39 34 Lawson's of Corby Limited 08777516 false 2023-12-01 2024-11-30 2024-11-30 The principal activity of the company is Minibus hire Digita Accounts Production Advanced 6.30.9574.0 true 08777516 2023-12-01 2024-11-30 08777516 2024-11-30 08777516 core:RetainedEarningsAccumulatedLosses 2024-11-30 08777516 core:ShareCapital 2024-11-30 08777516 core:CurrentFinancialInstruments 2024-11-30 08777516 core:CurrentFinancialInstruments core:WithinOneYear 2024-11-30 08777516 core:Non-currentFinancialInstruments core:AfterOneYear 2024-11-30 08777516 core:FurnitureFittingsToolsEquipment 2024-11-30 08777516 core:MotorVehicles 2024-11-30 08777516 core:OtherPropertyPlantEquipment 2024-11-30 08777516 bus:SmallEntities 2023-12-01 2024-11-30 08777516 bus:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 08777516 bus:AbridgedAccounts 2023-12-01 2024-11-30 08777516 bus:SmallCompaniesRegimeForAccounts 2023-12-01 2024-11-30 08777516 bus:Director1 2023-12-01 2024-11-30 08777516 bus:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 08777516 core:CommercialMotorVehicles 2023-12-01 2024-11-30 08777516 core:FurnitureFittings 2023-12-01 2024-11-30 08777516 core:FurnitureFittingsToolsEquipment 2023-12-01 2024-11-30 08777516 core:MotorVehicles 2023-12-01 2024-11-30 08777516 core:OtherPropertyPlantEquipment 2023-12-01 2024-11-30 08777516 core:PlantMachinery 2023-12-01 2024-11-30 08777516 countries:AllCountries 2023-12-01 2024-11-30 08777516 2023-11-30 08777516 core:FurnitureFittingsToolsEquipment 2023-11-30 08777516 core:MotorVehicles 2023-11-30 08777516 core:OtherPropertyPlantEquipment 2023-11-30 08777516 2022-12-01 2023-11-30 08777516 2023-11-30 08777516 core:RetainedEarningsAccumulatedLosses 2023-11-30 08777516 core:ShareCapital 2023-11-30 08777516 core:CurrentFinancialInstruments 2023-11-30 08777516 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 08777516 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 08777516 core:FurnitureFittingsToolsEquipment 2023-11-30 08777516 core:MotorVehicles 2023-11-30 08777516 core:OtherPropertyPlantEquipment 2023-11-30 xbrli:pure iso4217:GBP

Registration number: 08777516

Lawson's of Corby Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 November 2024

 

Lawson's of Corby Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 4

 

Lawson's of Corby Limited

(Registration number: 08777516)
Abridged Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

481,494

339,188

Current assets

 

Debtors

293,864

236,896

Cash at bank and in hand

 

120,238

155,121

 

414,102

392,017

Creditors: Amounts falling due within one year

(160,484)

(141,515)

Net current assets

 

253,618

250,502

Total assets less current liabilities

 

735,112

589,690

Creditors: Amounts falling due after more than one year

(56,281)

(18,782)

Provisions for liabilities

(120,373)

(84,797)

Net assets

 

558,458

486,111

Capital and reserves

 

Called up share capital

100

100

Retained earnings

558,358

486,011

Shareholders' funds

 

558,458

486,111

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 provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

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

Approved and authorised by the Board on 24 April 2025 and signed on its behalf by:
 

.........................................
W Lawson
Director

 

Lawson's of Corby Limited

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

1

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.

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.

Tax

The tax expense for the period comprises current and deferred 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 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 on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

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.

 

Lawson's of Corby Limited

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

Plant and machinery

25% reducing balance

Fixtures and fittings

Over 3 years

Motor vehicles

15% reducing balance

Leases

Assets held under hire purchase contracts or finance leases, which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over their useful lives. The interest element of these obligations is charged to the profit and loss account over the relevant period.
The capital element of future payments is included within creditors.

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.

Financial instruments

The company is party to only the basic financial instruments such as cash, trade debtors and creditors and loans. Instruments such as trade debtors and trade creditors are initially recognised at their transaction cost and reviewed at the year end for impairment. Debt instruments not repayable on demand or due within one year, such as bank loans, are measured at amortised cost using the effective interest rate.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 39 (2023 - 34).

 

Lawson's of Corby Limited

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

3

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2023

8,685

486,066

23,283

518,034

Additions

1,850

247,995

4,949

254,794

Disposals

-

(59,750)

-

(59,750)

At 30 November 2024

10,535

674,311

28,232

713,078

Depreciation

At 1 December 2023

5,226

172,019

1,601

178,846

Charge for the year

2,328

67,383

3,641

73,352

Eliminated on disposal

-

(20,614)

-

(20,614)

At 30 November 2024

7,554

218,788

5,242

231,584

Carrying amount

At 30 November 2024

2,981

455,523

22,990

481,494

At 30 November 2023

3,459

314,047

21,682

339,188