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REGISTERED NUMBER: 14101894 (England and Wales)













Report of the Directors and

Unaudited Financial Statements

for the Year Ended 31 May 2024

for

L&G Rail Ltd

L&G Rail Ltd (Registered number: 14101894)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Report of the Directors 2

Balance Sheet 3

Notes to the Financial Statements 5


L&G Rail Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTORS: S R George
S L George
C R Lovell
L Kay





REGISTERED OFFICE: Oak Tree House, Harwood Road
Northminster Business Park
Upper Poppleton
York
YO26 6QU





REGISTERED NUMBER: 14101894 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Oak Tree House, Harwood Road
Northminster Business Park
Upper Poppleton
York
YO26 6QU

L&G Rail Ltd (Registered number: 14101894)

Report of the Directors
for the Year Ended 31 May 2024

The directors present their report with the financial statements of the company for the year ended 31 May 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of silviculture and other forestry activities, logging and site preparation.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 June 2023 to the date of this report.

S R George
S L George
C R Lovell
L Kay

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





S R George - Director


8 August 2024

L&G Rail Ltd (Registered number: 14101894)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 482,382 263,649

CURRENT ASSETS
Debtors 5 143,803 132,588
Cash at bank 79,493 13,783
223,296 146,371
CREDITORS
Amounts falling due within one year 6 188,950 146,143
NET CURRENT ASSETS 34,346 228
TOTAL ASSETS LESS CURRENT
LIABILITIES

516,728

263,877

CREDITORS
Amounts falling due after more than one year 7 (363,485 ) (232,862 )

PROVISIONS FOR LIABILITIES 10 (92,260 ) -
NET ASSETS 60,983 31,015

CAPITAL AND RESERVES
Called up share capital 11 16 16
Retained earnings 60,967 30,999
SHAREHOLDERS' FUNDS 60,983 31,015

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

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

L&G Rail Ltd (Registered number: 14101894)

Balance Sheet - continued
31 May 2024


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 8 August 2024 and were signed on its behalf by:





S R George - Director


L&G Rail Ltd (Registered number: 14101894)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

L&G Rail 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income Recognition
Income is recognised when the conditions contained within a contract for services have been met.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

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 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 balance sheet date.


L&G Rail Ltd (Registered number: 14101894)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

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 year was 16 (2023 - 14 ) .

L&G Rail Ltd (Registered number: 14101894)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 June 2023 107,132 2,865 241,734 351,731
Additions 216,387 10,425 77,644 304,456
At 31 May 2024 323,519 13,290 319,378 656,187
DEPRECIATION
At 1 June 2023 26,783 865 60,434 88,082
Charge for year 34,903 2,239 48,581 85,723
At 31 May 2024 61,686 3,104 109,015 173,805
NET BOOK VALUE
At 31 May 2024 261,833 10,186 210,363 482,382
At 31 May 2023 80,349 2,000 181,300 263,649

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 June 2023 85,108 241,734 326,842
Additions 168,990 70,650 239,640
At 31 May 2024 254,098 312,384 566,482
DEPRECIATION
At 1 June 2023 21,277 60,434 81,711
Charge for year 22,811 47,561 70,372
At 31 May 2024 44,088 107,995 152,083
NET BOOK VALUE
At 31 May 2024 210,010 204,389 414,399
At 31 May 2023 63,831 181,300 245,131

L&G Rail Ltd (Registered number: 14101894)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 136,950 132,588
Other debtors 2,202 -
Directors' current accounts 901 -
Prepayments and accrued income 3,750 -
143,803 132,588

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 84,631 42,337
Trade creditors 9,302 -
Taxation and social security 70,022 54,297
Other creditors 511 30,191
Directors' current accounts 19,144 18,272
Accruals and deferred income 5,340 1,046
188,950 146,143

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 8) 363,485 232,862

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 84,631 42,337
Between one and five years 363,485 232,862
448,116 275,199

Non-cancellable operating leases
2024 2023
£    £   
Within one year 45,000 -
Between one and five years 37,500 -
82,500 -

L&G Rail Ltd (Registered number: 14101894)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 448,116 275,199

Hire purchase contracts are secured against the assets to which they relate.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 92,260 -

Deferred
tax
£   
Provided during year 92,260
Balance at 31 May 2024 92,260

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
4 Ordinary £1 4 4
4 A Ordinary £1 4 4
8 B Ordinary & C Ordinary £1 8 8
16 16

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the year ended 31 May 2024 and the period ended 31 May 2023:

2024 2023
£    £   
S L George
Balance outstanding at start of year - -
Amounts advanced 901 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 901 -

L&G Rail Ltd (Registered number: 14101894)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

13. RELATED PARTY DISCLOSURES

2024 2023
£ £
Amount due to the directors 19,144 18,272
No interest has been charged.