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REGISTERED NUMBER: 12358366 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

L G Retail Group Ltd

L G Retail Group Ltd (Registered number: 12358366)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L G Retail Group Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: G Jarvis
Ms L M Nicholson





REGISTERED OFFICE: Bank House Barn
Wharncliffe Side
Sheffiled
South Yorkshire
S35 0DA





REGISTERED NUMBER: 12358366 (England and Wales)





ACCOUNTANT: L Green & Co
Chartered Certified Accountants
Unit 6 Jupiter Business Park
353 Bentley Road
Bentley
Doncaster
South Yorkshire
DN5 9TJ

L G Retail Group Ltd (Registered number: 12358366)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 282 -

CURRENT ASSETS
Stocks 20,000 -
Debtors 5 17,827 40,113
Cash at bank and in hand 1,683 11,556
39,510 51,669
CREDITORS
Amounts falling due within one year 6 36,897 27,221
NET CURRENT ASSETS 2,613 24,448
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,895

24,448

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,795 24,348
2,895 24,448

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 Retail Group Ltd (Registered number: 12358366)

Balance Sheet - continued
31 December 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 September 2024 and were signed on its behalf by:




Ms L M Nicholson - Director



G Jarvis - Director


L G Retail Group Ltd (Registered number: 12358366)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

L G Retail Group 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.

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 year 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 balance sheet date.

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

L G Retail Group Ltd (Registered number: 12358366)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

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 year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 300
At 31 December 2023 300
DEPRECIATION
Charge for year 18
At 31 December 2023 18
NET BOOK VALUE
At 31 December 2023 282

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 17,304 40,113
Other debtors 523 -
17,827 40,113

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 1,428 -
Trade creditors 16,286 10,719
Taxation and social security 18,185 10,883
Other creditors 998 5,619
36,897 27,221

L G Retail Group Ltd (Registered number: 12358366)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

31.12.23 31.12.22
£    £   
Ms L M Nicholson and Ms L M Nicholson
Balance outstanding at start of year (4,260 ) (260 )
Amounts advanced 11,333 13,500
Amounts repaid (6,550 ) (17,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 523 (4,260 )

8. ULTIMATE CONTROLLING PARTY

The controlling party is G Jarvis.