Lawson Demolition Limited - Accounts to registrar (filleted) - small 17.3
Lawson Demolition Limited - Accounts to registrar (filleted) - small 17.3
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30 September 2017 |
for |
Lawson Demolition Limited |
Lawson Demolition Limited (Registered number: 02601106) |
Contents of the Financial Statements |
for the Year Ended 30 September 2017 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Lawson Demolition Limited |
Company Information |
for the Year Ended 30 September 2017 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants, |
2 Cricklade Court |
Old Town |
Swindon |
Wiltshire |
SN1 3EY |
Lawson Demolition Limited (Registered number: 02601106) |
Balance Sheet |
30 September 2017 |
2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | 8 |
SHAREHOLDERS' FUNDS |
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. |
Lawson Demolition Limited (Registered number: 02601106) |
Balance Sheet - continued |
30 September 2017 |
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 |
Lawson Demolition Limited (Registered number: 02601106) |
Notes to the Financial Statements |
for the Year Ended 30 September 2017 |
1. | STATUTORY INFORMATION |
Lawson Demolition Limited is a |
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 |
The company transitioned to FRS 102 from previously extant UK GAAP as at 1 October 2016. No significant |
adjustments were required to the current or prior year accounts as a result of the transition to FRS 102. |
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. |
Tangible fixed assets |
Improvements to property | - |
Plant and machinery | - |
Fixtures and fittings | - |
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. |
Lawson Demolition Limited (Registered number: 02601106) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
2. | ACCOUNTING POLICIES - continued |
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 |
4. | INTANGIBLE FIXED ASSETS |
Patents |
and |
licences |
£ |
COST |
At 1 October 2016 |
and 30 September 2017 |
AMORTISATION |
At 1 October 2016 |
Amortisation for year |
At 30 September 2017 |
NET BOOK VALUE |
At 30 September 2017 |
At 30 September 2016 |
Lawson Demolition Limited (Registered number: 02601106) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
5. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 October 2016 |
Additions |
Disposals | ( |
) | ( |
) |
At 30 September 2017 |
DEPRECIATION |
At 1 October 2016 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30 September 2017 |
NET BOOK VALUE |
At 30 September 2017 |
At 30 September 2016 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
Tax |
Prepayments and accrued income |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Tax |
Social security and other taxes |
CIS Tax | 2,582 | 2,554 |
VAT | 228,792 | 304,609 |
Other creditors |
Directors' current accounts | 553 | 124 |
Accrued expenses |
Lawson Demolition Limited (Registered number: 02601106) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2017 |
8. | RESERVES |
Retained |
earnings |
£ |
At 1 October 2016 |
Profit for the year |
At 30 September 2017 |
9. | OTHER FINANCIAL COMMITMENTS |
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. |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
At the balance sheet date, the company owed the director £553 (2016: £124). |
11. | RELATED PARTY DISCLOSURES |
During the year, the company hired plant and machinery and obtained other goods and services from its parent |
company, Lawson Group Limited, a company of which Mr Wilson is also a director and shareholder. The |
amount charged by Lawson Group Limited for the hire of this equipment and the provision of other goods and |
services totalled £1,785,888 (2016: £1,446,457). |
At the balance sheet date, £253,346 was owed to Lawson Group Limited (2016: £452,586). |
During the year, the company contracted for asbestos removal services with Lawson Environmental Limited, a |
fellow subsidiary of Lawson Group Limited. The amount charged by Lawson Environmental Limited for these |
services totalled £761,799 (2016: £1,383,731). |
At the balance sheet date, £960,787 (2016: £921,930) was owed to Lawson Environmental Limited in respect of |
these transactions. |
The company's business premises are leased jointly with Lawson Environmental Limited from the director and |
his family. During the year the company paid rent of £60,192 (2016: £48,484). |
12. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is |