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REGISTERED NUMBER: 09591623















Financial Statements for the Year Ended 31 May 2024

for

Lawnrite Limited

Lawnrite Limited (Registered number: 09591623)






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




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Lawnrite Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: J P Boon





REGISTERED OFFICE: 31 Walker Avenue
Wolverton Mill
Milton Keynes
MK12 5TW





REGISTERED NUMBER: 09591623





ACCOUNTANTS: Carrington-May
Chartered Certified Accountants
31 Walker Avenue
Wolverton Mill East
Milton Keynes
Buckinghamshire
MK12 5TW

Lawnrite Limited (Registered number: 09591623)

Abridged Statement of Financial Position
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 23,052 40,480
23,052 40,480

CURRENT ASSETS
Stocks 2,486 2,124
Debtors 22,738 13,154
Cash at bank 8,822 1,028
34,046 16,306
CREDITORS
Amounts falling due within one year 33,894 29,795
NET CURRENT ASSETS/(LIABILITIES) 152 (13,489 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,204

26,991

CREDITORS
Amounts falling due after more than one
year

(6,678

)

(16,818

)

PROVISIONS FOR LIABILITIES (4,380 ) (3,016 )
NET ASSETS 12,146 7,157

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 12,145 7,156
SHAREHOLDERS' FUNDS 12,146 7,157

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Lawnrite Limited (Registered number: 09591623)

Abridged Statement of Financial Position - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 6 January 2025 and were signed by:





J P Boon - Director


Lawnrite Limited (Registered number: 09591623)

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

1. STATUTORY INFORMATION

Lawnrite Limited is a private company, limited by shares , registered in Not specified/Other. 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.

The company is trading at a profit. In addition the company meets its liabilities as they fall due. On this basis, the director considers that the going concern basis of preparation to be appropriate.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Franchise fee
Franchise fee, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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
Motor vehicles - 25% on cost
Computer equipment - 20% on cost

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

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Lawnrite Limited (Registered number: 09591623)

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

2. ACCOUNTING POLICIES - continued

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 June 2023
and 31 May 2024 16,331
AMORTISATION
At 1 June 2023
and 31 May 2024 16,331
NET BOOK VALUE

At 31 May 2024 -
At 31 May 2023 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 27,583 1,259 36,138 4,300 69,280
Additions 1,172 647 - 19 1,838
Disposals (3,407 ) - (6,023 ) (416 ) (9,846 )
At 31 May 2024 25,348 1,906 30,115 3,903 61,272
DEPRECIATION
At 1 June 2023 16,055 799 8,333 3,613 28,800
Charge for year 4,747 387 7,529 254 12,917
Eliminated on disposal (3,084 ) - - (413 ) (3,497 )
At 31 May 2024 17,718 1,186 15,862 3,454 38,220
NET BOOK VALUE
At 31 May 2024 7,630 720 14,253 449 23,052
At 31 May 2023 11,528 460 27,805 687 40,480

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the director owes the company £4,783 (2023 - £1,124 owed to the director). £4,783 is the maximum amount outstanding during the period. Interest has not been paid or accrued on the sum outstanding. There are no fixed repayment terms.The sum has been fully repaid post year end.