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REGISTERED NUMBER: 02615708 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

LEMON STEEL SERVICES LIMITED

LEMON STEEL SERVICES LIMITED (REGISTERED NUMBER: 02615708)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023




Page

Company Information 1

Chartered Accountants' Report 2

Abridged Balance Sheet 3

Notes to the Financial Statements 5


LEMON STEEL SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: K R Childs
P A Pannell
P R Hart





REGISTERED OFFICE: Russell Gardens
Wickford
Essex
SS11 8BH





REGISTERED NUMBER: 02615708 (England and Wales)





ACCOUNTANTS: Goldwyns Limited
Chartered Accountants
Rutland House
90-92 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LEMON STEEL SERVICES LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lemon Steel Services Limited for the year ended 31 August 2023 which comprise the Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Lemon Steel Services Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lemon Steel Services Limited and state those matters that we have agreed to state to the Board of Directors of Lemon Steel Services Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lemon Steel Services Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lemon Steel Services Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lemon Steel Services Limited. You consider that Lemon Steel Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lemon Steel Services Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Goldwyns Limited
Chartered Accountants
Rutland House
90-92 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ


23 February 2024

LEMON STEEL SERVICES LIMITED (REGISTERED NUMBER: 02615708)

ABRIDGED BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 185,674 131,301

CURRENT ASSETS
Stocks 169,082 147,637
Debtors 800,923 787,828
Cash at bank 346,711 314,484
1,316,716 1,249,949
CREDITORS
Amounts falling due within one year 808,050 707,967
NET CURRENT ASSETS 508,666 541,982
TOTAL ASSETS LESS CURRENT
LIABILITIES

694,340

673,283

CREDITORS
Amounts falling due after more than one
year

55,111

226,111
NET ASSETS 639,229 447,172

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 639,129 447,072
SHAREHOLDERS' FUNDS 639,229 447,172

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

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

LEMON STEEL SERVICES LIMITED (REGISTERED NUMBER: 02615708)

ABRIDGED BALANCE SHEET - continued
31 AUGUST 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 August 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 22 February 2024 and were signed on its behalf by:





P A Pannell - Director


LEMON STEEL SERVICES LIMITED (REGISTERED NUMBER: 02615708)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2023

1. STATUTORY INFORMATION

Lemon Steel 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 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 net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates, commencing in the month of acquisition, in order to write off each asset over its estimated useful life.

Short leasehold- over remaining period of lease
Plant and machinery- 15% on reducing balance
Fixtures and fittings- 10% on reducing balance
Motor vehicles- 25% on reducing balance

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

Cost of work in progress includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

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.

LEMON STEEL SERVICES LIMITED (REGISTERED NUMBER: 02615708)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and lease commitments
Assets obtained under hire purchase contracts are capitalised in the balance sheet and are depreciated over their estimated useful lives.

The interest element of these obligations is charged to the profit and loss account on a sum of digits basis over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the Profit and Loss Account as incurred.

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 21 (2022 - 16 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 September 2022 357,512
Additions 94,226
Disposals (13,899 )
At 31 August 2023 437,839
DEPRECIATION
At 1 September 2022 226,211
Charge for year 37,195
Eliminated on disposal (11,241 )
At 31 August 2023 252,165
NET BOOK VALUE
At 31 August 2023 185,674
At 31 August 2022 131,301

LEMON STEEL SERVICES LIMITED (REGISTERED NUMBER: 02615708)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 25,000
Transfer to ownership 34,150
At 31 August 2023 59,150
DEPRECIATION
Charge for year 14,388
Transfer to ownership 1,599
At 31 August 2023 15,987
NET BOOK VALUE
At 31 August 2023 43,163

5. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 23,154 -
Between one and five years 34,388 -
57,542 -

Non-cancellable operating leases
2023 2022
£    £   
Within one year 30,506 18,912
Between one and five years 36,373 17,552
66,879 36,464

LEMON STEEL SERVICES LIMITED (REGISTERED NUMBER: 02615708)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

6. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 29,361 39,358
Hire purchase contracts 57,542 -
86,903 39,358

Bank loans are secured by a guarantee from the UK government under the Bounce Back loan scheme.

Hire purchase agreements are secured against the assets to which they relate.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

8. PENSION COMMITMENTS

The company operates a defined contribution pension scheme in respect of employees. During the period the company contributions amounted to £18,836 (2022 - £10,842). Premiums outstanding at the period end amounted to £4,949 (2022 - £4,237)