Company Registration No. 11183450 (England and Wales)
LG Brickwork/Drives Ltd
Unaudited accounts
for the year ended 28 February 2023
LG Brickwork/Drives Ltd
Unaudited accounts
Contents
LG Brickwork/Drives Ltd
Company Information
for the year ended 28 February 2023
Company Number
11183450 (England and Wales)
Registered Office
114
Ferry Road
Hullbridge
Essex
SS5 6EU
England
Accountants
JLM Accountancy
11
Crouch Meadow
Hullbridge
Essex
SS5 6QF
LG Brickwork/Drives Ltd
Statement of financial position
as at 28 February 2023
Tangible assets
59,189
41,401
Cash at bank and in hand
23,013
6,664
Creditors: amounts falling due within one year
(74,862)
(40,530)
Net current (liabilities)/assets
(13,394)
3,083
Total assets less current liabilities
45,795
44,484
Creditors: amounts falling due after more than one year
(22,956)
(29,021)
Provisions for liabilities
Deferred tax
(8,468)
(6,965)
Called up share capital
100
100
Profit and loss account
14,271
8,398
Shareholders' funds
14,371
8,498
For the year ending 28 February 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 20 November 2023 and were signed on its behalf by
Mr Lewis Gibbons
Director
Company Registration No. 11183450
LG Brickwork/Drives Ltd
Notes to the Accounts
for the year ended 28 February 2023
LG Brickwork/Drives Ltd is a private company, limited by shares, registered in England and Wales, registration number 11183450. The registered office is 114, Ferry Road, Hullbridge, Essex, SS5 6EU, England.
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.
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
Reducing Balance - 20%
Motor vehicles
Straight line - 20%
Computer equipment
Reducing Balance - 33%
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.
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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
LG Brickwork/Drives Ltd
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2022
33,567
30,292
273
64,132
Additions
500
23,995
-
24,495
At 28 February 2023
34,067
54,287
273
88,627
At 1 March 2022
11,345
11,216
170
22,731
Charge for the year
2,244
4,429
34
6,707
At 28 February 2023
13,589
15,645
204
29,438
At 28 February 2023
20,478
38,642
69
59,189
At 28 February 2022
22,222
19,076
103
41,401
Raw materials
14,500
16,000
Work in progress
10,000
7,000
Amounts falling due within one year
Trade debtors
12,447
8,795
Amounts falling due after more than one year
Accrued income and prepayments
611
-
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
8,727
-
Obligations under finance leases and hire purchase contracts
6,376
-
Taxes and social security
3,266
4,061
Loans from directors
47,680
31,731
LG Brickwork/Drives Ltd
Notes to the Accounts
for the year ended 28 February 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
12,190
-
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 1 (2022: 1).