Acorah Software Products - Accounts Production 16.1.300 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 12753052 Mr Luke Marchbanks true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12753052 2023-12-31 12753052 2024-12-31 12753052 2024-01-01 2024-12-31 12753052 frs-core:CurrentFinancialInstruments 2024-12-31 12753052 frs-core:PlantMachinery 2024-12-31 12753052 frs-core:PlantMachinery 2024-01-01 2024-12-31 12753052 frs-core:PlantMachinery 2023-12-31 12753052 frs-core:ShareCapital 2024-12-31 12753052 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 12753052 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 12753052 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 12753052 frs-bus:SmallEntities 2024-01-01 2024-12-31 12753052 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 12753052 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 12753052 1 2024-01-01 2024-12-31 12753052 frs-bus:Director1 2024-01-01 2024-12-31 12753052 frs-countries:EnglandWales 2024-01-01 2024-12-31 12753052 2022-12-31 12753052 2023-12-31 12753052 2023-01-01 2023-12-31 12753052 frs-core:CurrentFinancialInstruments 2023-12-31 12753052 frs-core:ShareCapital 2023-12-31 12753052 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 12753052
LRM Retail Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12753052
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 507
- 507
CURRENT ASSETS
Stocks 284,179 277,220
Debtors 5 127,672 690,694
Cash at bank and in hand 282,208 430,716
694,059 1,398,630
Creditors: Amounts Falling Due Within One Year 6 (592,135 ) (1,299,027 )
NET CURRENT ASSETS (LIABILITIES) 101,924 99,603
TOTAL ASSETS LESS CURRENT LIABILITIES 101,924 100,110
NET ASSETS 101,924 100,110
CAPITAL AND RESERVES
Called up share capital 1 1
Profit and Loss Account 101,923 100,109
SHAREHOLDERS' FUNDS 101,924 100,110
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Luke Marchbanks
Director
12 March 2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
LRM Retail Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 12753052 . The registered office is 79 Boundary Lane, St Leonards, Ringwood, BH24 2SF.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
These financial statements are presented in pound sterling which is the functional currency of the company.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 3 years straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Financial Instruments
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially measured at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. 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 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. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. 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.
...CONTINUED
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2.6. Taxation - continued
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. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 80 (2023: 77)
80 77
4. Tangible Assets
Plant & Machinery
£
Cost
As at 1 January 2024 2,932
As at 31 December 2024 2,932
Depreciation
As at 1 January 2024 2,425
Provided during the period 507
As at 31 December 2024 2,932
Net Book Value
As at 31 December 2024 -
As at 1 January 2024 507
5. Debtors
2024 2023
£ £
Due within one year
Other debtors 127,672 690,694
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 302,494 971,482
Other taxes and social security 131,213 145,895
Other creditors 4,028 -
Accruals and deferred income 1,900 1,650
Amounts owed to group undertakings 152,500 180,000
592,135 1,299,027
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7. Ultimate Controlling Party
The ultimate parent company is LRM Group Holdings Ltd by virtue of it's ownership of 100% of the issued share capital in the company. It's registered office is 79 Boundary Lane, St.Leonards, Ringwood, Dorset, BH24 2SF.
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