L G P (Developments) Limited 06205919 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is that of letting residential property. Digita Accounts Production Advanced 6.30.9574.0 true true 06205919 2023-05-01 2024-04-30 06205919 2024-04-30 06205919 bus:OrdinaryShareClass1 2024-04-30 06205919 core:CurrentFinancialInstruments 2024-04-30 06205919 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 06205919 core:Non-currentFinancialInstruments 2024-04-30 06205919 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 06205919 core:FurnitureFittingsToolsEquipment 2024-04-30 06205919 bus:SmallEntities 2023-05-01 2024-04-30 06205919 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 06205919 bus:FilletedAccounts 2023-05-01 2024-04-30 06205919 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 06205919 bus:RegisteredOffice 2023-05-01 2024-04-30 06205919 bus:Director1 2023-05-01 2024-04-30 06205919 bus:Director2 2023-05-01 2024-04-30 06205919 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 06205919 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 06205919 core:FurnitureFittings 2023-05-01 2024-04-30 06205919 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 06205919 countries:AllCountries 2023-05-01 2024-04-30 06205919 2023-04-30 06205919 core:FurnitureFittingsToolsEquipment 2023-04-30 06205919 2022-05-01 2023-04-30 06205919 2023-04-30 06205919 bus:OrdinaryShareClass1 2023-04-30 06205919 core:CurrentFinancialInstruments 2023-04-30 06205919 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 06205919 core:Non-currentFinancialInstruments 2023-04-30 06205919 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 06205919 core:FurnitureFittingsToolsEquipment 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06205919

L G P (Developments) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

L G P (Developments) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

L G P (Developments) Limited

Company Information

Directors

Mr G Hancock

Mr L Botta

Registered office

Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

Accountants

Ross & Partners (Bristol) Limited
Accountants and Tax Consultants
Unit 1, Office 1
Tower Lane Business Park
Tower Lane
Warmley
Bristol
BS30 8XT

 

L G P (Developments) Limited

(Registration number: 06205919)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

32

43

Investment property

4

1,000,000

1,000,000

 

1,000,032

1,000,043

Current assets

 

Debtors

5

30,611

27,545

Cash at bank and in hand

 

8,697

20,933

 

39,308

48,478

Creditors: Amounts falling due within one year

6

(18,429)

(15,877)

Net current assets

 

20,879

32,601

Total assets less current liabilities

 

1,020,911

1,032,644

Creditors: Amounts falling due after more than one year

6

(475,338)

(476,768)

Net assets

 

545,573

555,876

Capital and reserves

 

Called up share capital

7

3

3

Other reserves

483,827

483,827

Retained earnings

61,743

72,046

Shareholders' funds

 

545,573

555,876

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

L G P (Developments) Limited

(Registration number: 06205919)
Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 31 January 2025 and signed on its behalf by:
 

.........................................
Mr G Hancock
Director

 

L G P (Developments) Limited

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

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixture and fittings

25% reducing balance

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

 

L G P (Developments) Limited

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

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

L G P (Developments) Limited

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

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

3,407

3,407

At 30 April 2024

3,407

3,407

Depreciation

At 1 May 2023

3,364

3,364

Charge for the year

11

11

At 30 April 2024

3,375

3,375

Carrying amount

At 30 April 2024

32

32

At 30 April 2023

43

43

4

Investment properties

2024
£

At 1 May

1,000,000

At 30 April

1,000,000

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2024
£

2023
£

Other debtors

30,611

27,545

 

30,611

27,545

 

L G P (Developments) Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

16,219

14,857

Accruals and deferred income

 

1,056

1,020

Other creditors

 

1,154

-

 

18,429

15,877

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

475,338

476,768

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

3

3

3

3

       

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

475,338

476,768

Current loans and borrowings

2024
£

2023
£

Bank borrowings

16,219

14,857