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REGISTERED NUMBER: 01544655 (England and Wales)














L. G. M. LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2024






L. G. M. LIMITED (REGISTERED NUMBER: 01544655)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


L. G. M. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST JANUARY 2024







DIRECTORS: R J Markall
Mrs S L Scott





SECRETARY: Mrs S L Scott





REGISTERED OFFICE: Coppice Trading Estate
Kidderminster
Worcestershire
DY11 7QY





REGISTERED NUMBER: 01544655 (England and Wales)

L. G. M. LIMITED (REGISTERED NUMBER: 01544655)

BALANCE SHEET
31ST JANUARY 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 59,009 61,200
Investments 5 177,033 164,215
236,042 225,415

CURRENT ASSETS
Stocks 301,773 119,904
Debtors 6 662,945 795,050
Cash at bank and in hand 492 751
965,210 915,705
CREDITORS
Amounts falling due within one year 7 393,561 290,316
NET CURRENT ASSETS 571,649 625,389
TOTAL ASSETS LESS CURRENT
LIABILITIES

807,691

850,804

CREDITORS
Amounts falling due after more than one
year

8

(54,604

)

(62,667

)

PROVISIONS FOR LIABILITIES 10 (31,374 ) (28,507 )
NET ASSETS 721,713 759,630

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings 720,713 758,630
SHAREHOLDERS' FUNDS 721,713 759,630

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2024 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. M. LIMITED (REGISTERED NUMBER: 01544655)

BALANCE SHEET - continued
31ST JANUARY 2024


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 27th June 2024 and were signed on its behalf by:





R J Markall - Director


L. G. M. LIMITED (REGISTERED NUMBER: 01544655)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST JANUARY 2024

1. STATUTORY INFORMATION

L. G. M. Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. These financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Preparation of consolidated financial statements
The financial statements contain information about L. G. M. Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

Financial instruments
Basic financial liabilities, including trade and other debtors, bank loans and loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Financial assets and liabilities are only offset in the balance sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the company intends to either settle on a net basis, or to realise the asset and settle the liability simultaneously.
Debt instruments that have no stated interest rate are classified as payable or receivable within one year are initially measured at an un-discounted amount of the cash or other consideration expected to be paid, net of impairment.

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.


L. G. M. LIMITED (REGISTERED NUMBER: 01544655)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

2. ACCOUNTING POLICIES - continued
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.

Operating leases
Rentals under operating leases are charged to the profit and loss account on a straight line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight line basis over the period until the date the rent is expected to be adjusted to the prevailing market rate.

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.

Investments
Investments held as fixed assets are recorded at fair value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1st February 2023 26,856 7,662 97,840 46,994 179,352
Additions - - 15,792 - 15,792
At 31st January 2024 26,856 7,662 113,632 46,994 195,144
DEPRECIATION
At 1st February 2023 14,246 6,929 50,410 46,567 118,152
Charge for year 1,892 72 15,806 213 17,983
At 31st January 2024 16,138 7,001 66,216 46,780 136,135
NET BOOK VALUE
At 31st January 2024 10,718 661 47,416 214 59,009
At 31st January 2023 12,610 733 47,430 427 61,200

The net book value of tangible fixed assets includes £ 33,429 (2023 - £ 44,041 ) in respect of assets held under hire purchase contracts.

L. G. M. LIMITED (REGISTERED NUMBER: 01544655)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2024 2023
£ £
Capital bonds 177,033 164,215

If the capital bonds had not been revalued to fair value the historic cost shown would have been £50,000 (2023 - £50,000).

6. DEBTORS
2024 2023
£ £
Amounts falling due within one year:
Trade debtors 371,218 499,461
VAT - 8,250
Prepayments 7,629 3,241
378,847 510,952

Amounts falling due after more than one year:
Amounts owed by group undertakings 284,098 284,098

Aggregate amounts 662,945 795,050

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 18,179 17,417
Hire purchase contracts (see note 9) 12,491 9,058
Trade creditors 228,946 186,237
Tax 5,758 34,063
Social security and other taxes 12,330 14,639
VAT 3,866 -
Other creditors 62,356 3,857
Accrued expenses 49,635 25,045
393,561 290,316

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans - 1-2 years 9,525 9,525
Bank loans - 2-5 years 5,900 15,437
Hire purchase contracts (see note 9) 39,179 37,705
54,604 62,667

L. G. M. LIMITED (REGISTERED NUMBER: 01544655)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST JANUARY 2024

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024 2023
£ £
Net obligations repayable:
Within one year 12,491 9,058
Between one and five years 39,179 37,705
51,670 46,763

10. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax 31,374 28,507

Deferred tax
£
Balance at 1st February 2023 28,507
Provided during year 2,867
Balance at 31st January 2024 31,374

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
1,000 Ordinary £1 1,000 1,000

12. RELATED PARTY DISCLOSURES

Included within debtors due after more than one year is an amount of £284,098 (2023 - £284,098) due from the parent company, LGM Holdings Limited.

During the year dividends of £72,000 (2023 - £72,000) were paid to LGM Holdings Limited.