L.M. Building Solutions (UK) Ltd 07920212 false 2023-04-06 2024-04-05 2024-04-05 The principal activity of the company is construction Digita Accounts Production Advanced 6.30.9574.0 true true 07920212 2023-04-06 2024-04-05 07920212 2024-04-05 07920212 bus:OrdinaryShareClass1 2024-04-05 07920212 core:RetainedEarningsAccumulatedLosses 2024-04-05 07920212 core:ShareCapital 2024-04-05 07920212 core:CurrentFinancialInstruments 2024-04-05 07920212 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-05 07920212 core:FurnitureFittingsToolsEquipment 2024-04-05 07920212 core:MotorVehicles 2024-04-05 07920212 bus:SmallEntities 2023-04-06 2024-04-05 07920212 bus:AuditExemptWithAccountantsReport 2023-04-06 2024-04-05 07920212 bus:FullAccounts 2023-04-06 2024-04-05 07920212 bus:SmallCompaniesRegimeForAccounts 2023-04-06 2024-04-05 07920212 bus:RegisteredOffice 2023-04-06 2024-04-05 07920212 bus:Director1 2023-04-06 2024-04-05 07920212 bus:Director2 2023-04-06 2024-04-05 07920212 bus:OrdinaryShareClass1 2023-04-06 2024-04-05 07920212 bus:PrivateLimitedCompanyLtd 2023-04-06 2024-04-05 07920212 bus:Agent1 2023-04-06 2024-04-05 07920212 core:RetainedEarningsAccumulatedLosses 2023-04-06 2024-04-05 07920212 core:ShareCapital 2023-04-06 2024-04-05 07920212 core:FurnitureFittingsToolsEquipment 2023-04-06 2024-04-05 07920212 core:MotorVehicles 2023-04-06 2024-04-05 07920212 countries:England 2023-04-06 2024-04-05 07920212 dpl:AdministrativeExpenses 2023-04-06 2024-04-05 07920212 2023-04-05 07920212 core:RetainedEarningsAccumulatedLosses 2023-04-05 07920212 core:ShareCapital 2023-04-05 07920212 core:FurnitureFittingsToolsEquipment 2023-04-05 07920212 core:MotorVehicles 2023-04-05 07920212 2022-04-06 2023-04-05 07920212 2023-04-05 07920212 bus:OrdinaryShareClass1 2023-04-05 07920212 core:CurrentFinancialInstruments 2023-04-05 07920212 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-05 07920212 core:FurnitureFittingsToolsEquipment 2023-04-05 07920212 core:MotorVehicles 2023-04-05 07920212 core:RetainedEarningsAccumulatedLosses 2022-04-06 2023-04-05 07920212 core:ShareCapital 2022-04-06 2023-04-05 07920212 dpl:AdministrativeExpenses 2022-04-06 2023-04-05 07920212 2022-04-05 07920212 core:RetainedEarningsAccumulatedLosses 2022-04-05 07920212 core:ShareCapital 2022-04-05 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07920212

L.M. Building Solutions (UK) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 5 April 2024

 

L.M. Building Solutions (UK) Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 11

iXBRL Detailed Profit and Loss Account

12

 

L.M. Building Solutions (UK) Ltd

Company Information

Directors

Mr Maurizio Longhitano

Mrs Jill Linda Longhitano

Registered office

30 Orchard Valley
Holton
Halesworth
Suffolk
IP19 8LX

Accountants

Headspace Accountancy Ltd
Chartered Accountants
Deep Well House
2 Yarmouth Road
Hales
Norfolk
NR14 6SP

 

L.M. Building Solutions (UK) Ltd

Directors' Report for the Year Ended 5 April 2024

The directors present their report and the financial statements for the year ended 5 April 2024.

Directors of the company

The directors who held office during the year were as follows:

Mr Maurizio Longhitano

Mrs Jill Linda Longhitano

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 27 November 2024 and signed on its behalf by:
 

.........................................
Mr Maurizio Longhitano
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
L.M. Building Solutions (UK) Ltd
for the Year Ended 5 April 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of L.M. Building Solutions (UK) Ltd for the year ended 5 April 2024 as set out on pages 4 to 11 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of L.M. Building Solutions (UK) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of L.M. Building Solutions (UK) Ltd and state those matters that we have agreed to state to the Board of Directors of L.M. Building Solutions (UK) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than L.M. Building Solutions (UK) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that L.M. Building Solutions (UK) 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 L.M. Building Solutions (UK) Ltd. You consider that L.M. Building Solutions (UK) 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 L.M. Building Solutions (UK) 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.

......................................

