Lesley, Stephen & Co. Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07355651 (England and Wales)

LESLEY, STEPHEN & CO. LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr I S Cummine

Mr H J Cummine

Mr A G Cummine

SECRETARY:

Mr H J Cummine

REGISTERED OFFICE:

The Media Centre

7 Northumberland Street

Huddersfield

West Yorkshire

HD1 1RL

REGISTERED NUMBER:

07355651 (England and Wales)

ACCOUNTANTS:

Sheards

Chartered Accountants

Vernon House

40 New North Road

Huddersfield

West Yorkshire

HD1 5LS

FIXED ASSETS

Tangible assets

4

4,485

11,728

CURRENT ASSETS

Debtors

5

10,990,527

7,908,446

Cash at bank and in hand

439,923

391,305

11,430,450

8,299,751

CREDITORS

Amounts falling due within one year

6

(2,002,494

)

(441,456

)

NET CURRENT ASSETS

9,427,956

7,858,295

TOTAL ASSETS LESS CURRENT LIABILITIES

9,432,441

7,870,023

CREDITORS

Amounts falling due after more than one year

7

(8,276,295

)

(7,507,943

)

PROVISIONS FOR LIABILITIES

9

-

(1,806

)

NET ASSETS

1,156,146

360,274

CAPITAL AND RESERVES

Called up share capital

420

75

Share premium

935,634

-

Retained earnings

220,092

360,199

SHAREHOLDERS' FUNDS

1,156,146

360,274

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 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 19 January 2024 and were signed on its behalf by:

Mr H J Cummine - Director

1.	STATUTORY INFORMATION

Lesley, Stephen & Co. 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.

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 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 represents interest and fees receivable on loans, excluding value added tax, recorded when the company becomes entitled to the income on a monthly basis.

Tangible fixed assets

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

Plant and machinery etc

-

Straight line over 5 years monthly

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.

Government grants

Government grants represent:

-

amounts received under the Small Business Rates scheme, accounted for in the year in which it was received, and

-

assistance received under Bounce Back Loan agreement for the interest free period of the loan, calculated under the terms of the loan and accounted for in finance costs respectively.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2022

and 30 September 2023

44,898

DEPRECIATION

At 1 October 2022

33,170

Charge for year

7,243

At 30 September 2023

40,413

NET BOOK VALUE

At 30 September 2023

4,485

At 30 September 2022

11,728

5.

DEBTORS

2023

2022

£

£

Amounts falling due within one year:

Trade debtors

1,553,717

629,230

Other debtors

90,708

10,051

1,644,425

639,281

Amounts falling due after more than one year:

Trade debtors

9,346,102

7,269,165

Aggregate amounts

10,990,527

7,908,446

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

1,556,922

48,684

Trade creditors

67,542

-

Amounts owed to associates

228,127

345,802

Taxation and social security

-

40,952

Other creditors

149,903

6,018

2,002,494

441,456

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

7,997,429

6,439,706

Other creditors

278,866

1,068,237

8,276,295

7,507,943

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans

-

6,262,831

Repayable by instalments

Bank loans

1,860,231

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Bank loans

9,554,351

6,488,390

Bank loans are secured via debenture. CBILS/BBLS loans are secured under government backed initiatives.

9.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

-

1,806

Deferred

tax

£

Balance at 1 October 2022

1,806

Credit to Income Statement during year

(1,806

)

Balance at 30 September 2023

-