Registered number
14154718
G Lancaster Services Ltd
Filleted Accounts
30 June 2024
G Lancaster Services Ltd
Registered number: 14154718
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 60,389 57,299
Current assets
Debtors 4 4,024 3,000
Cash at bank and in hand 5,000 4,069
9,024 7,069
Creditors: amounts falling due within one year 5 (68,625) (56,974)
Net current liabilities (59,601) (49,905)
Total assets less current liabilities 788 7,394
Creditors: amounts falling due after more than one year 6 (3,305) (1,806)
Net (liabilities)/assets (2,517) 5,588
Capital and reserves
Called up share capital 1 1
Profit and loss account (2,518) 5,587
Shareholder's funds (2,517) 5,588
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Gary Kevin Lancaster
Director
Approved by the board on 26 April 2025
G Lancaster Services Ltd
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% reducing balance
Motor vehicles 20% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2023 30,034 41,590 71,624
Additions 18,186 - 18,186
At 30 June 2024 48,220 41,590 89,810
Depreciation
At 1 July 2023 6,007 8,318 14,325
Charge for the year 8,442 6,654 15,096
At 30 June 2024 14,449 14,972 29,421
Net book value
At 30 June 2024 33,771 26,618 60,389
At 30 June 2023 24,027 33,272 57,299
4 Debtors 2024 2023
£ £
Trade debtors 2,636 1,318
Other debtors 1,388 1,682
4,024 3,000
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,333 1,667
Taxation and social security costs - 1,655
Director's account 64,456 51,853
Other creditors 1,836 1,799
68,625 56,974
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 3,305 1,806
7 Related party transactions
At the reporting date, the company owed £64,456 (2023: £51,853) to the director. The loan is unsecured, interest free and repayable on demand. The director has undertaken not to demand repayment until the company's finances allow.
8 Controlling party
The company is controlled by the director.
9 Other information
G Lancaster Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
112A North Street
Hornchurch
Essex
RM11 1SU
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