Registered number
10024064
L&J GBS Ltd
Filleted Accounts
29 February 2024
L&J GBS Ltd
Registered number: 10024064
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 7,192 9,589
Current assets
Debtors 4 24,744 29,875
Cash at bank and in hand 4,387 5,107
29,131 34,982
Creditors: amounts falling due within one year 5 (361) (5,492)
Net current assets 28,770 29,490
Total assets less current liabilities 35,962 39,079
Creditors: amounts falling due after more than one year 6 (18,542) (18,542)
Net assets 17,420 20,537
Capital and reserves
Called up share capital 1 1
Profit and loss account 17,419 20,536
Shareholders' funds 17,420 20,537
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Lukasz Dawid Kurek
Director
Approved by the board on 18 September 2024
L&J GBS Ltd
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company - 2
3 Tangible fixed assets
Motor vehicles
£
Cost
At 1 March 2023 17,047
At 29 February 2024 17,047
Depreciation
At 1 March 2023 7,458
Charge for the year 2,397
At 29 February 2024 9,855
Net book value
At 29 February 2024 7,192
At 28 February 2023 9,589
4 Debtors 2024 2023
£ £
Trade debtors 1,967 1,967
CIS Recoverable 10,977 16,108
Other debtors 11,800 11,800
24,744 29,875
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 276 276
Corporation Tax - 4,046
PAYE & NI Payable - 1,085
Directors' Current Account 85 85
Subcontractors creditors - -
361 5,492
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 7,572 7,572
Obligations under finance lease and hire purchase contracts 10,970 10,970
18,542 18,542
7 Controlling party
Mr Lukasz Dawid Kurek
8 Other information
L&J GBS Ltd is a private company limited by shares and incorporated in England. Its registered office is:
28 Ground Floor Balfour Road
London
W13 9TN
L&J GBS Ltd 10024064 false 2023-03-01 2024-02-29 2024-02-29 VT Final Accounts April 2024 Lukasz Dawid Kurek No description of principal activity 10024064 2022-03-01 2023-02-28 10024064 core:WithinOneYear 2023-02-28 10024064 core:AfterOneYear 2023-02-28 10024064 core:ShareCapital 2023-02-28 10024064 core:RetainedEarningsAccumulatedLosses 2023-02-28 10024064 2023-03-01 2024-02-29 10024064 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 10024064 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 10024064 bus:Director40 2023-03-01 2024-02-29 10024064 1 2023-03-01 2024-02-29 10024064 2 2023-03-01 2024-02-29 10024064 core:Vehicles 2023-03-01 2024-02-29 10024064 countries:England 2023-03-01 2024-02-29 10024064 bus:FRS102 2023-03-01 2024-02-29 10024064 bus:FilletedAccounts 2023-03-01 2024-02-29 10024064 2024-02-29 10024064 core:WithinOneYear 2024-02-29 10024064 core:AfterOneYear 2024-02-29 10024064 core:ShareCapital 2024-02-29 10024064 core:RetainedEarningsAccumulatedLosses 2024-02-29 10024064 core:Vehicles 2024-02-29 10024064 2023-02-28 10024064 core:Vehicles 2023-02-28 iso4217:GBP xbrli:pure