Registration number:
Labour Direct (SW) Ltd
for the Year Ended 30 September 2022
Labour Direct (SW) Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Financial Statements |
Labour Direct (SW) Ltd
Company Information
Directors |
Mr Daniel John Searle Mr William David Searle |
Registered office |
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Accountants |
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Labour Direct (SW) Ltd
(Registration number: 08111210)
Balance Sheet as at 30 September 2022
Note |
2022 |
2021 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Total equity |
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For the financial year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Labour Direct (SW) Ltd
(Registration number: 08111210)
Balance Sheet as at 30 September 2022
Approved and authorised by the
.........................................
Mr Daniel John Searle
Director
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Mr William David Searle
Director
Labour Direct (SW) Ltd
Notes to the Financial Statements for the Year Ended 30 September 2022
General information |
The company is incorporated in England and Wales.
The address of its registered office is:
The principal place of business is:
Lower Rosudgeon Farm
Prussia Cove Lane
Rosudgeon
Penzance
Cornwall
TR20 9AX
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
15% reducing balance |
Motor vehicles |
25% reducing balance |
Labour Direct (SW) Ltd
Notes to the Financial Statements for the Year Ended 30 September 2022
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Goodwill |
Straight line over 5 years |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments.
Dividends
Dividend distribution to the company shareholder is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Labour Direct (SW) Ltd
Notes to the Financial Statements for the Year Ended 30 September 2022
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 October 2021 |
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At 30 September 2022 |
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Amortisation |
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At 1 October 2021 |
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At 30 September 2022 |
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Carrying amount |
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At 30 September 2022 |
- |
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Labour Direct (SW) Ltd
Notes to the Financial Statements for the Year Ended 30 September 2022
Tangible assets |
Motor vehicles |
Other property, plant and equipment |
Total |
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Cost or valuation |
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At 1 October 2021 |
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Additions |
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Disposals |
( |
- |
( |
At 30 September 2022 |
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Depreciation |
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At 1 October 2021 |
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Charge for the year |
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Eliminated on disposal |
( |
- |
( |
At 30 September 2022 |
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Carrying amount |
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At 30 September 2022 |
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At 30 September 2021 |
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Debtors |
2022 |
2021 |
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Trade debtors |
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Prepayments |
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Labour Direct (SW) Ltd
Notes to the Financial Statements for the Year Ended 30 September 2022
Creditors |
Creditors: amounts falling due within one year
Note |
2022 |
2021 |
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Due within one year |
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Bank loans and overdrafts |
- |
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Trade creditors |
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- |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Loans and borrowings |
2022 |
2021 |
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Current loans and borrowings |
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Bank borrowings |
- |
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Related party transactions |
Transactions with directors |
2022 |
At 1 October 2021 |
Advances to directors |
Repayments by directors |
At 30 September 2022 |
Mr Daniel John Searle |
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Interest-free loan |
( |
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( |
( |
Mr William David Searle |
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Interest-free loan |
( |
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( |
( |
Labour Direct (SW) Ltd
Notes to the Financial Statements for the Year Ended 30 September 2022
2021 |
At 1 October 2020 |
Advances to directors |
Repayments by directors |
At 30 September 2021 |
Mr Daniel John Searle |
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Interest-free loan |
( |
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( |
( |
Mr William David Searle |
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Interest-free loan |
( |
- |
( |
( |
Directors' remuneration
The directors' remuneration for the year was as follows:
2022 |
2021 |
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Remuneration |
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Labour Direct (SW) Ltd
Notes to the Financial Statements for the Year Ended 30 September 2022
Summary of transactions with other related parties
Loan from related party
2022 |
Other related parties |
Total |
At start of period |
( |
( |
At end of period |
( |
( |
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2021 |
Other related parties |
Total |
At start of period |
( |
( |
Advanced |
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Repaid |
( |
( |
At end of period |
( |
( |
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