Company Registration No. 3833641 (England and Wales)
Lamba Welding Systems Limited
Unaudited accounts
for the year ended 31 August 2023
Lamba Welding Systems Limited
Unaudited accounts
Contents
Lamba Welding Systems Limited
Company Information
for the year ended 31 August 2023
Directors
Mr B E Bates
Mrs H Williams
Mrs J Bates
Company Number
3833641 (England and Wales)
Registered Office
60 Racecourse Road
Gallowfields Trading Estate
Richmond
North Yorkshire
DL10 4TF
Accountants
JLA Accounting Limited
9 Flora Avenue
Darlington
DL3 8PF
Lamba Welding Systems Limited
Statement of financial position
as at 31 August 2023
Tangible assets
341,473
250,200
Cash at bank and in hand
762,165
649,327
Creditors: amounts falling due within one year
(190,389)
(598,119)
Net current assets
736,000
948,862
Total assets less current liabilities
1,077,473
1,199,062
Creditors: amounts falling due after more than one year
(18,353)
(28,353)
Provisions for liabilities
Deferred tax
(32,843)
(24,219)
Net assets
1,026,277
1,146,490
Called up share capital
150
101
Profit and loss account
1,026,127
1,146,389
Shareholders' funds
1,026,277
1,146,490
For the year ending 31 August 2023 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 directors acknowledge their 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 of Directors and authorised for issue on 23 January 2024 and were signed on its behalf by
Mrs H Williams
Director
Company Registration No. 3833641
Lamba Welding Systems Limited
Notes to the Accounts
for the year ended 31 August 2023
Lamba Welding Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 3833641. The registered office is 60 Racecourse Road, Gallowfields Trading Estate, Richmond, North Yorkshire, DL10 4TF.
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 as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% straight line
Plant & machinery
15% straight line
Motor vehicles
25% reducing balance
Fixtures & fittings
20% straight line
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Lamba Welding Systems Limited
Notes to the Accounts
for the year ended 31 August 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill
At 1 September 2022
37,600
At 1 September 2022
37,600
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 September 2022
162,141
95,526
88,666
42,740
389,073
Additions
-
3,488
130,971
427
134,886
At 31 August 2023
162,141
99,014
219,637
43,167
523,959
At 1 September 2022
18,346
71,961
11,408
37,158
138,873
Charge for the year
1,850
7,249
33,107
1,407
43,613
At 31 August 2023
20,196
79,210
44,515
38,565
182,486
At 31 August 2023
141,945
19,804
175,122
4,602
341,473
At 31 August 2022
143,795
23,565
77,258
5,582
250,200
Amounts falling due within one year
Trade debtors
90,768
802,480
Accrued income and prepayments
1,756
7,474
Lamba Welding Systems Limited
Notes to the Accounts
for the year ended 31 August 2023
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
10,000
10,000
Trade creditors
64,422
275,306
Taxes and social security
17,003
106,371
Other creditors
15,524
20,805
Loans from directors
5,920
9,706
Deferred income
48,500
71,172
8
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
100 Ordinary A shares of £1 each
100
100
50 Ordinary B shares of £1 each
50
1
Shares issued during the period:
49 Ordinary B shares of £1 each
49
10
Average number of employees
During the year the average number of employees was 13 (2022: 11).
