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REGISTERED NUMBER: 12047100 (England and Wales)















LMBC PROJECTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023






LMBC PROJECTS LTD (REGISTERED NUMBER: 12047100)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LMBC PROJECTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: L Friend
Mrs M Friend





REGISTERED OFFICE: 424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ





REGISTERED NUMBER: 12047100 (England and Wales)





ACCOUNTANTS: Spurling Cannon
Chartered Certified Accountants
424 Margate Road
Westwood
Ramsgate
Kent
CT12 6SJ

LMBC PROJECTS LTD (REGISTERED NUMBER: 12047100)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,591 13,182
Tangible assets 5 10,614 12,545
17,205 25,727

CURRENT ASSETS
Debtors 6 23,289 36,607
Cash at bank 3,132 1,536
26,421 38,143
CREDITORS
Amounts falling due within one year 7 16,742 31,052
NET CURRENT ASSETS 9,679 7,091
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,884

32,818

CREDITORS
Amounts falling due after more than one
year

8

27,667

32,717
NET (LIABILITIES)/ASSETS (783 ) 101

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (883 ) 1
(783 ) 101

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

LMBC PROJECTS LTD (REGISTERED NUMBER: 12047100)

BALANCE SHEET - continued
30 NOVEMBER 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 Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by:





L Friend - Director


LMBC PROJECTS LTD (REGISTERED NUMBER: 12047100)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

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

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 15% on reducing balance
Equipment - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

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

LMBC PROJECTS LTD (REGISTERED NUMBER: 12047100)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 December 2022
and 30 November 2023 32,955
AMORTISATION
At 1 December 2022 19,773
Amortisation for year 6,591
At 30 November 2023 26,364
NET BOOK VALUE
At 30 November 2023 6,591
At 30 November 2022 13,182

5. TANGIBLE FIXED ASSETS
Motor
vehicles Equipment Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 14,500 1,750 16,250
DEPRECIATION
At 1 December 2022 2,950 755 3,705
Charge for year 1,732 199 1,931
At 30 November 2023 4,682 954 5,636
NET BOOK VALUE
At 30 November 2023 9,818 796 10,614
At 30 November 2022 11,550 995 12,545

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 17,580 19,277
Sundry debtors 3,397 13,347
Directors' current accounts 2,312 2,312
Tax - 1,671
23,289 36,607

LMBC PROJECTS LTD (REGISTERED NUMBER: 12047100)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,000 8,000
Other loans 5,050 6,000
Trade creditors 3,126 9,430
Corporation Tax 246 -
VAT 230 4,622
Baypoint Sports CIC 1,473 835
Directors' current accounts 616 173
Accrued expenses and deferred income 2,001 1,992
16,742 31,052

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 4,000 8,000
Bank loans - 2-5 years 23,667 19,667
Other loans - 1-2 years - 5,050
27,667 32,717