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Company registration number: |
12829345
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LANG AND GAN LIMITED
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REPORT OF THE DIRECTORS' AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 August 2023 |
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LANG AND GAN LIMITED |
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BALANCE SHEET |
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AS AT 31 August 2023
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2023 |
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2022 |
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Notes |
£ |
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£ |
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£ |
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£ |
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FIXED ASSETS | | | | | | | | | | | |
Tangible assets | | | 3 | | | 585,362 | | | | 260,612 | |
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| | | | | | | 585,362 | | | | 260,612 | |
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CURRENT ASSETS |
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Debtors | | | | 1,001 | | | | 0 | | | | |
Cash at bank and in hand | | | | 9,387 | | | | 6,546 | | | | |
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| | | | | 10,388 | | | | 6,546 | | | |
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CREDITORS |
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Amounts falling due within one year |
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(593,510) |
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(270,284) |
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NET CURRENT ASSETS |
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(583,122) |
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(263,738) |
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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2,240 |
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(3,126) |
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NET ASSETS |
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2,240 |
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(3,126) |
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CAPITAL AND RESERVES |
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Called-up equity share capital |
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2 |
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2 |
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Profit and loss account |
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2,238 |
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(3,128) |
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SHAREHOLDERS FUNDS |
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2,240 |
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(3,126) |
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For the year ending 31 August 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. | | | | | | | |
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. | | | | | | | |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts. | | | | | | | |
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All the members have consented to the preparation of abridged financial statements for the year ended 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006. | | | | | | | |
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The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime. | | | | | | | |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 20 March 2024 and signed on its behalf. | | | | | | | |
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.......................................................................... |
C Gan |
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20 March 2024
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The annexed notes form part of these financial statements. | | | | | | | |
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LANG AND GAN LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 AUGUST 2023 |
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1. |
Accounting policies |
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Basis of preparing the financial statements |
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The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements are prepared under the historical cost convention and incorporate the results of the principal activity which is described in the directors' report and which is continuing.
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| Turnover | | | | | | | | | |
| Turnover represents rental income on investment properties, excluding value added tax. | |
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| Financial assets |
| Investment properties are carried at fair value, and are not depreciated, in accordance with FRS 102 section 1A. | |
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| 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. Fixtures and fittings - 25% straight- line basis | |
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| Deferred Taxation | | | | | | | | |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. | |
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2. | Employees | | | |
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| The average number of persons employed by the company (including directors) during the year was 2. |
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3. | Tangible fixed assets | | | | | | | | | |
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Total |
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| Cost | | | | | | | | | | |
| At start of period | | 260,964 | |
| Additions | | | 325,279 | |
| At end of period | | 586,243 | |
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| Depreciation | | | | | | | | | | |
| At start of period | | 352 | |
| Provided during the period | | 529 | |
| At end of period | | 881 | |
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| Net Book Value | | | | | | | | | |
| At start of period | | 260,612 | |
| At end of period | | 585,362 | |
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| The investments properties were valued at 31 March 2023 by the directors of the company. |
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4. | Related Party Transactions | | | | | | | | |
| The directors have provided a joint loan to the company. The balance due to the directors at the end of the year was £859 ( 2022 : £223 ). No interest has been charged on this loan. A company with one common director and common shareholders has provided an unsecured loan to the company. No interest is being charged on this loan. The balance outstanding at balance sheet date was £588,086. There are no formal terms for repayment of this loan, which is included within Creditors : Amounts falling due within one year | |
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