A & A Lamb Limited - Filleted accounts

Registered number

03955578

A & A Lamb Limited

Unaudited Filleted Accounts

31 March 2018

A & A Lamb Limited
Registered number:		03955578
Balance Sheet
as at 31 March 2018

Notes			2018			2017
£				£
Fixed assets
Tangible assets	3		577,091			489,991

Current assets
Stocks		1,555,393			1,127,570
Debtors	4	636,803			782,041
Cash at bank and in hand		338,772			653,742
		2,530,968			2,563,353

Creditors: amounts falling due within one year	5	(1,850,091)			(1,658,443)

Net current assets			680,877			904,910

Total assets less current liabilities			1,257,968			1,394,901


Provisions for liabilities			(100,218)			(92,648)


Net assets			1,157,750			1,302,253

Capital and reserves
Called up share capital			1,000			1,000
Profit and loss account			1,156,750			1,301,253

Shareholders' funds			1,157,750			1,302,253

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




M A Stacey
Director
Approved by the board on 18 September 2018

A & A Lamb Limited
Notes to the Accounts
for the year ended 31 March 2018


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant, equipment and fixtures			15% & 25% on written down values
	Motor vehicles			25% on written down values
	Leasehold improvements			10% on cost

	Stocks and work in progress
	Stocks and work in progress is measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.

	Leased assets
	Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees					2018		2017
Number							Number

	Average number of persons employed by the company					52		47


3	Tangible fixed assets
		Leasehold improvements		Plant, equipment and fixtures		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 April 2017	39,439		471,587		444,611		955,637
	Additions	-		103,286		182,680		285,966
	Disposals	-		(40,603)		(99,228)		(139,831)
	At 31 March 2018	39,439		534,270		528,063		1,101,772

	Depreciation
	At 1 April 2017	11,831		264,963		188,852		465,646
	Charge for the year	3,943		62,864		81,694		148,501
	On disposals	-		(25,705)		(63,761)		(89,466)
	At 31 March 2018	15,774		302,122		206,785		524,681

	Net book value
	At 31 March 2018	23,665		232,148		321,278		577,091
	At 31 March 2017	27,608		206,624		255,759		489,991


4	Debtors					2018		2017
£							£

	Trade debtors					612,792		765,486
	Other debtors					24,011		16,555
						636,803		782,041


5	Creditors: amounts falling due within one year					2018		2017
£							£

	Trade creditors					817,716		695,405
	Taxation and social security costs					273,240		290,245
	Other creditors					759,135		672,793
						1,850,091		1,658,443


6	Other financial commitments					2018		2017
£							£

	Total future minimum payments under non-cancellable operating leases					680,333		732,333


7	Other information

	A & A Lamb Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Walton New Road
	Upper Bruntingthorpe
	Lutterworth
	Leicestershire
	LE17 5RD