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REGISTERED NUMBER: 08970588 (England and Wales)















Lace G Limited

Unaudited Financial Statements for the Year Ended 30 April 2024






Lace G Limited (Registered number: 08970588)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Lace G Limited

Company Information
for the Year Ended 30 April 2024







Directors: G Lace
S M Lace





Registered office: Craven House
32 Lee Lane
Horwich
Bolton
Greater Manchester
BL6 7BY





Registered number: 08970588 (England and Wales)





Accountants: Leach Briely
Craven House
32 Lee Lane
Horwich
Bolton
BL6 7BY

Lace G Limited (Registered number: 08970588)

Statement of Financial Position
30 April 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 21,974 29,264

Current assets
Stocks 47,000 45,000
Debtors 5 69,859 64,936
Cash at bank and in hand 63,141 99,853
180,000 209,789
Creditors
Amounts falling due within one year 6 105,361 129,194
Net current assets 74,639 80,595
Total assets less current liabilities 96,613 109,859

Creditors
Amounts falling due after more than
one year

7

(15,622

)

(22,842

)

Provisions for liabilities 8 (5,823 ) (7,755 )
Net assets 75,168 79,262

Capital and reserves
Called up share capital 9 100 100
Retained earnings 75,068 79,162
Shareholders' funds 75,168 79,262

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Lace G Limited (Registered number: 08970588)

Statement of Financial Position - continued
30 April 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 January 2025 and were signed on its behalf by:





G Lace - Director


Lace G Limited (Registered number: 08970588)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. Statutory information

Lace G Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

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

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.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible assets are initially recorded at cost and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Stocks
Stock is measured at estimated cost.

Financial instruments
The company only enters into basic financial instruments that result in the recognition of the financial assets and liabilities such as trade and other debtors and creditors. These are measured at amortised cost and assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the statement of income and retained earnings.

Taxation
The taxation expense represents the aggregate amount of current tax recognised in the reporting year . Tax is recognised in the statement of income and retained earnings. Current tax is recognised on taxable profit for the current year.

Current tax is measured at the amounts of tax expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the reporting date.


Lace G Limited (Registered number: 08970588)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 2 (2023 - 2 ) .

4. Tangible fixed assets
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Cost
At 1 May 2023
and 30 April 2024 750 73,839 74,589
Depreciation
At 1 May 2023 225 45,100 45,325
Charge for year 105 7,185 7,290
At 30 April 2024 330 52,285 52,615
Net book value
At 30 April 2024 420 21,554 21,974
At 30 April 2023 525 28,739 29,264

Lace G Limited (Registered number: 08970588)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 69,422 64,488
Other debtors 437 448
69,859 64,936

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loan 6,800 6,800
Trade creditors 19,363 28,491
Taxation and social security 13,927 21,768
Other creditors 65,271 72,135
105,361 129,194

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loan 15,622 22,842

8. Provisions for liabilities
2024 2023
£    £   
Deferred tax 5,823 7,755

Deferred
tax
£   
Balance at 1 May 2023 7,755
Credit to Statement of Income and Retained Earnings during year (1,932 )
Balance at 30 April 2024 5,823

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100