LMDB Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 05962699 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2017

FOR

LMDB LIMITED

TRADING AS

LMDB ACCOUNTANTS

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D Laws FCCA

S A Murray FCCA

S Diomedou FCA FCCA BA(Hons)

R M S Booth FCA BA(Hons)

S D Jaquet FCCA

SECRETARY:

R M S Booth FCA BA(Hons)

REGISTERED OFFICE:

Railview Lofts

19c Commercial Road

Eastbourne

East Sussex

BN21 3XE

REGISTERED NUMBER:

05962699 (England and Wales)

FIXED ASSETS

Intangible assets

4

142,000

159,750

Tangible assets

5

26,284

35,501

Investments

6

2,000

2,000

Investment property

7

173,958

169,452

344,242

366,703

CURRENT ASSETS

Debtors

8

103,912

100,453

Cash at bank and in hand

279,940

259,159

383,852

359,612

CREDITORS

Amounts falling due within one year

9

236,984

247,086

NET CURRENT ASSETS

146,868

112,526

TOTAL ASSETS LESS CURRENT LIABILITIES

491,110

479,229

CREDITORS

Amounts falling due after more than one year

10

(189,939

)

(207,965

)

PROVISIONS FOR LIABILITIES

(2,306

)

(5,862

)

NET ASSETS

298,865

265,402

CAPITAL AND RESERVES

Called up share capital

13

3,170

3,170

Retained earnings

295,695

262,232

SHAREHOLDERS' FUNDS

298,865

265,402

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 30 June 2017 and were signed on its behalf by:

S A Murray FCCA - Director

1.	STATUTORY INFORMATION

LMDB Limited is a private company, limited by shares , registered in England and Wales. 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax, except in respect of

service contracts where turnover is recognised when the company obtains the right to

consideration.

Goodwill

Goodwill is being amortised in accordance with an estimated useful life of 10 years from April 2015

following the adoption of FRS 102.

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

-

100% on cost, 20% on cost and 15% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising

from changes in fair value is recognised in profit or loss.

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.

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.

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 24 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2016

and 31 March 2017

300,000

AMORTISATION

At 1 April 2016

140,250

Charge for year

17,750

At 31 March 2017

158,000

NET BOOK VALUE

At 31 March 2017

142,000

At 31 March 2016

159,750

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2016

154,645

Additions

9,798

Disposals

(10,070

)

At 31 March 2017

154,373

DEPRECIATION

At 1 April 2016

119,144

Charge for year

19,015

Eliminated on disposal

(10,070

)

At 31 March 2017

128,089

NET BOOK VALUE

At 31 March 2017

26,284

At 31 March 2016

35,501

6.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

2017

2016

£

£

Debentures

2,000

2,000

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2016

169,452

Additions

4,506

At 31 March 2017

173,958

NET BOOK VALUE

At 31 March 2017

173,958

At 31 March 2016

169,452

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

56,571

60,657

Amounts recoverable on contract

19,449

15,808

Other debtors

27,892

23,988

103,912

100,453

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade creditors

11,150

11,399

Taxation and social security

142,338

149,945

Other creditors

83,496

85,742

236,984

247,086

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Other creditors

189,939

207,965

Included in the above is £139,939 (2016 - £147,965) which is repayable by instalments in more than

5 years.

11.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2017

2016

£

£

Within one year

39,800

39,800

Between one and five years

39,917

79,717

79,717

119,517

12.	SECURED DEBTS

The company has given a fixed and floating charge to Natwest Bank plc as security for current and

future debts to the bank.

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2017

2016

value:

£

£

500

A ordinary

£1

500

500

500

B ordinary

£1

500

500

500

C ordinary

£1

500

500

500

D ordinary

£1

500

500

620

E ordinary

£1

620

620

10

F ordinary

£1

10

10

10

G ordinary

£1

10

10

10

H ordinary

£1

10

10

10

I ordinary

£1

10

10

10

J ordinary

£1

10

10

500

K ordinary

£1

500

500

3,170

3,170

14.	ULTIMATE CONTROLLING PARTY

In the opinion of the directors there is no ultimate controlling party.

15.	FIRST YEAR ADOPTION

Following the adoption of FRS 102 the amortisation period for goodwill has been reviewed. This has

resulted in an increase to the amortisation cost recognised in the the comparative period to that

stated in the previous years financial statements of £2,750 and resultant adjustment to the current

tax recognised.

No other transitional adjustments arose from the adoption of FRS 102.