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REGISTERED NUMBER: SC232502 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

LGRP DESIGN & BUILD LTD

LGRP DESIGN & BUILD LTD (REGISTERED NUMBER: SC232502)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 9

LGRP DESIGN & BUILD LTD

Company Information
for the Year Ended 31 October 2023







DIRECTOR: J C Gunning





REGISTERED OFFICE: 29 Brandon Street
Hamilton
South Lanarkshire
ML3 6DA





REGISTERED NUMBER: SC232502 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

LGRP DESIGN & BUILD LTD (REGISTERED NUMBER: SC232502)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 121,878 97,713
Investments 6 51 51
121,929 97,764

CURRENT ASSETS
Stocks 192,633 158,886
Debtors 7 137,855 68,507
Cash at bank and in hand 10,036 32,424
340,524 259,817
CREDITORS
Amounts falling due within one year 8 305,154 207,950
NET CURRENT ASSETS 35,370 51,867
TOTAL ASSETS LESS CURRENT
LIABILITIES

157,299

149,631

CREDITORS
Amounts falling due after more than one year 9 (80,580 ) (80,353 )

PROVISIONS FOR LIABILITIES (30,469 ) (18,566 )
NET ASSETS 46,250 50,712

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 45,250 49,712
46,250 50,712

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

LGRP DESIGN & BUILD LTD (REGISTERED NUMBER: SC232502)

Balance Sheet - continued
31 October 2023


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 director and authorised for issue on 31 October 2024 and were signed by:





J C Gunning - Director


LGRP DESIGN & BUILD LTD (REGISTERED NUMBER: SC232502)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

LGRP Design & Build Ltd is a private company, limited by shares , registered in Scotland. 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. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. There were no material departures from the standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about LGRP Design & Build Ltd 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc - 25% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.


LGRP DESIGN & BUILD LTD (REGISTERED NUMBER: SC232502)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

3. ACCOUNTING POLICIES - continued
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.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 3 ) .

LGRP DESIGN & BUILD LTD (REGISTERED NUMBER: SC232502)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 166,374
Additions 53,115
At 31 October 2023 219,489
DEPRECIATION
At 1 November 2022 68,661
Charge for year 28,950
At 31 October 2023 97,611
NET BOOK VALUE
At 31 October 2023 121,878
At 31 October 2022 97,713

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 November 2022 114,524
Additions 47,650
At 31 October 2023 162,174
DEPRECIATION
At 1 November 2022 36,452
Charge for year 21,110
At 31 October 2023 57,562
NET BOOK VALUE
At 31 October 2023 104,612
At 31 October 2022 78,072

LGRP DESIGN & BUILD LTD (REGISTERED NUMBER: SC232502)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 October 2023 51
NET BOOK VALUE
At 31 October 2023 51
At 31 October 2022 51

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 28,352 36,253
Other debtors 109,503 32,254
137,855 68,507

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 11,246 10,969
Hire purchase contracts 31,403 22,019
Trade creditors 22,006 23,899
Amounts owed to group undertakings 51,993 -
Taxation and social security 56,018 49,159
Other creditors 132,488 101,904
305,154 207,950

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 20,364 31,610
Hire purchase contracts 60,216 48,743
80,580 80,353

LGRP DESIGN & BUILD LTD (REGISTERED NUMBER: SC232502)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 31,610 42,579
Hire purchase contracts 91,619 70,762
123,229 113,341

The bank loan is 100% secured by the UK Government.

The hire purchase contracts are secured over the assets concerned.

11. RELATED PARTY DISCLOSURES

The company operates a current account with its director. During the year the company advanced monies to the director totalling £22,801. At the year end, the balance due from the director was £22,129 (2022 - £871 due to the company).The director has repaid £4,979 to 5 April 2024.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
LGRP Design & Build Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of LGRP Design & Build Ltd for the year ended 31 October 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of LGRP Design & Build Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of LGRP Design & Build Ltd and state those matters that we have agreed to state to the director of LGRP Design & Build Ltd in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that LGRP Design & Build Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of LGRP Design & Build Ltd. You consider that LGRP Design & Build Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of LGRP Design & Build 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 statutory financial statements.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


31 October 2024