Legiste Limited 3990482 false 2022-05-01 2023-04-30 2023-04-30 The principal activity of the company is the production of apple juice and cider. Digita Accounts Production Advanced 6.30.9574.0 true true 3990482 2022-05-01 2023-04-30 3990482 2023-04-30 3990482 bus:OrdinaryShareClass1 2023-04-30 3990482 bus:OrdinaryShareClass2 2023-04-30 3990482 bus:Original 2023-04-30 3990482 core:CurrentFinancialInstruments 2023-04-30 3990482 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 3990482 core:FurnitureFittingsToolsEquipment 2023-04-30 3990482 core:OtherPropertyPlantEquipment 2023-04-30 3990482 bus:SmallEntities 2022-05-01 2023-04-30 3990482 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 3990482 bus:FullAccounts 2022-05-01 2023-04-30 3990482 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 3990482 bus:RegisteredOffice 2022-05-01 2023-04-30 3990482 bus:Director1 2022-05-01 2023-04-30 3990482 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 3990482 bus:OrdinaryShareClass2 2022-05-01 2023-04-30 3990482 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 3990482 core:FurnitureFittingsToolsEquipment 2022-05-01 2023-04-30 3990482 core:OfficeEquipment 2022-05-01 2023-04-30 3990482 core:OtherPropertyPlantEquipment 2022-05-01 2023-04-30 3990482 core:PlantMachinery 2022-05-01 2023-04-30 3990482 core:OtherRelatedParties 2022-05-01 2023-04-30 3990482 countries:England 2022-05-01 2023-04-30 3990482 2022-04-30 3990482 core:FurnitureFittingsToolsEquipment 2022-04-30 3990482 core:OtherPropertyPlantEquipment 2022-04-30 3990482 2021-05-01 2022-04-30 3990482 2022-04-30 3990482 bus:OrdinaryShareClass1 2022-04-30 3990482 bus:OrdinaryShareClass2 2022-04-30 3990482 core:CurrentFinancialInstruments 2022-04-30 3990482 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 3990482 core:FurnitureFittingsToolsEquipment 2022-04-30 3990482 core:OtherPropertyPlantEquipment 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 3990482

Legiste Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2023

 

Legiste Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Legiste Limited

Company Information

Director

Ms F J Dickson

Registered office

257 Clifton Dr South
St Annes on Sea
Lytham St Annes
Lancashire
FY8 1HW

Accountants

Giles Hewitt & Co Ltd
Chartered Certified Accountants
257 Clifton Dr South
St Annes on Sea
Lytham St Annes
Lancashire
FY8 1HW

 

Legiste Limited

(Registration number: 3990482)
Balance Sheet as at 30 April 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,934

5,245

Current assets

 

Stocks

5

54,740

53,440

Debtors

6

27

370

Cash at bank and in hand

 

19

82

 

54,786

53,892

Creditors: Amounts falling due within one year

7

(66,163)

(64,059)

Net current liabilities

 

(11,377)

(10,167)

Net liabilities

 

(7,443)

(4,922)

Capital and reserves

 

Called up share capital

8

1,000

1,000

Retained earnings

(8,443)

(5,922)

Shareholders' deficit

 

(7,443)

(4,922)

For the financial year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 18 January 2024
 

.........................................
Ms F J Dickson
Director

 

Legiste Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
257 Clifton Dr South
St Annes on Sea
Lytham St Annes
Lancashire
FY8 1HW

These financial statements were authorised for issue by the director on 18 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The director believes that is appropriate. She does so on the basis that the company is able to operate within its bank overdraft facility with the benefit of loans she has made and expects to continue to make to the company when necessary.

Revenue recognition

The turnover in the profit and loss account represents grant income recognised during the year.

Government grants

Grants received are recognised in the profit and loss account to match them with the expenditure to which they are intended to contribute. To the extent to which a grant is made as a contribution towards a fixed asset, the grant is matched to the depreciation charged on the fixed asset. Grant income received but not yet recognised in the profit and loss account is treated as deferred income in the balance sheet. Of a grant brought forward of £262, £123 has been recognised in the profit and loss account with the remainder of £139 carried forward in the balance sheet.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Legiste Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Depreciation

Depreciation is charged so as to write off the cost of assets less their residual values over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

At 25% on net book value

Office equipment

Over 3 years on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Legiste Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Legiste Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023

4

Tangible assets

Office equipment
£

Plant and equipment
 £

Total
£

Cost or valuation

At 1 May 2022

6,121

23,909

30,030

At 30 April 2023

6,121

23,909

30,030

Depreciation

At 1 May 2022

6,120

18,665

24,785

Charge for the year

-

1,311

1,311

At 30 April 2023

6,120

19,976

26,096

Carrying amount

At 30 April 2023

1

3,933

3,934

At 30 April 2022

1

5,244

5,245

5

Stocks

2023
£

2022
£

Other inventories

54,740

53,440

6

Debtors

Current

2023
£

2022
£

Other debtors

27

370

 

27

370

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

64,733

63,020

Trade creditors

 

350

-

Accruals and deferred income

 

916

1,039

Other creditors

 

164

-

 

66,163

64,059

 

Legiste Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2023


 

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary A shares of £1 each

500

500

500

500

Ordinary B shares of £1 each

500

500

500

500

 

1,000

1,000

1,000

1,000

9

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

3,697

3,953

Other borrowings

61,036

59,067

64,733

63,020

10

Related party transactions

Summary of transactions with other related parties

Ms F J Dickson
(A shareholder and director in the company)
Ms F J Dickson has provided a loan to the company. At the balance sheet date the amount due to Ms F J Dickson was £49,644 (2022 - £47,674).

Mr I W Maynard
(A shareholder in the company)
Mr I W Maynard has provided a loan to the company. At the balance sheet date the amount due to Mr I W Maynard was £11,393 (2022 - £11,393).