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Registration number: 11697485

Lawrence Contractors Devon Ltd

Unaudited Filleted Abridged Financial Statements

for the Year Ended 30 November 2024

 

Lawrence Contractors Devon Ltd

Contents

Company Information

1

Accountants' Report

2

Abridged Balance Sheet

3 to 4

Notes to the Unaudited Abridged Financial Statements

5 to 9

 

Lawrence Contractors Devon Ltd

Company Information

Directors

Mr Peter Harry Lawrence

Mr Harry Stevens Lawrence

Registered office

Larkshayes Farm
Dalwood
Axminster
EX13 7EY

Accountants

CRW Accountants Ltd
The Mews
Queen Street
Colyton
Devon
EX24 6JU

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Lawrence Contractors Devon Ltd
for the Year Ended 30 November 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lawrence Contractors Devon Ltd for the year ended 30 November 2024 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of International Accountants, we are subject to its ethical and other professional requirements.

This report is made solely to the Board of Directors of Lawrence Contractors Devon Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Lawrence Contractors Devon Ltd and state those matters that we have agreed to state to the Board of Directors of Lawrence Contractors Devon Ltd, as a body, in this report . To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lawrence Contractors Devon Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Lawrence Contractors Devon Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Lawrence Contractors Devon Ltd. You consider that Lawrence Contractors Devon Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Lawrence Contractors Devon Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.




CRW Accountants Ltd
The Mews
Queen Street
Colyton
Devon
EX24 6JU

11 April 2025

 

Lawrence Contractors Devon Ltd

(Registration number: 11697485)
Abridged Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1

1

Tangible assets

5

199,879

196,734

 

199,880

196,735

Current assets

 

Stocks

6

2,500

2,125

Debtors

7

4,231

61,507

Cash at bank and in hand

 

324,418

170,405

 

331,149

234,037

Creditors: Amounts falling due within one year

(85,872)

(54,908)

Net current assets

 

245,277

179,129

Total assets less current liabilities

 

445,157

375,864

Provisions for liabilities

(20,358)

(20,358)

Accruals and deferred income

 

(1,335)

(1,303)

Net assets

 

423,464

354,203

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

423,364

354,103

Shareholders' funds

 

423,464

354,203

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Lawrence Contractors Devon Ltd

(Registration number: 11697485)
Abridged Balance Sheet as at 30 November 2024

Approved and authorised by the Board on 11 April 2025 and signed on its behalf by:
 

.........................................
Mr Peter Harry Lawrence
Director

.........................................
Mr Harry Stevens Lawrence
Director

 

Lawrence Contractors Devon Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Larkshayes Farm
Dalwood
Axminster
EX13 7EY
United Kingdom

These financial statements were authorised for issue by the Board on 11 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Lawrence Contractors Devon Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

20% reducing balance

Office equipment

20% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

nil

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Lawrence Contractors Devon Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Lawrence Contractors Devon Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

4

Intangible assets

Total
£

Cost or valuation

At 1 December 2023

1

At 30 November 2024

1

Amortisation

Carrying amount

At 30 November 2024

1

At 30 November 2023

1

5

Tangible assets

Land and buildings
£

Office equipment
£

Other tangible assets
 £

Total
£

Cost or valuation

At 1 December 2023

98,025

5,029

181,741

284,795

Additions

18,672

-

23,368

42,040

Disposals

-

-

(4,750)

(4,750)

At 30 November 2024

116,697

5,029

200,359

322,085

Depreciation

At 1 December 2023

7,809

1,215

79,037

88,061

Charge for the year

3,051

763

30,331

34,145

At 30 November 2024

10,860

1,978

109,368

122,206

Carrying amount

At 30 November 2024

105,837

3,051

90,991

199,879

At 30 November 2023

90,216

3,814

102,704

196,734

Included within the net book value of land and buildings above is £105,837 (2023 - £90,215) in respect of freehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

2,500

2,125

 

Lawrence Contractors Devon Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 November 2024

7

Debtors

Debtors includes £Nil (2023 - £Nil) due after more than one year.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

100

100

100

100