,833 24,311

CURRENT ASSETS
Stocks 62,580 32,913
Debtors 202,513 136,414
Cash at bank 193,147 170,363
458,240 339,690
CREDITORS
Amounts falling due within one year 131,590 106,196
NET CURRENT ASSETS 326,650 233,494
TOTAL ASSETS LESS CURRENT
LIABILITIES

350,483

257,805


CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 349,483 256,805
SHAREHOLDERS' FUNDS 350,483 257,805
350,483 257,805

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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.

Lamorbey Associates Limited (Registered number: 06762354)

Abridged Balance Sheet - continued
31st December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 23rd September 2024 and were signed on its behalf by:





Mr J McGowan - Director


Lamorbey Associates Limited (Registered number: 06762354)

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

1. STATUTORY INFORMATION

Lamorbey Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 06762354

Registered office: Unit 4 Orangery Studios
Orangery Lane
Eltham
London
SE9 1HN

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Revenue recognition
Sales comprise the fair value of the consideration received or receivable for the rendering of services in the ordinary course of the company's activities. Sales are presented, net of value-added tax, 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 when specific criteria have been met for each of the company's activities as follows:

Revenue from the rendering of services is recognised at the point at which those services have been provided to the customer. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year. They are subsequently released to the profit and loss in the period the services are rendered.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Work in progress
Work in progress is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Lamorbey Associates Limited (Registered number: 06762354)

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

3. ACCOUNTING POLICIES - continued

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, such as the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Lamorbey Associates Limited (Registered number: 06762354)

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

3. ACCOUNTING POLICIES - continued

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 13 ) .

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st January 2023
and 31st December 2023 210,000
AMORTISATION
At 1st January 2023
and 31st December 2023 210,000
NET BOOK VALUE

At 31st December 2023 -
At 31st December 2022 -

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st January 2023 110,235
Additions 6,775
At 31st December 2023 117,010
DEPRECIATION
At 1st January 2023 85,924
Charge for year 7,253
At 31st December 2023 93,177
NET BOOK VALUE
At 31st December 2023 23,833
At 31st December 2022 24,311

Lamorbey Associates Limited (Registered number: 06762354)

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

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Totals
£   
COST
At 1st January 2023
and 31st December 2023 28,881
DEPRECIATION
At 1st January 2023 8,782
Charge for year 5,025
At 31st December 2023 13,807
NET BOOK VALUE
At 31st December 2023 15,074
At 31st December 2022 20,099