Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-012falseNo description of principal activity2falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 11030468 2023-04-01 2024-03-31 11030468 2022-04-01 2023-03-31 11030468 2024-03-31 11030468 2023-03-31 11030468 c:Director1 2023-04-01 2024-03-31 11030468 d:MotorVehicles 2023-04-01 2024-03-31 11030468 d:MotorVehicles 2024-03-31 11030468 d:MotorVehicles 2023-03-31 11030468 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11030468 d:OfficeEquipment 2023-04-01 2024-03-31 11030468 d:OfficeEquipment 2024-03-31 11030468 d:OfficeEquipment 2023-03-31 11030468 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11030468 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 11030468 d:CurrentFinancialInstruments 2024-03-31 11030468 d:CurrentFinancialInstruments 2023-03-31 11030468 d:Non-currentFinancialInstruments 2024-03-31 11030468 d:Non-currentFinancialInstruments 2023-03-31 11030468 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 11030468 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 11030468 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 11030468 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 11030468 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 11030468 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 11030468 d:ShareCapital 2024-03-31 11030468 d:ShareCapital 2023-03-31 11030468 d:RetainedEarningsAccumulatedLosses 2024-03-31 11030468 d:RetainedEarningsAccumulatedLosses 2023-03-31 11030468 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-03-31 11030468 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-03-31 11030468 c:FRS102 2023-04-01 2024-03-31 11030468 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 11030468 c:FullAccounts 2023-04-01 2024-03-31 11030468 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11030468 2 2023-04-01 2024-03-31 11030468 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 11030468









LMA CONTRACT FLOORING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
LMA CONTRACT FLOORING LIMITED
REGISTERED NUMBER: 11030468

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,009
7,353

  
6,009
7,353

Current assets
  

Stocks
 5 
125
125

Debtors: amounts falling due within one year
 6 
7,519
33,765

Cash at bank and in hand
 7 
32,867
2,364

  
40,511
36,254

Creditors: amounts falling due within one year
 8 
(20,928)
(28,289)

Net current assets
  
 
 
19,583
 
 
7,965

Total assets less current liabilities
  
25,592
15,318

Creditors: amounts falling due after more than one year
 9 
(4,374)
(7,554)

  

Net assets
  
21,218
7,764


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
21,118
7,664

  
21,218
7,764


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 11 October 2024.
Page 1

 
LMA CONTRACT FLOORING LIMITED
REGISTERED NUMBER: 11030468
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024







John McKenzie Sherlock
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
LMA CONTRACT FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

LMA Contract Flooring Ltd (company number 11030468) is a private company limited by shares, registered in England and Wales. Its registered office is 15 Fern Cresent, Congleton, England, CW12 3HF.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
LMA CONTRACT FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Reducing balance
Office equipment
-
15%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

Page 4

 
LMA CONTRACT FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Balance sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The
Page 5

 
LMA CONTRACT FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)

impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.14

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 
LMA CONTRACT FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees

2024
2023
£
£

Wages and salaries
12,000
12,013

Social security costs
400
423

12,400
12,436


The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
2
2


4.


Tangible fixed assets





Motor vehicles
Office equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
12,112
1,429
13,541


Additions
6,700
-
6,700


Disposals
(12,112)
-
(12,112)



At 31 March 2024

6,700
1,429
8,129



Depreciation


At 1 April 2023
5,522
666
6,188


Charge for the year on owned assets
1,340
114
1,454


Disposals
(5,522)
-
(5,522)



At 31 March 2024

1,340
780
2,120



Net book value



At 31 March 2024
5,360
649
6,009



At 31 March 2023
6,590
763
7,353

Page 7

 
LMA CONTRACT FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Stocks

2024
2023
£
£

Raw materials and consumables
125
125

125
125



6.


Debtors

2024
2023
£
£


Other debtors
7,519
33,765

7,519
33,765



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
32,867
2,364

32,867
2,364



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
3,300
3,300

Trade creditors
618
520

Corporation tax
14,678
17,889

Other taxation and social security
134
-

Other creditors
198
3,431

Accruals and deferred income
2,000
3,149

20,928
28,289


Page 8

 
LMA CONTRACT FLOORING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
4,374
7,554

4,374
7,554



10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
3,300
3,300


3,300
3,300

Amounts falling due 1-2 years

Bank loans
4,374
7,554


4,374
7,554



7,674
10,854



11.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
32,867
2,364




Financial assets measured at fair value through profit or loss comprise of cash at bank.

 
Page 9