Lmcl Enterprises Ltd. - Accounts to registrar - small 17.2

REGISTERED NUMBER: SC368725 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Lmcl Enterprises Ltd.

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Ms L E Mitchell

REGISTERED OFFICE:

Platinum House

23 Eagle Street

Glasgow

G4 9XA

REGISTERED NUMBER:

SC368725 (Scotland)

ACCOUNTANTS:

Lamont Blair Chartered Accountants

1A Berwick Drive

Rutherglen

South Lanarkshire

G73 3JP

FIXED ASSETS

Tangible assets

4

1,668

2,224

CURRENT ASSETS

Debtors

1,128

3,099

Cash at bank

-

501

1,128

3,600

CREDITORS

Amounts falling due within one year

4,068

5,528

NET CURRENT LIABILITIES

(2,940

)

(1,928

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(1,272

)

296

PROVISIONS FOR LIABILITIES

333

295

NET (LIABILITIES)/ASSETS

(1,605

)

1

CAPITAL AND RESERVES

Called up share capital

3

1

Retained earnings

(1,608

)

-

SHAREHOLDERS' FUNDS

(1,605

)

1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2016 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 director on 7 September 2017 and were signed by:

Ms L E Mitchell - Director

1.	STATUTORY INFORMATION

Lmcl Enterprises 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The company has transitioned to FRS 102 from previously extant United Kingdom Generally Accepted

Accounting Practice as at 1st January 2016. The reported financial position and financial performance for the

previous year are not affected by the transition to FRS 102

During the year to 31st December 2016 the company incurred a loss of £1,608 and had net liabilities of £1,605.

The director has agreed to support the company for the foreseeable future and will not ask for the repayment of

any loans until the company has sufficient funds.

Based on this the accounts are prepared as a going concern.

Significant judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other factors,

including expectations of future events that are believed to be reasonable under the circumstances. Although

these estimates are based on management's best knowledge of the amount, events or actions, actual results

ultimately may differ from those estimates

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.

Fixtures and fittings

-

25% 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.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash and deposits with financial institutions repayable without penalty on notice of not

more than twenty four hours. Cash equivalents are highly liquid investments that mature in no more than three

months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant

risk of change in value.

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are

measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using

the effective interest method.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2016

and 31 December 2016

5,307

DEPRECIATION

At 1 January 2016

3,083

Charge for year

556

At 31 December 2016

3,639

NET BOOK VALUE

At 31 December 2016

1,668

At 31 December 2015

2,224

5.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2016 and

31 December 2015:

2016

2015

£

£

Ms L E Mitchell

Balance outstanding at start of year

2,699

-

Amounts advanced

5,959

2,699

Amounts repaid

(8,040

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

618

2,699

6.	ULTIMATE CONTROLLING PARTY

The controlling party is Ms L E Mitchell.