I & G (Lodge Yard) Ltd 13662569 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is management and provision of maintenance services Digita Accounts Production Advanced 6.30.9574.0 true false true 13662569 2022-11-01 2023-10-31 13662569 2023-10-31 13662569 core:CurrentFinancialInstruments 2023-10-31 13662569 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 13662569 bus:SmallEntities 2022-11-01 2023-10-31 13662569 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 13662569 bus:FilletedAccounts 2022-11-01 2023-10-31 13662569 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 13662569 bus:RegisteredOffice 2022-11-01 2023-10-31 13662569 bus:Director1 2022-11-01 2023-10-31 13662569 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 13662569 1 2022-11-01 2023-10-31 13662569 countries:England 2022-11-01 2023-10-31 13662569 2021-10-05 2022-10-31 13662569 2022-10-31 13662569 core:CurrentFinancialInstruments 2022-10-31 13662569 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 iso4217:GBP xbrli:pure

Registration number: 13662569

I & G (Lodge Yard) Ltd

Unaudited Financial Statements

for the Year Ended 31 October 2023

 

I & G (Lodge Yard) Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

I & G (Lodge Yard) Ltd

(Registration number: 13662569)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Current assets

 

Debtors

4

5,299

4,812

Cash at bank and in hand

 

15,327

6,953

 

20,626

11,765

Creditors: Amounts falling due within one year

5

(1,863)

(3,377)

Total assets less current liabilities

 

18,763

8,388

Provisions for liabilities

(14,042)

(5,949)

Net assets

 

4,721

2,439

Capital and reserves

 

Called up share capital

2

2

Retained earnings

4,719

2,437

Shareholders' funds

 

4,721

2,439

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 August 2024 and signed on its behalf by:
 

.........................................
Ian Turner
Director

 

I & G (Lodge Yard) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 1, Lodge Yard Business Centre
Kingswood
Aylesbury
Buckinghamshire
HP18 0QJ
England

These financial statements were authorised for issue by the Board on 1 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

I & G (Lodge Yard) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

I & G (Lodge Yard) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Debtors

Current

2023
£

2022
£

Trade debtors

5,297

4,810

Other debtors

2

2

 

5,299

4,812

5

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

-

2,085

Taxation and social security

1,107

571

Accruals and deferred income

756

720

Other creditors

-

1

1,863

3,377

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

         

7

Parent and ultimate parent undertaking

The ultimate controlling party is Ian Turner and Geoffrey Clark as directors and shareholders acting in concert.

 

I & G (Lodge Yard) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

 

Provision for Service Charges

 

Note

2023
£

2022
£

Provision b/f

 

5,949

-

Service charges demanded

 

13,580

13,580

Service charges expenditure

 

(1,687)

(3,831)

Management costs for the year

 

(3,800)

(3,800)

 

14,042

5,949

 

Statement of Service Charge Expenditure

Note

2023
£

2022
£

Repairs and maintenance

 

1,146

1,746

Administration

 

541

2,085

 

1,687

3,831