Registered number
04584853
Lamars Decorating Contractors Ltd
Filleted Accounts
31 January 2024
Lamars Decorating Contractors Ltd
Registered number: 04584853
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 3,611 3,824
Tangible assets 4 9,394 11,579
13,005 15,403
Current assets
Stocks 1,000 1,000
Debtors 5 19,164 76,197
20,164 77,197
Creditors: amounts falling due within one year 6 (79,531) (118,412)
Net current liabilities (59,367) (41,215)
Total assets less current liabilities (46,362) (25,812)
Provisions for liabilities (2,700) (3,100)
Net liabilities (49,062) (28,912)
Capital and reserves
Called up share capital 100 100
Profit and loss account (49,162) (29,012)
Shareholders' funds (49,062) (28,912)
The directors are 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 directors acknowledge their 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.
A Lamar
Director
Approved by the board on 10 October 2024
Lamars Decorating Contractors Ltd
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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 costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 10% straight line
Motor vehicles 25% straight line
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
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 9 9
3 Intangible fixed assets £
Goodwill:
Cost
At 1 February 2023 64,250
At 31 January 2024 64,250
Amortisation
At 1 February 2023 60,426
Provided during the year 213
At 31 January 2024 60,639
Net book value
At 31 January 2024 3,611
At 31 January 2023 3,824
Goodwill is being written off in equal annual instalments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 February 2023 16,526 36,690 53,216
At 31 January 2024 16,526 36,690 53,216
Depreciation
At 1 February 2023 11,026 30,611 41,637
Charge for the year 665 1,520 2,185
At 31 January 2024 11,691 32,131 43,822
Net book value
At 31 January 2024 4,835 4,559 9,394
At 31 January 2023 5,500 6,079 11,579
5 Debtors 2024 2023
£ £
Trade debtors 15,111 72,673
Director's current account 3,851 3,323
Other debtors 202 201
19,164 76,197
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 47,651 56,497
Trade creditors 11,385 26,768
Taxation and social security costs 20,495 35,147
79,531 118,412
7 Other information
Lamars Decorating Contractors Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Teignbridge Business Center Cavalier Road, Heathfield, Newton Abbot, Devon, TQ12 6TZ
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