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REGISTERED NUMBER: 07884082 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 December 2024

for

L R FINANCE (NORTH WEST) LIMITED

L R FINANCE (NORTH WEST) LIMITED (REGISTERED NUMBER: 07884082)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


L R FINANCE (NORTH WEST) LIMITED

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2024







Director: Mrs E Hill





Registered office: 30 Hallgate
Wigan
Lancashire
WN1 1LR





Registered number: 07884082 (England and Wales)





Accountants: NRB
1st Floor Waterside House
Waterside Drive
Wigan
Lancashire
WN3 5AZ

L R FINANCE (NORTH WEST) LIMITED (REGISTERED NUMBER: 07884082)

Balance Sheet
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 2,135 1,303
2,135 1,303

CURRENT ASSETS
Debtors 6 124,806 56,388
Cash at bank and in hand 95,345 62,633
220,151 119,021
CREDITORS
Amounts falling due within one year 7 64,077 49,258
NET CURRENT ASSETS 156,074 69,763
TOTAL ASSETS LESS CURRENT
LIABILITIES

158,209

71,066

CREDITORS
Amounts falling due after more than one
year

8

(70,000

)

(6,685

)

PROVISIONS FOR LIABILITIES 9 (293 ) (247 )
NET ASSETS 87,916 64,134

CAPITAL AND RESERVES
Called up share capital 10 100 2
Retained earnings 87,816 64,132
SHAREHOLDERS' FUNDS 87,916 64,134

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

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

The director acknowledges her 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 5 March 2025 and were signed by:




Mrs E Hill - Director


L R FINANCE (NORTH WEST) LIMITED (REGISTERED NUMBER: 07884082)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

L R Finance (North West) 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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 20% on cost
Fixtures and fittings - 20% on cost

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.

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 8 (2023 - 9 ) .

L R FINANCE (NORTH WEST) LIMITED (REGISTERED NUMBER: 07884082)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 255,000
AMORTISATION
At 1 January 2024
and 31 December 2024 255,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 January 2024 8,884 50,621 59,505
Additions - 1,326 1,326
At 31 December 2024 8,884 51,947 60,831
DEPRECIATION
At 1 January 2024 8,884 49,318 58,202
Charge for year - 494 494
At 31 December 2024 8,884 49,812 58,696
NET BOOK VALUE
At 31 December 2024 - 2,135 2,135
At 31 December 2023 - 1,303 1,303

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Other debtors 124,806 56,388

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Bank loans and overdrafts 9,833 -
Taxation and social security 37,351 35,726
Other creditors 16,893 13,532
64,077 49,258

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Other creditors 70,000 6,685

L R FINANCE (NORTH WEST) LIMITED (REGISTERED NUMBER: 07884082)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

9. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax
Accelerated capital allowances 293 247

Deferred
tax
£   
Balance at 1 January 2024 247
Utilised during year 46
Balance at 31 December 2024 293

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
89 Ordinary £1 89 2
10 Ordinary A £1 10 -
1 Ordinary C £1 1 -
100 2

The following shares were issued during the year for cash at par :

87 Ordinary shares of £1
10 Ordinary A shares of £1
1 Ordinary C share of £1