LMO Construction Ltd


FINANCIAL STATEMENTS


for the year ended 30th April 2024



LMO Construction Ltd

CONTENTS

for the year ended 30th April 2024







The Accounts are comprised of the following:

Statement of Financial Position

Notes to the Accounts



Please note that the Accounts comprise of HTML and iXBRL source code and that this is a printed or visual representation of that source code some of which will not be displayed or printed.

LMO Construction Ltd

Company No. 10724491

STATEMENT OF FINANCIAL POSITION

as at 30th April 2024

20242023
Note£££
FIXED ASSETS
Property, plant and equipment4562065307382
562065307382
CURRENT ASSETS
Debtors52115237809343
Cash at bank and in hand5431741276826
26584112086169
CURRENT LIABILITIES
Creditors: amounts falling due
within one year616665281096423
NET CURRENT ASSETS991883989746
TOTAL ASSETS LESS CURRENT LIABILITIES15539481297128
 
Creditors: amounts falling due
after more than one year71363556252
 
Provisions for liabilities and charges
Deferred taxation52545254
 
NET ASSETS15350591235622
 
CAPITAL AND RESERVES
Called up share capital5000050000
Retained earnings14850591185622
SHAREHOLDERS FUNDS15350591235622

The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies which are subject to the small companies' regime. The Income Statement has not been delivered to the Registrar of Companies.

For the year ended 30th April 2024 the Company is entitled to the exemption from the requirement to obtain an audit conferred by section 477 of the Companies Act 2006 and the members have not required the company to obtain an audit in accordance with section 476 of the Act.

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

Approved by the Board on 2 December 2024


L M O'Shea

Director

Company Number 10724491 (England)

LMO Construction Ltd

NOTES TO THE ACCOUNTS

for the year ended 30th April 2024


1   Statutory information

LMO Construction Ltd is a private company limited by shares and registered under company number 10724491 in England. Its registered office address is 12 Hatherley Road, Sidcup, Kent, DA14 4DT.

These financial statements are presented in Sterling, which is the functional currency of the company.

2   Accounting policies

Basis of preparation of financial statements

The accounts have been prepared under the historical cost convention in accordance with the accounting policies set out below, and in accordance with Financial Reporting Standard 102 Section 1A and the Companies Act 2006.

Income Recognition

Revenue is measured at the fair value of the consideration received or receivable. Turnover is shown net of value added tax, returns, rebates and discounts. Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is possible that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.

Depreciation

Depreciation is provided on all property, plant and equipment, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Plant, machinery and vehicles15% reducing balance

Leasing

Assets, obtained under hire purchase contracts and finance leases, are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

Taxation

Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Leasing and hire purchase commitments

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the Company, are capitalised in the Statement of Financial Position and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the Statement of Financial Position as a liability.

The interest element of the rental obligations is charged to the Income Statement over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

3   Employee information

The average number of employees during the accounting period was 4 (2023 - 2).

4   Property, plant and equipment
 
PlantFixtures
Motorandand
VehiclesMachineryFittingsTotal
££££
Cost
At 1st May 2023 827832859063837372526
Additions-3033406259309599
Disposals(18252)--(18252)
At 30th April 20246453158924610096663873
 
Depreciation
At 1st May 2023 4048622949170965144
Charge for year1613336977180654916
On disposals(18252)--(18252)
At 30th April 202438367599263515101808
 
Net Book Value
At 30th April 2024261645293206581562065
At 30th April 2023422972629572128307382
 
Net book value of assets included above held
 under finance leases and hire purchase contracts
 
At 30th April 202425067--25067
At 30th April 202333422--33422

5   Debtors20242023
££
 
Trade Debtors1759729707417
Other debtors340090101926
Prepayments and accrued income15418-
2115237809343

6   Creditors: amounts falling due within one year20242023
££
 
Loans and Overdrafts3541752417
Obligations under finance lease and hire purchase contracts4092640926
Trade Creditors1250453695368
Corporation tax7333854994
Taxes and social security costs20966550721
Other creditors56729201997
16665281096423

7   Creditors: amounts falling due after one year20242023
££
 
Obligations under finance lease and hire purchase contracts1363556252
1363556252

8   Transactions with Directors

There were no transactions with Directors except as reflected in the Director's loan account for each Director. The closing balances of each account are as detailed below. Credit balances are shown without brackets. These balances are included in the figure for "Creditors and Accruals" in the accounts. Overdrawn balances are included in the figure for "Other Debtors".

20242023
££
 
L M O'Shea5672946661
5672946661

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