REGISTERED NUMBER: SC232502 (Scotland)

Unaudited Financial Statements for the Year Ended 31 October 2024

for

LGRP DESIGN & BUILD LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J C Gunning

REGISTERED OFFICE:

29 Brandon Street

Hamilton

South Lanarkshire

ML3 6DA

REGISTERED NUMBER:

SC232502 (Scotland)

FIXED ASSETS

Tangible assets

5

103,427

121,878

Investments

6

51

51

103,478

121,929

CURRENT ASSETS

Stocks

130,529

192,633

Debtors

7

170,614

137,855

Cash at bank and in hand

4,989

10,038

306,132

340,526

CREDITORS

Amounts falling due within one year

8

341,021

305,156

NET CURRENT (LIABILITIES)/ASSETS

(34,889

)

35,370

TOTAL ASSETS LESS CURRENT LIABILITIES

68,589

157,299

CREDITORS

Amounts falling due after more than one year

9

(38,014

)

(80,580

)

PROVISIONS FOR LIABILITIES

(25,857

)

(30,469

)

NET ASSETS

4,718

46,250

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

3,718

45,250

4,718

46,250

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 October 2025 and were signed by:

J C Gunning - Director

1.	STATUTORY INFORMATION

LGRP Design & Build Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. There were no material departures from the standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about LGRP Design & Build Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 November 2023

219,489

Additions

13,097

At 31 October 2024

232,586

DEPRECIATION

At 1 November 2023

97,611

Charge for year

31,548

At 31 October 2024

129,159

NET BOOK VALUE

At 31 October 2024

103,427

At 31 October 2023

121,878

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 November 2023

162,174

Transfer to ownership

(64,571

)

At 31 October 2024

97,603

DEPRECIATION

At 1 November 2023

57,562

Charge for year

19,401

Transfer to ownership

(44,724

)

At 31 October 2024

32,239

NET BOOK VALUE

At 31 October 2024

65,364

At 31 October 2023

104,612

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 November 2023

and 31 October 2024

51

NET BOOK VALUE

At 31 October 2024

51

At 31 October 2023

51

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

43,901

28,352

Amounts owed by group undertakings

16,243

-

Other debtors

110,470

109,503

170,614

137,855

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

11,531

11,246

Hire purchase contracts

21,427

31,403

Trade creditors

129,887

22,008

Amounts owed to group undertakings

-

51,993

Taxation and social security

50,877

56,018

Other creditors

127,299

132,488

341,021

305,156

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

8,833

20,364

Hire purchase contracts

29,181

60,216

38,014

80,580

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

20,364

31,610

Hire purchase contracts

50,608

91,619

70,972

123,229

The bank loan is 100% secured by the UK Government.

The hire purchase contracts are secured over the assets concerned.

11.	RELATED PARTY DISCLOSURES

The company operates a current account with its director. During the year the repaid £21,173 to the company. At the year end, the balance due from the director was £956 (2023 - £22,129)