IRIS Accounts Production v24.3.2.46 02275855 Board of Directors Board of Directors 1.3.23 29.2.24 29.2.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh022758552023-02-28022758552024-02-29022758552023-03-012024-02-29022758552022-02-28022758552022-03-012023-02-28022758552023-02-2802275855ns15:EnglandWales2023-03-012024-02-2902275855ns14:PoundSterling2023-03-012024-02-2902275855ns10:Director12023-03-012024-02-2902275855ns10:Director22023-03-012024-02-2902275855ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2902275855ns10:SmallEntities2023-03-012024-02-2902275855ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2902275855ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2902275855ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2902275855ns10:FullAccounts2023-03-012024-02-2902275855ns10:OrdinaryShareClass12023-03-012024-02-2902275855ns10:Director42023-03-012024-02-2902275855ns10:Director52023-03-012024-02-2902275855ns10:CompanySecretary12023-03-012024-02-2902275855ns10:RegisteredOffice2023-03-012024-02-2902275855ns5:CurrentFinancialInstruments2024-02-2902275855ns5:CurrentFinancialInstruments2023-02-2802275855ns5:ShareCapital2024-02-2902275855ns5:ShareCapital2023-02-2802275855ns5:FurtherSpecificReserve1ComponentTotalEquity2024-02-2902275855ns5:FurtherSpecificReserve1ComponentTotalEquity2023-02-2802275855ns5:RetainedEarningsAccumulatedLosses2024-02-2902275855ns5:RetainedEarningsAccumulatedLosses2023-02-2802275855ns5:LandBuildingsns5:ShortLeaseholdAssets2023-03-012024-02-2902275855ns5:PlantMachinery2023-03-012024-02-2902275855ns5:LandBuildingsns5:ShortLeaseholdAssets2023-02-2802275855ns5:PlantMachinery2023-02-2802275855ns5:LandBuildingsns5:ShortLeaseholdAssets2024-02-2902275855ns5:PlantMachinery2024-02-2902275855ns5:LandBuildingsns5:ShortLeaseholdAssets2023-02-2802275855ns5:PlantMachinery2023-02-2802275855ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2902275855ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2802275855ns5:WithinOneYear2024-02-2902275855ns5:WithinOneYear2023-02-2802275855ns5:BetweenOneFiveYears2024-02-2902275855ns5:BetweenOneFiveYears2023-02-2802275855ns5:AllPeriods2024-02-2902275855ns5:AllPeriods2023-02-2802275855ns10:OrdinaryShareClass12024-02-29
REGISTERED NUMBER: 02275855 (England and Wales)














Unaudited Financial Statements

for the Year Ended 29 February 2024

for

LAMBERTS SURVEYORS LIMITED

LAMBERTS SURVEYORS LIMITED (REGISTERED NUMBER: 02275855)

Contents of the Financial Statements
for the year ended 29 February 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


LAMBERTS SURVEYORS LIMITED

Company Information
for the year ended 29 February 2024







Directors: D G Parkin
P J Vanson
D P Hayes
D H Johnson





Secretary: D P Hayes





Registered office: Aztec Row
3 Berners Road
London
N1 0PW





Registered number: 02275855 (England and Wales)





Accountants: Cooper Parry Advisory Limited
Aissela
46 High Street
Esher
Surrey
KT10 9QY

LAMBERTS SURVEYORS LIMITED (REGISTERED NUMBER: 02275855)

Statement of Financial Position
29 February 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 1,806 2,724

Current assets
Debtors 5 952,909 1,019,845
Cash at bank 323,031 692,778
1,275,940 1,712,623
Creditors
Amounts falling due within one year 6 998,382 1,266,941
Net current assets 277,558 445,682
Total assets less current liabilities 279,364 448,406

Provisions for liabilities 1,953 1,728
Net assets 277,411 446,678

Capital and reserves
Called up share capital 9 21,900 21,900
Other reserves 38,100 38,100
Retained earnings 217,411 386,678
Shareholders' funds 277,411 446,678

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 February 2025 and were signed on its behalf by:



D G Parkin - Director



D P Hayes - Director


LAMBERTS SURVEYORS LIMITED (REGISTERED NUMBER: 02275855)

Notes to the Financial Statements
for the year ended 29 February 2024


1. Statutory information

Lamberts Surveyors 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires
management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is
carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which
ultimately prove to be uncollectable.

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

Fee income represents revenue earned under a wide variety of contracts to provide professional services. Revenue is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under these contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects the partial performance of the contractual obligations. For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed. Revenue not billed to the client is included in debtors as accrued income and payments on account in excess of the relevant amount of revenue are included in creditors as deferred income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - Straight line over 10 years
Plant and machinery - 25% on cost

LAMBERTS SURVEYORS LIMITED (REGISTERED NUMBER: 02275855)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

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.

3. Employees and directors

The average number of employees during the year was 40 (2023 - 42 ) .

LAMBERTS SURVEYORS LIMITED (REGISTERED NUMBER: 02275855)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


4. Tangible fixed assets
Short Plant and
leasehold machinery Totals
£    £    £   
Cost
At 1 March 2023
and 29 February 2024 3,157 44,108 47,265
Depreciation
At 1 March 2023 1,763 42,778 44,541
Charge for year 315 603 918
At 29 February 2024 2,078 43,381 45,459
Net book value
At 29 February 2024 1,079 727 1,806
At 28 February 2023 1,394 1,330 2,724

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 209,034 297,767
Amounts owed by group undertakings 133,026 132,273
Other debtors 610,849 589,805
952,909 1,019,845

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts (see note 7) 51,825 -
Trade creditors 443,155 457,244
Taxation and social security 378,694 574,615
Other creditors 124,708 235,082
998,382 1,266,941

7. Loans

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 51,825 -

8. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 39,234 61,660
Between one and five years 119,740 172,109
158,974 233,769

LAMBERTS SURVEYORS LIMITED (REGISTERED NUMBER: 02275855)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
21,900 Ordinary 1 21,900 21,900

10. Client monies

At 29 February 2024, the company held monies totalling £9,590,975 (2023: £10,402,748) which were held in trust and that amount is represented by an equal liability to those clients. These amounts are not reflected in the accounts.