LMS Thinking Limited Filleted accounts for Companies House (small and micro)

LMS THINKING LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 08409637

LMS THINKING LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 December 2018

LMS THINKING LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2018

	2018		2017
Note	£	£	£

Current assets

Debtors	4	12,867	22,047
Cash at bank and in hand		29,047	1,882
		---------	---------
		41,914	23,929

Creditors: amounts falling due within one year	5	( 9,582)		( 905)
		---------		---------
Net current assets			32,332	23,024
			---------	---------
Total assets less current liabilities			32,332	23,024
			---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	32,232	22,924
	---------	---------
Shareholders funds	32,332	23,024
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 21 August 2019 , and are signed on behalf of the board by:

T Kennedy
Director

Company registration number: 08409637

LMS THINKING LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 73a Weston Street, London, SE1 3RS.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Debtors

	2018	2017
	£	£
Other debtors	12,867	22,047
	---------	---------

5. Creditors: amounts falling due within one year

	2018	2017
	£	£
Corporation tax	3,096	–
Social security and other taxes	3,157	–
Other creditors	3,329	905
	-------	----
	9,582	905
	-------	----

6. Director's advances, credits and guarantees

No transaction with directors were undertaken as are required to be disclosed under FRS102 section 1A.

No transactions with directors were undertaken such as are required to be disclosed under FRS102 section 1A.