Company Registration No. 11074735 (England and Wales)
LMB GROUP LTD
Filleted accounts
for the year ended 30 November 2023
LMB GROUP LTD
Company Information
for the year ended 30 November 2023
Directors
Lee Murphy
Joanna Elizabeth Murphy
Company Number
11074735 (England and Wales)
Registered Office
167 Shirley Road
Croydon
Surrey
CR0 8SS
Accountants
SSJ Accountants Ltd
173A High Street
Beckenham
Kent
BR3 1AH
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of LMB GROUP LTD for the year ended 30 November 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
LMB GROUP LTD for the year ended
30 November 2023 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of LMB GROUP LTD, as a body, in accordance with the terms of our engagement letter dated 20 November 2017. Our work has been undertaken solely to prepare for your approval the accounts of LMB GROUP LTD and state those matters that we have agreed to state to the Board of Directors of LMB GROUP LTD, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than LMB GROUP LTD and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that LMB GROUP LTD has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of LMB GROUP LTD. You consider that LMB GROUP LTD is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of LMB GROUP LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
SSJ Accountants Ltd
Chartered Accountants
173A High Street
Beckenham
Kent
BR3 1AH
18 July 2024
LMB GROUP LTD
Statement of financial position
as at 30 November 2023
Tangible assets
4,806
6,407
Inventories
175,000
178,400
Debtors
1,549,200
2,017,982
Cash at bank and in hand
205,401
226,966
Creditors: amounts falling due within one year
(590,066)
(938,979)
Net current assets
1,339,535
1,484,369
Total assets less current liabilities
1,399,591
1,490,776
Creditors: amounts falling due after more than one year
(345,041)
(572,634)
Net assets
1,054,550
918,142
Called up share capital
100
100
Profit and loss account
1,054,450
918,042
Shareholders' funds
1,054,550
918,142
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 20 July 2024 and were signed on its behalf by
Lee Murphy
Director
Company Registration No. 11074735
LMB GROUP LTD
Notes to the Accounts
for the year ended 30 November 2023
LMB GROUP LTD is a private company, limited by shares, registered in England and Wales, registration number 11074735. The registered office is 167 Shirley Road, Croydon, Surrey, CR0 8SS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
LMB GROUP LTD
Notes to the Accounts
for the year ended 30 November 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 December 2022
13,203
4,395
17,598
At 30 November 2023
13,203
4,395
17,598
At 1 December 2022
7,974
3,217
11,191
Charge for the year
1,307
294
1,601
At 30 November 2023
9,281
3,511
12,792
At 30 November 2023
3,922
884
4,806
At 30 November 2022
5,229
1,178
6,407
5
Investments
Other investments
Valuation at 1 December 2022
-
Valuation at 30 November 2023
55,250
Amounts falling due within one year
Trade debtors
(1,414)
14,071
Amounts due from group undertakings etc.
1,133,638
1,605,423
Accrued income and prepayments
95,185
70,774
Other debtors
220,981
177,482
Amounts falling due after more than one year
Accrued income and prepayments
100,810
150,232
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
360,805
254,641
Trade creditors
247,396
461,670
Taxes and social security
329,240
375,486
Other creditors
184,262
142,625
Loans from directors
(611,637)
(470,578)
Deferred income
80,000
175,135
LMB GROUP LTD
Notes to the Accounts
for the year ended 30 November 2023
8
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
345,039
572,634
9
Average number of employees
During the year the average number of employees was 10 (2022: 9).