| L & G Homes Limited |
| Registered number: |
03709047 |
| Balance Sheet |
| as at 31 March 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
911,450 |
|
|
616,702 |
|
| Current assets |
| Debtors |
4 |
|
95,597 |
|
|
13,277 |
| Cash at bank and in hand |
|
|
76,849 |
|
|
6,426 |
|
|
|
172,446 |
|
|
19,703 |
|
| Creditors: amounts falling due within one year |
5 |
|
(276,063) |
|
|
(190,212) |
|
| Net current liabilities |
|
|
|
(103,617) |
|
|
(170,509) |
|
| Total assets less current liabilities |
|
|
|
807,833 |
|
|
446,193 |
|
| Creditors: amounts falling due after more than one year |
6 |
|
|
(351,597) |
|
|
(2,800) |
|
| Provisions for liabilities |
|
|
|
(32,703) |
|
|
(20,239) |
|
|
| Net assets |
|
|
|
423,533 |
|
|
423,154 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
100 |
|
|
100 |
| Non distributable reserve |
8 |
|
|
170,515 |
|
|
133,123 |
| Profit and loss account |
|
|
|
252,918 |
|
|
289,931 |
|
| Shareholders' funds |
|
|
|
423,533 |
|
|
423,154 |
|
|
|
|
|
|
|
|
| The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The directors acknowledge their 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. |
|
|
|
|
| Gary Kirkwood |
| Director |
| Approved by the board on 12 November 2025 |
|
| L & G Homes Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 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: |
|
|
Plant and machinery |
over 5 years |
|
|
Investment property |
|
Investment properties are revalued annually and any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment properties. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery etc |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 April 2024 |
604,861 |
|
20,689 |
|
625,550 |
|
Additions |
245,282 |
|
4,037 |
|
249,319 |
|
Surplus/(deficit) on revaluation |
49,857 |
|
- |
|
49,857 |
|
At 31 March 2025 |
900,000 |
|
24,726 |
|
924,726 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2024 |
- |
|
8,848 |
|
8,848 |
|
Charge for the year |
- |
|
4,428 |
|
4,428 |
|
At 31 March 2025 |
- |
|
13,276 |
|
13,276 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
900,000 |
|
11,450 |
|
911,450 |
|
At 31 March 2024 |
604,861 |
|
11,841 |
|
616,702 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2025 |
|
2024 |
| £ |
£ |
|
Historical cost |
696,782 |
|
447,463 |
|
Cumulative depreciation based on historical cost |
100,277 |
|
79,587 |
|
|
|
|
|
|
596,505 |
|
367,876 |
|
Investment properties were valued during the period by the directors. Valuations are based on for sale values of comparable properties. |
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
3,599 |
|
1,258 |
|
Other debtors |
91,998 |
|
12,019 |
|
|
|
|
|
|
95,597 |
|
13,277 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans and overdrafts |
2,400 |
|
2,400 |
|
Taxation and social security costs |
243 |
|
38 |
|
Other creditors |
273,420 |
|
187,774 |
|
|
|
|
|
|
276,063 |
|
190,212 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due after one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Bank loans |
351,597 |
|
2,800 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Loans |
2025 |
|
2024 |
| £ |
£ |
|
Creditors include: |
|
Amounts payable otherwise than by instalment falling due for payment after more than five years |
|
351,197 |
|
- |
|
|
|
|
|
|
|
|
|
|
|
Secured bank loans |
351,197 |
|
- |
|
|
|
|
|
|
|
|
|
|
Loans are secured against investment properties owned by the company. |
|
|
| 8 |
Non distributable reserve |
2025 |
|
2024 |
| £ |
£ |
|
|
At 1 April 2024 |
133,123 |
|
140,661 |
|
Gain/(loss) on revaluation of land and buildings |
49,857 |
|
(3,310) |
|
Deferred taxation arising on the revaluation of land and buildings |
(12,465) |
|
(4,228) |
|
|
At 31 March 2025 |
170,515 |
|
133,123 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Related party transactions |
|
|
Dividends of £9,000 (2024: £nil) were paid to each of Gary Kirkwood and Mrs Lisa Anne Kirkwood during the period.
Interest free, unsecured loans of £270 (2024: £270) were due to the company from L&G Childcare Limited, a company controlled by the directors. Loans are repayable on demand.
Interest free, unsecured loans of £120,000 were advanced to the company by Heathfield House Day Nursery Limited, a company controlled by the directors. The balance due to Heathfield House Day Nursery Limited at the period end was £200,000 (2024: £80,000).
Interest free, unsecured loans were due from the company to to Little Weavers Day Nursery Limited, a company controlled by the directors. The balance due to Little Weavers Day Nursery Limited at the period end was £60,000 (2024: £60,000).
An unsecured, interest free loan of £5,000 was advanced to Pure Property Partnership (Investments) Limited during the period, a company of which Gary Kirkwood and James Kirkwood are directors. The balance due from Pure Property Partnership (Investments) Limited was £15,000 (2024: £10,000).
An unsecured, interest free loan of £52,000 was advanced to K.L. (Knutsford) Ltd during the period, a company of which James Kirkwood is a director. |
|
| 10 |
Controlling party |
|
|
The company is controlled by the directors. |
|
|
| 11 |
Other information |
|
|
L & G Homes Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
C/O Scullard Chartered Accountants |
|
197 - 201 Manchester Road |
|
West Timperley |
|
Altrincham |
|
WA14 5NU |