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Company Registration No. 11183450 (England and Wales)
LG Brickwork/Drives Ltd Unaudited accounts for the year ended 29 February 2024
LG Brickwork/Drives Ltd Unaudited accounts Contents
Page
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LG Brickwork/Drives Ltd Company Information for the year ended 29 February 2024
Director
Mr Lewis Gibbons
Company Number
11183450 (England and Wales)
Registered Office
15 Bedloes Avenue Rawreth Wickford Essex SS11 8SX England
Accountants
JLM Accountancy 11 Crouch Meadow Hullbridge Essex SS5 6QF
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LG Brickwork/Drives Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
72,058 
59,189 
Current assets
Inventories
45,500 
24,500 
Debtors
23,509 
13,955 
Cash at bank and in hand
41,110 
23,013 
110,119 
61,468 
Creditors: amounts falling due within one year
(142,590)
(74,862)
Net current liabilities
(32,471)
(13,394)
Total assets less current liabilities
39,587 
45,795 
Creditors: amounts falling due after more than one year
(13,494)
(22,956)
Provisions for liabilities
Deferred tax
(11,413)
(8,468)
Net assets
14,680 
14,371 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
14,580 
14,271 
Shareholders' funds
14,680 
14,371 
For the year ending 29 February 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 November 2024 and were signed on its behalf by
Mr Lewis Gibbons Director Company Registration No. 11183450
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LG Brickwork/Drives Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
LG Brickwork/Drives Ltd is a private company, limited by shares, registered in England and Wales, registration number 11183450. The registered office is 15 Bedloes Avenue, Rawreth, Wickford, Essex, SS11 8SX, England.
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.
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
Reducing Balance - 10%
Motor vehicles
Straight line - 10%
Computer equipment
Reducing Balance - 33%
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.
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.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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LG Brickwork/Drives Ltd Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 March 2023
34,067 
54,287 
273 
88,627 
Additions
1,012 
19,739 
- 
20,751 
At 29 February 2024
35,079 
74,026 
273 
109,378 
Depreciation
At 1 March 2023
13,589 
15,645 
204 
29,438 
Charge for the year
2,064 
5,795 
23 
7,882 
At 29 February 2024
15,653 
21,440 
227 
37,320 
Net book value
At 29 February 2024
19,426 
52,586 
46 
72,058 
At 28 February 2023
20,478 
38,642 
69 
59,189 
5
Inventories
2024 
2023 
£ 
£ 
Raw materials
33,000 
14,500 
Work in progress
12,500 
10,000 
45,500 
24,500 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
21,935 
12,447 
Other debtors
1,139 
897 
23,074 
13,344 
Amounts falling due after more than one year
Accrued income and prepayments
435 
611 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
5,348 
8,727 
VAT
6,998 
3,165 
Obligations under finance leases and hire purchase contracts
6,376 
6,376 
Trade creditors
10,930 
848 
Taxes and social security
7,260 
3,266 
Other creditors
6,546 
- 
Loans from directors
97,332 
47,680 
Accruals
1,800 
4,800 
142,590 
74,862 
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LG Brickwork/Drives Ltd Notes to the Accounts for the year ended 29 February 2024
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
5,926 
10,766 
Obligations under finance leases and hire purchase contracts
7,568 
12,190 
13,494 
22,956 
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Average number of employees
During the year the average number of employees was 1 (2023: 1).
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