REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th September 2024 |
for |
LMC AUTO SERVICES (SUSSEX) LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 30th September 2024 |
for |
LMC AUTO SERVICES (SUSSEX) LIMITED |
LMC AUTO SERVICES (SUSSEX) LIMITED (REGISTERED NUMBER: 09123246) |
Contents of the Financial Statements |
for the Year Ended 30th September 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
LMC AUTO SERVICES (SUSSEX) LIMITED |
Company Information |
for the Year Ended 30th September 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
38 Salisbury Road |
Worthing |
West Sussex |
BN11 1RD |
LMC AUTO SERVICES (SUSSEX) LIMITED (REGISTERED NUMBER: 09123246) |
Balance Sheet |
30th September 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
LMC AUTO SERVICES (SUSSEX) LIMITED (REGISTERED NUMBER: 09123246) |
Balance Sheet - continued |
30th September 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
LMC AUTO SERVICES (SUSSEX) LIMITED (REGISTERED NUMBER: 09123246) |
Notes to the Financial Statements |
for the Year Ended 30th September 2024 |
1. | STATUTORY INFORMATION |
LMC Auto Services (Sussex) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Short leasehold | - |
Plant & machinery | - |
Motor vehicles | - |
Computer equipment | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
LMC AUTO SERVICES (SUSSEX) LIMITED (REGISTERED NUMBER: 09123246) |
Notes to the Financial Statements - continued |
for the Year Ended 30th September 2024 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st October 2023 |
and 30th September 2024 |
AMORTISATION |
At 1st October 2023 |
Amortisation for year |
At 30th September 2024 |
NET BOOK VALUE |
At 30th September 2024 |
At 30th September 2023 |
5. | TANGIBLE FIXED ASSETS |
Short | Plant & | Motor | Computer |
leasehold | machinery | vehicles | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1st October 2023 |
Disposals | ( |
) | ( |
) |
At 30th September 2024 |
DEPRECIATION |
At 1st October 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 30th September 2024 |
NET BOOK VALUE |
At 30th September 2024 |
At 30th September 2023 |
LMC AUTO SERVICES (SUSSEX) LIMITED (REGISTERED NUMBER: 09123246) |
Notes to the Financial Statements - continued |
for the Year Ended 30th September 2024 |
5. | TANGIBLE FIXED ASSETS - continued |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Motor |
vehicles |
£ |
COST |
At 1st October 2023 |
and 30th September 2024 |
DEPRECIATION |
At 1st October 2023 |
Charge for year |
At 30th September 2024 |
NET BOOK VALUE |
At 30th September 2024 |
At 30th September 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
Inter company account | 27,191 | 27,004 |
Director's loan account | - | 33,394 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |
Trade creditors |
Corporation tax reserve |
PAYE & NIC control |
VAT | 21,888 | 21,197 |
Other creditors |
Directors' current accounts | 798 | - |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Hire purchase contracts |
LMC AUTO SERVICES (SUSSEX) LIMITED (REGISTERED NUMBER: 09123246) |
Notes to the Financial Statements - continued |
for the Year Ended 30th September 2024 |
9. | OTHER FINANCIAL COMMITMENTS |
The company had financial commitments not included in the financial statements which amount to £72,000 (2023 £108,000). |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 30th September 2024 and 30th September 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |