FREDERICK LAWTHER LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 02161977 (England and Wales)

FREDERICK LAWTHER LIMITED

Financial Statements

for the Year Ended 31 July 2021

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P Suddaby

M Suddaby

SECRETARY:

P Suddaby

REGISTERED OFFICE:

High Viewley Hill

11 West Street

Swinton

Malton

North Yorkshire

YO17 6SP

REGISTERED NUMBER:

02161977 (England and Wales)

FIXED ASSETS

Tangible assets

4

67

89

Investment property

5

654,000

654,000

654,067

654,089

CURRENT ASSETS

Debtors

6

3,679

3,431

Cash at bank

10,695

6,693

14,374

10,124

CREDITORS

Amounts falling due within one year

7

34,323

33,295

NET CURRENT LIABILITIES

(19,949

)

(23,171

)

TOTAL ASSETS LESS CURRENT LIABILITIES

634,118

630,918

CREDITORS

Amounts falling due after more than one year

8

(166,000

)

(166,000

)

PROVISIONS FOR LIABILITIES

9

(39,000

)

(39,000

)

NET ASSETS

429,118

425,918

CAPITAL AND RESERVES

Called up share capital

10

135,000

135,000

Fair value reserve

11

331,026

331,026

Retained earnings

11

(36,908

)

(40,108

)

SHAREHOLDERS' FUNDS

429,118

425,918

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 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 29 August 2021 and were signed on its behalf by:

P Suddaby - Director

1.	STATUTORY INFORMATION

FREDERICK LAWTHER 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 as modified by the revaluation of certain assets.

Revenue recognition

Income comprises rent receivable on commercial and domestic properties.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

25% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2020 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 August 2020

and 31 July 2021

568

DEPRECIATION

At 1 August 2020

479

Charge for year

22

At 31 July 2021

501

NET BOOK VALUE

At 31 July 2021

67

At 31 July 2020

89

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 August 2020

and 31 July 2021

654,000

NET BOOK VALUE

At 31 July 2021

654,000

At 31 July 2020

654,000

Included in fair value of investment property is freehold land of £ 24,023 (2020 - £ 24,023 ) which is not depreciated.

Fair value at 31 July 2021 is represented by:

£

Valuation in 2007

266,725

Valuation in 2019

64,301

Cost

322,974

654,000

If investment property had not been revalued it would have been included at the following historical cost:

31/7/21

31/7/20

£

£

Cost

322,974

322,974

Investment property was valued on an open market basis on 31 July 2021 by the directors .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/21

31/7/20

£

£

Trade debtors

2,026

1,891

Prepayments

1,653

1,540

3,679

3,431

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/7/21

31/7/20

£

£

PAYE & NIC

4,032

2,933

VAT

1,136

1,065

Directors' current accounts

25,381

25,622

Accruals & deferred income

3,774

3,675

34,323

33,295

The directors' current account balances are interest free and repayable on demand.

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/7/21

31/7/20

£

£

Directors' loan accounts

166,000

166,000

Interest at an annual rate of 5% is charged in respect of the directors' loans. Interest is accrued on a daily basis and is payable within one year from the balance sheet date. The directors' loans are repayable after more than one year from the balance sheet date but with no other fixed term for repayment.

9.	PROVISIONS FOR LIABILITIES

31/7/21

31/7/20

£

£

Deferred tax

39,000

39,000

Deferred

tax

£

Balance at 1 August 2020

39,000

Balance at 31 July 2021

39,000

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/7/21

31/7/20

value:

£

£

135,000

Ordinary

£1

135,000

135,000

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 August 2020

(40,108

)

331,026

290,918

Profit for the year

3,200

3,200

At 31 July 2021

(36,908

)

331,026

294,118