Company registration number 09267880 (England and Wales)
LG CONTRACTORS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
LG CONTRACTORS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
LG CONTRACTORS LIMITED (REGISTERED NUMBER: 09267880)
BALANCE SHEET
AS AT 31 OCTOBER 2023
31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
10,370
13,977
Current assets
Debtors
4
34,450
74,642
Cash at bank and in hand
34,840
40,452
69,290
115,094
Creditors: amounts falling due within one year
5
(15,954)
(26,070)
Net current assets
53,336
89,024
Net assets
63,706
103,001
Capital and reserves
Called up share capital
3
3
Profit and loss reserves
63,703
102,998
Total equity
63,706
103,001

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 29 July 2024 and are signed on its behalf by:
S L Gillam
Director
LG CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 2 -
1
Accounting policies
Company information

LG Contractors Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19/21 Swan Street, West Malling, United Kingdom, ME19 6JU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have confirmed their intention to continue to support the company, thus they have adopted the going concern basis of accounting in preparing the financial statements.true

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% on reducing balance
Computer equipment
33% on cost
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

1.6
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

LG CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 November 2022 and 31 October 2023
19,030
7,007
48,652
74,689
Depreciation and impairment
At 1 November 2022
15,746
6,855
38,111
60,712
Depreciation charged in the year
821
151
2,635
3,607
At 31 October 2023
16,567
7,006
40,746
64,319
Carrying amount
At 31 October 2023
2,463
1
7,906
10,370
At 31 October 2022
3,284
152
10,541
13,977
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
30,159
68,717
Other debtors
4,291
5,925
34,450
74,642
LG CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 4 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
9,939
19,203
Taxation and social security
3,037
3,749
Other creditors
2,978
3,118
15,954
26,070
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