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REGISTERED NUMBER: 07960283 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 August 2023

for

L G Daniels Ltd

L G Daniels Ltd (Registered number: 07960283)






Contents of the Financial Statements
for the Year Ended 31 August 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L G Daniels Ltd

Company Information
for the Year Ended 31 August 2023







DIRECTOR: L J Daniels





REGISTERED OFFICE: 76 Heath Road
Navenby
Lincoln
LN5 0TT





REGISTERED NUMBER: 07960283 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ

L G Daniels Ltd (Registered number: 07960283)

Balance Sheet
31 August 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 1,083 1,083
Tangible assets 5 25,513 51,001
Investments 6 200 200
26,796 52,284

CURRENT ASSETS
Debtors 7 45,761 90,663
Cash at bank 54,683 54,539
100,444 145,202
CREDITORS
Amounts falling due within one year 8 (104,433 ) (123,506 )
NET CURRENT (LIABILITIES)/ASSETS (3,989 ) 21,696
TOTAL ASSETS LESS CURRENT
LIABILITIES

22,807

73,980

CREDITORS
Amounts falling due after more than one
year

9

(17,480

)

(27,251

)

PROVISIONS FOR LIABILITIES (4,847 ) (9,690 )
NET ASSETS 480 37,039

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 380 36,939
SHAREHOLDERS' FUNDS 480 37,039

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

L G Daniels Ltd (Registered number: 07960283)

Balance Sheet - continued
31 August 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 director and authorised for issue on 5 February 2024 and were signed by:





L J Daniels - Director


L G Daniels Ltd (Registered number: 07960283)

Notes to the Financial Statements
for the Year Ended 31 August 2023

1. STATUTORY INFORMATION

L G Daniels Ltd 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.

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.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 4 ) .

L G Daniels Ltd (Registered number: 07960283)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 September 2022
and 31 August 2023 1,083
NET BOOK VALUE
At 31 August 2023 1,083
At 31 August 2022 1,083

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 September 2022 59,139 61,815 4,124 125,078
Disposals (32,591 ) - - (32,591 )
At 31 August 2023 26,548 61,815 4,124 92,487
DEPRECIATION
At 1 September 2022 28,583 41,698 3,796 74,077
Charge for year 6,236 5,029 328 11,593
Eliminated on disposal (18,696 ) - - (18,696 )
At 31 August 2023 16,123 46,727 4,124 66,974
NET BOOK VALUE
At 31 August 2023 10,425 15,088 - 25,513
At 31 August 2022 30,556 20,117 328 51,001

6. FIXED ASSET INVESTMENTS
Other
loans
£   
At 1 September 2022
and 31 August 2023 200

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 45,761 90,663

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,648 10,648
Trade creditors 53 701
Amounts owed to group undertakings 82,048 84,980
Taxation and social security 10,475 26,043
Other creditors 1,209 1,134
104,433 123,506

L G Daniels Ltd (Registered number: 07960283)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 17,480 27,251

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary Shares £1 100 100