Law Company (Frozen Foods) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04551718 (England and Wales)

Unaudited Financial Statements For The Year Ended 30th November 2018

for

Law Company (Frozen Foods) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

6

DIRECTORS:

K W Law

Mrs C L Law

SECRETARY:

Mrs C L Law

REGISTERED OFFICE:

11 King Street

Kings Lynn

Norfolk

PE30 1ET

BUSINESS ADDRESS:

29 The Birches

South Wootton

King's Lynn

Norfolk

PE30 3JG

REGISTERED NUMBER:

04551718 (England and Wales)

ACCOUNTANTS:

Aston Shaw - Kings Lynn

11 King Street

King's Lynn

Norfolk

PE30 1ET

FIXED ASSETS

Tangible assets

4

50,105

66,426

CURRENT ASSETS

Stocks

5

194,998

194,427

Debtors

6

65,207

78,665

Cash at bank and in hand

82,412

78,255

342,617

351,347

CREDITORS

Amounts falling due within one year

7

364,818

366,874

NET CURRENT LIABILITIES

(22,201

)

(15,527

)

TOTAL ASSETS LESS CURRENT LIABILITIES

27,904

50,899

PROVISIONS FOR LIABILITIES

8

9,520

12,621

NET ASSETS

18,384

38,278

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Retained earnings

10

17,384

37,278

SHAREHOLDERS' FUNDS

18,384

38,278

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 11th July 2019 and were signed on its behalf by:

Mrs C L Law - Director

1.	STATUTORY INFORMATION

Law Company (Frozen Foods) 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 goods, excluding value added tax.

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

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% 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.

Going concern

The financial statements have been prepared on the going concern basis. The directors consider this basis to be

appropriate but have not assessed a period in excess of 12 months from the date of approving the accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2017 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1st December 2017

74,386

2,734

141,221

218,341

Additions

-

379

-

379

At 30th November 2018

74,386

3,113

141,221

218,720

DEPRECIATION

At 1st December 2017

43,815

2,619

105,481

151,915

Charge for year

7,651

112

8,937

16,700

At 30th November 2018

51,466

2,731

114,418

168,615

NET BOOK VALUE

At 30th November 2018

22,920

382

26,803

50,105

At 30th November 2017

30,571

115

35,740

66,426

5.

STOCKS

30/11/18

30/11/17

£

£

Stocks

194,998

194,427

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/18

30/11/17

£

£

Trade debtors

58,406

71,833

Social security and other taxes

3,858

2,038

Prepayments

2,943

4,794

65,207

78,665

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30/11/18

30/11/17

£

£

Trade creditors

216,172

227,773

Corporation tax

3,378

7,681

Social security and other taxes

598

320

Income in advance

5,000

-

Directors' current accounts

136,885

128,468

Accrued expenses

2,785

2,632

364,818

366,874

8.	PROVISIONS FOR LIABILITIES

30/11/18

30/11/17

£

£

Deferred tax

9,520

12,621

Deferred

tax

£

Balance at 1st December 2017

12,621

Accelerated capital allowances

(3,101

)

Balance at 30th November 2018

9,520

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/11/18

30/11/17

value:

£

£

1,000

Ordinary

£1

1,000

1,000

10.

RESERVES

Retained

earnings

£

At 1st December 2017

37,278

Profit for the year

1,028

Dividends

(20,922

)

At 30th November 2018

17,384

11.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

A debenture is registered against the company in relation to a private mortgage taken out with their bank for the

directors.

12.	RELATED PARTY DISCLOSURES

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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Law Company (Frozen Foods) Limited for the year ended 30th November 2018 which comprise

the Income Statement, Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Law Company (Frozen Foods) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Law Company (Frozen Foods) Limited and state those matters that we have agreed to state to the Board of Directors of Law Company (Frozen Foods) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Law Company (Frozen Foods) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Law Company (Frozen Foods) Limited. You consider that Law Company (Frozen Foods) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Law Company (Frozen Foods) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Aston Shaw - Kings Lynn

11 King Street

King's Lynn

Norfolk

PE30 1ET

31st July 2019