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REGISTERED NUMBER: 08762117 (England and Wales)












LEWIS AND IRENE LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






LEWIS AND IRENE LIMITED (REGISTERED NUMBER: 08762117)

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


LEWIS AND IRENE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Rev B G Taphouse
Mrs J Taphouse
Mrs H L Richards
B D Taphouse





REGISTERED OFFICE: Koinonia
2 Campion Drive
Romsey
Hampshire
SO51 7RD





REGISTERED NUMBER: 08762117 (England and Wales)

LEWIS AND IRENE LIMITED (REGISTERED NUMBER: 08762117)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 50,801 68,959

CURRENT ASSETS
Stocks 63,780 85,000
Debtors 5 436,499 396,804
Cash at bank and in hand 150,181 171,788
650,460 653,592
CREDITORS
Amounts falling due within one year 6 (395,181 ) (368,226 )
NET CURRENT ASSETS 255,279 285,366
TOTAL ASSETS LESS CURRENT
LIABILITIES

306,080

354,325

CREDITORS
Amounts falling due after more than one
year

7

(28,474

)

(45,220

)

PROVISIONS FOR LIABILITIES (7,132 ) (9,866 )
NET ASSETS 270,474 299,239

CAPITAL AND RESERVES
Called up share capital 200 200
Share premium 24,960 24,960
Retained earnings 245,314 274,079
SHAREHOLDERS' FUNDS 270,474 299,239

LEWIS AND IRENE LIMITED (REGISTERED NUMBER: 08762117)

BALANCE SHEET - continued
31 DECEMBER 2023


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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 December 2024 and were signed on its behalf by:





Rev B G Taphouse - Director


LEWIS AND IRENE LIMITED (REGISTERED NUMBER: 08762117)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Lewis and Irene Limited 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 FRS102 "The Financial Reporting Standards applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value.

The principal accounting policies adopted are set out below.

Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically dispatched to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - Straight line over 10 years
Fixtures and fittings - Straight line over 4 years
Motor vehicles - 25% Reducing balance
Computer equipment - Straight line over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sales proceeds and the carrying value of the asset and is recognised in the statement of income and retained earnings.

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

LEWIS AND IRENE LIMITED (REGISTERED NUMBER: 08762117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method, unless the arrangement constitutes a financial transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial liabilities
Basic financial liabilities which include trade and other payables, are initially measured at transaction price and subsequently measured at amortised cost, unless the arrangement constitutes a financing transaction where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Equity instruments
Equity instruments issued by the company are recorded at the fair value of the proceeds received net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company

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

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

LEWIS AND IRENE LIMITED (REGISTERED NUMBER: 08762117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the period of the lease.

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 6 (2022 - 7 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor Computer
leasehold fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 January 2023 72,137 7,087 48,392 7,760 135,376
Additions - - - 83 83
At 31 December 2023 72,137 7,087 48,392 7,843 135,459
DEPRECIATION
At 1 January 2023 42,642 3,784 13,609 6,382 66,417
Charge for year 7,214 1,421 8,696 910 18,241
At 31 December 2023 49,856 5,205 22,305 7,292 84,658
NET BOOK VALUE
At 31 December 2023 22,281 1,882 26,087 551 50,801
At 31 December 2022 29,495 3,303 34,783 1,378 68,959


5. DEBTORS
2023 2022
£ £
Amounts falling due within one year:
Trade debtors 154,313 182,886
Other debtors 282,186 170,918
436,499 353,804

LEWIS AND IRENE LIMITED (REGISTERED NUMBER: 08762117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. DEBTORS - continued
2023 2022
£ £
Amounts falling due after more than one year:
Other debtors - 43,000

Aggregate amounts 436,499 396,804

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 13,889 33,333
Hire purchase contracts (see note 8) 5,490 5,490
Trade creditors 113,241 169,010
Taxation and social security 167,484 139,284
Other creditors 95,077 21,109
395,181 368,226

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans - 13,889
Hire purchase contracts (see note 8) 28,474 31,331
28,474 45,220

8. LEASING AGREEMENTS

At the balance sheet date, the company entered into operating lease commitments totalling £28,185 (2022 : £42,332).

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 13,889 47,222
Hire purchase contracts 33,964 36,821
47,853 84,043

The company has benefited from the UK government's provision of security for 80% of the Coronavirus Business Interruption Loan.

The hire purchase contracts are secured against the vehicles to which they relate.

LEWIS AND IRENE LIMITED (REGISTERED NUMBER: 08762117)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, advances totalling £8,841(2022: £67,785) were made to the company's directors and £52,163 (2022: £59,873) was repaid prior to the year-end. The balance owed from the directors at the year-end was £36,858 (2022: £80,180).

The loan is repayable on demand and interest is charged at HMRC's approved rate.