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REGISTERED NUMBER: 05796913 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th April 2024

for

LOMAS OFFICE FURNITURE & STATIONERY
LIMITED

LOMAS OFFICE FURNITURE & STATIONERY
LIMITED (REGISTERED NUMBER: 05796913)






Contents of the Financial Statements
for the Year Ended 30th April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LOMAS OFFICE FURNITURE & STATIONERY
LIMITED

Company Information
for the Year Ended 30th April 2024







DIRECTORS: Mr M Rolfe
Mrs C Rolfe





REGISTERED OFFICE: 41 St Thomas' Road
Chorley
Lancashire
PR7 1JE





REGISTERED NUMBER: 05796913 (England and Wales)





ACCOUNTANTS: Abrams Ashton - Chorley Limited
Chartered Certified Accountants
41 St Thomas's Road
Chorley
Lancashire
PR7 1JE

LOMAS OFFICE FURNITURE & STATIONERY
LIMITED (REGISTERED NUMBER: 05796913)

Balance Sheet
30th April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,024 22,126

CURRENT ASSETS
Stocks 48,000 38,000
Debtors 5 77,860 117,555
Cash at bank and in hand 42,847 20,366
168,707 175,921
CREDITORS
Amounts falling due within one year 6 111,868 100,705
NET CURRENT ASSETS 56,839 75,216
TOTAL ASSETS LESS CURRENT
LIABILITIES

87,863

97,342

CREDITORS
Amounts falling due after more than one
year

7

113,576

115,764
NET LIABILITIES (25,713 ) (18,422 )

CAPITAL AND RESERVES
Called up share capital 10 105 105
Retained earnings (25,818 ) (18,527 )
SHAREHOLDERS' FUNDS (25,713 ) (18,422 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 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.

LOMAS OFFICE FURNITURE & STATIONERY
LIMITED (REGISTERED NUMBER: 05796913)

Balance Sheet - continued
30th April 2024


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 Board of Directors and authorised for issue on 17th January 2025 and were signed on its behalf by:





Mr M Rolfe - Director


LOMAS OFFICE FURNITURE & STATIONERY
LIMITED (REGISTERED NUMBER: 05796913)

Notes to the Financial Statements
for the Year Ended 30th April 2024

1. STATUTORY INFORMATION

Lomas Office Furniture & Stationery 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 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.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts received for goods supplied, stated net of discounts and of Value Added Tax.

Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.3% on cost

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


LOMAS OFFICE FURNITURE & STATIONERY
LIMITED (REGISTERED NUMBER: 05796913)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

2. ACCOUNTING POLICIES - continued
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.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held with banks, and bank overdrafts. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 5 ) .

LOMAS OFFICE FURNITURE & STATIONERY
LIMITED (REGISTERED NUMBER: 05796913)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor Computer
property fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st May 2023 13,703 13,277 35,168 8,942 71,090
Additions - - 20,975 - 20,975
Disposals - - (15,450 ) - (15,450 )
At 30th April 2024 13,703 13,277 40,693 8,942 76,615
DEPRECIATION
At 1st May 2023 2,398 11,437 30,064 5,065 48,964
Charge for year 2,741 277 5,749 1,781 10,548
Eliminated on disposal - - (13,921 ) - (13,921 )
At 30th April 2024 5,139 11,714 21,892 6,846 45,591
NET BOOK VALUE
At 30th April 2024 8,564 1,563 18,801 2,096 31,024
At 30th April 2023 11,305 1,840 5,104 3,877 22,126

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 71,764 111,208
Prepayments 6,096 6,347
77,860 117,555

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 90,083 85,927
Social security and other taxes 782 960
VAT 3,100 3,721
Other creditors 1,730 940
Directors' current accounts 12,000 6,000
Accruals and deferred income 4,173 3,157
111,868 100,705

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Directors' loan account 42,537 44,725
Other creditors 71,039 71,039
113,576 115,764

LOMAS OFFICE FURNITURE & STATIONERY
LIMITED (REGISTERED NUMBER: 05796913)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
30.4.24 30.4.23
£    £   
Within one year 15,000 15,000
Between one and five years - 15,000
15,000 30,000

9. SECURED DEBTS

The company's bank overdraft facility is secured by the bank, by way of a fixed and floating charge over all of the company's assets.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
105 Ordinary £1 105 105

11. RELATED PARTY DISCLOSURES

As at 30th April 2024, the company owed to its directors £54,537 (2023: £50,725). No interest has been charged to the company in respect of this loan and there is no formal repayment date for this loan. £42,537 (2023: £44,725) of the loan is classified in creditors due after more than one year.

As at 30th April 2024, the company owed £71,039 (2023: £71,039) to Mr R & Mrs A Lomas, former directors of the company and classified as other creditors due after more than one year. No interest has been charged to the company in respect of this loan and there is no formal repayment date for this loan.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr and Mrs Rolfe.

During the year, the directors Mr and Mrs Rolfe controlled the company by virtue of holding 95% of the issued share capital.