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REGISTERED NUMBER: 05120747 (England and Wales)














Financial Statements

for the Year Ended 31 March 2024

for

Underwood Lamb Professional Services Ltd

Underwood Lamb Professional Services Ltd (Registered number: 05120747)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Underwood Lamb Professional Services Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: R W Podger





REGISTERED OFFICE: Ground Floor, The Old Barn
Lady Farm
Chelwood
Bristol
BS39 4NN





REGISTERED NUMBER: 05120747 (England and Wales)





ACCOUNTANTS: Underwood Lamb Professional Services Ltd
Ground Floor, The Old Barn
Lady Farm
Chelwood
Bristol
BS39 4NN

Underwood Lamb Professional Services Ltd (Registered number: 05120747)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,099 9,538

CURRENT ASSETS
Stocks 22,250 20,250
Debtors 5 35,999 18,148
Prepayments and accrued income 3,957 22,326
Cash at bank and in hand 178,910 202,221
241,116 262,945
CREDITORS
Amounts falling due within one year 6 68,754 87,327
NET CURRENT ASSETS 172,362 175,618
TOTAL ASSETS LESS CURRENT
LIABILITIES

180,461

185,156

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7 180,361 185,056
SHAREHOLDERS' FUNDS 180,461 185,156

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 26 November 2024 and were signed by:




R W Podger - Director


Underwood Lamb Professional Services Ltd (Registered number: 05120747)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Underwood Lamb Professional Services 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.

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.
Plant and machinery - 25% on cost
Fixtures and fittings - 15% on cost
Computer equipment - 25% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

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.

Underwood Lamb Professional Services Ltd (Registered number: 05120747)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 1,582 3,086 26,114 30,782
Additions 75 - 2,576 2,651
At 31 March 2024 1,657 3,086 28,690 33,433
DEPRECIATION
At 1 April 2023 1,352 1,033 18,859 21,244
Charge for year 141 396 3,553 4,090
At 31 March 2024 1,493 1,429 22,412 25,334
NET BOOK VALUE
At 31 March 2024 164 1,657 6,278 8,099
At 31 March 2023 230 2,053 7,255 9,538

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 32,869 15,018
Other debtors 3,130 3,130
35,999 18,148

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 21,667 31,667
Trade creditors 966 13,712
Taxation and social security 39,051 37,249
Other creditors 7,070 4,699
68,754 87,327

7. RESERVES
Retained
earnings
£   

At 1 April 2023 185,056
Profit for the year 45,305
Dividends (50,000 )
At 31 March 2024 180,361

Underwood Lamb Professional Services Ltd (Registered number: 05120747)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. ULTIMATE CONTROLLING PARTY

The company is owned in the majority (80%) and controlled by the director.