Company Registration No. SC197990 (Scotland)
Lawrie & Son (RFC) Limited
Unaudited accounts
for the year ended 30 November 2019
Lawrie & Son (RFC) Limited
Unaudited accounts
Contents
Lawrie & Son (RFC) Limited
Company Information
for the year ended 30 November 2019
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 2019
Tangible assets
546,037
617,503
Inventories
108,164
104,430
Cash at bank and in hand
11,155
35,329
Creditors: amounts falling due within one year
(412,132)
(398,633)
Net current liabilities
(175,083)
(139,789)
Total assets less current liabilities
370,954
477,714
Creditors: amounts falling due after more than one year
(198,687)
(299,065)
Net assets
172,267
178,649
Called up share capital
2
2
Profit and loss account
172,265
178,647
Shareholders' funds
172,267
178,649
For the year ending 30 November 2019 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.
The financial statements were approved by the Board and authorised for issue on 30 August 2020 and were signed on its behalf by
J Lawrie
Director
Company Registration No. SC197990
Lawrie & Son (RFC) Limited
Notes to the Accounts
for the year ended 30 November 2019
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 2019
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 December 2018
1,338,815
53,050
1,391,865
At 30 November 2019
1,405,465
53,050
1,458,515
At 1 December 2018
747,027
27,335
774,362
Charge for the year
131,688
6,428
138,116
At 30 November 2019
878,715
33,763
912,478
At 30 November 2019
526,750
19,287
546,037
At 30 November 2018
591,788
25,715
617,503
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
506,603
587,402
Finished goods
108,164
104,430
Trade debtors
115,730
117,085
7
Creditors: amounts falling due within one year
2019
2018
Obligations under finance leases and hire purchase contracts
155,818
155,353
Trade creditors
88,653
77,804
Taxes and social security
20,548
38,634
Other creditors
10,499
4,056
Loans from directors
136,614
122,786
8
Creditors: amounts falling due after more than one year
2019
2018
Obligations under finance leases and hire purchase contracts
198,687
299,065
Lawrie & Son (RFC) Limited
Notes to the Accounts
for the year ended 30 November 2019
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 5 (2018: 4).
