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REGISTERED NUMBER: 07327155 (England and Wales)















Financial Statements for the Year Ended 31 December 2024

for

L & G Utilities Ltd

L & G Utilities Ltd (Registered number: 07327155)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


L & G Utilities Ltd

Company Information
for the Year Ended 31 December 2024







DIRECTORS: L Thistlethwaite
Mrs G L Thistlethwaite





REGISTERED OFFICE: The Thistle
Durham Road
Chilton
Ferryhill
DL17 0FG





REGISTERED NUMBER: 07327155 (England and Wales)





ACCOUNTANTS: Flannagans - Hartlepool Office
Chartered Certified Accountants
7 Bankside
The Watermark
Gateshead
Tyne and Wear
NE11 9SY

L & G Utilities Ltd (Registered number: 07327155)

Abridged Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,980,993 2,054,127
Investments 5 2,000,000 2,000,000
3,980,993 4,054,127

CURRENT ASSETS
Debtors 86,940 220,854
Cash at bank and in hand 577,972 629,348
664,912 850,202
CREDITORS
Amounts falling due within one year 3,238,044 3,689,983
NET CURRENT LIABILITIES (2,573,132 ) (2,839,781 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,407,861

1,214,346

CREDITORS
Amounts falling due after more than one year - (7,176 )

PROVISIONS FOR LIABILITIES (57,000 ) (57,000 )
NET ASSETS 1,350,861 1,150,170

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 1,350,859 1,150,168
1,350,861 1,150,170

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 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.

L & G Utilities Ltd (Registered number: 07327155)

Abridged Balance Sheet - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 April 2025 and were signed on its behalf by:





L Thistlethwaite - Director


L & G Utilities Ltd (Registered number: 07327155)

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

1. STATUTORY INFORMATION

L & G Utilities 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on cost and 15% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

L & G Utilities Ltd (Registered number: 07327155)

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

2. ACCOUNTING POLICIES - continued

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
Totals
£   
COST
At 1 January 2024 3,593,107
Additions 259,922
At 31 December 2024 3,853,029
DEPRECIATION
At 1 January 2024 1,538,980
Charge for year 333,056
At 31 December 2024 1,872,036
NET BOOK VALUE
At 31 December 2024 1,980,993
At 31 December 2023 2,054,127

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 January 2024
and 31 December 2024 108,550
DEPRECIATION
At 1 January 2024 83,269
Charge for year 6,320
At 31 December 2024 89,589
NET BOOK VALUE
At 31 December 2024 18,961
At 31 December 2023 25,281

L & G Utilities Ltd (Registered number: 07327155)

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

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 January 2024
and 31 December 2024 2,000,000
NET BOOK VALUE
At 31 December 2024 2,000,000
At 31 December 2023 2,000,000

6. ULTIMATE CONTROLLING PARTY

The controlling party is L Thistlethwaite.

The ultimate controlling party is Mrs G L Thistlethwaite.