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REGISTERED NUMBER: 09409426 (England and Wales)















LAW UNIVERSAL GRINDING LTD

ABRIDGED FINANCIAL STATEMENTS FOR THE PERIOD 1 APRIL 2023 TO 31 JANUARY 2024






LAW UNIVERSAL GRINDING LTD (REGISTERED NUMBER: 09409426)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 31 JANUARY 2024










Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


LAW UNIVERSAL GRINDING LTD

COMPANY INFORMATION
FOR THE PERIOD 1 APRIL 2023 TO 31 JANUARY 2024







DIRECTOR: L A Wyzykiewicz





REGISTERED OFFICE: Henry Morgan House
Industry Road
Carlton
Barnsley
South Yorkshire
S71 3PQ





REGISTERED NUMBER: 09409426 (England and Wales)






LAW UNIVERSAL GRINDING LTD (REGISTERED NUMBER: 09409426)

ABRIDGED STATEMENT OF FINANCIAL POSITION
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 56,979 72,377

CURRENT ASSETS
Stocks 3,000 8,610
Debtors 56,412 88,666
Cash at bank and in hand 3,548 9,312
62,960 106,588
CREDITORS
Amounts falling due within one year 56,868 70,507
NET CURRENT ASSETS 6,092 36,081
TOTAL ASSETS LESS CURRENT
LIABILITIES

63,071

108,458

CREDITORS
Amounts falling due after more than one
year

5

(48,388

)

(65,596

)

PROVISIONS FOR LIABILITIES (6,406 ) (7,963 )
NET ASSETS 8,277 34,899

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 8,267 34,889
SHAREHOLDERS' FUNDS 8,277 34,899

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 January 2024 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.

LAW UNIVERSAL GRINDING LTD (REGISTERED NUMBER: 09409426)

ABRIDGED STATEMENT OF FINANCIAL POSITION - continued
31 JANUARY 2024


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

All the members have consented to the preparation of an abridged Statement of Financial Position for the period ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 6 August 2024 and were signed by:





L A Wyzykiewicz - Director


LAW UNIVERSAL GRINDING LTD (REGISTERED NUMBER: 09409426)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 APRIL 2023 TO 31 JANUARY 2024


1. STATUTORY INFORMATION

LAW Universal Grinding 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 50% on cost, 25% on reducing balance, 15% on reducing balance and not provided

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

LAW UNIVERSAL GRINDING LTD (REGISTERED NUMBER: 09409426)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 JANUARY 2024


2. ACCOUNTING POLICIES - continued

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 period was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 90,499
Additions 109
Disposals (351 )
At 31 January 2024 90,257
DEPRECIATION
At 1 April 2023 18,122
Charge for period 15,436
Eliminated on disposal (280 )
At 31 January 2024 33,278
NET BOOK VALUE
At 31 January 2024 56,979
At 31 March 2023 72,377

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 April 2023
and 31 January 2024 69,950
DEPRECIATION
At 1 April 2023 1,198
Charge for period 14,409
At 31 January 2024 15,607
NET BOOK VALUE
At 31 January 2024 54,343
At 31 March 2023 68,752

LAW UNIVERSAL GRINDING LTD (REGISTERED NUMBER: 09409426)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 APRIL 2023 TO 31 JANUARY 2024


5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2024 2023
£    £   
Repayable by instalments
Hire purchase - 2,099

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the periods ended 31 January 2024 and 31 March 2023:

2024 2023
£    £   
L A Wyzykiewicz
Balance outstanding at start of period 22,482 26,397
Amounts advanced 79,935 3,558
Amounts repaid (80,385 ) (7,473 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 22,032 22,482