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REGISTERED NUMBER: 09686059 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

MICHAEL LEGG LTD

MICHAEL LEGG LTD (REGISTERED NUMBER: 09686059)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


MICHAEL LEGG LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTOR: Mr M W Legg





REGISTERED OFFICE: 66 Huggetts Lane
Eastbourne
East Sussex
BN22 0LU





REGISTERED NUMBER: 09686059 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

MICHAEL LEGG LTD (REGISTERED NUMBER: 09686059)

STATEMENT OF FINANCIAL POSITION
31 JULY 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,839 12,602

CURRENT ASSETS
Stocks 2,265 -
Debtors 5 9,928 16,307
Cash at bank 105,133 121,327
117,326 137,634
CREDITORS
Amounts falling due within one year 6 89,630 101,349
NET CURRENT ASSETS 27,696 36,285
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,535

48,887

CREDITORS
Amounts falling due after more than one
year

7

-

(751

)

PROVISIONS FOR LIABILITIES 8 (2,710 ) (3,151 )
NET ASSETS 35,825 44,985

CAPITAL AND RESERVES
Called up share capital 9 1 1
Retained earnings 35,824 44,984
SHAREHOLDERS' FUNDS 35,825 44,985

MICHAEL LEGG LTD (REGISTERED NUMBER: 09686059)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 7 February 2025 and were signed by:





Mr M W Legg - Director


MICHAEL LEGG LTD (REGISTERED NUMBER: 09686059)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Michael Legg 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.

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.
Plant and machinery - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

STOCKS
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

MICHAEL LEGG LTD (REGISTERED NUMBER: 09686059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1 August 2023 1,760 21,195 1,501 24,456
Additions 993 - - 993
At 31 July 2024 2,753 21,195 1,501 25,449
Depreciation
At 1 August 2023 1,049 9,924 881 11,854
Charge for year 211 2,254 291 2,756
At 31 July 2024 1,260 12,178 1,172 14,610
Net book value
At 31 July 2024 1,493 9,017 329 10,839
At 31 July 2023 711 11,271 620 12,602

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 435 -
Other debtors 9,493 16,307
9,928 16,307

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts 751 4,507
Trade creditors 1,193 994
Taxation and social security 8,230 10,584
Other creditors 79,456 85,264
89,630 101,349

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.24 31.7.23
£    £   
Hire purchase contracts - 751

MICHAEL LEGG LTD (REGISTERED NUMBER: 09686059)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


8. PROVISIONS FOR LIABILITIES
31.7.24 31.7.23
£    £   
Deferred tax 2,710 3,151

Deferred
tax
£   
Balance at 1 August 2023 3,151
Provided during year (441 )
Balance at 31 July 2024 2,710

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
1 Ordinary shares £1 1 1