Company registration number 02571749 (England and Wales)
LAMBERT METALS INTERNATIONAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
LAMBERT METALS INTERNATIONAL LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
LAMBERT METALS INTERNATIONAL LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
$
$
$
$
Fixed assets
Tangible assets
3
140,835
167,111
Investments
4
112
112
140,947
167,223
Current assets
Stocks
2,093,469
3,430,923
Debtors
5
2,493,062
1,558,826
Cash at bank and in hand
1,656,279
345,009
6,242,810
5,334,758
Creditors: amounts falling due within one year
6
(932,908)
(377,911)
Net current assets
5,309,902
4,956,847
Total assets less current liabilities
5,450,849
5,124,070
Provisions for liabilities
(31,600)
(4,000)
Net assets
5,419,249
5,120,070
Capital and reserves
Called up share capital
1,680,300
1,680,300
Profit and loss reserves
3,738,949
3,439,770
Total equity
5,419,249
5,120,070

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

LAMBERT METALS INTERNATIONAL LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 28 March 2025
Mr C S Edler
Director
Company registration number 02571749 (England and Wales)
LAMBERT METALS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Lambert Metals International Limited is a private company limited by shares incorporated in England and Wales. The registered office and business address is Laburnum House, University Close, Bushey, Hertfordshire, WD23 3AL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in US Dollars, which is the functional currency of the company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for goods, net of VAT and trade discounts. Revenue from the sale of goods is recognised when the risks and rewards of ownership of the goods have been passed to the buyers.

1.3
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation.

Depreciation is recognised so as to write off the cost of assets over their useful lives on the following bases:

Leasehold land and buildings
20% straight line
Fixtures, fittings & equipment
25% on written down value
Motor vehicles
20% on written down value
1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.5
Stocks

Stock relates to metals owned by the company where it has the risks associated with, and rights to benefit from, ownership. Stock is valued at the lower of purchase price and net realisable value. Net realisable value is calculated having regard to the market price of metals at the year end and after date sales.

1.6
Financial instruments

The company has elected to apply the recognition and measurement provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

LAMBERT METALS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities

Basic financial liabilities, including creditors, are recognised at transaction price.

1.7
Taxation

The tax expense represents the sum of the tax currently payable or receivable and deferred tax.

Current tax

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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 at the tax rate that is expected to apply to the reversal of the related difference, using tax rates enacted or substantively enacted at the balance sheet date.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Foreign exchange

The financial statements have been prepared in US Dollars as this is the primary trading currency. Monetary assets and liabilities denominated in foreign currencies are translated into US Dollars at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
5
LAMBERT METALS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
$
$
$
Cost
At 1 October 2023
46,593
340,915
387,508
Additions
-
0
11,019
11,019
Disposals
-
0
(1,051)
(1,051)
At 30 September 2024
46,593
350,883
397,476
Depreciation and impairment
At 1 October 2023
34,519
185,878
220,397
Depreciation charged in the year
3,971
32,808
36,779
Eliminated in respect of disposals
-
0
(535)
(535)
At 30 September 2024
38,490
218,151
256,641
Carrying amount
At 30 September 2024
8,103
132,732
140,835
At 30 September 2023
12,074
155,037
167,111
4
Fixed asset investments
2024
2023
$
$
Shares in group undertakings and participating interests
112
112
5
Debtors
2024
2023
Amounts falling due within one year:
$
$
Trade debtors
1,200,855
263,971
Amounts owed by group undertakings
1,246,072
1,246,072
Other debtors
46,135
48,783
2,493,062
1,558,826

Amounts owed by group undertakings are non interest bearing and have no fixed terms for repayment.

LAMBERT METALS INTERNATIONAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
$
$
Trade creditors
606,060
51,749
Amounts owed to group undertakings
112
112
Taxation and social security
198,073
107,510
Other creditors
128,663
218,540
932,908
377,911

Amounts owed to group undertakings are non interest bearing and have no fixed terms for repayment.

Other creditors includes an amount of $nil (2023 - $34,164) due from the company to the director and his wife.

7
Directors' transactions

During the year, the company made advances of $160,466 (2023 - $159,394) to the director and his wife. Repayments totalling $160,466 (2023 - $159,394) were made in respect of these advances and interest was charged at HMRC approved rates.

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