Company Registration No. 3712856 (England and Wales)
Lawtrade Limited
Unaudited accounts
for the year ended 29 February 2024
Lawtrade Limited
Unaudited accounts
Contents
Lawtrade Limited
Company Information
for the year ended 29 February 2024
Secretary
Mrs J E Johnstone
Company Number
3712856 (England and Wales)
Registered Office
CONEY HALL, SHARPSBRIDGE LANE
NEWICK
EAST SUSSEX
BN8 4SA
Accountants
Maxwell-Gumbleton & Co.
1 West Street
Lewes
East Sussex
BN7 2NZ
Lawtrade Limited
Statement of financial position
as at 29 February 2024
Tangible assets
8,576
11,434
Cash at bank and in hand
3,406
126
Creditors: amounts falling due within one year
(14,297)
(17,824)
Net current liabilities
(7,427)
(17,698)
Total assets less current liabilities
1,149
(6,264)
Creditors: amounts falling due after more than one year
(1,333)
(2,084)
Net liabilities
(184)
(8,348)
Called up share capital
1
1
Profit and loss account
(185)
(8,349)
Shareholders' funds
(184)
(8,348)
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 November 2024 and were signed on its behalf by
M C Johnstone
Director
Company Registration No. 3712856
Lawtrade Limited
Notes to the Accounts
for the year ended 29 February 2024
Lawtrade Limited is a private company, limited by shares, registered in England and Wales, registration number 3712856. The registered office is CONEY HALL, SHARPSBRIDGE LANE, NEWICK, EAST SUSSEX, BN8 4SA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Investments in shares are included at fair value.
In common with many other businesses, the company has encountered difficult trading conditions owing to the Covid 19 pandemic and, in addition, the issues regarding Brexit and how that will affect the company's operations, create uncertainty over the company's ability to realise its assets and meet it liabilities in the ordinary course of business in the future. However, the directors will continue to support the company and have made operational changes to enable the company to continue to trade. These trading conditions may continue for the foreseeable future, although advancements in medical science continue to improve the outlook and Brexit issues are being resolved, so the directors believe the actions they have taken are sufficient to mitigate any uncertainty and therefore have prepared the financial statements on the going concern basis.
Lawtrade Limited
Notes to the Accounts
for the year ended 29 February 2024
4
Tangible fixed assets
Plant & machinery
At 29 February 2024
36,691
At 29 February 2024
28,115
At 28 February 2023
11,434
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
700
700
Taxes and social security
-
4,782
Other creditors
2,153
8,153
Loans from directors
9,464
3,709
7
Creditors: amounts falling due after more than one year
2024
2023
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
Lawtrade Limited
Notes to the Accounts
for the year ended 29 February 2024
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
10
Average number of employees
During the year the average number of employees was 0 (2023: 0).