(1) General Information
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Lambtoma Limited is a private company limited by shares, domiciled and incorporated in England and Wales. Its registered office is Petronne House, 31 Church Street, Dagenham RM10 9UR. |
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(2) Statement of compliance
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These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime. |
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(3) Significant Accounting Policies
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The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies regime. |
Basis of Preparation
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The financial statements have been prepared on the historical cost basis and in accordance with the Companies Act 2006. The presentation and functional currency of the company is pounds sterling. The financial statements are presented in pound units (£) unless stated otherwise. |
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Property, plant and equipment
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Property, plant and equipment is stated at cost less accumulated depreciation and impairment losses. Part of an item of property, plant and equipment having different useful lives are accounted for as separate items.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives, using the straight-line method. The estimated useful lives, residual values and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate accounted for on a prospective basis.
Depreciation is provided to write off the cost less estimated residual value, of each asset over its expected useful life as follows:
| Asset class and depreciation rate | Land and Buildings | | Plant and Machinery | | Short Leasehold Properties | | Investment Properties | | Long Leasehold Properties | | Commercial Vehicles | | Fixtures and Fittings | | Equipment | | Motor Cars | |
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Employee benefits
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Payments to defined contribution retirement benefit plans are recognised as an expense when employees have rendered service entitling them to the contributions.
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. |
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(4) Critical accounting judgements and key sources of estimation uncertainty
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No judgement
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No significant judgements or estimates have been made in preparation of these financial statements. |
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(5) Operating profit
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Operating profit for the year from continuing operations has been arrived after charging: | | 2024 | | 2023 | | £ | | £ | | | | | | Staff costs | - | | 3,717 | | | | | | | | | | | | | | | | | | - | | 3,717 | |
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(6) Employees
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During the year, the average number of employees including director was 0 (2023 : 0). |
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The above numbers are averages for the year and calculated on a full-time equivalent basis. The aggregate payroll costs of the above were: | | | 2024 | | 2023 | | £ | | £ | | Wages and salaries | - | | 3,700 | | | | | Pension contributions | - | | 17 | | - | | 3,717 | |
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(7) Tangible fixed assets
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| Motor Vehicles | | £ | Cost | | As at 01 June 2023 | 2,174 | As at 31 May 2024 | 2,174 | Depreciation | | As at 01 June 2023 | 2,174 | As at 31 May 2024 | 2,174 | Net book value | | As at 31 May 2024 | - | As at 31 May 2023 | - |
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(8) Debtors
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Amounts falling due within one year
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| | | 2024 | | 2023 | | £ | | £ | | Trade debtors | - | | 80 | | | | | | | | | | - | | 80 |
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(9) Creditors: Amounts falling due within one year
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| | | 2024 | | 2023 | | £ | | £ | | Trade creditors | 27 | | 116 | Bank loans and overdrafts | - | | 3,471 | | | | | Other taxes and social security | 4,357 | | 4,357 | Other creditors | 67,921 | | 63,606 | | | | | | 72,305 | | 71,550 |
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(10) Creditors: Amounts falling due after more than one year
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| | | 2024 | | 2023 | | £ | | £ | | Bank loans and overdrafts | 1,624 | | 1,962 | | | | | | | | | | 1,624 | | 1,962 |
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(11) Share capital and reserves
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| Alloted, called up and fully paid: | 2024 | | 2023 | | £ | | £ | | 100 (2023 : 100) Ordinary Shares of £ 1 each | 100 | | 100 | | 100 | | 100 | | Ordinary shares hold equal voting rights. | | Retained earnings | | | 2024 | | | | £ | At 1 June 2023 | | | (59,090) | Loss of the year | | | (1,017) | | | | | At 31 May 2024 | | | (60,107) | |
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