Registration number:
L.M. Building Solutions (UK) Ltd
for the Year Ended 5 April 2024
L.M. Building Solutions (UK) Ltd
Contents
Company Information |
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Directors' Report |
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Accountants' Report |
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Profit and Loss Account |
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Balance Sheet |
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Statement of Changes in Equity |
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Notes to the Unaudited Financial Statements |
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iXBRL Detailed Profit and Loss Account |
L.M. Building Solutions (UK) Ltd
Company Information
Directors |
Mr Maurizio Longhitano Mrs Jill Linda Longhitano |
Registered office |
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Accountants |
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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:
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
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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.
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Chartered Accountants
2 Yarmouth Road
Hales
Norfolk
NR14 6SP
L.M. Building Solutions (UK) Ltd
Profit and Loss Account for the Year Ended 5 April 2024
Note |
2024 |
2023 |
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Turnover |
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Gross profit |
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Administrative expenses |
( |
( |
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Operating profit |
9,035 |
4,160 |
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Interest payable and similar expenses |
( |
( |
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Profit before tax |
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Tax on profit |
( |
( |
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Profit for the financial year |
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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 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
2 |
2 |
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Retained earnings |
5,509 |
192 |
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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:
• |
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• |
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
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L.M. Building Solutions (UK) Ltd
Statement of Changes in Equity for the Year Ended 5 April 2024
Share capital |
Retained earnings |
Total |
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At 6 April 2023 |
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|
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Profit for the year |
- |
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Dividends |
- |
( |
( |
At 5 April 2024 |
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|
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Share capital |
Retained earnings |
Total |
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At 6 April 2022 |
|
|
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Profit for the year |
- |
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Dividends |
- |
( |
( |
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
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Profit before tax |
Arrived at after charging/(crediting)
2024 |
2023 |
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Depreciation expense |
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L.M. Building Solutions (UK) Ltd
Notes to the Unaudited Financial Statements for the Year Ended 5 April 2024
Tangible assets |
Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 6 April 2023 |
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Additions |
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- |
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At 5 April 2024 |
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Depreciation |
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At 6 April 2023 |
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Charge for the year |
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At 5 April 2024 |
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Carrying amount |
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At 5 April 2024 |
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At 5 April 2023 |
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Debtors |
Current |
2024 |
2023 |
Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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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 |
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No. |
£ |
No. |
£ |
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2 |
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2 |
Dividends |
2024 |
2023 |
|||
£ |
£ |
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Interim dividend of £ |
2,000 |
5,500 |
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Related party transactions |
Directors' remuneration
The directors' remuneration for the year was as follows:
2024 |
2023 |
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Remuneration |
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L.M. Building Solutions (UK) Ltd
iXBRL Detailed Profit and Loss Account for the Year Ended 5 April 2024
2024 |
2023 |
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Sale of goods, UK |
51,298 |
53,303 |
Interest received |
14 |
6 |
Turnover/revenue |
|
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Cost of sales |
||
Distribution costs |
||
Administrative expenses |
||
Audit and accountancy other services |
( |
( |
Rent, rates and services costs |
( |
( |
Other repairs and maintenance costs |
( |
( |
Cleaning costs |
( |
( |
Depreciation of property, plant and equipment |
( |
( |
Vehicle costs |
( |
( |
Other staff costs excluding directors |
( |
( |
Salaries and fees, directors |
( |
( |
Bank charges |
( |
( |
Insurance costs |
( |
( |
Other operating income |
||
Other items |
||
Loss from disposal of property, plant and equipment |
- |
( |
Profit on ordinary activities before finance charges and interest |
9,035 |
4,160 |
Interest expense on bank overdraft, bank loans and similar borrowings |
( |
( |
Profit on ordinary activities before taxation |
|
|
Tax on profit or loss on ordinary activities |
( |
( |
Profit for the financial year |
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