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 SC411001 Mr Lee Lawson Mr L Lawson true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure SC411001 2022-12-31 SC411001 2023-12-31 SC411001 2023-01-01 2023-12-31 SC411001 frs-core:CurrentFinancialInstruments 2023-12-31 SC411001 frs-core:ComputerEquipment 2023-12-31 SC411001 frs-core:ComputerEquipment 2023-01-01 2023-12-31 SC411001 frs-core:ComputerEquipment 2022-12-31 SC411001 frs-core:MotorVehicles 2023-12-31 SC411001 frs-core:MotorVehicles 2023-01-01 2023-12-31 SC411001 frs-core:MotorVehicles 2022-12-31 SC411001 frs-core:PlantMachinery 2023-12-31 SC411001 frs-core:PlantMachinery 2023-01-01 2023-12-31 SC411001 frs-core:PlantMachinery 2022-12-31 SC411001 frs-core:ShareCapital 2023-12-31 SC411001 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 SC411001 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 SC411001 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 SC411001 frs-bus:SmallEntities 2023-01-01 2023-12-31 SC411001 frs-bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 SC411001 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 SC411001 1 2023-01-01 2023-12-31 SC411001 frs-bus:Director1 2023-01-01 2023-12-31 SC411001 frs-bus:Director1 2022-12-31 SC411001 frs-bus:Director1 2023-12-31 SC411001 frs-countries:Scotland 2023-01-01 2023-12-31 SC411001 2021-12-31 SC411001 2022-12-31 SC411001 2022-01-01 2022-12-31 SC411001 frs-core:CurrentFinancialInstruments 2022-12-31 SC411001 frs-core:ShareCapital 2022-12-31 SC411001 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: SC411001
LDL Gas Ltd
Financial Statements
For The Year Ended 31 December 2023
Gillespie's Fife
Financial Statements
Contents
Page
Accountants' Report 1
Balance Sheet 2—3
Notes to the Financial Statements 4—6
Page 1
Accountants' Report
Chartered Accountants' report to the director on the preparation of the unaudited statutory accounts of LDL Gas Ltd for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of LDL Gas Ltd for the year ended 31 December 2023 which comprise the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given to us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com/en/membership/regulations-standards-and-guidance.
This report is made solely to the director of LDL Gas Ltd , as a body, in accordance with the terms of our engagement letter dated 22 March 2021. Our work has been undertaken solely to prepare for your approval the accounts of LDL Gas Ltd and state those matters that we have agreed to state to the director of LDL Gas Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LDL Gas Ltd and its director, as a body, for our work or for this report.
It is your duty to ensure that LDL Gas Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of LDL Gas Ltd . You consider that LDL Gas Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit of the accounts of LDL Gas Ltd . For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
23rd September 2024
Gillespie's Fife
Accountants
Fric Ajax Way
Methil
Leven
KY8 3RS
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Page 2
Balance Sheet
Registered number: SC411001
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 35,844 44,805
35,844 44,805
CURRENT ASSETS
Debtors 5 124,285 131,816
Cash at bank and in hand 37,196 46,299
161,481 178,115
Creditors: Amounts Falling Due Within One Year 6 (34,184 ) (39,810 )
NET CURRENT ASSETS (LIABILITIES) 127,297 138,305
TOTAL ASSETS LESS CURRENT LIABILITIES 163,141 183,110
PROVISIONS FOR LIABILITIES
Deferred Taxation (6,810 ) (8,513 )
NET ASSETS 156,331 174,597
CAPITAL AND RESERVES
Called up share capital 7 1 1
Profit and Loss Account 156,330 174,596
SHAREHOLDERS' FUNDS 156,331 174,597
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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 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
Mr Lee Lawson
Director
23rd September 2024
The notes on pages 4 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
LDL Gas Ltd is a private company, limited by shares, incorporated in Scotland, registered number SC411001 . The registered office is 96 High Street, Burntisland, Fife, KY3 9AS.
2. Accounting Policies
2.1. 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.
2.2. 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.
2.3. 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% per annum reducing balance
Motor Vehicles 20% per annum reducing balance
Computer Equipment 20% per annum reducing balance
2.4. Taxation
Corporation 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.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
4 4
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 January 2023 2,400 68,601 2,444 73,445
As at 31 December 2023 2,400 68,601 2,444 73,445
Depreciation
As at 1 January 2023 2,194 24,573 1,873 28,640
Provided during the period 41 8,805 115 8,961
As at 31 December 2023 2,235 33,378 1,988 37,601
Net Book Value
As at 31 December 2023 165 35,223 456 35,844
As at 1 January 2023 206 44,028 571 44,805
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 32,663 40,350
Prepayments and accrued income 290 290
Other debtors 18,131 17,591
Other taxes and social security 204 -
Director's loan account 72,997 73,585
124,285 131,816
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 28,776 23,775
Corporation tax 162 -
VAT 2,461 13,260
Net wages 720 700
Accruals and deferred income 2,065 2,075
34,184 39,810
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
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8. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 January 2023 Amounts advanced Amounts repaid Amounts written off As at 31 December 2023
£ £ £ £ £
Mr Lee Lawson 73,585 27,650 28,238 - 72,997
The above loan is unsecured, interest free and repayable on demand.
9. Dividends
2023 2022
£ £
On equity shares:
Interim dividend paid 16,000 40,000
16,000 40,000
Final Dividends of £16,000 were declared on 29 February 2024.
10. Ultimate Controlling Party
The company's ultimate controlling party is Mr L Lawson by virtue of his ownership of 100% of the issued share capital in the company.
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