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Registration number: 07078616

Laurence Weaver (SW) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2024

 

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Company Information

Directors

Mr David Charles Weaver

Mr Andrew Duncan Gray

Registered office

108 Pencarn Parc
Boskenna Road
Four Lanes
Redruth
Cornwall
TR16 6LQ

Accountants

Martin Fisher & Co Ltd
Chartered Certified Accountants
Woodbine Farm Bus. Centre
Truro Business Park
Truro
Cornwall
TR3 6BW

 

(Registration number: 07078616)
Balance Sheet as at 30 November 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

182,587

193,701

Current assets

 

Debtors

5

26,721

26,409

Cash at bank and in hand

 

288

-

 

27,009

26,409

Creditors: Amounts falling due within one year

6

(18,409)

(21,208)

Net current assets

 

8,600

5,201

Net assets

 

191,187

198,902

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

191,186

198,901

Shareholders' funds

 

191,187

198,902

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.

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.

Approved and authorised by the Board on 12 August 2025 and signed on its behalf by:
 

.........................................
Mr David Charles Weaver
Director

 

Notes to the Unaudited 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:
108 Pencarn Parc
Boskenna Road
Four Lanes
Redruth
Cornwall
TR16 6LQ

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.

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.

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

Land and buildings

4% straightline

 

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

Plant and machinery

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

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.

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.

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.

 

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

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 directors) during the year, was 2 (2023 - 2).

4

Tangible assets

Land and buildings
£

Other tangible assets
£

Total
£

Cost or valuation

At 1 December 2023

280,000

1,877

281,877

Additions

-

149

149

At 30 November 2024

280,000

2,026

282,026

Depreciation

At 1 December 2023

86,400

1,776

88,176

Charge for the year

11,200

63

11,263

At 30 November 2024

97,600

1,839

99,439

Carrying amount

At 30 November 2024

182,400

187

182,587

At 30 November 2023

193,600

101

193,701

Included within the net book value of land and buildings above is £182,400 (2023 - £193,600) in respect of freehold land and buildings.
 

5

Debtors

Current

2024
£

2023
£

Trade debtors

2,103

2,839

Other debtors

24,618

23,570

 

26,721

26,409

 

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

5,003

5,814

Taxation and social security

 

11,820

13,854

Accruals and deferred income

 

1,125

990

Other creditors

 

461

550

 

18,409

21,208

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

8

Related party transactions

Key management personnel

Mr D C Weaver (director).

Summary of transactions with key management

Director's loan account.
 Interest is charged on debit balances exceeding £10,000 during the year of 2.25% and the loan is repayable on demand of the Company. At the balance sheet date the amount due to the Company was £22,646 (2023: £23,056).
 

Transactions with directors

2024

At 1 December 2023
£

Advances to director
£

Repayments by director
£

At 30 November 2024
£

Mr David Charles Weaver

Director's loan account

23,056

22,646

(23,056)

22,646

         
       

 

 

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

2023

At 1 December 2022
£

Advances to director
£

Repayments by director
£

At 30 November 2023
£

Mr David Charles Weaver

Director's loan account

23,220

23,056

(23,220)

23,056