Lees Industrial Services Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04921820 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2020

FOR

LEES INDUSTRIAL SERVICES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Mr K Lees

Mrs K D Lees

Registered office:

Unit 11

Haydock Lane

Haydock Industrial Estate

St. Helens

Merseyside

WA11 9UY

Registered number:

04921820 (England and Wales)

Accountants:

NR Barton

1st Floor Waterside House

Waterside Drive

Wigan

Lancashire

WN3 5AZ

FIXED ASSETS

Intangible assets

4

953

1,040

Tangible assets

5

49,234

44,949

Investments

6

60,000

57,000

110,187

102,989

CURRENT ASSETS

Stocks

6,000

10,000

Debtors

7

47,132

134,867

Cash at bank

18,372

-

71,504

144,867

CREDITORS

Amounts falling due within one year

8

149,798

267,157

NET CURRENT LIABILITIES

(78,294

)

(122,290

)

TOTAL ASSETS LESS CURRENT LIABILITIES

31,893

(19,301

)

PROVISIONS FOR LIABILITIES

10

8,241

4,122

NET ASSETS/(LIABILITIES)

23,652

(23,423

)

CAPITAL AND RESERVES

Called up share capital

11

400

410

Capital redemption reserve

200

190

Retained earnings

23,052

(24,023

)

SHAREHOLDERS' FUNDS

23,652

(23,423

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 27 January 2021 and were signed on its behalf by:

Mrs K D Lees - Director

1.	STATUTORY INFORMATION

Lees Industrial Services 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Patents and licences

Patents are valued at cost less accumulated amortisation.

Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 20 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

Straight line over the life of the lease

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

Investments in associates

Investments in associate undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Investments

Fixed asset investments are stated at cost less provision for permanent diminution in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2019 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 May 2019

and 30 April 2020

1,734

AMORTISATION

At 1 May 2019

694

Amortisation for year

87

At 30 April 2020

781

NET BOOK VALUE

At 30 April 2020

953

At 30 April 2019

1,040

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 May 2019

2,480

104,976

21,114

128,453

257,023

Additions

-

1,800

540

14,345

16,685

At 30 April 2020

2,480

106,776

21,654

142,798

273,708

DEPRECIATION

At 1 May 2019

1,830

79,490

18,870

111,884

212,074

Charge for year

130

3,913

629

7,728

12,400

At 30 April 2020

1,960

83,403

19,499

119,612

224,474

NET BOOK VALUE

At 30 April 2020

520

23,373

2,155

23,186

49,234

At 30 April 2019

650

25,486

2,244

16,569

44,949

6.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 May 2019

57,000

Additions

3,000

At 30 April 2020

60,000

NET BOOK VALUE

At 30 April 2020

60,000

At 30 April 2019

57,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Trade debtors

26,338

121,452

Other debtors

20,794

13,415

47,132

134,867

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.20

30.4.19

£

£

Bank loans and overdrafts

-

2,762

Trade creditors

41,427

64,702

Amounts owed to connected parties

97,607

185,644

Taxation and social security

1,215

-

Other creditors

9,549

14,049

149,798

267,157

9.	SECURED DEBTS

Hire purchases liabilities are secured against the asset to which they relate.

10.	PROVISIONS FOR LIABILITIES

30.4.20

30.4.19

£

£

Deferred tax

Accelerated capital allowances

8,241

4,122

Deferred

tax

£

Balance at 1 May 2019

4,122

Charge to Income Statement during year

4,119

Balance at 30 April 2020

8,241

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.20

30.4.19

value:

£

£

400

Ordinary

£1

400

400

NIL

Ordinary B

£1

10

50

410

450

12.	RELATED PARTY DISCLOSURES

LIS (North Western) Limited

Lees Industrial Services Limited agreed to purchase shares in LIS (North Western) Limited from the director, Mr C P Drake, who retired on the 31/10/2014. The company agreed to purchase 2,500 ordinary £1 shares over a 5 year period. Within the period, the company has made the final purchase of 125 shares for £3,000. To date, the company has purchased all 2,500 shares.

Mr CP Drake

On the 21st October 2014, the company made a bonus issue of 67 additional shares to each shareholder. The company agreed to purchase 200 ordinary £1 shares, representing 33% of the company's share capital, for a consideration of £100,000 over a 5 year period. Within the year the company made a final payment of £5,000 and purchased the last remaining shares. To date, the company has purchased all 200 shares.

13.

COVID-19

The UK government issued a national lockdown in response to the COVID-19 pandemic and at year end the UK remained in this national lockdown. The company was able to maintain certain services as they were deemed critical to national infrastructure. Alongside this the company utilised government support packages to maintain cashflow and trade has resumed after the lockdown periods. The directors are confident that the company is well placed to continue making profits and growing through the next 12 months.