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COMPANY REGISTRATION NUMBER: 04244894
LJG Electrical Services Staffs Limited
Filleted Unaudited Financial Statements
31 January 2024
LJG Electrical Services Staffs Limited
Statement of Financial Position
31 January 2024
31 Jan 24
31 Jul 22
Note
£
£
Fixed assets
Tangible assets
6
18,673
13,087
Current assets
Debtors
7
28,258
Cash at bank and in hand
19,735
----
--------
47,993
Creditors: amounts falling due within one year
8
6,821
47,618
-------
--------
Net current (liabilities)/assets
( 6,821)
375
--------
--------
Total assets less current liabilities
11,852
13,462
Creditors: amounts falling due after more than one year
9
5,173
Provisions
3,548
2,487
--------
--------
Net assets
8,304
5,802
--------
--------
Capital and reserves
Called up share capital
3
3
Profit and loss account
8,301
5,799
-------
-------
Member's funds
8,304
5,802
-------
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Director's responsibilities: - The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476; - The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
LJG Electrical Services Staffs Limited
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 27 October 2024 , and are signed on behalf of the board by:
L Gouyet
Director
Company registration number: 04244894
LJG Electrical Services Staffs Limited
Notes to the Financial Statements
Period from 1 August 2022 to 31 January 2024
1. Statutory information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Deansfield House, 98 Lancaster Road, Newcastle under Lyme, England, ST5 1DS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
(c) Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
(d) Finance leases and hire purchase contracts
Assets held under finance leases are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Tools and equipment
-
20% reducing balance
Motor vehicles
-
25% and 0% reducing balance
Computer equipment
-
3 years straight line
(g) Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
(h) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset.
(i) Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 1 (2022: 1 ).
5. Director's remuneration
The director's aggregate remuneration in respect of qualifying services was:
Period from
1 Aug 22 to
Year to
31 Jan 24
31 Jul 22
£
£
Remuneration
6,067
8,094
-------
-------
6. Tangible assets
Tools and equipment
Motor vehicles
Computer equipment
Total
£
£
£
£
Cost
At 1 August 2022
1,185
15,762
1,796
18,743
Additions
130
23,000
969
24,099
Disposals
( 15,525)
( 15,525)
-------
--------
-------
--------
At 31 January 2024
1,315
23,237
2,765
27,317
-------
--------
-------
--------
Depreciation
At 1 August 2022
924
4,031
701
5,656
Charge for the period
101
5,750
1,018
6,869
Disposals
( 3,881)
( 3,881)
-------
--------
-------
--------
At 31 January 2024
1,025
5,900
1,719
8,644
-------
--------
-------
--------
Carrying amount
At 31 January 2024
290
17,337
1,046
18,673
-------
--------
-------
--------
At 31 July 2022
261
11,731
1,095
13,087
-------
--------
-------
--------
7. Debtors
31 Jan 24
31 Jul 22
£
£
Trade debtors
27,501
Other debtors
757
----
--------
28,258
----
--------
8. Creditors: amounts falling due within one year
31 Jan 24
31 Jul 22
£
£
Trade creditors
24,999
Corporation tax
6,009
10,403
Social security and other taxes
533
4,165
Other creditors
279
8,051
-------
--------
6,821
47,618
-------
--------
The net obligation under the hire purchase contract, included in other creditors, is secured.
9. Creditors: amounts falling due after more than one year
31 Jan 24
31 Jul 22
£
£
Other creditors
5,173
----
-------
The net obligation under the hire purchase contract, included in other creditors, is secured.
10. Significant event during the reporting period
During the period, the company ceased trading. No provision has been made for any costs of reducing and/or ceasing trade unless such costs were committed to at the reporting date.
11. Related party transactions
L Gouyet is a related party by virtue of his directorship of and shareholding in the company. During the period, the company paid equity dividends on Ordinary shares to L Gouyet in the sum of £ 23,400 (2022: £ 21,000 ). At the period end, the company owed L Gouyet the sum of £ 245 (2022: £ 361 ).