Lewis-Harvey Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05792819 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2020

for

Lewis-Harvey Limited

Page

Company Information

1

Report of the Accountants

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

S Harvey

R E Harvey

J P Harvey

REGISTERED OFFICE:

Unit 4 Hadrian House

Beaminster Way East

Airport Industrial Estate

Kingston Park

Newcastle Upon Tyne

NE3 2ER

REGISTERED NUMBER:

05792819 (England and Wales)

ACCOUNTANTS:

Peter Weldon & Co. Ltd

87 Station Road

Ashington

Northumberland

NE63 8RS

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 30 April 2020 set out on pages two to three and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Peter Weldon & Co. Ltd

87 Station Road

Ashington

Northumberland

NE63 8RS

9 March 2021

FIXED ASSETS

Intangible assets

4

57,730

66,380

Tangible assets

5

3,486

5,006

61,216

71,386

CURRENT ASSETS

Debtors

6

70,776

79,296

Cash at bank

380,198

134,762

450,974

214,058

CREDITORS

Amounts falling due within one year

7

123,905

54,212

NET CURRENT ASSETS

327,069

159,846

TOTAL ASSETS LESS CURRENT LIABILITIES

388,285

231,232

PROVISIONS FOR LIABILITIES

662

1,257

NET ASSETS

387,623

229,975

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

387,619

229,971

SHAREHOLDERS' FUNDS

387,623

229,975

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 9 March 2021 and were signed on its behalf by:

J P Harvey - Director

1.	STATUTORY INFORMATION

Lewis-Harvey 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.

Turnover is derived from electrical installations services and maintenance contracts. Revenue from the installation of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recovered.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2007, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost per annum

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Trade and other debtors

Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment. Those that are receivable after more than one year or constitute a financing transaction are recorded initially at fair value less transaction costs and subsequently amortised cost, net of impairment.

Trade and other creditors

Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised costs using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2019 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2019

and 30 April 2020

173,000

AMORTISATION

At 1 May 2019

106,620

Charge for year

8,650

At 30 April 2020

115,270

NET BOOK VALUE

At 30 April 2020

57,730

At 30 April 2019

66,380

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2019

and 30 April 2020

47,058

DEPRECIATION

At 1 May 2019

42,052

Charge for year

1,520

At 30 April 2020

43,572

NET BOOK VALUE

At 30 April 2020

3,486

At 30 April 2019

5,006

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

69,993

77,413

Other debtors

783

1,883

70,776

79,296

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Hire purchase contracts

1,737

5,904

Trade creditors

15,998

23,293

Taxation and social security

98,670

18,323

Other creditors

7,500

6,692

123,905

54,212

8.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Hire purchase contracts

1,737

5,904

Hire purchase contracts are secured on the assets concerned.