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Company registration number: 05693439

L.G.H. Financial Management Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 January 2022

 

L.G.H. Financial Management Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 5

Notes to the Unaudited Financial Statements

6 to 9

 

L.G.H. Financial Management Limited

Company Information

Director

Mr L G Harrison

Registered office

16 Stanneylands Road
Wilmslow
SK9 4ER

Accountants

Abrams Ashton Ltd
Chartered Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

 

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.

......................................

Abrams Ashton Ltd
Chartered Accountants
7 Waterside Court
St. Helens
Merseyside
WA9 1UA

5 September 2022

 

L.G.H. Financial Management Limited

(Registration number: 05693439)
Balance Sheet as at 31 January 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

4

235

Current assets

 

Debtors

5

43,707

29,459

Cash at bank and in hand

 

84,765

84,743

 

128,472

114,202

Creditors: Amounts falling due within one year

6

(19,228)

(20,066)

Net current assets

 

109,244

94,136

Total assets less current liabilities

 

109,248

94,371

Creditors: Amounts falling due after more than one year

6

(11,083)

(13,417)

Provisions for liabilities

(1)

(45)

Net assets

 

98,164

80,909

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

98,064

80,809

Shareholders' funds

 

98,164

80,909

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 director on 26 August 2022
 

.........................................

Mr L G Harrison
Director

 

L.G.H. Financial Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
16 Stanneylands Road
Wilmslow
SK9 4ER
England

2

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

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

 

L.G.H. Financial Management Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

4

Tangible assets

Office equipment
£

Total
£

Cost or valuation

Additions

699

699

At 31 January 2022

699

699

Depreciation

At 1 February 2021

464

464

Charge for the year

231

231

At 31 January 2022

695

695

Carrying amount

At 31 January 2022

4

4

At 31 January 2021

235

235

5

Debtors

2022
£

2021
£

Trade debtors

-

12,690

Other debtors

43,707

16,769

43,707

29,459

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Bank loans and overdrafts

7

2,333

583

Other creditors

 

3,895

9,414

Corporation tax

 

13,000

10,069

 

19,228

20,066

 

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
£

Due after one year

 

Loans and borrowings

7

11,083

13,417

7

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

11,083

13,417

2022
£

2021
£

Current loans and borrowings

Bank borrowings

2,333

583

8

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

Director's loan

16,769

133,963

(107,025)

43,707

         
       

 

2021

At 1 February 2020
£

Advances to directors
£

Repayments by director
£

At 31 January 2021
£

Mr L G Harrison

Director's loan

31,367

65,207

(79,805)

16,769

         
       

 

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.