Company Registration No. 09576157 (England and Wales)
LAM GROUP LTD
Unaudited accounts
for the year ended 31 October 2022
LAM GROUP LTD
Unaudited accounts
Contents
LAM GROUP LTD
Company Information
for the year ended 31 October 2022
Directors
Alexander Lam
Sebastian Lam
Simon Lam
Company Number
09576157 (England and Wales)
Registered Office
6 CLIVE HOUSE
80 PROSPECT HILL
REDDITCH
WORCESTERSHIRE
B97 4BY
ENGLAND
Accountants
Kite & Co Accountants Ltd
6 Clive House
80 Prospect Hill
Redditch
Worcestershire
B97 4BY
LAM GROUP LTD
Statement of financial position
as at 31 October 2022
Tangible assets
2,591,486
2,449,750
Cash at bank and in hand
354,652
539,098
Creditors: amounts falling due within one year
(314,003)
(319,840)
Net current assets
58,276
245,629
Total assets less current liabilities
2,649,762
2,695,379
Creditors: amounts falling due after more than one year
(2,022,879)
(2,135,403)
Net assets
626,883
559,976
Called up share capital
200,000
200,000
Profit and loss account
426,883
359,976
Shareholders' funds
626,883
559,976
For the year ending 31 October 2022 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 20 July 2023 and were signed on its behalf by
Sebastian Lam
Director
Company Registration No. 09576157
LAM GROUP LTD
Notes to the Accounts
for the year ended 31 October 2022
LAM GROUP LTD is a private company, limited by shares, registered in England and Wales, registration number 09576157. The registered office is 6 CLIVE HOUSE, 80 PROSPECT HILL, REDDITCH, WORCESTERSHIRE, B97 4BY, ENGLAND.
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 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.
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
Leasehold Improvements - 10% straight line
Fixtures & fittings
20% reducing balance basis
Other tangible fixed assets
Freehold Properties - 0% straight line
Inventories have been valued at the lower of cost and net realisable value.
The tax currently payable is based on the taxable profit. Taxable profit differs from net profit as reported in the Profit and Loss Account because it excludes items of turnover or expenses that are taxable or deductible in other years, and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantially enacted by the reporting date.
Deferred tax liabilities are generally recognised for all timing differences and 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.
LAM GROUP LTD
Notes to the Accounts
for the year ended 31 October 2022
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 November 2021
2,113,907
819,833
2,933,740
Additions
95,000
186,736
281,736
At 31 October 2022
2,208,907
1,006,569
3,215,476
At 1 November 2021
62,355
421,635
483,990
Charge for the year
20,000
120,000
140,000
At 31 October 2022
82,355
541,635
623,990
At 31 October 2022
2,126,552
464,934
2,591,486
At 31 October 2021
2,051,552
398,198
2,449,750
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
95,549
66,000
Trade creditors
184,811
171,041
Taxes and social security
6,456
56,039
Other creditors
21,372
21,360
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Creditors: amounts falling due after more than one year
2022
2021
Other creditors
52,085
69,335
Loans from directors
1,970,794
1,970,794
8
Average number of employees
During the year the average number of employees was 64 (2021: 33).