2023-07-012024-06-302024-06-30falseSC701151LMT - TEAM WOODMASTER 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LMT - TEAM WOODMASTER LTD

Registered Number
SC701151
(Scotland)

Unaudited Financial Statements for the Year ended
30 June 2024

LMT - TEAM WOODMASTER LTD
Company Information
for the year from 1 July 2023 to 30 June 2024

Directors

TRYBUS, Lukasz
WOZNICA, Monika

Registered Address

84 Foxbar Road
Paisley
PA2 0AU

Registered Number

SC701151 (Scotland)
LMT - TEAM WOODMASTER LTD
Balance Sheet as at
30 June 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3405476
405476
Current assets
Debtors1,0611,061
Cash at bank and on hand40093
1,4611,154
Creditors amounts falling due within one year4(4,693)(2,405)
Net current assets (liabilities)(3,232)(1,251)
Total assets less current liabilities(2,827)(775)
Net assets(2,827)(775)
Capital and reserves
Called up share capital22
Profit and loss account(2,829)(777)
Shareholders' funds(2,827)(775)
The financial statements were approved and authorised for issue by the Board of Directors on 27 July 2024, and are signed on its behalf by:
TRYBUS, Lukasz
Director
WOZNICA, Monika
Director

Registered Company No. SC701151
LMT - TEAM WOODMASTER LTD
Notes to the Financial Statements
for the year ended 30 June 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in Scotland. 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.
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:
Trade and other 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.
Trade and other 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.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
2.Average number of employees

20242023
Average number of employees during the year22
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 July 23649
At 30 June 24649
Depreciation and impairment
At 01 July 23173
Charge for year71
At 30 June 24244
Net book value
At 30 June 24405
At 30 June 23476
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2,3721,776
Bank borrowings and overdrafts2,321629
Total4,6932,405
5.Creditors: amounts due after one year