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REGISTERED NUMBER: SC048774 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Lesmac (Fasteners) Limited

Lesmac (Fasteners) Limited (Registered number: SC048774)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lesmac (Fasteners) Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: E R Kneale
Mrs L Cameron





REGISTERED OFFICE: 73 Dykehead Street
Queenslie Industrial Estate
Glasgow
G33 4AQ





REGISTERED NUMBER: SC048774 (Scotland)





ACCOUNTANTS: Graham & Co. (Accountants) Limited
76 Dumbarton Road
Clydebank
Glasgow
G81 1UG

Lesmac (Fasteners) Limited (Registered number: SC048774)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 93,211 104,974
Investments 5 251,250 251,250
344,461 356,224

CURRENT ASSETS
Stocks 344,420 311,000
Debtors 6 606,594 539,938
Cash at bank 1,118,189 901,590
2,069,203 1,752,528
CREDITORS
Amounts falling due within one year 7 387,701 335,269
NET CURRENT ASSETS 1,681,502 1,417,259
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,025,963

1,773,483

CREDITORS
Amounts falling due after more than one
year

8

(39,631

)

(47,819

)

PROVISIONS FOR LIABILITIES (13,377 ) (5,404 )
NET ASSETS 1,972,955 1,720,260

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 1,972,755 1,720,060
SHAREHOLDERS' FUNDS 1,972,955 1,720,260

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Lesmac (Fasteners) Limited (Registered number: SC048774)

Balance Sheet - continued
31 May 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2023 and were signed on its behalf by:





E R Kneale - Director


Lesmac (Fasteners) Limited (Registered number: SC048774)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Lesmac (Fasteners) Limited is a private company, limited by shares , registered in Scotland. 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.

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 - 5% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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

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 13 (2022 - 12 ) .

Lesmac (Fasteners) Limited (Registered number: SC048774)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2022 5,217 123,228 24,456 139,695 292,596
Additions - 3,344 - 75,369 78,713
Disposals - - - (99,625 ) (99,625 )
At 31 May 2023 5,217 126,572 24,456 115,439 271,684
DEPRECIATION
At 1 June 2022 5,217 97,020 17,070 68,315 187,622
Charge for year - 5,911 1,477 25,018 32,406
Eliminated on disposal - - - (41,555 ) (41,555 )
At 31 May 2023 5,217 102,931 18,547 51,778 178,473
NET BOOK VALUE
At 31 May 2023 - 23,641 5,909 63,661 93,211
At 31 May 2022 - 26,208 7,386 71,380 104,974

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2022
and 31 May 2023 251,250
NET BOOK VALUE
At 31 May 2023 251,250
At 31 May 2022 251,250

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 245,517 181,624
Amounts owed by group undertakings 300,000 300,000
Other debtors 61,077 58,314
606,594 539,938

Lesmac (Fasteners) Limited (Registered number: SC048774)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 17,616 12,641
Trade creditors 241,274 208,654
Taxation and social security 24,226 13,217
Other creditors 94,585 90,757
387,701 335,269

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans 20,761 30,477
Hire purchase contracts 18,870 17,342
39,631 47,819

9. RELATED PARTY DISCLOSURES

Debtors includes £300,000 due by a group company and £58,313
due by Lesmac Properties Ltd, a company controlled by a director.

Creditors includes £78,091 due to a director.