2024-02-272025-03-312025-03-31false15524799LG CONSTRUCTION (SW) 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LG CONSTRUCTION (SW) LTD

Registered Number
15524799
(England and Wales)

Unaudited Financial Statements for the Period ended
31 March 2025

LG CONSTRUCTION (SW) LTD
Company Information
for the period from 27 February 2024 to 31 March 2025

Directors

Lee Gardiner
Danielle Bailey

Registered Address

Maldrea Cottage
Pancrasweek
Holsworthy
EX22 7JW

Registered Number

15524799 (England and Wales)
LG CONSTRUCTION (SW) LTD
Balance Sheet as at
31 March 2025

Notes

2025

£

£

Fixed assets
Intangible assets35,400
Tangible assets463,321
68,721
Current assets
Stocks5250
Debtors6,755
Cash at bank and on hand6,557
13,562
Creditors amounts falling due within one year6(50,868)
Net current assets (liabilities)(37,306)
Total assets less current liabilities31,415
Creditors amounts falling due after one year7(33,433)
Provisions for liabilities9(12,031)
Net assets(14,049)
Capital and reserves
Called up share capital100
Profit and loss account(14,149)
Shareholders' funds(14,049)
The financial statements were approved and authorised for issue by the Board of Directors on 25 July 2025, and are signed on its behalf by:
Lee Gardiner
Director
Registered Company No. 15524799
LG CONSTRUCTION (SW) LTD
Notes to the Financial Statements
for the period ended 31 March 2025

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Deferred tax
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account. Goodwill is considered to have a finite useful life and is amortised on a straight line basis over its expected life, which is 10 years.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Plant and machinery15
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

2025
Average number of employees during the year1
3.Intangible assets

Goodwill

Total

££
Cost or valuation
Additions6,0006,000
At 31 March 256,0006,000
Amortisation and impairment
Charge for year600600
At 31 March 25600600
Net book value
At 31 March 255,4005,400
At 26 February 24--
4.Tangible fixed assets

Plant & machinery

Total

££
Cost or valuation
Additions74,49574,495
At 31 March 2574,49574,495
Depreciation and impairment
Charge for year11,17411,174
At 31 March 2511,17411,174
Net book value
At 31 March 2563,32163,321
At 26 February 24--
5.Stocks

2025

£
Raw materials and consumables250
Total250
6.Creditors: amounts due within one year

2025

£
Trade creditors / trade payables27,820
Taxation and social security7,903
Finance lease and HP contracts14,839
Other creditors306
Total50,868
7.Creditors: amounts due after one year

2025

£
Other creditors33,433
Total33,433
8.Obligations under finance leases

2025

£
Finance lease and HP contracts48,272
9.Provisions for liabilities

2025

£
Net deferred tax liability (asset)12,031
Total12,031