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REGISTERED NUMBER: 06678074 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2024

for

S. LAMYMAN & SON LIMITED

S. LAMYMAN & SON LIMITED (REGISTERED NUMBER: 06678074)

Contents of the Financial Statements
for the year ended 31 December 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


S. LAMYMAN & SON LIMITED

Company Information
for the year ended 31 December 2024







Director: Mr S Lamyman





Secretary: Mr S C Thorold





Registered office: Field Farm
Walcott Road
Billinghay
Lincolnshire
LN4 4EP





Registered number: 06678074 (England and Wales)





Accountants: Haines Watts
23 Algitha Road
Skegness
United Kingdom
PE25 2AG

S. LAMYMAN & SON LIMITED (REGISTERED NUMBER: 06678074)

Statement of Financial Position
31 December 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 4,644,746 4,690,204

Current assets
Stocks 5 408,353 436,379
Debtors 6 259,811 510,677
Cash at bank and in hand 173,121 1,942
841,285 948,998
Creditors
Amounts falling due within one year 7 1,707,250 903,865
Net current (liabilities)/assets (865,965 ) 45,133
Total assets less current liabilities 3,778,781 4,735,337

Creditors
Amounts falling due after more than one year 8 (3,016,899 ) (4,043,732 )

Provisions for liabilities (61,236 ) (73,927 )
Net assets 700,646 617,678

Capital and reserves
Called up share capital 11 1 1
Retained earnings 12 700,645 617,677
Shareholders' funds 700,646 617,678

S. LAMYMAN & SON LIMITED (REGISTERED NUMBER: 06678074)

Statement of Financial Position - continued
31 December 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 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 to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 July 2025 and were signed by:





Mr S Lamyman - Director


S. LAMYMAN & SON LIMITED (REGISTERED NUMBER: 06678074)

Notes to the Financial Statements
for the year ended 31 December 2024


1. Statutory information

S. Lamyman & Son Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold land & buildings - Farm land is not depreciated
Tenants fixtures - 2% on cost
Plant and machinery - 15% on reducing balance
Tractors - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 15% on reducing balance and Straight line over 3 years

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 laws that have been enacted or substantively enacted by the year 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

S. LAMYMAN & SON LIMITED (REGISTERED NUMBER: 06678074)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


2. Accounting policies - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 13 (2023 - 11 ) .

4. Tangible fixed assets
Freehold
land & Tenants Plant and
buildings fixtures machinery
£ £ £
Cost
At 1 January 2024 3,940,074 502,356 784,168
Additions - - 26,968
Disposals - - (13 )
At 31 December 2024 3,940,074 502,356 811,123
Depreciation
At 1 January 2024 - 91,471 527,282
Charge for year - 10,047 41,216
At 31 December 2024 - 101,518 568,498
Net book value
At 31 December 2024 3,940,074 400,838 242,625
At 31 December 2023 3,940,074 410,885 256,886

Motor Office
Tractors vehicles equipment Totals
£ £ £ £
Cost
At 1 January 2024 277,885 68,330 14,262 5,587,075
Additions - - - 26,968
Disposals - - - (13 )
At 31 December 2024 277,885 68,330 14,262 5,614,030
Depreciation
At 1 January 2024 238,954 28,430 10,734 896,871
Charge for year 9,733 9,975 1,442 72,413
At 31 December 2024 248,687 38,405 12,176 969,284
Net book value
At 31 December 2024 29,198 29,925 2,086 4,644,746
At 31 December 2023 38,931 39,900 3,528 4,690,204

S. LAMYMAN & SON LIMITED (REGISTERED NUMBER: 06678074)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


4. Tangible fixed assets - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery Tractors vehicles Totals
£ £ £ £
Cost
At 1 January 2024
and 31 December 2024 173,310 82,500 37,335 293,145
Depreciation
At 1 January 2024 61,564 51,333 16,780 129,677
Charge for year 16,762 7,792 5,139 29,693
At 31 December 2024 78,326 59,125 21,919 159,370
Net book value
At 31 December 2024 94,984 23,375 15,416 133,775
At 31 December 2023 111,746 31,167 20,555 163,468

5. Stocks
2024 2023
£ £
Valuation 408,353 436,379

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 220,298 474,461
VAT 20,359 18,006
Prepayments 19,154 18,210
259,811 510,677

7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts (see note 9) 10,000 403,700
Hire purchase contracts 56,832 50,722
Trade creditors 135,425 134,478
Income received in advance - 100,000
Corporation tax 20,840 -
Social security and other taxes 10,931 8,092
Other creditors 9,794 6,339
Directors' current accounts 1,463,428 200,534
1,707,250 903,865

8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans (see note 9) 3,003,333 3,973,333
Hire purchase contracts 13,566 70,399
3,016,899 4,043,732

S. LAMYMAN & SON LIMITED (REGISTERED NUMBER: 06678074)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


8. Creditors: amounts falling due after more than one year - continued
2024 2023
£ £
Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,990,000 3,950,000

9. Loans

An analysis of the maturity of loans is given below:

2024 2023
£ £
Amounts falling due within one year or on demand:
Bank overdrafts - 393,700
Government bounce back loan 10,000 10,000
10,000 403,700

Amounts falling due between two and five years:
Government bounce bank loan 13,333 23,333

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 2,990,000 3,950,000

10. Secured debts

The following secured debts are included within creditors:

2024 2023
£ £
Bank overdraft - 393,700
Bank loans 3,013,333 3,983,333
Hire purchase contracts 70,398 121,121
3,083,731 4,498,154

The hire purchase liability is secured on the asset financed.
The Clydesdale bank loan is secured by a debenture from S Lamyman and Son Ltd.
The Clydesdale loan dated 30 June 2015 for 3,950,000 is secured over 538 acres of land,yard and cottages at South Kyme, Billinghay,Sleaford, Lincs and a fixed and floating charge over the company's fixed assets.
The Clydesdale loan is interest only and is fully repayable on the 25 May 2025.

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1 Ordinary shares £1 1 1

S. LAMYMAN & SON LIMITED (REGISTERED NUMBER: 06678074)

Notes to the Financial Statements - continued
for the year ended 31 December 2024


12. Reserves
Retained
earnings
£

At 1 January 2024 617,677
Profit for the year 82,968
At 31 December 2024 700,645

13. Related party disclosures

Mr S Lamyman
Director


Directors current account 2024 2023

Balance at the start of the year (200,534 ) (113 )
Amounts advanced 113,157 118,039
Amounts repaid (1,376,051 ) (318,460 )
Balance at the end of the year (1,463,428 ) (200,534 )

The company paid the director a dividend of £Nil (2023 £Nil) in the year.

2024 2023
£ £
Amount due to related party at the balance sheet date 1,463,428 200,534