ACCOUNTS - Final Accounts

Registered number: 06344354

LCM ASSETS LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2019


LCM ASSETS LIMITED REGISTERED NUMBER:06344354

STATEMENT OF FINANCIAL POSITION

AS AT 31 AUGUST 2019

		2019		2018
Note		£		£


Current assets
Debtors: amounts falling due after more than one year	3	77,025		77,025
Cash at bank and in hand	4	181		181
		77,206		77,206
Creditors: amounts falling due within one year	5	(3,894)		(3,894)
Net current assets			73,312		73,312
Total assets less current liabilities			73,312		73,312

Net assets			73,312		73,312

Capital and reserves
Called up share capital	1	1
Profit and loss account	73,311	73,311
	73,312	73,312

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LCM ASSETS LIMITED REGISTERED NUMBER:06344354

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 AUGUST 2019

For the year ended 31 August 2019 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

Members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

Colin Milton

Director

Date: 8 January 2020

The notes on pages 3 to 4 form part of these financial statements.

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LCM ASSETS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2019

1.	General information

LCM Assets Limited is a private company limited by shares and incorporated in England and Wales, registration number 06344354. The registered office is 24 Mayfield Road, Pinhoe, Exeter, EX4 8PR.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.2

Borrowing costs

All borrowing costs are recognised in the Income Statement in the year in which they are incurred.

2.3

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.4

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 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.

2.5

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.

Debtors

Due after more than one year
Other debtors	77,025	77,025
	77,025	77,025

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LCM ASSETS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2019

4.	Cash and cash equivalents
		2019	2018
		£	£

Cash at bank and in hand	181	181
Less: bank overdrafts	(25)	(25)
	156	156

5.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Bank overdrafts	25	25
Other creditors	3,688	3,688
Accruals and deferred income	181	181
	3,894	3,894

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