Acorah Software Products - Accounts Production 15.0.600 false true false 15 March 2023 31 March 2024 31 March 2024 14733007 G Clayton iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 14733007 2023-03-14 14733007 2024-03-31 14733007 2023-03-15 2024-03-31 14733007 frs-core:CurrentFinancialInstruments 2024-03-31 14733007 frs-core:Non-currentFinancialInstruments 2024-03-31 14733007 frs-core:ComputerEquipment 2024-03-31 14733007 frs-core:ComputerEquipment 2023-03-15 2024-03-31 14733007 frs-core:ComputerEquipment 2023-03-14 14733007 frs-core:MotorVehicles 2024-03-31 14733007 frs-core:MotorVehicles 2023-03-15 2024-03-31 14733007 frs-core:MotorVehicles 2023-03-14 14733007 frs-core:PlantMachinery 2024-03-31 14733007 frs-core:PlantMachinery 2023-03-15 2024-03-31 14733007 frs-core:PlantMachinery 2023-03-14 14733007 frs-core:ShareCapital 2024-03-31 14733007 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31 14733007 frs-bus:PrivateLimitedCompanyLtd 2023-03-15 2024-03-31 14733007 frs-bus:FilletedAccounts 2023-03-15 2024-03-31 14733007 frs-bus:SmallEntities 2023-03-15 2024-03-31 14733007 frs-bus:AuditExempt-NoAccountantsReport 2023-03-15 2024-03-31 14733007 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-15 2024-03-31 14733007 frs-bus:Director1 2023-03-15 2024-03-31 14733007 frs-countries:EnglandWales 2023-03-15 2024-03-31
Registered number: 14733007
LG Executives Limited
Unaudited Financial Statements
For the Period 15 March 2023 to 31 March 2024
The Boss Partnership
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 14733007
31 March 2024
Notes £ £
FIXED ASSETS
Tangible Assets 3 82,558
82,558
CURRENT ASSETS
Debtors 4 664
Cash at bank and in hand 22,279
22,943
Creditors: Amounts Falling Due Within One Year 5 (75,761 )
NET CURRENT ASSETS (LIABILITIES) (52,818 )
TOTAL ASSETS LESS CURRENT LIABILITIES 29,740
Creditors: Amounts Falling Due After More Than One Year 6 (20,748 )
NET ASSETS 8,992
CAPITAL AND RESERVES
Called up share capital 7 1
Profit and Loss Account 8,991
SHAREHOLDERS' FUNDS 8,992
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For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Profit and Loss Account.
On behalf of the board
G Clayton
Director
12/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Reducing Balance
Motor Vehicles 20% Reducing Balance
Computer Equipment 33% Straight Line
1.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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1.4. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 1
1
3. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 15 March 2023 189 56,104 700 56,993
Additions - 68,494 494 68,988
Disposals - (31,609 ) - (31,609 )
As at 31 March 2024 189 92,989 1,194 94,372
Depreciation
As at 15 March 2023 16 9,982 231 10,229
Provided during the period 35 7,478 394 7,907
Disposals - (6,322 ) - (6,322 )
As at 31 March 2024 51 11,138 625 11,814
Net Book Value
As at 31 March 2024 138 81,851 569 82,558
As at 15 March 2023 173 46,122 469 46,764
4. Debtors
31 March 2024
£
Due within one year
Prepayments and accrued income 664
664
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5. Creditors: Amounts Falling Due Within One Year
31 March 2024
£
Bank loans and overdrafts 17,485
Other taxes and social security 492
Other creditors 2,734
Accruals and deferred income 756
Director's loan account 54,294
75,761
6. Creditors: Amounts Falling Due After More Than One Year
31 March 2024
£
Bank loans 20,748
20,748
7. Share Capital
31 March 2024
£
Allotted, Called up and fully paid 1
8. General Information
LG Executives Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14733007 . The registered office is No 1 Parkside Court, Greenhough Road, Lichfield, Staffordshire, WS13 7FE.
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