Lees Industrial Services Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 04921820 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2017

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

19-21 Bridgeman Terrace

Wigan

Lancashire

WN1 1TD

FIXED ASSETS

Intangible assets

4

1,214

1,300

Tangible assets

5

69,738

85,892

Investments

6

33,000

21,000

103,952

108,192

CURRENT ASSETS

Stocks

7,500

16,530

Debtors

7

45,068

105,400

Cash at bank and in hand

22,148

13,799

74,716

135,729

CREDITORS

Amounts falling due within one year

8

135,160

158,755

NET CURRENT LIABILITIES

(60,444

)

(23,026

)

TOTAL ASSETS LESS CURRENT LIABILITIES

43,508

85,166

CREDITORS

Amounts falling due after more than one year

9

-

(15,781

)

PROVISIONS FOR LIABILITIES

11

(12,947

)

(16,020

)

NET ASSETS

30,561

53,365

CAPITAL AND RESERVES

Called up share capital

12

490

530

Capital redemption reserve

110

70

Retained earnings

29,961

52,765

SHAREHOLDERS' FUNDS

30,561

53,365

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 28 November 2017 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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 4 (2016 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 May 2016

and 30 April 2017

1,734

AMORTISATION

At 1 May 2016

434

Amortisation for year

86

At 30 April 2017

520

NET BOOK VALUE

At 30 April 2017

1,214

At 30 April 2016

1,300

5.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

Plant and

and

Motor

property

machinery

fittings

vehicles

Totals

£

£

£

£

£

COST

At 1 May 2016

2,480

106,826

21,114

125,407

255,827

Additions

-

-

-

3,046

3,046

Disposals

-

(1,850

)

-

-

(1,850

)

At 30 April 2017

2,480

104,976

21,114

128,453

257,023

DEPRECIATION

At 1 May 2016

1,210

63,752

15,794

89,179

169,935

Charge for year

254

6,226

1,330

9,818

17,628

Eliminated on disposal

-

(278

)

-

-

(278

)

At 30 April 2017

1,464

69,700

17,124

98,997

187,285

NET BOOK VALUE

At 30 April 2017

1,016

35,276

3,990

29,456

69,738

At 30 April 2016

1,270

43,074

5,320

36,228

85,892

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 May 2016

and 30 April 2017

35,589

DEPRECIATION

At 1 May 2016

15,570

Charge for year

5,005

At 30 April 2017

20,575

NET BOOK VALUE

At 30 April 2017

15,014

At 30 April 2016

20,019

6.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 May 2016

21,000

Additions

12,000

At 30 April 2017

33,000

NET BOOK VALUE

At 30 April 2017

33,000

At 30 April 2016

21,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade debtors

42,968

103,400

Other debtors

2,100

2,000

45,068

105,400

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Hire purchase contracts

15,781

6,187

Trade creditors

38,505

95,059

Amounts owed to associates

63,803

43,954

Taxation and social security

9,128

10,376

Other creditors

7,943

3,179

135,160

158,755

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.17

30.4.16

£

£

Hire purchase contracts

-

15,781

10.	SECURED DEBTS

The following secured debts are included within creditors:

30.4.17

30.4.16

£

£

Hire purchase contracts

15,781

21,968

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

11.	PROVISIONS FOR LIABILITIES

30.4.17

30.4.16

£

£

Deferred tax

Accelerated capital allowances

12,947

16,020

Deferred

tax

£

Balance at 1 May 2016

16,020

Credit to Income Statement during year

(3,073

)

Balance at 30 April 2017

12,947

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.4.17

30.4.16

value:

£

£

400

Ordinary

£1

400

400

90

Ordinary B

£1

90

130

490

530

13.	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 purchased 500 shares for £12,000. To date, the company has

purchased 1,375 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 4 payments of £5,000 each

and purchased 40 shares. To date, the company has purchased 110 shares.

14.	FIRST YEAR ADOPTION

These are the first financial statements that comply with FRS 102. The company transitioned from previous UK

GAAP to FRS 102 on the 1 May 2015.

Reconciliation of Equity

No transitional adjustments were required.

Reconciliation of Profit and Loss

No transitional adjustments were required.