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REGISTERED NUMBER: 12370806 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2023

for

LRAIL LTD

LRAIL LTD (REGISTERED NUMBER: 12370806)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LRAIL LTD

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







Directors: L G Johnston
K M Johnston





Registered office: 1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ





Registered number: 12370806 (England and Wales)





Accountants: NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

LRAIL LTD (REGISTERED NUMBER: 12370806)

Balance Sheet
31 DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,033 929

CURRENT ASSETS
Debtors 5 64,332 24,588
Cash at bank 143,860 119,638
208,192 144,226
CREDITORS
Amounts falling due within one year 6 61,308 45,803
NET CURRENT ASSETS 146,884 98,423
TOTAL ASSETS LESS CURRENT
LIABILITIES

192,917

99,352

CREDITORS
Amounts falling due after more than one
year

7

(31,637

)

(11,246

)

PROVISIONS FOR LIABILITIES 9 (11,508 ) -
NET ASSETS 149,772 88,106

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 149,770 88,104
SHAREHOLDERS' FUNDS 149,772 88,106

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 January 2024 and were signed on its behalf by:





L G Johnston - Director


LRAIL LTD (REGISTERED NUMBER: 12370806)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Lrail 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on reducing balance
Computer equipment - 20% on cost

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

LRAIL LTD (REGISTERED NUMBER: 12370806)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 85 - 2,039 2,124
Additions 578 47,438 - 48,016
At 31 December 2023 663 47,438 2,039 50,140
DEPRECIATION
At 1 January 2023 51 - 1,144 1,195
Charge for year 133 2,372 407 2,912
At 31 December 2023 184 2,372 1,551 4,107
NET BOOK VALUE
At 31 December 2023 479 45,066 488 46,033
At 31 December 2022 34 - 895 929

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 64,332 24,588

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 5,324 5,853
Hire purchase contracts 5,842 -
Trade creditors 3,889 365
Taxation and social security 32,798 20,050
Other creditors 13,455 19,535
61,308 45,803

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 6,900 11,246
Hire purchase contracts 24,737 -
31,637 11,246

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 30,579 -

9. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 11,508 -

LRAIL LTD (REGISTERED NUMBER: 12370806)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Provided during year 11,508
Balance at 31 December 2023 11,508

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1 Ordinary 1 1 1
1 Ordinary A 1 1 1
2 2