REGISTERED NUMBER: SC498134 (Scotland)

Unaudited Financial Statements

for the Year Ended 28 February 2025

for

LM ENGINEERING LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M Collins

Mrs L Collins

REGISTERED OFFICE:

Suite 4.5, Turnberry House

175 West George Street

Glasgow

G2 2LB

REGISTERED NUMBER:

SC498134 (Scotland)

ACCOUNTANTS:

SD Business Management

Suite 4.5, Turnberry House

175 West George Street

Glasgow

G2 2LB

FIXED ASSETS

Tangible assets

4

24,261

33,693

CURRENT ASSETS

Debtors

10,804

20,458

Cash at bank

98,489

100,613

109,293

121,071

CREDITORS

Amounts falling due within one year

29,199

19,219

NET CURRENT ASSETS

80,094

101,852

TOTAL ASSETS LESS CURRENT LIABILITIES

104,355

135,545

PROVISIONS FOR LIABILITIES

6,065

8,928

NET ASSETS

98,290

126,617

CAPITAL AND RESERVES

Called up share capital

12

12

Retained earnings

98,278

126,605

98,290

126,617

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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.

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 28 February 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 19 September 2025 and were signed on its behalf by:

M Collins - Director

Mrs L Collins - Director

1.	STATUTORY INFORMATION

LM Engineering Ltd 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.

In accordance with their responsibilities as directors, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 etc

-

33% on cost, 25% on reducing balance and 20% 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 March 2024

and 28 February 2025

47,845

DEPRECIATION

At 1 March 2024

14,152

Charge for year

9,432

At 28 February 2025

23,584

NET BOOK VALUE

At 28 February 2025

24,261

At 29 February 2024

33,693

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2025 and 29 February 2024:

28.2.25

29.2.24

£

£

M Collins and Mrs L Collins

Balance outstanding at start of year

12,432

-

Amounts advanced

5,829

16,799

Amounts repaid

(13,285

)

(4,367

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

4,976

12,432

No interest is charged on the outstanding loan.