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REGISTERED NUMBER: SC445485 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2025

for

LMI Enterprises Limited

LMI Enterprises Limited (Registered number: SC445485)






Contents of the Financial Statements
for the Year Ended 31 March 2025




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


LMI Enterprises Limited

Company Information
for the Year Ended 31 March 2025







DIRECTORS: L M Inkster
Mrs C Inkster





SECRETARY:





REGISTERED OFFICE: 1 Nort Greenhoulls
Brae
Shetland
ZE2 9UA





REGISTERED NUMBER: SC445485 (Scotland)





ACCOUNTANTS: Jim Clark Accountancy Ltd
6 West Hillcrest
Upper Sound
Lerwick
Shetland
ZE1 0JZ

LMI Enterprises Limited (Registered number: SC445485)

Abridged Balance Sheet
31 March 2025

31.3.25 31.3.24
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 202,300 216,750
Tangible assets 5 16,296 21,729
218,596 238,479

CURRENT ASSETS
Debtors 13,699 11,091
Cash at bank 32,154 45,720
45,853 56,811
CREDITORS
Amounts falling due within one year 343,519 344,272
NET CURRENT LIABILITIES (297,666 ) (287,461 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(79,070

)

(48,982

)

PROVISIONS FOR LIABILITIES 3,096 4,129
NET LIABILITIES (82,166 ) (53,111 )

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings (82,176 ) (53,121 )
SHAREHOLDERS' FUNDS (82,166 ) (53,111 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

LMI Enterprises Limited (Registered number: SC445485)

Abridged Balance Sheet - continued
31 March 2025


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 May 2025 and were signed on its behalf by:





L M Inkster - Director


LMI Enterprises Limited (Registered number: SC445485)

Notes to the Financial Statements
for the Year Ended 31 March 2025

1. STATUTORY INFORMATION

LMI Enterprises Limited is a private company, limited by shares , registered in Scotland. 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.

Quota
Fish quota purchased in 2019 is being amortised evenly over its estimated useful life of twenty years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 1 (2024 - 1 ) .

LMI Enterprises Limited (Registered number: SC445485)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2025

4. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2024
and 31 March 2025 289,000
AMORTISATION
At 1 April 2024 72,250
Amortisation for year 14,450
At 31 March 2025 86,700
NET BOOK VALUE

At 31 March 2025 202,300
At 31 March 2024 216,750

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 April 2024
and 31 March 2025 37,694 2,321 40,015
DEPRECIATION
At 1 April 2024 16,491 1,795 18,286
Charge for year 5,301 132 5,433
At 31 March 2025 21,792 1,927 23,719
NET BOOK VALUE
At 31 March 2025 15,902 394 16,296
At 31 March 2024 21,203 526 21,729