Lawrence Scaffolding Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02724597 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2020

for

Lawrence Scaffolding Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr M J Farthing

SECRETARY:

Mr D J Farthing

REGISTERED OFFICE:

Unit 7

Babylon View

Oxford Road

Yeovil

Somerset

BA21 5HR

REGISTERED NUMBER:

02724597 (England and Wales)

ACCOUNTANTS:

Read & Co.

107 North Street

Martock

Somerset

TA12 6EJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

4,638

3,225

4,638

3,225

CURRENT ASSETS

Debtors

6

71,115

29,341

Cash at bank

14,661

53,375

85,776

82,716

CREDITORS

Amounts falling due within one year

7

24,045

40,541

NET CURRENT ASSETS

61,731

42,175

TOTAL ASSETS LESS CURRENT LIABILITIES

66,369

45,400

PROVISIONS FOR LIABILITIES

8

435

60

NET ASSETS

65,934

45,340

CAPITAL AND RESERVES

Called up share capital

600

600

Capital redemption reserve

900

900

Retained earnings

64,434

43,840

SHAREHOLDERS' FUNDS

65,934

45,340

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 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 and authorised for issue on 30 March 2021 and were signed by:

Mr M J Farthing - Director

1.	STATUTORY INFORMATION

Lawrence Scaffolding 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1992, was 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

-

25% on reducing balance, 25% on cost and 15% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2019

and 30 June 2020

5,000

AMORTISATION

At 1 July 2019

and 30 June 2020

5,000

NET BOOK VALUE

At 30 June 2020

-

At 30 June 2019

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 July 2019

212,755

Additions

1,988

At 30 June 2020

214,743

DEPRECIATION

At 1 July 2019

209,529

Charge for year

576

At 30 June 2020

210,105

NET BOOK VALUE

At 30 June 2020

4,638

At 30 June 2019

3,226

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Trade debtors

65,063

24,387

Other debtors

6,052

4,954

71,115

29,341

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Taxation and social security

18,855

31,286

Other creditors

5,190

9,255

24,045

40,541

8.	PROVISIONS FOR LIABILITIES

30.6.20

30.6.19

£

£

Deferred tax

435

60

Deferred

tax

£

Balance at 1 July 2019

60

Charge to Income Statement during year

375

Balance at 30 June 2020

435

9.	RELATED PARTY DISCLOSURES

The company operates a current account with the director and the activity during the year was as follows:

30.6.20

30.6.19

Mr M J Farthing

£

£

Amount owed to director at end of year

1,900

7,028

Amount owed to director at start of year

7,028

5,028

The amount owed to the director is interest free and repayable on demand.

10.	ULTIMATE CONTROLLING PARTY

The company was under the ultimate control of Mr M J Farthing who is the sole director and shareholder.