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REGISTERED NUMBER: SC344512 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

LJX LTD.

LJX LTD. (REGISTERED NUMBER: SC344512)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

LJX LTD.

COMPANY INFORMATION
for the Year Ended 30 June 2023







DIRECTORS: D Kerr
S Smith





REGISTERED OFFICE: Mid Glen Farm
West Glen Road
Langbank
Port Glasgow
PA14 6YL





REGISTERED NUMBER: SC344512 (Scotland)





ACCOUNTANTS: Davidson & Workman
16 Royal Terrace
Glasgow
G3 7NY

LJX LTD. (REGISTERED NUMBER: SC344512)

BALANCE SHEET
30 June 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 833,977 853,646

CURRENT ASSETS
Stocks 23,567 -
Debtors 5 353,874 318,306
Cash at bank and in hand 3,081 1,389
380,522 319,695
CREDITORS
Amounts falling due within one year 6 795,184 794,217
NET CURRENT LIABILITIES (414,662 ) (474,522 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

419,315

379,124

CREDITORS
Amounts falling due after more than one year 7 (220,593 ) (325,855 )

PROVISIONS FOR LIABILITIES 8 (141,123 ) (161,132 )
NET ASSETS/(LIABILITIES) 57,599 (107,863 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 57,499 (107,963 )
57,599 (107,863 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LJX LTD. (REGISTERED NUMBER: SC344512)

BALANCE SHEET - continued
30 June 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:





D Kerr - Director


LJX LTD. (REGISTERED NUMBER: SC344512)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

LJX Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company.
Monetary amounts in these financial statements are rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

LJX LTD. (REGISTERED NUMBER: SC344512)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash generating unit) is estimated to be less than it's carrying amount, the carrying amount of the asset (or cash generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash generating unit) is increased to the revised estimate of its recoverable amount but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation surplus.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2022 - 6 ) .

LJX LTD. (REGISTERED NUMBER: SC344512)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 1,405,293 51,711 5,410 1,462,414
Additions 103,840 - - 103,840
Disposals (139,000 ) - - (139,000 )
At 30 June 2023 1,370,133 51,711 5,410 1,427,254
DEPRECIATION
At 1 July 2022 572,104 33,245 3,419 608,768
Charge for year 42,987 2,770 498 46,255
Eliminated on disposal (61,746 ) - - (61,746 )
At 30 June 2023 553,345 36,015 3,917 593,277
NET BOOK VALUE
At 30 June 2023 816,788 15,696 1,493 833,977
At 30 June 2022 833,189 18,466 1,991 853,646

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2022 1,103,985 17,600 1,121,585
Additions 73,000 - 73,000
Disposals (139,000 ) - (139,000 )
At 30 June 2023 1,037,985 17,600 1,055,585
DEPRECIATION
At 1 July 2022 408,401 6,231 414,632
Charge for year 34,336 1,577 35,913
Eliminated on disposal (61,746 ) - (61,746 )
At 30 June 2023 380,991 7,808 388,799
NET BOOK VALUE
At 30 June 2023 656,994 9,792 666,786
At 30 June 2022 695,584 11,369 706,953

LJX LTD. (REGISTERED NUMBER: SC344512)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade Debtors 271,059 240,480
Other debtors 4,989 -
Directors' current accounts 60,665 60,665
S455 Tax 17,161 17,161
353,874 318,306

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 10,885 11,136
Hire purchase contracts 161,400 201,663
Trade creditors 74,250 -
Factoring Account 64,757 110,292
Tax 20,132 20,128
Social security and other taxes 83,865 45,628
VAT 183,735 237,999
Other creditors 159,114 90,723
Directors' current accounts 28,546 61,898
Accrued expenses 8,500 14,750
795,184 794,217

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans - 1-2 years 10,886 11,136
Bank loans - 2-5 years 8,461 17,843
Hire purchase contracts 201,246 296,876
220,593 325,855

8. PROVISIONS FOR LIABILITIES
30.6.23 30.6.22
£    £   
Deferred tax 141,123 161,132

Deferred
tax
£   
Balance at 1 July 2022 161,132
Credit to Income Statement during year (20,009 )
Balance at 30 June 2023 141,123

LJX LTD. (REGISTERED NUMBER: SC344512)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2023

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23 30.6.22
£    £   
D Kerr
Balance outstanding at start of year 61,898 67,678
Amounts advanced - 29,250
Amounts repaid (32,352 ) (35,030 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 29,546 61,898

S Smith
Balance outstanding at start of year (60,665 ) 29,949
Amounts advanced - 1,150
Amounts repaid - (91,764 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (60,665 ) (60,665 )

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LJX LTD.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of LJX Ltd. for the year ended 30 June 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of LJX Ltd., as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of LJX Ltd. and state those matters that we have agreed to state to the Board of Directors of LJX Ltd., as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that LJX Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of LJX Ltd.. You consider that LJX Ltd. 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 financial statements of LJX Ltd.. 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 financial statements.






Davidson & Workman
16 Royal Terrace
Glasgow
G3 7NY


25 October 2023