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REGISTERED NUMBER: 09169152 (England and Wales)















R J LAKIN & COMPANY LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






R J LAKIN & COMPANY LTD (REGISTERED NUMBER: 09169152)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R J LAKIN & COMPANY LTD

COMPANY INFORMATION
for the Year Ended 31 DECEMBER 2023







DIRECTORS: Mr H M Cheeseman
Mr R A Moram





REGISTERED OFFICE: 19 Main Street
Great Oxendon
Market Harborough
Northamptonshire
LE16 8NE





REGISTERED NUMBER: 09169152 (England and Wales)





ACCOUNTANTS: Wallace Crooke
College House
St Leonards Close
Bridgnorth
Shropshire
WV16 4EJ

R J LAKIN & COMPANY LTD (REGISTERED NUMBER: 09169152)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 103,367 145,355

CURRENT ASSETS
Debtors 5 1,368 2,230
Cash at bank and in hand 3,813 4,409
5,181 6,639
CREDITORS
Amounts falling due within one year 6 184,248 126,611
NET CURRENT LIABILITIES (179,067 ) (119,972 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(75,700

)

25,383

CREDITORS
Amounts falling due after more than one
year

7

(15,323

)

(36,442

)

PROVISIONS FOR LIABILITIES 8 - (8,654 )
NET LIABILITIES (91,023 ) (19,713 )

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings (91,025 ) (19,715 )
SHAREHOLDERS' FUNDS (91,023 ) (19,713 )

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

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

R J LAKIN & COMPANY LTD (REGISTERED NUMBER: 09169152)

BALANCE SHEET - continued
31 DECEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2024 and were signed on its behalf by:





Mr R A Moram - Director


R J LAKIN & COMPANY LTD (REGISTERED NUMBER: 09169152)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 DECEMBER 2023

1. STATUTORY INFORMATION

R J Lakin & Company Ltd 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.

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.

This may not be appropriate because at 31st December 2023, the company's liabilities exceeded it's assets by £91,023 (2022:£19,713). This Director's however believe that with the ongoing support of the company's shareholders, that it is appropriate to prepare the financial statements on the going concern basis which assumed that the company will continue in operational existence for the foreseeable future.

If the company were unable to continue in operational existence for the foreseeable future, adjustments would have to be made to reduce balance sheet values of assets to their recoverable amounts, and to provide for further liabilities that might arise, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

The company's financial statements are presented in sterling and all values are rounded to the nearest pound.

The company was under the control of Mr R Moram and Mr H Cheeseman throughout the current and previous year.

No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller Entities.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 15% and 10% p.a. reducing balance
Motor vehicles - 20% on reducing balance
Equipment and tools - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


R J LAKIN & COMPANY LTD (REGISTERED NUMBER: 09169152)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Equipment
machinery vehicles and tools Totals
£    £    £    £   
COST
At 1 January 2023 141,440 41,819 1,794 185,053
Additions 19,165 - 5,957 25,122
Disposals (58,425 ) - - (58,425 )
At 31 December 2023 102,180 41,819 7,751 151,750
DEPRECIATION
At 1 January 2023 22,303 16,847 548 39,698
Charge for year 11,006 4,994 1,441 17,441
Eliminated on disposal (8,756 ) - - (8,756 )
At 31 December 2023 24,553 21,841 1,989 48,383
NET BOOK VALUE
At 31 December 2023 77,627 19,978 5,762 103,367
At 31 December 2022 119,137 24,972 1,246 145,355

R J LAKIN & COMPANY LTD (REGISTERED NUMBER: 09169152)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2023 36,300
Disposals (36,300 )
At 31 December 2023 -
DEPRECIATION
At 1 January 2023 3,630
Eliminated on disposal (3,630 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 32,670

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Other debtors 1,368 2,230

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Bank loans and overdrafts 4,000 4,000
Hire purchase contracts 5,270 22,748
Trade creditors - 1,225
Taxation and social security 2,567 3,023
Other creditors 172,411 95,615
184,248 126,611

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/23 31/12/22
£    £   
Bank loans 7,333 11,333
Hire purchase contracts 7,990 25,109
15,323 36,442

8. PROVISIONS FOR LIABILITIES
31/12/23 31/12/22
£    £   
Deferred tax - 8,654

R J LAKIN & COMPANY LTD (REGISTERED NUMBER: 09169152)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 DECEMBER 2023

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 8,654
Provided during year (8,654 )
Balance at 31 December 2023 -

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/23 31/12/22
value: £    £   
2 Ordinary £1 2 2