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Company Registration No. 11267965 (England and Wales)
Lancashire Valeting Group Limited Unaudited accounts for the year ended 31 January 2024
Lancashire Valeting Group Limited Unaudited accounts Contents
Page
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Lancashire Valeting Group Limited Company Information for the year ended 31 January 2024
Director
Adeel Ali
Company Number
11267965 (England and Wales)
Registered Office
UNIT 13 ADHAN TRADING ESTATE NEWTON STREET BLACKBURN LANCASHIRE BB1 1NE UNITED KINGDOM
Accountants
Xeinadin Group Regent House Folds Road Bolton BL1 2RZ
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Lancashire Valeting Group Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
3,967 
5,288 
Current assets
Inventories
407 
- 
Debtors
9,771 
- 
Cash at bank and in hand
342 
24 
10,520 
24 
Creditors: amounts falling due within one year
(3,357)
(1,542)
Net current assets/(liabilities)
7,163 
(1,518)
Total assets less current liabilities
11,130 
3,770 
Creditors: amounts falling due after more than one year
(46,803)
(47,379)
Net liabilities
(35,673)
(43,609)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(35,674)
(43,610)
Shareholders' funds
(35,673)
(43,609)
For the year ending 31 January 2024 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 April 2024 and were signed on its behalf by
Adeel Ali Director Company Registration No. 11267965
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Lancashire Valeting Group Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
Lancashire Valeting Group Limited is a private company, limited by shares, registered in England and Wales, registration number 11267965. The registered office is UNIT 13 ADHAN TRADING ESTATE, NEWTON STREET, BLACKBURN, LANCASHIRE, BB1 1NE, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance method
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Going concern
At the balance sheet date the company had net liabilities of £35,673 (2023 - £43,609), however, the accounts have been prepared on a going concern basis as the directors have indicated their continued support for the foreseeable future.
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Lancashire Valeting Group Limited Notes to the Accounts for the year ended 31 January 2024
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 February 2023
16,001 
At 31 January 2024
16,001 
Depreciation
At 1 February 2023
10,713 
Charge for the year
1,321 
At 31 January 2024
12,034 
Net book value
At 31 January 2024
3,967 
At 31 January 2023
5,288 
5
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1 
1 
6
Average number of employees
During the year the average number of employees was 3 (2023: 1).
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