Company Registration No. 11209713 (England and Wales)
Lams Accountants Limited
Unaudited accounts
for the year ended 31 March 2023
Lams Accountants Limited
Unaudited accounts
Contents
Lams Accountants Limited
Company Information
for the year ended 31 March 2023
Company Number
11209713 (England and Wales)
Registered Office
20 BURTON ROAD
DIDSBURY
MANCHESTER
GREATER MANCHESTER
M20 3ED
UNITED KINGDOM
Accountants
Lams Accountants
20 Burton Road
Didsbury
Manchester
Greater Manchester
M20 3ED
Lams Accountants Limited
Statement of financial position
as at
31 March 2023
Tangible assets
57,792
6,860
Cash at bank and in hand
5,030
5,646
Creditors: amounts falling due within one year
(268)
(3,433)
Net current assets
15,262
13,088
Total assets less current liabilities
73,054
19,948
Creditors: amounts falling due after more than one year
(42,463)
(1,218)
Provisions for liabilities
Called up share capital
100
100
Profit and loss account
19,510
18,630
Shareholders' funds
19,610
18,730
For the year ending 31 March 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 director acknowledges his 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 and authorised for issue on 2 April 2023 and were signed on its behalf by
Eric Ho Yin Lam
Director
Company Registration No. 11209713
Lams Accountants Limited
Notes to the Accounts
for the year ended 31 March 2023
Lams Accountants Limited is a private company, limited by shares, registered in England and Wales, registration number 11209713. The registered office is 20 BURTON ROAD, DIDSBURY, MANCHESTER, GREATER MANCHESTER, M20 3ED, UNITED KINGDOM.
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:
Plant & machinery
15% Reducing Balance Method
Motor vehicles
25% Reducing Balance Method
Fixtures & fittings
15% Reducing Balance Method
Computer equipment
20% Reducing Balance Method
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Lams Accountants Limited
Notes to the Accounts
for the year ended 31 March 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2022
-
-
5,625
6,574
12,199
Additions
1,634
58,505
224
3,286
63,649
At 31 March 2023
1,634
58,505
5,849
9,860
75,848
At 1 April 2022
-
-
2,104
3,235
5,339
Charge for the year
172
10,970
547
1,028
12,717
At 31 March 2023
172
10,970
2,651
4,263
18,056
At 31 March 2023
1,462
47,535
3,198
5,597
57,792
At 31 March 2022
-
-
3,521
3,339
6,860
Amounts falling due within one year
Trade debtors
4,908
5,282
Accrued income and prepayments
1,229
1,107
Amounts falling due after more than one year
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
577
-
Taxes and social security
(4,669)
4,726
Loans from directors
4,360
(2,623)
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
40,765
-
8
Average number of employees
During the year the average number of employees was 2 (2022: 2).