Company registration number SC489336 (Scotland)
JAMES LAWSON BUILDING CONTRACTORS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
JAMES LAWSON BUILDING CONTRACTORS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
JAMES LAWSON BUILDING CONTRACTORS LTD
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
14,836
18,670
Current assets
Stocks
5
2,735
3,750
Debtors
6
11,908
952
Cash at bank and in hand
38,570
36,805
53,213
41,507
Creditors: amounts falling due within one year
7
(13,533)
(11,947)
Net current assets
39,680
29,560
Total assets less current liabilities
54,516
48,230
Provisions for liabilities
9
(2,819)
(3,547)
Net assets
51,697
44,683
Capital and reserves
Called up share capital
10
100
100
Profit and loss reserves
51,597
44,583
Total equity
51,697
44,683
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 31 October 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:
(a) ensuring that the company keeps accounting records which comply with Section 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 of the company.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006.
These financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
JAMES LAWSON BUILDING CONTRACTORS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2024
31 October 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 4 April 2025
J C Lawson
Director
JAMES LAWSON BUILDING CONTRACTORS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
1
Accounting policies
Company information
James Lawson Building Contractors Ltd is a private company limited by shares incorporated in Scotland. The company's registered number and registered office address can be found on the Company Information page.
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 sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Turnover
The turnover shown in the profit and loss account represents revenue recognised by the company in respect of construction services supplied during the period, exclusive of Value Added Tax.
1.3
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and equipment
10% on reducing balance
Fixtures and fittings
10% on reducing balance
Motor vehicles
25% on reducing balance
1.4
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
1.5
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current tax
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
JAMES LAWSON BUILDING CONTRACTORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reserved at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and law that have been enacted or substantively enacted by the period end and 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.
2
Employees
The average number of employees during the year was :
2024
2023
Number
Number
Total
3
4
3
Director's remuneration
2024
2023
£
£
Remuneration paid to directors
28,426
26,688
4
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 November 2023 and 31 October 2024
11,095
1,512
33,883
46,490
Depreciation and impairment
At 1 November 2023
6,533
517
20,770
27,820
Depreciation charged in the year
456
99
3,279
3,834
At 31 October 2024
6,989
616
24,049
31,654
Carrying amount
At 31 October 2024
4,106
896
9,834
14,836
At 31 October 2023
4,562
995
13,113
18,670
JAMES LAWSON BUILDING CONTRACTORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
5
Stocks
2024
2023
£
£
Stocks
2,735
3,750
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
10,833
952
Other debtors
1,075
11,908
952
7
Creditors: amounts falling due within one year
2024
2023
£
£
Pension fund
15
Trade creditors
7,563
5,111
Corporation tax
2,527
1,344
Other taxation and social security
1,125
3,320
Other creditors
58
57
Accruals and deferred income
2,260
2,100
13,533
11,947
8
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
9
2,819
3,547
9
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
2,819
3,547
JAMES LAWSON BUILDING CONTRACTORS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
9
Deferred taxation
(Continued)
- 6 -
2024
Movements in the year:
£
Liability at 1 November 2023
3,547
Credit to profit or loss
(728)
Liability at 31 October 2024
2,819
10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100