Company registration number 09267880 (England and Wales)
LG CONTRACTORS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
LG CONTRACTORS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
LG CONTRACTORS LIMITED (REGISTERED NUMBER: 09267880)
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
10,370
Current assets
Debtors
4
669
34,450
Cash at bank and in hand
48,899
34,840
49,568
69,290
Creditors: amounts falling due within one year
5
(3,081)
(15,954)
Net current assets
46,487
53,336
Net assets
46,487
63,706
Capital and reserves
Called up share capital
3
3
Profit and loss reserves
46,484
63,703
Total equity
46,487
63,706

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 30 April 2025 and are signed on its behalf by:
S L Gillam
Director
LG CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
Company information

LG Contractors Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19/21 Swan Street, West Malling, United Kingdom, ME19 6JU.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company is not going to continue trading in the next twelve months. However, in the opinion of the director, there would be no material difference to the financial statements if they were prepared on any other basis. The director therefore continues to use the going concern basis in these financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
25% on reducing balance
Computer equipment
33% on cost
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

LG CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Plant and machinery
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 November 2023
19,030
7,007
48,652
74,689
Disposals
(19,030)
-
0
(48,652)
(67,682)
At 31 October 2024
-
0
7,007
-
0
7,007
Depreciation and impairment
At 1 November 2023
16,567
7,006
40,746
64,319
Depreciation charged in the year
616
1
1,976
2,593
Eliminated in respect of disposals
(17,183)
-
0
(42,722)
(59,905)
At 31 October 2024
-
0
7,007
-
0
7,007
Carrying amount
At 31 October 2024
-
0
-
0
-
0
-
0
At 31 October 2023
2,463
1
7,906
10,370
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
30,159
Other debtors
669
4,291
669
34,450
LG CONTRACTORS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
-
0
9,939
Taxation and social security
-
0
3,037
Other creditors
3,081
2,978
3,081
15,954
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