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Registered number: 13719165
LM Plant & Sales Ltd
Unaudited Financial Statements
For The Year Ended 30 November 2023
Kudos Accountants Ltd
15 Front Street
Sherburn Hill
Durham
Co. Durham
DH6 1PA
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 13719165
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 106,647 107,799
106,647 107,799
CURRENT ASSETS
Debtors 5 42,136 112,241
Cash at bank and in hand 2,533 11,160
44,669 123,401
Creditors: Amounts Falling Due Within One Year 6 (43,553 ) (123,876 )
NET CURRENT ASSETS (LIABILITIES) 1,116 (475 )
TOTAL ASSETS LESS CURRENT LIABILITIES 107,763 107,324
Creditors: Amounts Falling Due After More Than One Year 7 (75,207 ) (64,508 )
NET ASSETS 32,556 42,816
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 32,456 42,716
SHAREHOLDERS' FUNDS 32,556 42,816
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For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Leigh Moore
Director
19th March 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
LM Plant & Sales Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13719165 . The registered office is 15 Front Street, Sherburn Hill, Durham, County Durham, DH6 1PA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Motor Vehicles 20% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Tangible Assets
Motor Vehicles
£
Cost
As at 1 December 2022 118,650
Additions 38,500
Disposals (16,795 )
As at 30 November 2023 140,355
...CONTINUED
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Depreciation
As at 1 December 2022 10,851
Provided during the period 26,804
Disposals (3,947 )
As at 30 November 2023 33,708
Net Book Value
As at 30 November 2023 106,647
As at 1 December 2022 107,799
5. Debtors
2023 2022
£ £
Due within one year
Trade debtors 32,556 110,399
Other debtors 151 -
VAT - 1,797
Director's loan account 9,429 45
42,136 112,241
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 26,576 18,186
Trade creditors 3,839 80,295
VAT 12,688 -
Other creditors - 24,945
Accruals and deferred income 450 450
43,553 123,876
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 75,207 64,508
75,207 64,508
8. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 32,376 21,409
Later than one year and not later than five years 91,884 76,057
124,260 97,466
Less: Finance charges allocated to future periods 22,477 14,772
101,783 82,694
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9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
10. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 December 2022 Amounts advanced Amounts repaid Amounts written off As at 30 November 2023
£ £ £ £ £
Mr Leigh Moore 45 9,500 116 - 9,429
The above loan is unsecured, interest free and repayable on demand.
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