Registered number
10661844
L M Contractors Southern Ltd
Filleted Accounts
31 March 2023
L M Contractors Southern Ltd
Registered number: 10661844
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 30,576 11,336
Current assets
Debtors 4 10,913 14,320
Cash at bank and in hand 11,627 10,332
22,540 24,652
Creditors: amounts falling due within one year 5 (15,529) (19,786)
Net current assets 7,011 4,866
Total assets less current liabilities 37,587 16,202
Creditors: amounts falling due after more than one year 6 (29,594) (15,835)
Net assets 7,993 367
Capital and reserves
Called up share capital 100 100
Profit and loss account 7,893 267
Shareholder's funds 7,993 367
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.
L McLachlan
Director
Approved by the board on 18 September 2023
L M Contractors Southern Ltd
Notes to the Accounts
for the year ended 31 March 2023
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:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 15,780 14,000 29,780
Additions - 34,995 34,995
Disposals - (14,000) (14,000)
At 31 March 2023 15,780 34,995 50,775
Depreciation
At 1 April 2022 10,044 8,400 18,444
Charge for the year 3,156 6,999 10,155
On disposals - (8,400) (8,400)
At 31 March 2023 13,200 6,999 20,199
Net book value
At 31 March 2023 2,580 27,996 30,576
At 31 March 2022 5,736 5,600 11,336
4 Debtors 2023 2022
£ £
Trade debtors - 3,440
Other debtors 10,913 10,880
10,913 14,320
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,452 9,360
Trade creditors 2,626 2,626
Taxation and social security costs 1,579 7,358
Other creditors 872 442
15,529 19,786
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 29,594 15,835
7 Other information
L M Contractors Southern Ltd is a private company limited by shares and incorporated in England. Its registered office is:
17 Appleton Road
Bitterne Park
Southampton
Hampshire
SO18 1LB
L M Contractors Southern Ltd 10661844 false 2022-04-01 2023-03-31 2023-03-31 VT Final Accounts April 2022 L McLachlan No description of principal activity 10661844 2021-04-01 2022-03-31 10661844 core:WithinOneYear 2022-03-31 10661844 core:AfterOneYear 2022-03-31 10661844 core:ShareCapital 2022-03-31 10661844 core:RetainedEarningsAccumulatedLosses 2022-03-31 10661844 2022-04-01 2023-03-31 10661844 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 10661844 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 10661844 bus:Director40 2022-04-01 2023-03-31 10661844 1 2022-04-01 2023-03-31 10661844 2 2022-04-01 2023-03-31 10661844 core:PlantMachinery 2022-04-01 2023-03-31 10661844 core:Vehicles 2022-04-01 2023-03-31 10661844 countries:England 2022-04-01 2023-03-31 10661844 bus:FRS102 2022-04-01 2023-03-31 10661844 bus:FullAccounts 2022-04-01 2023-03-31 10661844 2023-03-31 10661844 core:WithinOneYear 2023-03-31 10661844 core:AfterOneYear 2023-03-31 10661844 core:ShareCapital 2023-03-31 10661844 core:RetainedEarningsAccumulatedLosses 2023-03-31 10661844 core:PlantMachinery 2023-03-31 10661844 core:Vehicles 2023-03-31 10661844 2022-03-31 10661844 core:PlantMachinery 2022-03-31 10661844 core:Vehicles 2022-03-31 iso4217:GBP xbrli:pure