Registered number:
09116976
Lambert & Foster (Projects) Limited
Financial statements
for the year ended
31 March 2022
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Lambert & Foster (Projects) Limited
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Company information
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T J Belcher
(appointed
6 April 2021
)
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L J Mummery
(appointed
6 April 2021
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Lambert & Foster (Projects) Limited
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Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Lambert & Foster (Projects) Limited
for the year ended 31 March 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lambert & Foster (Projects) Limited for the year ended 31 March 2022 which comprise the balance sheet, the statement of changes in equity
and the related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.
This report is made solely to the board of directors of Lambert & Foster (Projects) Limited, as a body, in accordance with the terms of our engagement letter dated
7 August 2018. Our work has been undertaken solely
to prepare for your approval the financial statements of Lambert & Foster (Projects) Limited and state those matters that we have agreed to state to the board of directors of Lambert & Foster (Projects) Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lambert & Foster (Projects) Limited and its board of directors, as a body, for our work or for this report.
It is your duty to ensure that Lambert & Foster (Projects) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lambert & Foster (Projects) Limited. You consider that Lambert & Foster (Projects) Limited is exempt from the statutory audit requirement for the year.
We
have not been instructed to carry out an audit or review of the financial statements of Lambert & Foster (Projects) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Chavereys
Chartered Accountants
Faversham
17 November 2022
Page 1
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Lambert & Foster (Projects) Limited
Registered number:
09116976
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Balance sheet
as at
31 March 2022
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Debtors due within 1 year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Capital redemption reserve
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Page 2
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Lambert & Foster (Projects) Limited
Registered number:
09116976
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Balance sheet
(continued)
as at
31 March 2022
The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The
financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by
:
The notes on pages 5 to 7 form part of these financial statements.
Page 3
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Lambert & Foster (Projects) Limited
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Statement of changes in equity
for the year ended
31 March 2022
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Capital redemption reserve
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Dividends: Equity capital
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Shares issued during the year
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Dividends: Equity capital
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The notes on pages 5 to 7 form part of these financial statements.
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Page 4
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Lambert & Foster (Projects) Limited
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Notes to the accounts
for the year ended 31 March 2022
Lambert and Foster (Projects) Limited is a private company, limited by shares and incorporated in England and Wales.
The company number and address of the registered office are given on the company information page.
2.
Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of
Financial Reporting Standard 102, the Financial Reporting Standard applicable in
the UK and the Republic of Ireland and the Companies Act 2006
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The financial statements are presented in pound sterling and all values are rounded to the nearest pound (£) except where otherwise indicated.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Page 5
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Lambert & Foster (Projects) Limited
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Notes to the accounts
for the year ended 31 March 2022
2.
Accounting policies (continued)
Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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The average monthly number of employees, including directors, during the year was
4
(2021 -
2
)
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Page 6
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Lambert & Foster (Projects) Limited
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Notes to the accounts
for the year ended 31 March 2022
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Amounts owed by group undertakings
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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Related party transactions
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At the year end, a
director
owed the company £
13,750
(2021 £
13,750
).
At the year end, another
director
owed the company £
13,750
(2021 £
38,000
). During the year, no advances were made to the director, and repayments of £24,250 were received by the company.
Page 7
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