Registered Number
:
02692797
|
For the year ended 30 June 2017
England and Wales
Unaudited Financial Statements
For the year ended 30 June 2017
Stewart Lawton Limited
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
Stewart Lawton Limited
Statement of Financial Position
2016
2017
Property
,
plant and equipment
|
727,995
741,380
2
727,995
741,380
1,116,821
1,288,908
Trade and other receivables
|
165,616
181,517
3
1,159,216
Cash and cash equivalents
|
1,013,200
2,483,625
2,441,653
Trade and other payables
:
amounts falling due within one
|
year
|
(928,146)
(863,630)
4
1,513,507
1,619,995
Net current assets
Total assets less current liabilities
|
2,347,990
2,254,887
(5,324)
(6,760)
Provisions for liabilities
|
2,342,666
Net assets
2,248,127
100
100
188,397
188,397
5
2,154,169
2,059,630
2,342,666
2,248,127
Shareholders' funds
For the year ended 30 June 2017 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 of its financial statements for the year ended 30 June 2017 in accordance with Section 476 of the Companies Act 2006
|
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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
|
Section
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
.
|
In accordance with Section
444
of the Companies Act
2006
,
the Income Statement has not been delivered
.
|
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
|
These financial statements were approved and authorised for issue by the Board on 11 September 2017 and were signed by:
|
1 of 5
For the year ended 30 June 2017
Stewart Lawton Limited
Statement of Financial Position Continued
The notes form part of these financial statements
|
2 of 5
For the year ended 30 June 2017
Stewart Lawton Limited
Notes to the Financial Statements
Statutory Information
Stewart Lawton Limited is a private limited company
,
limited by shares
,
domiciled in England and Wales
,
|
registration number
02692797
.
|
York Road
Islington
Tadcaster
LS24 8EA
The presentation currency is £ sterling
.
|
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section
1
A of Financial
|
Reporting Standard
102
'
The Financial Reporting Standard applicable in the UK and Republic of Ireland
'
and the
|
Companies Act
2006
.
The financial statements have been prepared under the historical costs convention as
|
modified by the revaluation of certain assets
.
|
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
|
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
|
Land and buildings
Plant and machinery
Fixtures and fittings
The company
''
s freehold properties were professionally valued in July
2007
.
This valuation has been reduced by
|
subsequent depreciation
.
Under the transitional provisions of the Financial Reporting Standard for Smaller Entities
|
(
effective January
2015
)
the properties continue to be stated at that valuation less accumulated depreciation to
|
date and that valuation has not been updated
.
|
The company
''
s freehold properties are revalued in full every five years
.
Interim valuations are carried out when it
|
is likely that there has been a material change in value
.
|
Investment property
Investment properties are included in the balance sheet at their open market value at the balance sheet date. The resulting aggregate surplus or deficit is transferred to a revaluation reserve. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years. Although this accounting policy is in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015), it is a departure from the general requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the directors compliance with the standard is necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount of this which might otherwise have been charged cannot be separately identified or quantified.
|
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
|
3 of 5
For the year ended 30 June 2017
Stewart Lawton Limited
Notes to the Financial Statements Continued
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.
|
2
.
Property
,
plant and equipment
|
1,042,209
94,100
185,913
762,196
762,196
185,913
94,100
1,042,209
Provision for depreciation and impairment
|
300,829
66,640
171,777
62,412
Charge for year
13,385
6,000
2,585
4,800
314,214
72,640
174,362
67,212
694,984
11,551
21,460
727,995
699,784
14,136
27,460
741,380
If long leasehold property had not been revalued it would have been included at the following historical cost
:
|
£
218
,
569
(
2016
:
£
218
,
569
)
,
aggregate depreciation £
85
,
811
(
2016
:
£
81
,
011
).
|
Long leasehold property was valued on an open market basis on
20
July
2007
by Lawrence Hannah Property
|
Consultants
.
The directors considered the open market value of the long leasehold property at
30
June
2017
and
|
agreed there was no movement in value
.
|
The directors consider that the open market value of the investment property remain unchanged
.
|
3
.
Trade and other receivables
|
2016
2017
24,191
-
Amounts owed by group undertakings and participating interests
|
125,680
125,680
31,646
39,936
165,616
181,517
The debtors above include the following amounts falling due after more than one year
:
|
Amounts owed by group undertakings and participating interests
|
125,680
125,680
4 of 5
For the year ended 30 June 2017
Stewart Lawton Limited
Notes to the Financial Statements Continued
4
.
Trade and other payables
:
amounts falling due within one year
|
2016
2017
375,174
440,663
Taxation and social security
|
171,555
138,967
316,901
348,516
863,630
928,146
Revaluation reserve at
01
July
2016
|
188,397
188,397
Revaluation reserve at
30
June
2017
|
6
.
Related party transactions
|
At the balance sheet date the company was owed £
125
,
680
(
2016
:
£
125
,
680
)
by Lawtons Capital Limited
,
a
|
company in which the directors have a controlling interest
.
|
The ultimate controlling party is S Lawton
.
|
7
.
Directors advances and guarantees
|
Repaid
Loaned
S Lawton
Director's loan account
(220,343)
(265,957)
(236,400)
(282,014)
(220,343)
(265,957)
(236,400)
(282,014)
D Lawton
Director's loan account
(94,560)
(80,000)
(94,560)
(80,000)
(94,560)
(80,000)
(94,560)
(80,000)
5 of 5