2022-11-012023-10-312023-10-31false08724123L D Mechanical Solutions 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L D Mechanical Solutions Ltd

Registered Number
08724123
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

L D Mechanical Solutions Ltd
Company Information
for the year from 1 November 2022 to 31 October 2023

Director

Doherty, Brian Lee

Registered Address

C/O Seftons
135 - 143 Union Street
Oldham
OL1 1TE

Registered Number

08724123 (England and Wales)
L D Mechanical Solutions Ltd
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets318,17722,858
18,17722,858
Current assets
Stocks415,00010,000
Debtors90,678126,941
Cash at bank and on hand9,2225,614
114,900142,555
Creditors amounts falling due within one year5(29,405)(25,993)
Net current assets (liabilities)85,495116,562
Total assets less current liabilities103,672139,420
Creditors amounts falling due after one year6(24,365)(34,167)
Net assets79,307105,253
Capital and reserves
Called up share capital22
Profit and loss account79,305105,251
Shareholders' funds79,307105,253
The financial statements were approved and authorised for issue by the Director on 5 April 2024, and are signed on its behalf by:
Doherty, Brian Lee
Director
Registered Company No. 08724123
L D Mechanical Solutions Ltd
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Land and buildings20
Fixtures and fittings20
Vehicles25
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20232022
Average number of employees during the year33
3.Tangible fixed assets

Land & buildings

Vehicles

Fixtures & fittings

Total

££££
Cost or valuation
At 01 November 2222,0069,2156,97038,191
At 31 October 2322,0069,2156,97038,191
Depreciation and impairment
At 01 November 224,4017,0213,91115,333
Charge for year3,5215486124,681
At 31 October 237,9227,5694,52320,014
Net book value
At 31 October 2314,0841,6462,44718,177
At 31 October 2217,6052,1943,05922,858
4.Stocks

2023

2022

££
Work in progress15,00010,000
Total15,00010,000
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables2,7863,568
Bank borrowings and overdrafts10,00010,000
Taxation and social security12,9568,990
Accrued liabilities and deferred income3,6633,435
Total29,40525,993
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts24,36534,167
Total24,36534,167
7.Directors advances, credits and guarantees
During the year the company made advances to the director. The advances are interest free and repayable on demand. At the balance sheet date the total advances outstanding amounted to £26,950 which was repaid back to the company within 9 months of the year-end.