2023-01-012023-12-312023-12-31false10876834LM DIRECT RECRUITMENT SERVICES 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LM DIRECT RECRUITMENT SERVICES LIMITED

Registered Number
10876834
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2023

LM DIRECT RECRUITMENT SERVICES LIMITED
Company Information
for the year from 1 January 2023 to 31 December 2023

Director

JOHNSON, Callum Thomas

Registered Address

179-181 Shirley Road
Southampton
SO15 3FG

Registered Number

10876834 (England and Wales)
LM DIRECT RECRUITMENT SERVICES LIMITED
Statement of Financial Position
31 December 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets33,5254,425
3,5254,425
Current assets
Debtors4588,971501,207
Cash at bank and on hand80,83421,361
669,805522,568
Creditors amounts falling due within one year5(882,147)(507,589)
Net current assets (liabilities)(212,342)14,979
Total assets less current liabilities(208,817)19,404
Net assets(208,817)19,404
Capital and reserves
Called up share capital1,0001,000
Profit and loss account(209,817)18,404
Shareholders' funds(208,817)19,404
The financial statements were approved and authorised for issue by the Director on 27 August 2024, and are signed on its behalf by:
JOHNSON, Callum Thomas
Director
Registered Company No. 10876834
LM DIRECT RECRUITMENT SERVICES LIMITED
Notes to the Financial Statements
for the year ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The address of the registered office is 179-181 Shirley Road, Southampton, England, SO15 3FG
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 rendering of services
Revenue 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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
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.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.
2.Average number of employees

20232022
Average number of employees during the year7083
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 January 239,0009,000
At 31 December 239,0009,000
Depreciation and impairment
At 01 January 234,5754,575
Charge for year900900
At 31 December 235,4755,475
Net book value
At 31 December 233,5253,525
At 31 December 224,4254,425
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables393,626242,443
Other debtors195,345258,764
Total588,971501,207
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables67,146-
Taxation and social security76,40858,503
Other creditors738,593449,086
Total882,147507,589