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Company Registration No. 05171624 (England and Wales)
LA Commercials Ltd Unaudited accounts for the year ended 31 July 2024
LA Commercials Ltd Unaudited accounts Contents
Page
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LA Commercials Ltd Company Information for the year ended 31 July 2024
Director
Lee Gallimore
Company Number
05171624 (England and Wales)
Registered Office
12 Shop Lane Codsall Oaken Wolverhampton WV8 2AX
Accountants
Nellys Accountants Ltd 71 Woodland Avenue Tettenhall Wood Wolverhampton West Midlands WV6 8ND
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LA Commercials Ltd Statement of financial position as at 31 July 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
825 
11,058 
Current assets
Inventories
500 
1,175 
Debtors
33,825 
32,421 
Cash at bank and in hand
1,563 
2,581 
35,888 
36,177 
Creditors: amounts falling due within one year
(26,514)
(18,957)
Net current assets
9,374 
17,220 
Total assets less current liabilities
10,199 
28,278 
Creditors: amounts falling due after more than one year
(27,771)
(32,408)
Provisions for liabilities
Deferred tax
- 
(2,101)
Net liabilities
(17,572)
(6,231)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(17,672)
(6,331)
Shareholders' funds
(17,572)
(6,231)
For the year ending 31 July 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.
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 23 October 2024 and were signed on its behalf by
Lee Gallimore Director Company Registration No. 05171624
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LA Commercials Ltd Notes to the Accounts for the year ended 31 July 2024
1
Statutory information
LA Commercials Ltd is a private company, limited by shares, registered in England and Wales, registration number 05171624. The registered office is 12 Shop Lane, Codsall, Oaken, Wolverhampton, WV8 2AX.
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
Motor vehicles
15% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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LA Commercials Ltd Notes to the Accounts for the year ended 31 July 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 August 2023
17,891 
19,075 
12,064 
2,937 
51,967 
Disposals
- 
(19,075)
- 
- 
(19,075)
At 31 July 2024
17,891 
- 
12,064 
2,937 
32,892 
Depreciation
At 1 August 2023
17,522 
9,117 
11,444 
2,826 
40,909 
Charge for the year
92 
- 
155 
28 
275 
On disposals
- 
(9,117)
- 
- 
(9,117)
At 31 July 2024
17,614 
- 
11,599 
2,854 
32,067 
Net book value
At 31 July 2024
277 
- 
465 
83 
825 
At 31 July 2023
369 
9,958 
620 
111 
11,058 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
707 
9,591 
Other debtors
33,118 
22,830 
33,825 
32,421 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
14,101 
9,157 
VAT
3,252 
1,501 
Trade creditors
8,487 
7,314 
Taxes and social security
351 
425 
Other creditors
48 
300 
Accruals
275 
260 
26,514 
18,957 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
27,771 
32,408 
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LA Commercials Ltd Notes to the Accounts for the year ended 31 July 2024
8
Deferred taxation
2024 
2023 
£ 
£ 
Accelerated capital allowances
- 
2,101 
2024 
2023 
£ 
£ 
Provision at start of year
2,101 
2,505 
Credited to the profit and loss account
(2,101)
(404)
Provision at end of year
- 
2,101 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
50 Ordinary shares of £1 each
50 
50 
25 Ordinary A shares of £1 each
25 
25 
25 Ordinary B shares of £1 each
25 
25 
100 
100 
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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