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Registered number: 03965243
Lamont Consultants Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
Lamont Consultants Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03965243
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 7,560 4,190
7,560 4,190
CURRENT ASSETS
Stocks 5 3,500 3,250
Debtors 6 105,944 112,282
Cash at bank and in hand 64,059 69,745
173,503 185,277
Creditors: Amounts Falling Due Within One Year 7 (75,885 ) (110,869 )
NET CURRENT ASSETS (LIABILITIES) 97,618 74,408
TOTAL ASSETS LESS CURRENT LIABILITIES 105,178 78,598
Creditors: Amounts Falling Due After More Than One Year 8 (13,310 ) (24,607 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (446 ) (838 )
NET ASSETS 91,422 53,153
CAPITAL AND RESERVES
Called up share capital 9 50 50
Profit and Loss Account 91,372 53,103
SHAREHOLDERS' FUNDS 91,422 53,153
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Benjamin Cocks
Director
25/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Lamont Consultants Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03965243 . The registered office is Unit 3a Westpoint, 39/40 Warple Way, London, W3 0RG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% Straight Line
Plant & Machinery 20% Straight Line
Motor Vehicles 25% Straight Line
Fixtures & Fittings 33.3% Straight Line
Computer Equipment 33.3% Straight Line
2.4. Stocks and Work in Progress
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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Corporation tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loass account because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 4 4
4 4
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2023 27,984 8,505 - 23,045
Additions - - 6,500 -
As at 31 March 2024 27,984 8,505 6,500 23,045
Depreciation
As at 1 April 2023 27,984 5,463 - 22,829
Provided during the period - 1,014 1,625 216
As at 31 March 2024 27,984 6,477 1,625 23,045
Net Book Value
As at 31 March 2024 - 2,028 4,875 -
As at 1 April 2023 - 3,042 - 216
Computer Equipment Total
£ £
Cost
As at 1 April 2023 10,835 70,369
Additions 329 6,829
As at 31 March 2024 11,164 77,198
Depreciation
As at 1 April 2023 9,903 66,179
Provided during the period 604 3,459
As at 31 March 2024 10,507 69,638
Net Book Value
As at 31 March 2024 657 7,560
As at 1 April 2023 932 4,190
5. Stocks
2024 2023
£ £
Finished goods 3,500 3,250
Page 4
Page 5
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 87,494 88,193
Prepayments and accrued income 6,965 6,397
Provision for Bank Loan Interest 648 324
VAT 10,026 15,585
105,133 110,499
Due after more than one year
Provision for Bank Loan Interest (greater than 1 year) 811 1,783
811 1,783
105,944 112,282
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 3,708 34,194
Bank loans and overdrafts 10,648 10,000
Corporation tax 35,342 32,770
Other taxes and social security 3,976 4,060
Credit Card 4,281 5,300
Director: Benjamin Cocks' Business Expenses - 5,716
Accruals and deferred income 1,260 2,159
Amounts owed to related parties 16,670 16,670
75,885 110,869
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 13,310 24,607
13,310 24,607
9. Share Capital
2024 2023
Allotted, called up and fully paid £ £
50 Ordinary C shares of £ 1 each 50 50
Page 5