Acorah Software Products - Accounts Production 15.0.600 false true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 08168768 Mr L Greatrex Mr N J Bennett Mr L Greatrex iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08168768 2022-12-31 08168768 2023-12-31 08168768 2023-01-01 2023-12-31 08168768 frs-core:CurrentFinancialInstruments 2023-12-31 08168768 frs-core:Non-currentFinancialInstruments 2023-12-31 08168768 frs-core:BetweenOneFiveYears 2023-12-31 08168768 frs-core:ComputerEquipment 2023-12-31 08168768 frs-core:ComputerEquipment 2023-01-01 2023-12-31 08168768 frs-core:ComputerEquipment 2022-12-31 08168768 frs-core:MotorVehicles 2023-12-31 08168768 frs-core:MotorVehicles 2023-01-01 2023-12-31 08168768 frs-core:MotorVehicles 2022-12-31 08168768 frs-core:WithinOneYear 2023-12-31 08168768 frs-core:ShareCapital 2023-12-31 08168768 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 08168768 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08168768 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 08168768 frs-bus:SmallEntities 2023-01-01 2023-12-31 08168768 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08168768 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08168768 frs-bus:Director1 2023-01-01 2023-12-31 08168768 frs-bus:Director2 2023-01-01 2023-12-31 08168768 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 08168768 frs-countries:EnglandWales 2023-01-01 2023-12-31 08168768 2021-12-31 08168768 2022-12-31 08168768 2022-01-01 2022-12-31 08168768 frs-core:CurrentFinancialInstruments 2022-12-31 08168768 frs-core:Non-currentFinancialInstruments 2022-12-31 08168768 frs-core:BetweenOneFiveYears 2022-12-31 08168768 frs-core:WithinOneYear 2022-12-31 08168768 frs-core:ShareCapital 2022-12-31 08168768 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 08168768
LGX ROOFING & CONSTRUCTION LTD
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—5
Page 1
Statement of Financial Position
Registered number: 08168768
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 16,850 22,676
16,850 22,676
CURRENT ASSETS
Stocks 5 20,452 125,979
Debtors 6 136,027 69,672
Cash at bank and in hand 354,959 426,534
511,438 622,185
Creditors: Amounts Falling Due Within One Year 7 (140,534 ) (252,900 )
NET CURRENT ASSETS (LIABILITIES) 370,904 369,285
TOTAL ASSETS LESS CURRENT LIABILITIES 387,754 391,961
Creditors: Amounts Falling Due After More Than One Year 8 (7,534 ) (11,464 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,200 ) (4,400 )
NET ASSETS 377,020 376,097
CAPITAL AND RESERVES
Called up share capital 10 200 200
Income Statement 376,820 375,897
SHAREHOLDERS' FUNDS 377,020 376,097
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Page 2
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mr N J Bennett
Director
23/08/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
LGX ROOFING & CONSTRUCTION LTD is a private company, limited by shares, incorporated in England & Wales, registered number 08168768 . The registered office is Building 53a Bay15 Third Avenue, Pensnett Trading Estate, Kingswinford, West Midlands, DY6 7XQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical costs convention as modified by the revaluation of certain assets.
2.2. Turnover
Turnover is the total amount receivable by the Company in the ordinary course of business for work executed and services provided, excluding VAT.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 25% reducing balance
Computer Equipment 33.3% straight line
2.4. Leasing and Hire Purchase Contracts
Where assets are financed by leasing or hire purchase agreements which give risks and rewards approximating to ownership they are treated as if they had been purchased outright on credit. They are therefore initially recorded as a fixed asset and a liability, at a sum equal to the fair value of the asset. Payments on such assets are regarded as consisting of a capital element which reduces the outstanding liability and an interest element which is charged to the profit and loss account.
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.6. Taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2022: 7)
8 7
4. Tangible Assets
Motor Vehicles Computer Equipment Total
£ £ £
Cost
As at 1 January 2023 40,747 1,242 41,989
As at 31 December 2023 40,747 1,242 41,989
Depreciation
As at 1 January 2023 18,443 870 19,313
Provided during the period 5,576 250 5,826
As at 31 December 2023 24,019 1,120 25,139
...CONTINUED
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Net Book Value
As at 31 December 2023 16,728 122 16,850
As at 1 January 2023 22,304 372 22,676
5. Stocks
2023 2022
£ £
Work in progress 20,452 125,979
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 97,272 4,701
Other debtors 38,755 64,971
136,027 69,672
7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 3,930 6,297
Trade creditors 41,139 133,540
Other creditors 12,234 15,842
Taxation and social security 83,231 97,221
140,534 252,900
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 7,534 11,464
Hire purchase accounts amounting to £11,464 are secured by a charge on a motor vehicle with a net book value of £12,609.
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 3,930 6,297
Later than one year and not later than five years 7,534 11,464
11,464 17,761
11,464 17,761
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 200 200
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11. Related Party Transactions
Mr L Greatrex and Mr N J Bennett are directors of the Company and each own 27% of the share capital.

Mr L Greatrex and Mr N J Bennett are directors of the Company and each own 27% of the share capital.

Mr L Greatrex and Mr N J Bennett both have a directors loan with the Company. At 31st December 2023, Mr L Greatrex was owed £1,147 and Mr N Bennett was owed £1,080. No interest has been charged in respect of these loans.
Page 5