Registered number
04525497
LM Electrics (Southern) Ltd
Filleted Accounts
31 March 2025
LM Electrics (Southern) Ltd
Registered number: 04525497
Balance Sheet
as at 31 March 2025
Notes 2025 2023
£ £
Fixed assets
Tangible assets 3 - 173
Current assets
Debtors 4 4,680 1,391
Cash at bank and in hand 1,521 1,344
6,201 2,735
Creditors: amounts falling due within one year 5 (4,184) (2,614)
Net current assets 2,017 121
Net assets 2,017 294
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,917 194
Shareholder's funds 2,017 294
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Luke McGuire
Director
Approved by the board on 10 June 2025
LM Electrics (Southern) Ltd
Notes to the Accounts
for the period from 1 October 2023 to 31 March 2025
1 Accounting policies
Basis of preparation
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – The Financial Reporting Standard applicable in the UK and Republic of Ireland applicable to small entities.

The financial statements have not been prepared on a going concern basis. The director has taken the decision to cease trading and wind down the company’s operations. As a result, the financial statements have been prepared on a break-up basis, under which assets are stated at their net realisable value and liabilities include all expected costs of closure.
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 and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, 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 and machinery
Motor Vehicles 25% Reducing balance
Debtors
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 recognised 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.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2025 2023
Number Number
Average number of persons employed by the company 1 1
including directors
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2023 5,184 17,232 22,416
Disposals (5,184) (17,232) (22,416)
At 31 March 2025 - - -
Depreciation
At 1 October 2023 5,184 17,059 22,243
On disposals (5,184) (17,059) (22,243)
At 31 March 2025 - - -
Net book value
At 31 March 2025 - - -
At 30 September 2023 - 173 173
4 Debtors 2025 2023
£ £
Trade debtors 286 -
Other debtors 4,394 1,391
4,680 1,391
5 Creditors: amounts falling due within one year 2025 2023
£ £
Trade creditors - 231
Taxation and social security costs 3,304 1,905
Other creditors 880 478
4,184 2,614
6 Events after the reporting date
Subsequent to the balance sheet date, the company has taken steps to wind up its affairs, including:

The disposal of remaining assets.
The settlement of outstanding liabilities.
Initiation of the process to apply for voluntary strike-off from the Companies Register.

These actions confirm the company’s intention to permanently cease trading.
7 Related party transactions
During the period, certain fixed assets with a net book value of £173 were transferred to the director for consideration of £1,500, reflecting their estimated market value. The transaction was conducted at arm’s length.
8 Other information
LM Electrics (Southern) Ltd is a private company limited by shares and incorporated in England. Its registered office is:
44 Reginald Road
Southsea
Portsmouth
Hampshire
PO4 9HW
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