LMG Systems Limited
Unaudited Financial Statements
For the year ended 31 December 2021
For Filing with Registrar
Company Registration No. 02155746 (England and Wales)
LMG Systems Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 3
LMG Systems Limited
Balance Sheet
As at 31 December 2021
Page 1
2021
2020
Notes
£
£
£
£
Current assets
Debtors
2
50,632
50,632
Net current assets
50,632
50,632
Capital and reserves
Called up share capital
3
48,090
48,090
Share premium account
479
479
Capital redemption reserve
2,063
2,063
Total equity
50,632
50,632
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 December 2021 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 24 June 2022 and are signed on its behalf by:
M A Hook
Director
Company Registration No. 02155746
LMG Systems Limited
Notes to the Financial Statements
For the year ended 31 December 2021
Page 2
1
Accounting policies
Company information
LMG Systems Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
C/O Smb Llp, 87-91 Newman Street, London, England, W1T 3EY.
1.1
Accounting convention
These financial statements have been prepared in accordance with Section 1A FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest
pound.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Profit and loss account
The company has not traded during the year or the preceding financial period. During
this time,
the company received no income and incurred no expenditure and therefore no
Profit and loss account
is presented
in these financial statements.
1.3
Financial instruments
The company only has basic financial instruments at amortised cost, with no financial instruments
classified as other or basic instruments measured at fair value.
1.4
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
2
Debtors
2021
2020
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
50,632
50,632
3
Called up share capital
2021
2020
Ordinary share capital
£
£
Issued and fully paid
12,730 Ordinary shares of 10p each
1,273
1,273
247,620 'A' Ordinary shares of 10p each
24,762
24,762
220,550 'B' Ordinary shares of 10p each
22,055
22,055
48,090
48,090
LMG Systems Limited
Notes to the Financial Statements (Continued)
For the year ended 31 December 2021
3
Called up share capital
(Continued)
Page 3
The company's ordinary, 'A' ordinary and 'B' ordinary shares all rank pari passu and have the same rights to income and on winding up.
4
Parent company
The company is a wholly owned subsidiary of Line Management Group Limited. The ultimate parent company is LMGH Limited, a company registered in England and Wales, which is both the smallest and largest group that prepares consolidated accounts.
Post year end on the 1 April 2022, LMGIQ Limited became the ultimate parent company.
The directors consider there to be no ultimate controlling party.