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REGISTERED NUMBER: SC661180 (Scotland)
















Unaudited Financial Statements for the Year Ended 31 May 2024

for

LGO Quality & Inspection Ltd

LGO Quality & Inspection Ltd (Registered number: SC661180)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LGO Quality & Inspection Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: S T Carey





REGISTERED OFFICE: c/o McLay McAlister McGibbon
145 St. Vincent Street
Glasgow
G2 5JF





REGISTERED NUMBER: SC661180 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

LGO Quality & Inspection Ltd (Registered number: SC661180)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 285 380

CURRENT ASSETS
Debtors 5 1,034 864
Cash at bank 11,001 12,001
12,035 12,865
CREDITORS
Amounts falling due within one year 6 (66,710 ) (55,012 )
NET CURRENT LIABILITIES (54,675 ) (42,147 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(54,390

)

(41,767

)

CAPITAL AND RESERVES
Called up share capital 7 2 2
Retained earnings (54,392 ) (41,769 )
SHAREHOLDERS' FUNDS (54,390 ) (41,767 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 15 January 2025 and were signed by:





S T Carey - Director


LGO Quality & Inspection Ltd (Registered number: SC661180)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

LGO Quality & Inspection Ltd is a private company, limited by shares , registered in Scotland. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

Financial instruments
Debtors
Trade debtors and other debtors are recognised at the settlement amount due with appropriate allowances for any irrecoverable amounts when there is objective evidence the asset is impaired.

Cash and cash equivalents
Cash and cash equivalent in the balance sheet comprise cash in hand and bank overdrafts. In the balance sheet bank overdrafts are shown in creditors amounts falling due within one year.

Creditors
Trade creditors and other creditors are recognised where the company has a present obligation resulting from a past event and are recognised at the settlement amount due after allowing for any trade discounts due.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

LGO Quality & Inspection Ltd (Registered number: SC661180)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 899
DEPRECIATION
At 1 June 2023 519
Charge for year 95
At 31 May 2024 614
NET BOOK VALUE
At 31 May 2024 285
At 31 May 2023 380

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 1,034 864

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other creditors 66,710 55,012

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
2 Ordinary 1 2 2