LIS (North Western) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03762932 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2021

FOR

LIS (NORTH WESTERN) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Mr K Lees

Mrs K D Lees

Mrs S Harrington

Registered office:

Unit 11

Haydock Lane

Haydock Industrial Estate

St. Helens

Merseyside

WA11 9UY

Registered number:

03762932 (England and Wales)

Accountants:

NR Barton

1st Floor Waterside House

Waterside Drive

Wigan

Lancashire

WN3 5AZ

FIXED ASSETS

Intangible assets

4

21,681

23,740

Tangible assets

5

565,122

382,283

586,803

406,023

CURRENT ASSETS

Stocks

94,000

-

Debtors

6

499,610

309,267

Cash at bank and in hand

154,353

221,521

747,963

530,788

CREDITORS

Amounts falling due within one year

7

602,906

398,774

NET CURRENT ASSETS

145,057

132,014

TOTAL ASSETS LESS CURRENT LIABILITIES

731,860

538,037

CREDITORS

Amounts falling due after more than one year

8

(358,120

)

(201,637

)

PROVISIONS FOR LIABILITIES

11

(60,573

)

(55,571

)

NET ASSETS

313,167

280,829

CAPITAL AND RESERVES

Called up share capital

12

10,000

10,000

Retained earnings

303,167

270,829

SHAREHOLDERS' FUNDS

313,167

280,829

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 January 2022 and were signed on its behalf by:

Mrs K D Lees - Director

1.	STATUTORY INFORMATION

LIS (North Western) 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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 19 (2020 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 May 2020

and 30 April 2021

41,177

AMORTISATION

At 1 May 2020

17,437

Charge for year

2,059

At 30 April 2021

19,496

NET BOOK VALUE

At 30 April 2021

21,681

At 30 April 2020

23,740

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2020

1,215,159

Additions

301,840

At 30 April 2021

1,516,999

DEPRECIATION

At 1 May 2020

832,876

Charge for year

119,001

At 30 April 2021

951,877

NET BOOK VALUE

At 30 April 2021

565,122

At 30 April 2020

382,283

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Trade debtors

392,529

166,804

Amounts owed by connected parties

39,256

132,725

Other debtors

67,825

9,738

499,610

309,267

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.21

30.4.20

£

£

Bank loans and overdrafts

100,000

20,685

Hire purchase contracts and finance leases (see note 9)

83,505

69,201

Trade creditors

253,213

196,279

Taxation and social security

13,200

44,229

Other creditors

152,988

68,380

602,906

398,774

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.21

30.4.20

£

£

Hire purchase contracts and finance leases (see note 9)

358,120

201,637

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

Finance leases

30.4.21

30.4.20

30.4.21

30.4.20

£

£

£

£

Net obligations repayable:

Within one year

81,993

60,132

1,512

9,069

Between one and five years

358,120

200,125

-

1,512

440,113

260,257

1,512

10,581

Non-cancellable operating

leases

30.4.21

30.4.20

£

£

Within one year

88,464

88,464

Between one and five years

79,667

133,811

168,131

222,275

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.21

30.4.20

£

£

Hire purchase contracts and finance leases

441,625

270,838

Hire purchase liabilities are secured against the assets to which they relate.

11.	PROVISIONS FOR LIABILITIES

30.4.21

30.4.20

£

£

Deferred tax

Accelerated capital allowances

60,573

55,571

Deferred

tax

£

Balance at 1 May 2020

55,571

Charge to Statement of Income and Retained Earnings during year

5,002

Balance at 30 April 2021

60,573

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.21

30.4.20

value:

£

£

10,000

Ordinary

£1

10,000

10,000

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.