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REGISTERED NUMBER: 09123246 (England and Wales)
















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: L M Cripps





REGISTERED OFFICE: 38 Salisbury Road
Worthing
West Sussex
BN11 1RD





REGISTERED NUMBER: 09123246 (England and Wales)





ACCOUNTANTS: MastersFuller
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 - 800
Tangible assets 5 59,567 81,110
59,567 81,910

CURRENT ASSETS
Stocks 500 500
Debtors 6 40,216 65,049
Cash at bank and in hand 272,449 209,716
313,165 275,265
CREDITORS
Amounts falling due within one year 7 210,189 116,288
NET CURRENT ASSETS 102,976 158,977
TOTAL ASSETS LESS CURRENT
LIABILITIES

162,543

240,887

CREDITORS
Amounts falling due after more than one
year

8

27,974

31,895
NET ASSETS 134,569 208,992

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 134,369 208,792
SHAREHOLDERS' FUNDS 134,569 208,992

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2024 in accordance with Section 476 of the Companies Act 2006.

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


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

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 15th December 2024 and were signed by:





L M Cripps - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - over the term of the lease
Plant & machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 10 (2023 - 9 ) .

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 10,000
AMORTISATION
At 1st October 2023 9,200
Amortisation for year 800
At 30th September 2024 10,000
NET BOOK VALUE
At 30th September 2024 -
At 30th September 2023 800

5. TANGIBLE FIXED ASSETS
Short Plant & Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1st October 2023 3,000 59,773 74,500 10,143 147,416
Disposals - - (4,000 ) - (4,000 )
At 30th September 2024 3,000 59,773 70,500 10,143 143,416
DEPRECIATION
At 1st October 2023 1,000 32,413 26,172 6,721 66,306
Charge for year 667 5,686 11,832 858 19,043
Eliminated on disposal - - (1,500 ) - (1,500 )
At 30th September 2024 1,667 38,099 36,504 7,579 83,849
NET BOOK VALUE
At 30th September 2024 1,333 21,674 33,996 2,564 59,567
At 30th September 2023 2,000 27,360 48,328 3,422 81,110

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 53,990
DEPRECIATION
At 1st October 2023 12,373
Charge for year 10,404
At 30th September 2024 22,777
NET BOOK VALUE
At 30th September 2024 31,213
At 30th September 2023 41,617

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 13,025 4,159
Other debtors - 492
Inter company account 27,191 27,004
Director's loan account - 33,394
40,216 65,049

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 3,921 3,921
Trade creditors 69,790 66,275
Corporation tax reserve 32,223 13,274
PAYE & NIC control 27,814 7,877
VAT 21,888 21,197
Other creditors 955 794
Directors' current accounts 798 -
Accrued expenses 52,800 2,950
210,189 116,288

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 27,974 31,895

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
£    £   
L M Cripps
Balance outstanding at start of year 33,394 9,563
Amounts advanced 46,808 81,680
Amounts repaid (81,000 ) (57,849 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (798 ) 33,394