Company registration number 14494266 (England and Wales)
LAMA SERVICES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
LAMA SERVICES LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
LAMA SERVICES LTD
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
23,086
25,156
Investments
5
1,000
1,000
24,086
26,156
Current assets
Debtors
7
6,605
20,299
Cash at bank and in hand
46
29,871
6,651
50,170
Creditors: amounts falling due within one year
8
(4,203)
(31,069)
Net current assets
2,448
19,101
Total assets less current liabilities
26,534
45,257
Provisions for liabilities
(1,485)
(1,062)
Net assets
25,049
44,195
Capital and reserves
Called up share capital
9
100
100
Profit and loss reserves
24,949
44,095
Total equity
25,049
44,195
For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 20 August 2025
Mr Adam Cooper
Director
Company registration number 14494266 (England and Wales)
LAMA SERVICES LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 2 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 19 November 2022
-
Year ended 30 November 2023:
Profit and total comprehensive income
-
64,595
64,595
Issue of share capital
9
100
-
100
Dividends
-
(20,500)
(20,500)
Balance at 30 November 2023
100
44,095
44,195
Year ended 30 November 2024:
Loss and total comprehensive income
-
(19,146)
(19,146)
Balance at 30 November 2024
100
24,949
25,049
LAMA SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
1
Accounting policies
Company information
LAMA Services Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 115 The Furlongs, Ingatestone, Essex, CM4 0AL.
1.1
Basis of preparation
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 certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for services rendered, net of value added tax.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% reducing balance
Motor vehicles
10% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Fixed asset investments
Fixed asset investments are initially measured at transaction price adjusted for transaction costs and are subsequently remeasured to fair value at each reporting date based on their market price on the date of valuation as determined by the investment managers through whom the company invests. Changes in fair value are recognised in profit or loss. Transaction costs are expensed to profit or loss as incurred.
1.5
Financial instruments
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
LAMA SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing difference arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the 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.
1.7
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
LAMA SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 5 -
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2023
29,291
Additions
5,625
At 30 November 2024
34,916
Depreciation and impairment
At 1 December 2023
4,135
Depreciation charged in the year
7,695
At 30 November 2024
11,830
Carrying amount
At 30 November 2024
23,086
At 30 November 2023
25,156
5
Fixed asset investments
2024
2023
£
£
Other investments other than loans
1,000
1,000
LAMA SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 6 -
6
Financial instruments
2024
2023
£
£
Carrying amount of financial assets include:
Instruments measured at fair value through profit or loss
1,000
1,000
7
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
20,199
Corporation tax recoverable
6,505
Other debtors
100
100
6,605
20,299
8
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
16,801
Other taxation and social security
11,558
Other creditors
4,203
2,710
4,203
31,069
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and not fully paid
Ordinary shares of £1 each
100
100
100
100
The company has three classes of share in issue and at the balance sheet date these had not been fully paid. All shares rank Pari-Passu.