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Registered number: 12275492

LGL TECHNICAL SERVICES

ACCOUNTS
FOR THE YEAR ENDED 31/10/2023

Prepared By:
Victor Stewart
The White House
164 Bridge Road
Sarisbury Green, Southampton
Hampshire
SO31 7EH

LGL TECHNICAL SERVICES

ACCOUNTS
FOR THE YEAR ENDED 31/10/2023
DIRECTORS
LOUIS LOIZOU
REGISTERED OFFICE
164 BRIDGE ROAD
SOUTHAMPTON
HAMPSHIRE
SO31 7EH
COMPANY DETAILS
Private company limited by shares registered in EW - England and Wales, registered number 12275492
ACCOUNTANTS
Victor Stewart
The White House
164 Bridge Road
Sarisbury Green, Southampton
Hampshire
SO31 7EH

LGL TECHNICAL SERVICES

ACCOUNTS
FOR THEYEARENDED31/10/2023
CONTENTS
Page
Directors' Report-
Statement Of Comprehensive Income-
Balance Sheet3
Notes To The Accounts4
The following do not form part of the statutory financial statements:
Trading And Profit And Loss Account-
Profit And Loss Account Summaries-

LGL TECHNICAL SERVICES

BALANCE SHEET AT 31/10/2023
20232022
Notes££
FIXED ASSETS
Tangible assets31,7201,915
CURRENT ASSETS
Stock9751,150
Debtors53,7347,015
Cash at bank and in hand34,58935,619
39,29843,784
CREDITORS: Amounts falling due within one year615,96519,477
NET CURRENT ASSETS23,33324,307
TOTAL ASSETS LESS CURRENT LIABILITIES25,05326,222
CREDITORS: Amounts falling due after more than one year730,24726,196
NET (LIABILITIES) / ASSETS(5,194)26
CAPITAL AND RESERVES
Called up share capital811
Profit and loss account(5,195)25
SHAREHOLDERS' FUNDS(5,194)26
For the year ending 31/10/2023 the company was entitled to exemption 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 directors have decided not to deliver to the registrar a copy of the company's profit and loss account.
Approved by the board on 18/09/2024 and signed on their behalf by
.............................
LOUIS LOIZOU
Director

LGL TECHNICAL SERVICES

NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31/10/2023
1. ACCOUNTING POLICIES
1a. Basis Of Accounting
The accounts have been prepared under the historical cost convention.
The accounts have been prepared in accordance with FRS102 section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006 .
1b. Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Fixtures and Fittingsreducing balance 20%
Equipmentreducing balance 20%
1c. Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.
2. EMPLOYEES
20232022
No.No.
Average number of employees11

LGL TECHNICAL SERVICES

3. TANGIBLE FIXED ASSETS
Fixtures
and FittingsEquipmentTotal
£££
Cost
At 01/11/20222003,5413,741
Additions-250250
At 31/10/20232003,7913,991
Depreciation
At 01/11/2022981,7281,826
For the year32413445
At 31/10/20231302,1412,271
Net Book Amounts
At 31/10/2023701,6501,720
At 31/10/20221021,8131,915
4. STOCK 20232022
££
Stock comprises:
Stock9751,150
9751,150
5. DEBTORS 20232022
££
Amounts falling due within one year
Trade debtors2,7346,015
Other debtors1,0001,000
3,7347,015
6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
20232022
££
Corporation tax-5
VAT8021,753
Directors current account13,78010,241
Bank Loan1,3006,795
Accruals83683
15,96519,477

LGL TECHNICAL SERVICES

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
20232022
££
Bank loans (unsecured) >1yr30,24726,196
30,24726,196
8. SHARE CAPITAL 20232022
££
Allotted, issued and fully paid:
1 Ordinary shares of £1 each11
11