Lgp Electrical Ltd

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 10481561

		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		92,263		25,215

			92,263		25,215
CURRENT ASSETS
Debtors	5	222,464		88,431
Cash at bank and in hand		148,394		66,898

		370,858		155,329
Creditors: Amounts Falling Due Within One Year	6	(330,892 )		(71,461 )

NET CURRENT ASSETS (LIABILITIES)			39,966		83,868

TOTAL ASSETS LESS CURRENT LIABILITIES			132,229		109,083

Creditors: Amounts Falling Due After More Than One Year	7		(72,899 )		(35,842 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(2,386 )		(2,386 )

NET ASSETS			56,944		70,855

CAPITAL AND RESERVES
Called up share capital	9		100		100
Profit and Loss Account			56,844		70,755

SHAREHOLDERS' FUNDS			56,944		70,855

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Lgp Electrical Ltd

Balance Sheet (continued)

As At 31 December 2024

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Liam Platt

Director

10/09/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Lgp Electrical Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10481561 . The registered office is Office 16, 206 New Road, Croxley Green, WD3 3HH.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	25
Motor Vehicles	25
Fixtures & Fittings	25
Computer Equipment	25

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Lgp Electrical Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2023: 4)

4. Tangible Assets

	Plant & Machinery etc.
	£
Cost
As at 1 January 2024	40,774
Additions	96,380

As at 31 December 2024	137,154

Depreciation
As at 1 January 2024	15,559
Provided during the period	29,332

As at 31 December 2024	44,891

Net Book Value
As at 31 December 2024	92,263

As at 1 January 2024	25,215

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Lgp Electrical Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	151,285	37,276
Amounts owed by group undertakings	21,667	-
Other debtors	49,512	51,155

	222,464	88,431

6. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	24,403	5,664
Trade creditors	218,799	35,383
Bank loans and overdrafts	35,868	-
Other creditors	3,300	3,300
Taxation and social security	48,522	27,114

	330,892	71,461

7. Creditors: Amounts Falling Due After More Than One Year

	2024	2023
	£	£
Net obligations under finance lease and hire purchase contracts	58,054	10,486
Bank loans	14,845	25,356

	72,899	35,842

8. Obligations Under Finance Leases and Hire Purchase

	2024	2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	24,403	5,664
Later than one year and not later than five years	58,054	10,486

	82,457	16,150

	82,457	16,150

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	100	100

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