LML Coaching Ltd SC711466 false 2022-11-01 2023-10-31 2023-10-31 The principal activity of the company is executive coaching and mentoring. Digita Accounts Production Advanced 6.30.9574.0 true false SC711466 2022-11-01 2023-10-31 SC711466 2023-10-31 SC711466 bus:OrdinaryShareClass1 2023-10-31 SC711466 core:CurrentFinancialInstruments 2023-10-31 SC711466 core:CurrentFinancialInstruments core:WithinOneYear 2023-10-31 SC711466 bus:SmallEntities 2022-11-01 2023-10-31 SC711466 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 SC711466 bus:FilletedAccounts 2022-11-01 2023-10-31 SC711466 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 SC711466 bus:RegisteredOffice 2022-11-01 2023-10-31 SC711466 bus:Director1 2022-11-01 2023-10-31 SC711466 bus:Director2 2022-11-01 2023-10-31 SC711466 bus:Director3 2022-11-01 2023-10-31 SC711466 bus:OrdinaryShareClass1 2022-11-01 2023-10-31 SC711466 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 SC711466 core:OtherRelatedParties 2022-11-01 2023-10-31 SC711466 countries:Scotland 2022-11-01 2023-10-31 SC711466 2021-10-06 2022-10-31 SC711466 2022-10-31 SC711466 bus:OrdinaryShareClass1 2022-10-31 SC711466 core:CurrentFinancialInstruments 2022-10-31 SC711466 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: SC711466

LML Coaching Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

LML Coaching Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

LML Coaching Ltd

Company Information

Directors

Mr G McKechnie

Mr I Limond

Mr S Leo

Registered office

 

Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

Accountants

Glen Drummond Ltd
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

 

LML Coaching Ltd

(Registration number: SC711466)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Current assets

 

Stocks

4

-

2,550

Cash at bank and in hand

 

16

592

 

16

3,142

Creditors: Amounts falling due within one year

6

(11,156)

(8,366)

Total assets less current liabilities

 

(11,140)

(5,224)

Provisions for liabilities

-

1,012

Net liabilities

 

(11,140)

(4,212)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(11,240)

(4,312)

Shareholders' deficit

 

(11,140)

(4,212)

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 July 2024 and signed on its behalf by:
 

 

LML Coaching Ltd

(Registration number: SC711466)
Balance Sheet as at 31 October 2023

.........................................
Mr I Limond
Director

 

LML Coaching Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in Scotland.

The address of its registered office is:
Argyll House
Quarrywood Court
Livingston
West Lothian
EH54 6AX

These financial statements were authorised for issue by the Board on 23 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. There were no material departures from that standard.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company ceased trading on 31 October 2023 and the financial statements have been prepared on a basis other than the going concern basis. This basis includes, where applicable, writing the company's assets down to net realisable value and making provisions in respect of contracts that have become onerous at the balance sheet date. No provision has been made for the future costs of terminating the business unless such costs were
committed to at the reporting date.

The presentation currency of the financial statements is the Pound Sterling (£).

Going concern

The director has concluded that the company is not a going concern and, as disclosed within the basis of
preparation accounting policy above, the financial statement have been prepared on a basis other than the going
concern basis as the company ceased trading on 31 October 2023.

 

LML Coaching Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Revenue recognition

Turnover comprises the fair value of the consideration derived from executive coaching and mentoring. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tax

The tax expense for the period comprises tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

At the balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the profit and loss account in the period it is incurred.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

LML Coaching Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 3 (2022 - 3).

4

Stocks

2023
£

2022
£

Stock

-

2,550

5

Debtors

2023
£

2022
£

-

-

 

LML Coaching Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

6,454

4,594

Accruals and deferred income

 

1,440

1,440

Other creditors

 

3,262

2,332

 

11,156

8,366

7

Loans and borrowings

Current loans and borrowings

2023
£

2022
£

Other borrowings

6,454

4,594

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       
 

LML Coaching Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

9

Related party transactions

The company operates a loan account with the director, Mr G McKechnie.
During the year, the director advanced loans totalling £130 (2022 - £2,096) to the company. At the year end, the balance due to the director was £2,226 (2022 - £2,096). This loan is unsecured, interest free and has no fixed repayment terms.

The company operates a loan account with the director, Mr S Leo.
During the year, the director advanced loans totalling £930 (2022 - £2,097) to the company. At the year end, the balance due to the director was £3,027 (2022 - £2,097). This loan is unsecured, interest free and has no fixed repayment terms.

The company operates a loan account with the director, Mr I Limond.
During the year, the director advanced loans totalling £930 (2022 - £2,497) to the company. At the year end, the balance due to the director was £3,427 (2022 - £2,497). This loan is unsecured, interest free and has no fixed repayment terms.

The company operates a loan account with Al Anqa Ltd, a company controlled by Mr G McKechnie.
During the year, the company purchased goods and services totalling £2,614 (2022 - £2,614) from Al Anqa Ltd. This was conducted under normal commercial terms. During the year, The company repaid loans totalling £1,698 (2022 - £2,498) to Al Anqa Ltd. At the year end, the balance due to Al Anqa Ltd was £1,036. This loan is unsecured, interest free and has no fixed repayment terms.