LAFFORD CO LTD 30/07/2022 iXBRL

LAFFORD CO LTD 30/07/2022 iXBRL

LAFFORD CO LTD - Company Information

Print Friendly Version

5 30/07/2022 2022-07-30 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2021-07-31 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 06017119 2021-07-31 2022-07-30 06017119 2022-07-30 06017119 2021-07-30 06017119 2020-07-31 2021-07-30 06017119 2021-07-30 06017119 2020-07-30 06017119 core:PlantMachinery 2021-07-31 2022-07-30 06017119 core:FurnitureFittingsToolsEquipment 2021-07-31 2022-07-30 06017119 bus:RegisteredOffice 2021-07-31 2022-07-30 06017119 bus:LeadAgentIfApplicable 2021-07-31 2022-07-30 06017119 bus:Director1 2021-07-31 2022-07-30 06017119 core:NetGoodwill 2022-07-30 06017119 core:PlantMachinery 2021-07-30 06017119 core:FurnitureFittingsToolsEquipment 2021-07-30 06017119 core:PlantMachinery 2022-07-30 06017119 core:FurnitureFittingsToolsEquipment 2022-07-30 06017119 core:WithinOneYear 2022-07-30 06017119 core:WithinOneYear 2021-07-30 06017119 core:RetainedEarningsAccumulatedLosses 2020-07-31 2021-07-30 06017119 core:RetainedEarningsAccumulatedLosses 2021-07-31 2022-07-30 06017119 core:ShareCapital 2022-07-30 06017119 core:ShareCapital 2021-07-30 06017119 core:RetainedEarningsAccumulatedLosses 2022-07-30 06017119 core:RetainedEarningsAccumulatedLosses 2021-07-30 06017119 core:ShareCapital 2020-07-30 06017119 core:RetainedEarningsAccumulatedLosses 2020-07-30 06017119 core:NetGoodwill 2021-07-30 06017119 core:PlantMachinery 2021-07-30 06017119 core:FurnitureFittingsToolsEquipment 2021-07-30 06017119 bus:Director1 2021-07-30 06017119 bus:Director1 2022-07-30 06017119 bus:Director1 2020-07-30 06017119 bus:Director1 2021-07-30 06017119 bus:Director1 2020-07-31 2021-07-30 06017119 bus:SmallEntities 2021-07-31 2022-07-30 06017119 bus:AuditExemptWithAccountantsReport 2021-07-31 2022-07-30 06017119 bus:FullAccounts 2021-07-31 2022-07-30 06017119 bus:SmallCompaniesRegimeForAccounts 2021-07-31 2022-07-30 06017119 bus:PrivateLimitedCompanyLtd 2021-07-31 2022-07-30
Company registration number: 06017119
LAFFORD CO LTD
Unaudited filleted financial statements
30 July 2022
LAFFORD CO LTD
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
LAFFORD CO LTD
Directors and other information
Directors Ms A V Torku
Company number 06017119
Registered office 86 Towncourt Lane
Petts Wood
Orpington
England
BR5 1EH
Accountants Accounts Tax Solutions Limited
3rd Floor
207 Regent Street
London
W1B 3HH
LAFFORD CO LTD
Report to the board of directors on the preparation of the
unaudited statutory financial statements of LAFFORD CO LTD
Year ended 30 July 2022
As described on the statement of financial position, the directors of the company are responsible for the preparation of the financial statements for the year ended 30 July 2022 which comprise the statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Accounts Tax Solutions Limited
3rd Floor
207 Regent Street
London
W1B 3HH
21 April 2023
LAFFORD CO LTD
Statement of financial position
30 July 2022
2022 2021
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 11,687 14,704
_______ _______
11,687 14,704
Current assets
Stocks 40,000 40,000
Debtors 7 137,972 106,981
Cash at bank and in hand 56,444 54,223
_______ _______
234,416 201,204
Creditors: amounts falling due
within one year 8 ( 136,922) ( 94,453)
_______ _______
Net current assets 97,494 106,751
_______ _______
Total assets less current liabilities 109,181 121,455
_______ _______
Net assets 109,181 121,455
_______ _______
Capital and reserves
Called up share capital 2 2
Profit and loss account 109,179 121,453
_______ _______
Shareholders funds 109,181 121,455
_______ _______
For the year ending 30 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 21 April 2023 , and are signed on behalf of the board by:
Ms A V Torku
Director
Company registration number: 06017119
LAFFORD CO LTD
Statement of changes in equity
Year ended 30 July 2022
Called up share capital Profit and loss account Total
£ £ £
At 31 July 2020 2 95,324 95,326
(Loss)/profit for the year 26,129 26,129
_______ _______ _______
Total comprehensive income for the year - 26,129 26,129
_______ _______ _______
At 30 July 2021 and 31 July 2021 2 121,453 121,455
(Loss)/profit for the year ( 12,274) ( 12,274)
_______ _______ _______
Total comprehensive income for the year - ( 12,274) ( 12,274)
_______ _______ _______
At 30 July 2022 2 109,179 109,181
_______ _______ _______
LAFFORD CO LTD
Notes to the financial statements
Year ended 30 July 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 86 Towncourt Lane, Petts Wood, Orpington, England, BR5 1EH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 25 % reducing balance
Fittings fixtures and equipment - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2021: 5 ).
5. Intangible assets
Goodwill Total
£ £
Cost
At 31 July 2021 and 30 July 2022 82,000 82,000
_______ _______
Amortisation
At 31 July 2021 and 30 July 2022 82,000 82,000
_______ _______
Carrying amount
At 30 July 2022 - -
_______ _______
At 30 July 2021 - -
_______ _______
6. Tangible assets
Plant and machinery Fixtures, fittings and equipment Total
£ £ £
Cost
At 31 July 2021 and 30 July 2022 5,170 63,421 68,591
_______ _______ _______
Depreciation
At 31 July 2021 3,668 50,219 53,887
Charge for the year 376 2,641 3,017
_______ _______ _______
At 30 July 2022 4,044 52,860 56,904
_______ _______ _______
Carrying amount
At 30 July 2022 1,126 10,561 11,687
_______ _______ _______
At 30 July 2021 1,502 13,202 14,704
_______ _______ _______
7. Debtors
2022 2021
£ £
Trade debtors 256 327
Other debtors 137,716 106,654
_______ _______
137,972 106,981
_______ _______
8. Creditors: amounts falling due within one year
2022 2021
£ £
Bank loans and overdrafts 35,000 -
Trade creditors 96,424 85,742
Corporation tax - 6,956
Social security and other taxes 1,915 215
Other creditors 3,583 1,540
_______ _______
136,922 94,453
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2022
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Director 1 6,244 11,200 - 17,444
_______ _______ _______ _______
2021
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Director 1 8,906 - ( 2,662) 6,244
_______ _______ _______ _______
10. Controlling party
The ultimate controlling party of the company are its Director.