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Registered number: 06486040
l & g Installations Ltd
Unaudited Financial Statements
For The Year Ended 31 March 2024
BUTT & CO ACCOUNTANTS LTD
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06486040
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 19,096 870
19,096 870
CURRENT ASSETS
Debtors 5 8,308 6,349
Cash at bank and in hand 15,881 5,884
24,189 12,233
Creditors: Amounts Falling Due Within One Year 6 (40,435 ) (25,139 )
NET CURRENT ASSETS (LIABILITIES) (16,246 ) (12,906 )
TOTAL ASSETS LESS CURRENT LIABILITIES 2,850 (12,036 )
Creditors: Amounts Falling Due After More Than One Year 7 (10,140 ) -
NET LIABILITIES (7,290 ) (12,036 )
CAPITAL AND RESERVES
Called up share capital 9 200 200
Profit and Loss Account (7,490 ) (12,236 )
SHAREHOLDERS' FUNDS (7,290) (12,036)
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr ELTON KOLA
Director
14/11/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
l & g Installations Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06486040 . The registered office is 34 Stratton Drive, Barking, Essex, IG11 9HJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% reducing balance
Motor Vehicles 20% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 April 2023 8,602 - 8,602
Additions - 23,000 23,000
As at 31 March 2024 8,602 23,000 31,602
Depreciation
As at 1 April 2023 7,732 - 7,732
Provided during the period 174 4,600 4,774
As at 31 March 2024 7,906 4,600 12,506
...CONTINUED
Page 3
Page 4
Net Book Value
As at 31 March 2024 696 18,400 19,096
As at 1 April 2023 870 - 870
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 1,623 2,353
Prepayments and accrued income 4,280 3,550
VAT 2,405 -
Other taxes and social security - 446
8,308 6,349
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 6,060 -
Corporation tax 1,548 3,548
Other taxes and social security 886 -
Accruals and deferred income 31,941 21,591
40,435 25,139
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 10,140 -
8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 6,060 -
Later than one year and not later than five years 10,140 -
16,200 -
16,200 -
Page 4
Page 5
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 200 200
Page 5