Company registration number:
L.G.H. Financial Management Limited
for the Year Ended 31 January 2022
L.G.H. Financial Management Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
L.G.H. Financial Management Limited
Company Information
Director |
Mr L G Harrison |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
L.G.H. Financial Management Limited
for the Year Ended 31 January 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of L.G.H. Financial Management Limited for the year ended 31 January 2022 as set out on pages 3 to 9 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
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of L.G.H. Financial Management Limited, as a body, in accordance with the terms of our engagement letter dated 23 May 2020. Our work has been undertaken solely to prepare for your approval the accounts of L.G.H. Financial Management Limited and state those matters that we have agreed to state to the Board of Directors of L.G.H. Financial Management Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than L.G.H. Financial Management Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that L.G.H. Financial Management Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of L.G.H. Financial Management Limited. You consider that L.G.H. Financial Management Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of L.G.H. Financial Management 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 accounts.
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Chartered Accountants
St. Helens
Merseyside
WA9 1UA
L.G.H. Financial Management Limited
(Registration number: 05693439)
Balance Sheet as at 31 January 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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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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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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Shareholders' funds |
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For the financial year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his 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.
L.G.H. Financial Management Limited
(Registration number: 05693439)
Balance Sheet as at 31 January 2022
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.
L.G.H. Financial Management Limited
(Registration number: 05693439)
Balance Sheet as at 31 January 2022
Approved and authorised by the
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Director
L.G.H. Financial Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared on the historical cost basis. The financial statements have been prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover from the provision of general accounting services is recognised when services are provided and is stated net of Flat Rate Value Added Tax.
Government grants
Government grants are accounted for using the accruals model under FRS102. Government grants, in respect of the Coronavirus Job Retention Scheme, are included in the period to which the grant relates.
Deferred tax
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
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.
L.G.H. Financial Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022
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 |
Office equipment |
33% straight line |
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
L.G.H. Financial Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022
Tangible assets |
Office equipment |
Total |
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Cost or valuation |
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Additions |
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At 31 January 2022 |
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Depreciation |
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At 1 February 2021 |
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Charge for the year |
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At 31 January 2022 |
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Carrying amount |
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At 31 January 2022 |
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At 31 January 2021 |
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Debtors |
2022 |
2021 |
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Trade debtors |
- |
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Other debtors |
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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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Other creditors |
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Corporation tax |
13,000 |
10,069 |
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L.G.H. Financial Management Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022
Creditors: amounts falling due after more than one year
Note |
2022 |
2021 |
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Due after one year |
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Loans and borrowings |
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Loans and borrowings |
2022 |
2021 |
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Non-current loans and borrowings |
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Bank borrowings |
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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 February 2021 |
Advances to directors |
Repayments by director |
At 31 January 2022 |
Mr L G Harrison |
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Director's loan |
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( |
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2021 |
At 1 February 2020 |
Advances to directors |
Repayments by director |
At 31 January 2021 |
Mr L G Harrison |
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Director's loan |
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( |
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The above loans are unsecured, interest free and repayable on demand. All the above figures are disclosed on an aggregated basis. The loans were repaid shortly after the year end.