Company Registration No. NI647651 (Northern Ireland)
Laurie Mac Interiors Ltd
Unaudited accounts
for the period from 1 August 2019 to 31 March 2020
Laurie Mac Interiors Ltd
Unaudited accounts
Contents
Laurie Mac Interiors Ltd
Statement of financial position
as at 31 March 2020
Tangible assets
19,000
21,250
Cash at bank and in hand
3,805
1,292
Creditors: amounts falling due within one year
(70,278)
(64,850)
Net current liabilities
(52,763)
(57,742)
Net liabilities
(32,984)
(35,658)
Called up share capital
100
100
Profit and loss account
(33,084)
(35,758)
Shareholders' funds
(32,984)
(35,658)
For the period ending 31 March 2020 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 2 December 2020 and were signed on its behalf by
Philip McCloy
Director
Company Registration No. NI647651
Laurie Mac Interiors Ltd
Notes to the Accounts
for the period from 1 August 2019 to 31 March 2020
Laurie Mac Interiors Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI647651. The registered office is 10 Pennybridge Industrial Estate, Ballymena, Antrim, BT42 3HB.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous period, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates (12.5%) in order to write off the assets over their estimated useful lives: 8 years.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Amortisation has been provided at the following rates (8.3%) in order to write off the asset over its estimated useful life: 12 years.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Laurie Mac Interiors Ltd
Notes to the Accounts
for the period from 1 August 2019 to 31 March 2020
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Fixtures & fittings
Charge for the period
2,250
Work in progress
5,000
5,000
Laurie Mac Interiors Ltd
Notes to the Accounts
for the period from 1 August 2019 to 31 March 2020
8
Creditors: amounts falling due within one year
2020
2019
Trade creditors
27,554
26,029
Taxes and social security
791
408
Loans from directors
26,108
32,606
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
10
Average number of employees
During the period the average number of employees was 3 (2019: 6).
