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Registered Number: 04436686
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 May 2024

for

JOHN LAW AND SON LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 4 8,036    10,621 
8,036    10,621 
Current assets      
Stocks 5 581    581 
Debtors 6 9,123    514 
Cash at bank and in hand 16,134    23,795 
25,838    24,890 
Creditors: amount falling due within one year 7 (11,326)   (12,720)
Net current assets 14,512    12,170 
 
Total assets less current liabilities 22,548    22,791 
Creditors: amount falling due after more than one year 8 (5,208)   (7,708)
Provisions for liabilities 9 (2,009)   (2,018)
Net assets 15,331    13,065 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 15,231    12,965 
Shareholders' funds 15,331    13,065 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 13 February 2025 and were signed by:


-------------------------------
James Law
Director
1
General Information
John Law And Son Limited is a private company, limited by shares, registered in England and Wales, registration number 04436686, registration address Oberon House , Ferries Street , Hull , East Yorkshire, HU9 1RL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Computer Equipment 20% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 1 (2023 : 1).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 June 2023 15,000    15,000 
Additions  
Disposals  
At 31 May 2024 15,000    15,000 
Amortisation
At 01 June 2023 15,000    15,000 
Charge for year  
On disposals  
At 31 May 2024 15,000    15,000 
Net book values
At 31 May 2024  
At 31 May 2023  


4.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 June 2023 4,483    27,140    2,857    34,480 
Additions      
Disposals      
At 31 May 2024 4,483    27,140    2,857    34,480 
Depreciation
At 01 June 2023 3,232    17,943    2,684    23,859 
Charge for year 250    2,300    35    2,585 
On disposals      
At 31 May 2024 3,482    20,243    2,719    26,444 
Net book values
Closing balance as at 31 May 2024 1,001    6,897    138    8,036 
Opening balance as at 01 June 2023 1,251    9,197    173    10,621 


5.

Stocks

2024
£
  2023
£
Stocks 581    581 
581    581 

6.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 7,762   
Prepayments & Accrued Income 761    514 
VAT 600   
9,123    514 

7.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 843   
Bank Loans & Overdrafts 2,500    2,500 
Corporation Tax 5,362    7,095 
Accrued Expenses 1,329    1,313 
Obligations under HP/Financial Leases   871 
Directors' Current Accounts 1,292    742 
VAT   199 
11,326    12,720 

8.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts 5,208    7,708 
5,208    7,708 

9.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 2,009    2,018 
2,009    2,018 

2