LM IT Services Limited - Period Ending 2016-05-31

Ordinary of £1 each

LM IT SERVICES LIMITED - Company Information

Print Friendly Version

Registration number: 09597451

LM IT Services Limited

Unaudited Abbreviated Accounts

for the Period from 19 May 2015 to 31 May 2016

Clever Accounts Limited
Carrwood Park
Selby Road
Leeds
West Yorkshire
LS15 4LG

LM IT Services Limited
Contents

Abbreviated Balance Sheet

Notes to the Abbreviated Accounts

2 to 3

LM IT Services Limited
(Registration number: 09597451)
Abbreviated Balance Sheet at 31 May 2016

	Note	31 May 2016 £
Fixed assets
Tangible fixed assets		1,308
Current assets
Debtors		8,640
Cash at bank and in hand		19,506
		28,146
Creditors: Amounts falling due within one year		(24,253)
Net current assets		3,893
Net assets		5,201
Capital and reserves
Called up share capital	3	100
Profit and loss account		5,101
Shareholders' funds		5,201

For the year ending 31 May 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 8 February 2017

dl.signhere.2
.........................................
Mr Levent Mehmet
Director

The notes on pages 2 to 3 form an integral part of these financial statements.
Page 1

LM IT Services Limited
Notes to the Abbreviated Accounts for the Period from 19 May 2015 to 31 May 2016
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
IT Equipment	33% Straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

	Tangible assets £	Total £
Cost
Additions	1,952	1,952
At 31 May 2016	1,952	1,952
Depreciation
Charge for the period	644	644
At 31 May 2016	644	644
Net book value
At 31 May 2016	1,308	1,308

Page 2

LM IT Services Limited
Notes to the Abbreviated Accounts for the Period from 19 May 2015 to 31 May 2016
......... continued

3	Share capital

Allotted, called up and fully paid shares

Page 3