Lawson Demolition Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02601106 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2019

for

Lawson Demolition Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M G Wilson

REGISTERED OFFICE:

Station Yard

Station Road

Shrivenham

Swindon

SN6 8JL

REGISTERED NUMBER:

02601106 (England and Wales)

ACCOUNTANTS:

Morley & Co (UK) Ltd

Chartered Certified Accountants,

2 Cricklade Court

Old Town

Swindon

Wiltshire

SN1 3EY

FIXED ASSETS

Intangible assets

4

8,596

1,220

Tangible assets

5

53,733

66,757

62,329

67,977

CURRENT ASSETS

Stocks

3,000

3,000

Debtors

6

3,482,062

2,461,341

Cash at bank and in hand

494,463

1,027,486

3,979,525

3,491,827

CREDITORS

Amounts falling due within one year

7

2,138,574

2,011,956

NET CURRENT ASSETS

1,840,951

1,479,871

TOTAL ASSETS LESS CURRENT LIABILITIES

1,903,280

1,547,848

PROVISIONS FOR LIABILITIES

9,088

9,990

NET ASSETS

1,894,192

1,537,858

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

1,884,192

1,527,858

SHAREHOLDERS' FUNDS

1,894,192

1,537,858

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2019 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 on 13 January 2020 and were signed by:

M G Wilson - Director

1.	STATUTORY INFORMATION

Lawson Demolition 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.

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 represents net invoiced sales of services, excluding value added tax.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

over remaining life of the lease

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

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 balance sheet 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 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.

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.

Financial instruments

Basic financial instruments, including trade and other receivables and payables, cash and bank balances, bank

loans and loans to or from other group companies are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost

using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2018 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 October 2018

13,137

Additions

9,556

At 30 September 2019

22,693

AMORTISATION

At 1 October 2018

11,917

Amortisation for year

2,180

At 30 September 2019

14,097

NET BOOK VALUE

At 30 September 2019

8,596

At 30 September 2018

1,220

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

property

machinery

fittings

Totals

£

£

£

£

COST

At 1 October 2018

and 30 September 2019

153,360

144,812

61,524

359,696

DEPRECIATION

At 1 October 2018

145,594

110,613

36,732

292,939

Charge for year

7,125

3,420

2,479

13,024

At 30 September 2019

152,719

114,033

39,211

305,963

NET BOOK VALUE

At 30 September 2019

641

30,779

22,313

53,733

At 30 September 2018

7,766

34,199

24,792

66,757

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

1,736,076

1,554,377

Amounts owed by group undertakings

1,585,013

772,220

Amounts owed by associates

44,923

12,160

Amounts recoverable on contract

3,000

3,000

Other debtors

5,098

5,098

Prepayments and accrued income

107,952

114,486

3,482,062

2,461,341

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

393,408

353,889

Amounts owed to group undertakings

1,289,315

1,087,839

Taxation and social security

293,297

390,818

Other creditors

162,554

179,410

2,138,574

2,011,956

8.	CONTINGENT LIABILITIES

At the balance sheet date, the company had the following contingent liabilities:

2019

2018

£

£

Bank loans

149,011

180,700

AIB Group (UK) PLC hold a mortgage debenture dated 2 November 2009 covering all indebtedness of the

company, present and future and actual and or contingent. The debenture creates fixed and floating changes over

all of the company's assets, as well as a charge by way of a legal mortgage over the property known as Land on

the South Side of Hargreaves Road, Groundwell Employment Area, Swindon owned by the parent company

Lawson Group Limited.

9.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the director was owed £1,142 by the company (2018: £741). This amount is loaned

interest free and is repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Lawson Group Ltd whose registered office is Station Yard, Station

Road, Shrivenham, Swindon, SN6 8JL.

The company is controlled on a day to day basis by the Director, Mr Martin Wilson.