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REGISTERED NUMBER: 12070289 (England and Wales)











Financial Statements

for the Year Ended 30 June 2024

for

LG Consulting Ltd

LG Consulting Ltd (Registered number: 12070289)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


LG Consulting Ltd

Company Information
for the Year Ended 30 June 2024







DIRECTORS: Mrs L C Goudie
C T Goudie



REGISTERED OFFICE: Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ



REGISTERED NUMBER: 12070289 (England and Wales)



ACCOUNTANTS: Knights Lowe Ltd
Chartered Accountants
Crane Court
302 London Road
Ipswich
Suffolk
IP2 0AJ



BANKERS: HSBC
12 Tavern Street
Ipswich
Suffolk
IP13AZ

LG Consulting Ltd (Registered number: 12070289)

Statement of Financial Position
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,951 5,445

CURRENT ASSETS
Debtors 5 - 22,447
Cash at bank 45,509 62,318
45,509 84,765
CREDITORS
Amounts falling due within one year 6 25,800 29,447
NET CURRENT ASSETS 19,709 55,318
TOTAL ASSETS LESS CURRENT LIABILITIES 24,660 60,763

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 24,560 60,663
SHAREHOLDERS' FUNDS 24,660 60,763

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 24 January 2025 and were signed on its behalf by:




Mrs L C Goudie - Director


LG Consulting Ltd (Registered number: 12070289)

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

1. STATUTORY INFORMATION

LG Consulting Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 - 33% on cost
Computer equipment - 33% on cost

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and loans with related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables, are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. Debt instruments that are repayable or receivable after one year are initially measured at the present value of the future cash flows and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial year for evidence of impairment. If objective evidence of impairment is found an impairment loss is recognised in the Income Statement.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


LG Consulting Ltd (Registered number: 12070289)

Notes to the Financial Statements - continued
for the Year Ended 30 June 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.

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.

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 Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 4,132 1,682 5,814
DEPRECIATION
At 1 July 2023 37 332 369
Charge for year 44 450 494
At 30 June 2024 81 782 863
NET BOOK VALUE
At 30 June 2024 4,051 900 4,951
At 30 June 2023 4,095 1,350 5,445

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors - 22,447

LG Consulting Ltd (Registered number: 12070289)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 1,866
Taxation and social security 24,051 25,670
Other creditors 1,749 1,911
25,800 29,447

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
75 Ordinary A £1 75 75
25 Ordinary B £1 25 25
100 100