LMS Experts Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04805947 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2020

for

LMS Experts Ltd

Page

Balance Sheet

1

Notes to the Financial Statements

2

CURRENT ASSETS

Stocks

230,698

145,845

Debtors

6

759,725

1,160,837

Cash at bank

9,085

119,313

999,508

1,425,995

CREDITORS

Amounts falling due within one year

7

(1,050,147

)

(1,483,739

)

NET CURRENT LIABILITIES

(50,639

)

(57,744

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(50,639

)

(57,744

)

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

(50,839

)

(57,944

)

SHAREHOLDERS' FUNDS

(50,639

)

(57,744

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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

The financial statements were approved by the director and authorised for issue on 29 June 2021 and were signed by:

Mr C A Jones - Director

1.	STATUTORY INFORMATION

LMS Experts Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

04805947

Registered office:

St Georges Chambers

St Georges Place

Macclesfield

Cheshire

SK11 8BT

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 recognised when the company obtains the right to consideration.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

33% on cost

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.

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 8 (2019 - 10 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

Goodwill

software

Totals

£

£

£

COST

At 1 October 2019

and 30 September 2020

775,663

13,340

789,003

AMORTISATION

At 1 October 2019

and 30 September 2020

775,663

13,340

789,003

NET BOOK VALUE

At 30 September 2020

-

-

-

At 30 September 2019

-

-

-

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 October 2019

and 30 September 2020

1,763

DEPRECIATION

At 1 October 2019

and 30 September 2020

1,763

NET BOOK VALUE

At 30 September 2020

-

At 30 September 2019

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Amounts owed by group undertakings

75,000

-

Other debtors

684,725

1,160,837

759,725

1,160,837

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Trade creditors

849,719

1,150,593

Taxation and social security

52,984

29,077

Other creditors

147,444

304,069

1,050,147

1,483,739