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REGISTERED NUMBER: 07847461 (England and Wales)








Unaudited Financial Statements

for the Year Ended 31 March 2024

for

LM50 Limited

LM50 Limited (Registered number: 07847461)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LM50 Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: L H A Morris





REGISTERED OFFICE: 3 Stephenson Close
Twyford
Berkshire
RG10 9FG





REGISTERED NUMBER: 07847461 (England and Wales)





ACCOUNTANTS: Lane Monnington Welton
Chartered Accountants
Riverside View
Basing Road
Old Basing
Basingstoke
Hampshire
RG24 7AL

LM50 Limited (Registered number: 07847461)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,135 5,356

CURRENT ASSETS
Stocks 89,706 83,273
Debtors 5 15,902 14,794
Cash at bank 36,547 58,340
142,155 156,407
CREDITORS
Amounts falling due within one year 6 62,962 78,599
NET CURRENT ASSETS 79,193 77,808
TOTAL ASSETS LESS CURRENT
LIABILITIES

83,328

83,164

CREDITORS
Amounts falling due after more than one
year

7

(11,480

)

(13,703

)

PROVISIONS FOR LIABILITIES 9 (786 ) (1,018 )
NET ASSETS 71,062 68,443

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings 71,061 68,442
SHAREHOLDERS' FUNDS 71,062 68,443

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

LM50 Limited (Registered number: 07847461)

Balance Sheet - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 April 2024 and were signed by:





L H A Morris - Director


LM50 Limited (Registered number: 07847461)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

LM50 Limited 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 represents sales of goods net of VAT and trade discounts. Turnover is recognised when the risks and rewards of ownership of goods have been transferred to the customer. The risks and rewards of ownership of goods are deemed to have been transferred when the goods are shipped to, or are picked up by, the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Office equipment - 20% on cost

Stocks
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete or sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than the cost

Financial instruments
Debtors and creditors payable/receivable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price, including transaction costs. Subsequently they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


LM50 Limited (Registered number: 07847461)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date, adjusted for indexation where applicable.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Impairment
Assets not measured at fair value are reviewed for any indication that an asset may be impaired at each balance sheet date. The directors review the carrying amount of the relevant assets and compare them to their market values and recoverable amounts. Where the carrying amount exceeds this, an impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Office
fittings equipment Totals
£    £    £   
COST
At 1 April 2023 26,622 5,610 32,232
Additions 583 - 583
At 31 March 2024 27,205 5,610 32,815
DEPRECIATION
At 1 April 2023 21,810 5,066 26,876
Charge for year 1,527 277 1,804
At 31 March 2024 23,337 5,343 28,680
NET BOOK VALUE
At 31 March 2024 3,868 267 4,135
At 31 March 2023 4,812 544 5,356

LM50 Limited (Registered number: 07847461)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 15,902 14,794

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 2,223 2,222
Trade creditors 41,773 58,028
Taxation and social security 6,813 14,278
Other creditors 12,153 4,071
62,962 78,599

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 11,480 13,703

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,591 4,814

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.3.24 31.3.23
£    £   
Within one year 28,000 24,000
Between one and five years 56,000 72,000
84,000 96,000

The operating lease held on the premises occupied by the company is guaranteed by a personal guarantee given by the director of the company, Mr L H A Morris.

9. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 786 1,018

LM50 Limited (Registered number: 07847461)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 April 2023 1,018
Accelerated capital allowances (232 )
Balance at 31 March 2024 786

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
1 Ordinary £1 1 1