Lewis And Wood Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03139231 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2020

FOR

LEWIS AND WOOD LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S D Lewis

C J Harvie

Ms M M Jebb

REGISTERED OFFICE:

Woodchester Mill Selsley Road

North Woodchester

Stroud

Gloucestershire

GL5 5NN

REGISTERED NUMBER:

03139231 (England and Wales)

ACCOUNTANTS:

Shiner Mitchell Fisher & Co Ltd

Smith House

George Street

Nailsworth

Stroud

Gloucestershire

GL6 0AG

FIXED ASSETS

Tangible assets

4

100,642

161,990

CURRENT ASSETS

Stocks

539,625

505,920

Debtors

5

380,487

389,106

Cash at bank and in hand

1,114,655

944,137

2,034,767

1,839,163

CREDITORS

Amounts falling due within one year

6

598,474

787,439

NET CURRENT ASSETS

1,436,293

1,051,724

TOTAL ASSETS LESS CURRENT LIABILITIES

1,536,935

1,213,714

PROVISIONS FOR LIABILITIES

12,570

21,780

NET ASSETS

1,524,365

1,191,934

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

1,524,363

1,191,932

SHAREHOLDERS' FUNDS

1,524,365

1,191,934

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 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 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 Board of Directors and authorised for issue on 28 October 2020 and were signed on its behalf by:

S D Lewis - Director

1.	STATUTORY INFORMATION

Lewis And Wood 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

33% on cost, 25% on cost and 15% on cost

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 19 (2019 - 18 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 July 2019

64,766

401,629

466,395

Additions

-

49,193

49,193

Disposals

-

(34,545

)

(34,545

)

At 30 June 2020

64,766

416,277

481,043

DEPRECIATION

At 1 July 2019

58,361

246,044

304,405

Charge for year

6,405

102,028

108,433

Eliminated on disposal

-

(32,437

)

(32,437

)

At 30 June 2020

64,766

315,635

380,401

NET BOOK VALUE

At 30 June 2020

-

100,642

100,642

At 30 June 2019

6,405

155,585

161,990

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 July 2019

35,750

Transfer to ownership

(35,750

)

At 30 June 2020

-

DEPRECIATION

At 1 July 2019

25,818

Transfer to ownership

(25,818

)

At 30 June 2020

-

NET BOOK VALUE

At 30 June 2020

-

At 30 June 2019

9,932

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Trade debtors

94,833

116,870

Amounts owed by group undertakings

146,318

161,366

Other debtors

139,336

110,870

380,487

389,106

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.20

30.6.19

£

£

Hire purchase contracts

-

8,527

Trade creditors

185,399

288,102

Taxation and social security

176,825

170,250

Other creditors

236,250

320,560

598,474

787,439

7.	RELATED PARTY DISCLOSURES