REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 August 2024 |
for |
Lawton Heating Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 August 2024 |
for |
Lawton Heating Limited |
Lawton Heating Limited (Registered number: 05193575) |
Contents of the Financial Statements |
for the Year Ended 31 August 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Lawton Heating Limited |
Company Information |
for the Year Ended 31 August 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2 Heap Bridge |
Bury |
Lancashire |
BL9 7HR |
Lawton Heating Limited (Registered number: 05193575) |
Balance Sheet |
31 August 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
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 were approved by the Board of Directors and authorised for issue on |
Lawton Heating Limited (Registered number: 05193575) |
Notes to the Financial Statements |
for the Year Ended 31 August 2024 |
1. | STATUTORY INFORMATION |
Lawton Heating Limited is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
The financial statements have been prepared on the historical cost basis. |
REVENUE RECOGNITION |
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. |
DEPRECIATION |
Plant and machinery | - |
Motor vehicles | - |
Computer equipment | - |
FINANCIAL INSTRUMENTS |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities |
INCOME TAX |
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. |
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. |
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. |
Lawton Heating Limited (Registered number: 05193575) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
3. | ACCOUNTING POLICIES - continued |
TANGIBLE ASSETS |
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where are valuation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss. |
IMPAIRMENT OF FIXED ASSETS |
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 31 August 2024 |
DEPRECIATION |
At 1 September 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 31 August 2024 |
NET BOOK VALUE |
At 31 August 2024 |
At 31 August 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Lawton Heating Limited (Registered number: 05193575) |
Notes to the Financial Statements - continued |
for the Year Ended 31 August 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
During the year the directors entered into the following advances and credits with the company: |
2024 |
Balance brought Forward | Advances/ (credits) to the driectors | Balance outstanding |
£ | £ | £ |
Mr D. Lawton | (13,211) | (8,597) | (21,808) |
Mrs K. Lawton | (13,211) | (8,596) | (21,807) |
(26,422) | (17,193) | (43,615) |
2023 |
Balance broughtforward | Advances/ (credits) to the directors | Balance outstanding |
£ | £ | £ |
Mr D. Lawton | (17,507) | 4,296 | (13,211) |
Mrs K. Lawton | (17,508) | 4,297 | (13,211) |
(35,015) | 8,593 | (26,422) |