Company Registration No. SC197990 (Scotland)
Lawrie & Son (RFC) Limited
Unaudited accounts
for the year ended 30 November 2018
Lawrie & Son (RFC) Limited
Unaudited accounts
Contents
Lawrie & Son (RFC) Limited
Company Information
for the year ended 30 November 2018
Company Number
SC197990 (Scotland)
Registered Office
Balchalum Farm
Rait
Errol
Perthshire
PH2 7RR
United Kingdom
Accountants
Helen Hally CA
The Retreat
South Street
Burrelton
Perthshire
PH13 9PE
Lawrie & Son (RFC) Limited
Statement of financial position
as at 30 November 2018
Tangible assets
617,503
501,196
Inventories
104,430
122,733
Cash at bank and in hand
35,329
46,676
Creditors: amounts falling due within one year
(398,633)
(358,820)
Net current liabilities
(139,789)
(95,406)
Total assets less current liabilities
477,714
405,790
Creditors: amounts falling due after more than one year
(299,065)
(234,180)
Net assets
178,649
171,610
Called up share capital
2
2
Profit and loss account
178,647
171,608
Shareholders' funds
178,649
171,610
For the year ending 30 November 2018 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.
Approved by the Board on 30 August 2019.
J Lawrie
Director
Company Registration No. SC197990
Lawrie & Son (RFC) Limited
Notes to the Accounts
for the year ended 30 November 2018
Lawrie & Son (RFC) Limited is a private company, limited by shares, registered in Scotland, registration number SC197990. The registered office is Balchalum Farm, Rait, Errol, Perthshire, PH2 7RR, United Kingdom.
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 year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% reducing balance
Motor vehicles
25% reducing balance
Stocks and work-in-progress are valued at the lower of cost and net realisable value in the ordinary course of business.
Rentals applicable to operating leases, where substantially all of the benefits and risks of ownership remain with the lessor, are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Lawrie & Son (RFC) Limited
Notes to the Accounts
for the year ended 30 November 2018
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 December 2017
1,159,965
28,550
1,188,515
Additions
264,850
24,500
289,350
Disposals
(86,000)
-
(86,000)
At 30 November 2018
1,338,815
53,050
1,391,865
At 1 December 2017
668,555
18,764
687,319
Charge for the year
147,947
8,571
156,518
On disposals
(69,475)
-
(69,475)
At 30 November 2018
747,027
27,335
774,362
At 30 November 2018
591,788
25,715
617,503
At 30 November 2017
491,410
9,786
501,196
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
662,506
462,959
Finished goods
104,430
122,733
Trade debtors
117,085
92,005
7
Creditors: amounts falling due within one year
2018
2017
Obligations under finance leases and hire purchase contracts
155,353
98,099
Trade creditors
77,804
83,488
Taxes and social security
38,634
37,075
Other creditors
4,056
4,209
Loans from directors
122,786
135,949
Lawrie & Son (RFC) Limited
Notes to the Accounts
for the year ended 30 November 2018
8
Creditors: amounts falling due after more than one year
2018
2017
Obligations under finance leases and hire purchase contracts
299,065
234,180
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
10
Average number of employees
During the year the average number of employees was 4 (2017: 4).
