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REGISTERED NUMBER: 11775270 (England and Wales)














Financial Statements for the Year Ended 31 January 2023

for

Lm Creative Arts Ltd

Lm Creative Arts Ltd (Registered number: 11775270)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Lm Creative Arts Ltd

Company Information
for the Year Ended 31 January 2023







DIRECTOR: Miss L E Macritchie





REGISTERED OFFICE: The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY





REGISTERED NUMBER: 11775270 (England and Wales)





ACCOUNTANTS: Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY

Lm Creative Arts Ltd (Registered number: 11775270)

Statement of Financial Position
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,000 4,000
Property, plant and equipment 5 416 555
2,416 4,555

CURRENT ASSETS
Inventories 3,883 -
Debtors 6 868 -
Cash at bank 5,625 12,398
10,376 12,398
CREDITORS
Amounts falling due within one year 7 7,536 6,848
NET CURRENT ASSETS 2,840 5,550
TOTAL ASSETS LESS CURRENT LIABILITIES 5,256 10,105

CREDITORS
Amounts falling due after more than one
year

8

6,560

8,333
NET (LIABILITIES)/ASSETS (1,304 ) 1,772

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (1,305 ) 1,771
SHAREHOLDERS' FUNDS (1,304 ) 1,772

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Lm Creative Arts Ltd (Registered number: 11775270)

Statement of Financial Position - continued
31 January 2023


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 27 October 2023 and were signed by:





Miss L E Macritchie - Director


Lm Creative Arts Ltd (Registered number: 11775270)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Lm Creative Arts Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

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

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 25% on reducing balance

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 inventories to their present location and condition.

Going concern
The financial statements have been prepared on the going concern basis. The director is of the opinion that the shareholders will continue to support it and provide adequate funding when necessary to enable it to meet its obligations for the foreseeable future, being for a period of at least twelve months from the date of approval of the financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Lm Creative Arts Ltd (Registered number: 11775270)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 10,000
AMORTISATION
At 1 February 2022 6,000
Amortisation for year 2,000
At 31 January 2023 8,000
NET BOOK VALUE
At 31 January 2023 2,000
At 31 January 2022 4,000

5. PROPERTY, PLANT AND EQUIPMENT
Computer
equipment
£   
COST
At 1 February 2022
and 31 January 2023 1,317
DEPRECIATION
At 1 February 2022 762
Charge for year 139
At 31 January 2023 901
NET BOOK VALUE
At 31 January 2023 416
At 31 January 2022 555

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Other debtors 868 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 2,000 1,667
Taxation and social security - 944
Other creditors 5,536 4,237
7,536 6,848

Lm Creative Arts Ltd (Registered number: 11775270)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans 6,560 8,333

9. RELATED PARTY DISCLOSURES

The director Miss L E Macritchie is considered to be the key management personnel.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Lm Creative Arts Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lm Creative Arts Ltd for the year ended 31 January 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Lm Creative Arts Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lm Creative Arts Ltd and state those matters that we have agreed to state to the director of Lm Creative Arts Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lm Creative Arts Ltd and its director for our work or for this report.

It is your duty to ensure that Lm Creative Arts Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Lm Creative Arts Ltd. You consider that Lm Creative Arts Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lm Creative Arts Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Nordens
The Retreat
406 Roding Lane South
Woodford Green
Essex
IG8 8EY


Date: .............................................