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REGISTERED NUMBER: 09077674 (England and Wales)















LJG Associates Limited

Unaudited Financial Statements

for the year ended

31 December 2022






LJG Associates Limited (Registered number: 09077674)

Contents of the Financial Statements
for the year ended 31 December 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5

Chartered Accountants' Report 6

LJG Associates Limited

Company Information
for the year ended 31 December 2022







DIRECTORS: J Farrant
L Farrant
G A Farrant





REGISTERED OFFICE: 8 Hopper Way
Diss
Norfolk
IP22 4GT





REGISTERED NUMBER: 09077674 (England and Wales)





ACCOUNTANTS: Haines Watts
8 Hopper Way
Diss
Norfolk
IP22 4GT

LJG Associates Limited (Registered number: 09077674)

Balance Sheet
31 December 2022

2022 2021
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,817 6,105
Investment property 5 380,000 380,000
384,817 386,105

CURRENT ASSETS
Debtors 6 14,791 14,791
Cash at bank 19 150
14,810 14,941
CREDITORS
Amounts falling due within one year 7 (539,965 ) (525,247 )
NET CURRENT LIABILITIES (525,155 ) (510,306 )
TOTAL ASSETS LESS CURRENT LIABILITIES (140,338 ) (124,201 )

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 8 (140,638 ) (124,501 )
(140,338 ) (124,201 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

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 2 February 2024 and were signed on its behalf by:





L Farrant - Director


LJG Associates Limited (Registered number: 09077674)

Notes to the Financial Statements
for the year ended 31 December 2022


1. STATUTORY INFORMATION

LJG Associates Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

The company has a deficit in reserves at the year end. The long term funding of the company is by way of director loans, the directors have made a commitment to continue to support the company for the foreseeable future, therefore the accounts have been prepared on a going concern basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33.33% straight line
Fixtures and fittings - 10% straight line
Motor vehicles - 33.33% straight line
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

LJG Associates Limited (Registered number: 09077674)

Notes to the Financial Statements - continued
for the year ended 31 December 2022


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2022
and 31 December 2022 3,590 2,113 17,092 6,197 28,992
DEPRECIATION
At 1 January 2022 2,292 1,028 13,370 6,197 22,887
Charge for year 194 163 931 - 1,288
At 31 December 2022 2,486 1,191 14,301 6,197 24,175
NET BOOK VALUE
At 31 December 2022 1,104 922 2,791 - 4,817
At 31 December 2021 1,298 1,085 3,722 - 6,105

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2022
and 31 December 2022 380,000
NET BOOK VALUE
At 31 December 2022 380,000
At 31 December 2021 380,000

Fair value at 31 December 2022 is represented by:
£   
Valuation in 2020 76,315
Cost 303,685
380,000

If investment property had not been revalued it would have been included at the following historical cost:

2022 2021
£    £   
Cost 303,685 303,685

Investment property was valued on an open market basis on 31 December 2021 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 14,791 14,791

LJG Associates Limited (Registered number: 09077674)

Notes to the Financial Statements - continued
for the year ended 31 December 2022


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 346 -
Trade creditors 252 33
Other creditors 539,367 525,214
539,965 525,247

8. RESERVES
Retained
earnings
£   

At 1 January 2022 (124,501 )
Deficit for the year (16,137 )
At 31 December 2022 (140,638 )

Included in Retained earnings is £76,315 (2021: £76,315) relating to investment property fair value reserves that are not distributable.

9. RELATED PARTY DISCLOSURES

At the year end the company owed the directors £538,060 (2021: £523,792) in relation to an interest free loan with no set repayment terms.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
LJG Associates Limited


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 LJG Associates Limited for the year ended 31 December 2022 which comprise the Income Statement, 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of LJG Associates Limited, 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 LJG Associates Limited and state those matters that we have agreed to state to the Board of Directors of LJG Associates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LJG Associates Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that LJG Associates Limited 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 loss of LJG Associates Limited. You consider that LJG Associates 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 financial statements of LJG Associates 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 financial statements.






Haines Watts
8 Hopper Way
Diss
Norfolk
IP22 4GT


2 February 2024