Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31falsetrue2022-01-01false32 11751156 2022-01-01 2022-12-31 11751156 2021-01-01 2021-12-31 11751156 2022-12-31 11751156 2021-12-31 11751156 c:Director1 2022-01-01 2022-12-31 11751156 d:CurrentFinancialInstruments 2022-12-31 11751156 d:CurrentFinancialInstruments 2021-12-31 11751156 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11751156 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 11751156 d:ShareCapital 2022-12-31 11751156 d:ShareCapital 2021-12-31 11751156 d:RetainedEarningsAccumulatedLosses 2022-12-31 11751156 d:RetainedEarningsAccumulatedLosses 2021-12-31 11751156 c:OrdinaryShareClass1 2022-01-01 2022-12-31 11751156 c:OrdinaryShareClass1 2022-12-31 11751156 c:OrdinaryShareClass1 2021-12-31 11751156 c:FRS102 2022-01-01 2022-12-31 11751156 c:Audited 2022-01-01 2022-12-31 11751156 c:FullAccounts 2022-01-01 2022-12-31 11751156 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 11751156 c:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11751156









LMSA ENGINEERING LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
LMSA ENGINEERING LIMITED
REGISTERED NUMBER: 11751156

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
404,378
299,667

Cash at bank and in hand
  
3,858
373,769

  
408,236
673,436

Creditors: amounts falling due within one year
 5 
(273,507)
(590,200)

Net current assets
  
 
 
134,729
 
 
83,236

Total assets less current liabilities
  
134,729
83,236

  

Net assets
  
134,729
83,236


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
  
134,629
83,136

  
134,729
83,236


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






L Fares
Director

Date: 9 October 2023

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
LMSA ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

The Company is a private company limited by shares and is incorporated in England and Wales.
The registered office is 35 Ballards Lane, London, N3 1XW.
The principal activity of the company is that of the distribution and supply of renewable energy solutions, UPS Systems, Batteries, Generators and Energy Storage Solutions in Europe, the Middle East and Africa.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the director continues to adopt the going concern basis of accounting in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 2

 
LMSA ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

 
2.6

Financial instruments

(i) Financial assets
Basic financial assets, including trade and other debtors and amounts owed by group undertaking, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective
Page 3

 
LMSA ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.6
Financial instruments (continued)

evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and amounts owed to group undertaking, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2021 - 2).


4.


Debtors

2022
2021
£
£


Trade debtors
375,102
160,601

Other debtors
7,116
8,282

Prepayments and accrued income
22,160
130,784

404,378
299,667


Page 4

 
LMSA ENGINEERING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

5.


Creditors: Amounts falling due within one year

2022
2021
£
£

Bank overdrafts
1,567
-

Trade creditors
10,602
19,124

Amounts owed to group undertakings
189,545
529,775

Corporation tax
27,423
9,952

Other taxation and social security
-
9,499

Other creditors
1,731
850

Accruals and deferred income
42,639
21,000

273,507
590,200



6.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



100 (2021 - 100) Ordinary shares of £1.00 each
100
100



7.


Commitments under operating leases

The Company had no commitments under non-cancellable operating leases at the reporting date.


8.


Related party transactions

Where possible, the Company has taken advantge of Section 33.1A of FRS102 not to disclose transactions with other wholly owned group undertakings.


9.


Controlling party

The company is a wholly owned subsidiary of BCI for Communication and Advanced Technology Co.LLC, a company registered in Jordan. The Registered Office and principal place of business is E'mar Towers 6th, Circle Zahran Street, No. 196, 16th Floor, Amman, Jordan, 11195.


10.


Auditors' information

The auditors' report on the financial statements for the year ended 31 December 2022 was unqualified.

The audit report was signed on 9 October 2023 by Ian Saunderson FCA (Senior Statutory Auditor) on behalf of BKL Audit LLP.

 
Page 5