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LEEMING & PEEL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023






LEEMING & PEEL LIMITED (REGISTERED NUMBER: 03876471)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LEEMING & PEEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTOR: M Thomas





REGISTERED OFFICE: Fairfax House
6a Mill Field Road
Cottingley Business Park
Cottingley
West Yorkshire
BD16 1PY





REGISTERED NUMBER: 03876471 (England and Wales)





ACCOUNTANTS: Wilkinson and Partners
Chartered Accountants
Fairfax House
6a Mill Field Road
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PY

LEEMING & PEEL LIMITED (REGISTERED NUMBER: 03876471)

BALANCE SHEET
30 APRIL 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 6,933 10,399
Tangible assets 5 217,923 226,143
224,856 236,542

CURRENT ASSETS
Stocks 37,058 30,960
Debtors 6 81,122 55,588
Cash at bank and in hand 68,290 132,583
186,470 219,131
CREDITORS
Amounts falling due within one year 7 89,259 101,231
NET CURRENT ASSETS 97,211 117,900
TOTAL ASSETS LESS CURRENT LIABILITIES 322,067 354,442

CREDITORS
Amounts falling due after more than one
year

8

(39,394

)

(57,576

)

PROVISIONS FOR LIABILITIES 9 (2,146 ) (3,347 )
NET ASSETS 280,527 293,519

CAPITAL AND RESERVES
Called up share capital 10 15 15
Retained earnings 280,512 293,504
SHAREHOLDERS' FUNDS 280,527 293,519

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

LEEMING & PEEL LIMITED (REGISTERED NUMBER: 03876471)

BALANCE SHEET - continued
30 APRIL 2023


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 director and authorised for issue on 15 November 2023 and were signed by:





M Thomas - Director


LEEMING & PEEL LIMITED (REGISTERED NUMBER: 03876471)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Leeming & Peel 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.

In accordance with Section 444 of the Companies Act 2006, the Directors Report has not been delivered.

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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on 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 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.


LEEMING & PEEL LIMITED (REGISTERED NUMBER: 03876471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


2. ACCOUNTING POLICIES - continued
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.

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 10 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2022
and 30 April 2023 69,306
AMORTISATION
At 1 May 2022 58,907
Amortisation for year 3,466
At 30 April 2023 62,373
NET BOOK VALUE
At 30 April 2023 6,933
At 30 April 2022 10,399

LEEMING & PEEL LIMITED (REGISTERED NUMBER: 03876471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 May 2022
and 30 April 2023 95,656 98,334 486,987
DEPRECIATION
At 1 May 2022 - - 459,011
Charge for year - - 6,994
At 30 April 2023 - - 466,005
NET BOOK VALUE
At 30 April 2023 95,656 98,334 20,982
At 30 April 2022 95,656 98,334 27,976

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 May 2022
and 30 April 2023 15,121 10,000 1,124 707,222
DEPRECIATION
At 1 May 2022 13,031 8,666 371 481,079
Charge for year 522 333 371 8,220
At 30 April 2023 13,553 8,999 742 489,299
NET BOOK VALUE
At 30 April 2023 1,568 1,001 382 217,923
At 30 April 2022 2,090 1,334 753 226,143

The net book value of tangible fixed assets includes £NIL in respect of assets held under hire purchase contracts or finance leases.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Trade debtors 77,085 51,486
Other debtors 2,479 2,479
Prepayments 1,558 1,623
81,122 55,588

LEEMING & PEEL LIMITED (REGISTERED NUMBER: 03876471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 18,182 18,182
Trade creditors 30,831 38,343
Tax 8,818 14,844
Social security and other taxes 4,419 3,138
VAT 20,211 20,274
Other creditors 917 1,541
Directors' current accounts 2,809 1,997
Accrued expenses 3,072 2,912
89,259 101,231

The director's loan is interest free and repayable on demand.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans - 1-2 years 18,182 18,182
Bank loans - 2-5 years 21,212 39,394
39,394 57,576

9. PROVISIONS FOR LIABILITIES
30.4.23 30.4.22
£    £   
Deferred tax 2,146 3,347

Deferred
tax
£   
Balance at 1 May 2022 3,347
Accelerated capital allowances (1,201 )
Balance at 30 April 2023 2,146

The entire provision for deferred tax is relating to accelerated capital allowances.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.23 30.4.22
value: £    £   
5 Ordinary 1 5 5
10 A Ordinary 1 10 10
15 15

LEEMING & PEEL LIMITED (REGISTERED NUMBER: 03876471)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


11. ULTIMATE CONTROLLING PARTY

The company is not controlled by any individual shareholder, but the company was under the collective control of the shareholders.