Registered number
12358632
LRG CORPORATION LTD
Filleted Accounts
31 December 2024
LRG CORPORATION LTD
Registered number: 12358632
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 215,807 187,478
Current assets
Stocks 3,509 4,105
Debtors 4 2,679 7,265
Cash at bank and in hand 30,337 89,265
36,525 100,635
Creditors: amounts falling due within one year 5 (290,646) (310,760)
Net current liabilities (254,121) (210,125)
Total assets less current liabilities (38,314) (22,647)
Creditors: amounts falling due after more than one year 6 (20,849) (25,083)
Net liabilities (59,163) (47,730)
Capital and reserves
Called up share capital 100 100
Profit and loss account (59,263) (47,830)
Shareholder's funds (59,163) (47,730)
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.
Jeffrey Mohammed Mulhaimin Ali
Director
Approved by the board on 24 July 2025
LRG CORPORATION LTD
Notes to the Accounts
for the year ended 31 December 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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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:
Leasehold land and buildings Nil
Fixtures, fittings, tools and equipment 20% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 12
3 Tangible fixed assets
Land and buildings Fixture, fittings and equipment Total
£ £ £
Cost
At 1 January 2024 42,894 228,464 271,358
Additions - 71,558 71,558
At 31 December 2024 42,894 300,022 342,916
Depreciation
At 1 January 2024 - 83,880 83,880
Charge for the year - 43,229 43,229
At 31 December 2024 - 127,109 127,109
Net book value
At 31 December 2024 42,894 172,913 215,807
At 31 December 2023 42,894 144,584 187,478
4 Debtors 2024 2023
£ £
Trade debtors 2,679 7,265
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 5,604 5,604
Directors current account 77,771 90,178
Trade creditors 9,390 4,638
Taxation and social security costs 170,645 159,161
Other creditors 27,236 51,179
290,646 310,760
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 20,849 25,083
7 Controlling party
LRG Corporation Ltd (Company) is a fully owned subsidiary of KW Surrey Limited, which owns 100 ordinary shares representing 100% of the share capital in the company.
8 Other information
LRG CORPORATION LTD is a private company limited by shares and incorporated in England. Its registered office is:
17 Plumbers Row
Unit D
Upper ground
London
E1 1EQ
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