Headspace Accountancy Ltd
Chartered Accountants
Deep Well House
2 Yarmouth Road
Hales
Norfolk
NR14 6SP

27 November 2024

 

L.M. Building Solutions (UK) Ltd

Profit and Loss Account for the Year Ended 5 April 2024

Note

2024
£

2023
£

Turnover

 

51,312

53,309

Gross profit

 

51,312

53,309

Administrative expenses

 

(42,277)

(49,149)

Operating profit

 

9,035

4,160

Interest payable and similar expenses

 

(2)

(254)

Profit before tax

4

9,033

3,906

Tax on profit

 

(1,716)

(458)

Profit for the financial year

 

7,317

3,448

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

L.M. Building Solutions (UK) Ltd

(Registration number: 07920212)
Balance Sheet as at 5 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

8,534

9,667

Current assets

 

Debtors

6

11,459

11,858

Cash at bank and in hand

 

2,709

1,554

 

14,168

13,412

Creditors: Amounts falling due within one year

7

(15,570)

(21,048)

Net current liabilities

 

(1,402)

(7,636)

Total assets less current liabilities

 

7,132

2,031

Provisions for liabilities

(1,621)

(1,837)

Net assets

 

5,511

194

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

5,509

192

Shareholders' funds

 

5,511

194

For the financial year ending 5 April 2024 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.

Approved and authorised by the Board on 27 November 2024 and signed on its behalf by:
 

.........................................
Mrs Jill Linda Longhitano
Director

 

L.M. Building Solutions (UK) Ltd

Statement of Changes in Equity for the Year Ended 5 April 2024

Share capital
£

Retained earnings
£

Total
£

At 6 April 2023

2

192

194

Profit for the year

-

7,317

7,317

Dividends

-

(2,000)

(2,000)

At 5 April 2024

2

5,509

5,511

Share capital
£

Retained earnings
£

Total
£

At 6 April 2022

2

2,244

2,246

Profit for the year

-

3,448

3,448

Dividends

-

(5,500)

(5,500)

At 5 April 2023

2

192

194

 

L.M. Building Solutions (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

1

General information

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

The address of its registered office is:
30 Orchard Valley
Holton
Halesworth
Suffolk
IP19 8LX

These financial statements were authorised for issue by the Board on 27 November 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 Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

L.M. Building Solutions (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

20% reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

L.M. Building Solutions (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

2,133

2,417

 

L.M. Building Solutions (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 6 April 2023

4,922

11,456

16,378

Additions

1,000

-

1,000

At 5 April 2024

5,922

11,456

17,378

Depreciation

At 6 April 2023

1,900

4,811

6,711

Charge for the year

804

1,329

2,133

At 5 April 2024

2,704

6,140

8,844

Carrying amount

At 5 April 2024

3,218

5,316

8,534

At 5 April 2023

3,022

6,645

9,667

6

Debtors

Current

2024
£

2023
£

Other debtors

11,459

11,858

 

11,459

11,858

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

1,932

2,357

Accruals and deferred income

876

840

Other creditors

12,762

17,851

15,570

21,048

8

Share capital

Allotted, called up and fully paid shares

 

L.M. Building Solutions (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

9

Dividends

2024

2023

£

£

Interim dividend of £1,000.00 (2023 - £2,750.00) per ordinary share

2,000

5,500

 

 

10

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

18,192

18,192

 

L.M. Building Solutions (UK) Ltd

iXBRL Detailed Profit and Loss Account for the Year Ended 5 April 2024

2024
£

2023
£

Sale of goods, UK

51,298

53,303

Interest received

14

6

Turnover/revenue

51,312

53,309

Cost of sales

Distribution costs

Administrative expenses

Audit and accountancy other services

(876)

(840)

Rent, rates and services costs

(12,195)

(10,645)

Other repairs and maintenance costs

(3,127)

(4,606)

Cleaning costs

(60)

(60)

Depreciation of property, plant and equipment

(2,133)

(2,417)

Vehicle costs

(4,080)

(4,992)

Other staff costs excluding directors

(1,000)

(1,000)

Salaries and fees, directors

(18,192)

(18,192)

Bank charges

(90)

(90)

Insurance costs

(524)

(926)

Other operating income

Other items

Loss from disposal of property, plant and equipment

-

(5,381)

Profit on ordinary activities before finance charges and interest

9,035

4,160

Interest expense on bank overdraft, bank loans and similar borrowings

(2)

(254)

Profit on ordinary activities before taxation

9,033

3,906

Tax on profit or loss on ordinary activities

(1,716)

(458)

Profit for the financial year

7,317

3,448