Registered number
12809791
LMO Technical Limited
Unaudited Filleted Accounts
31 October 2024
LMO Technical Limited
Registered number: 12809791
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 10,340,221 10,340,221
Current assets
Debtors 4 29,010 20,006
Cash at bank and in hand 181,240 149,669
210,250 169,675
Creditors: amounts falling due within one year 5 (150,554) (131,342)
Net current assets 59,696 38,333
Total assets less current liabilities 10,399,917 10,378,554
Creditors: amounts falling due after more than one year 6 (4,368,000) (4,368,000)
Net assets 6,031,917 6,010,554
Capital and reserves
Called up share capital 5,960,100 5,960,100
Profit and loss account 71,817 50,454
Shareholders' funds 6,031,917 6,010,554
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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.
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.
Gary Walker
Director
Approved by the board on 11 December 2024
LMO Technical Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents rents and related services rexeivable from rented residential properties owned by the company excluding value added tax.
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:
Fixtures, fittings and equipment 25% straight line basis
Investment Property
Investment property, which is property held to earn rentals and / or capital appreciation, is initially recognised at cost, which includes purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting date. The surplus or deficit on revaluation is recognised in the revaluation reserve.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 November 2023 10,340,221
At 31 October 2024 10,340,221
Depreciation
At 31 October 2024 -
Net book value
At 31 October 2024 10,340,221
At 31 October 2023 10,340,221
The land and buildings were transferred from LMO TI LLP on 31 October 2020. The members of LMO TI LLP were the same as the shareholders in LMO Technical Ltd and their proportional interests in the 2 entities were the same.
The directors are of the opinion that the investment properties valuation at 31 October 2024 is not materially different from the cost figure shown.
4 Debtors 2024 2023
£ £
Trade debtors 12,738 12,384
Other debtors 16,272 7,622
29,010 20,006
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 24,440 6,303
Taxation and social security costs 11,254 13,839
Other creditors 114,860 111,200
150,554 131,342
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,350,000 4,350,000
Other creditors 18,000 18,000
4,368,000 4,368,000
7 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 4,350,000 4,350,000
The bank loan is secured by a charge against the residential propery portfolio.
8 Other information
LMO Technical Limited is a private company limited by shares and incorporated in England. Its registered office is:
87 Firs Park Avenue
Winchmore Hill
London
N21 2PU
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