Michael Lawrence Landcrafts Limited 04513816 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is landscaping, groundworks and agricultural services. Digita Accounts Production Advanced 6.30.9574.0 true true 04513816 2023-09-01 2024-08-31 04513816 2024-08-31 04513816 bus:Director1 1 2024-08-31 04513816 core:CurrentFinancialInstruments 2024-08-31 04513816 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 04513816 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 04513816 core:MotorVehicles 2024-08-31 04513816 core:PlantMachinery 2024-08-31 04513816 bus:SmallEntities 2023-09-01 2024-08-31 04513816 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 04513816 bus:FilletedAccounts 2023-09-01 2024-08-31 04513816 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 04513816 bus:RegisteredOffice 2023-09-01 2024-08-31 04513816 bus:Director1 2023-09-01 2024-08-31 04513816 bus:Director1 1 2023-09-01 2024-08-31 04513816 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04513816 core:MotorVehicles 2023-09-01 2024-08-31 04513816 core:PlantMachinery 2023-09-01 2024-08-31 04513816 countries:EnglandWales 2023-09-01 2024-08-31 04513816 2023-08-31 04513816 bus:Director1 1 2023-08-31 04513816 core:MotorVehicles 2023-08-31 04513816 core:PlantMachinery 2023-08-31 04513816 2022-09-01 2023-08-31 04513816 2023-08-31 04513816 bus:Director1 1 2023-08-31 04513816 core:CurrentFinancialInstruments 2023-08-31 04513816 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 04513816 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 04513816 core:MotorVehicles 2023-08-31 04513816 core:PlantMachinery 2023-08-31 04513816 bus:Director1 1 2022-09-01 2023-08-31 04513816 bus:Director1 1 2022-08-31 iso4217:GBP xbrli:pure

Registration number: 04513816

Michael Lawrence Landcrafts Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Michael Lawrence Landcrafts Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 7

 

Michael Lawrence Landcrafts Limited

(Registration number: 04513816)
Balance Sheet as at 31 August 2024

Note

2024
£

(As restated)

2023
£

Fixed assets

 

Tangible assets

4

16,866

22,202

Current assets

 

Debtors

5

164,681

148,932

Creditors: Amounts falling due within one year

6

(104,328)

(107,486)

Net current assets

 

60,353

41,446

Total assets less current liabilities

 

77,219

63,648

Creditors: Amounts falling due after more than one year

6

(73,645)

(94,276)

Provisions for liabilities

(2,971)

-

Net assets/(liabilities)

 

603

(30,628)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

602

(30,629)

Shareholders' funds/(deficit)

 

603

(30,628)

 

Michael Lawrence Landcrafts Limited

(Registration number: 04513816)
Balance Sheet as at 31 August 2024

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

Director's 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 director acknowledges his 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.

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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 22 April 2025
 

.........................................
M A J Lawrence
Director

 

Michael Lawrence Landcrafts Limited

Notes to the Financial Statements for the Year Ended 31 August 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:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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 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 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

These accounts have been prepared on a going concern basis as the director will continue to support the company for a period of twelve months from signing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of landscaping, agricultural and gardening services. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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.

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.

 

Michael Lawrence Landcrafts Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

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

Motor vehicles

25% reducing balance basis

Plant and machinery

25% reducing balance basis

Debtors

Trade debtors are amounts due from customers for landscaping, agricultural and gardening services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

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

 

Michael Lawrence Landcrafts Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

318,480

41,396

359,876

Disposals

(2,112)

-

(2,112)

At 31 August 2024

316,368

41,396

357,764

Depreciation

At 1 September 2023

300,364

37,310

337,674

Charge for the year

4,314

1,022

5,336

Eliminated on disposal

(2,112)

-

(2,112)

At 31 August 2024

302,566

38,332

340,898

Carrying amount

At 31 August 2024

13,802

3,064

16,866

At 31 August 2023

18,116

4,086

22,202

 

Michael Lawrence Landcrafts Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

5

Debtors

2024
£

2023
£

Trade debtors

10,072

3,416

Other debtors

154,609

145,516

164,681

148,932

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

7

67,276

69,621

Trade creditors

 

22,097

31,231

Taxation and social security

 

11,350

3,509

Other creditors

 

3,605

3,125

 

104,328

107,486

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

7

73,645

94,276

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

22,276

24,531

Other borrowings

45,000

45,090

67,276

69,621

 

Michael Lawrence Landcrafts Limited

Notes to the Financial Statements for the Year Ended 31 August 2024

8

Related party transactions

Transactions with the director

2024

At 1 September 2023
£

Advances to director
£

Repayments by director
£

At 31 August 2024
£

M A J Lawrence

Interest bearing loan

123,876

16,091

(14,500)

125,467

2023

At 1 September 2022
£

Advances to director
£

Repayments by director
£

At 31 August 2023
£

M A J Lawrence

Interest bearing loan

95,418

29,755

(1,297)

123,876