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REGISTERED NUMBER: SC089419 (Scotland)












Financial Statements

for the Year Ended 31 October 2023

for

Leslie Commercials Limited

Leslie Commercials Limited (Registered number: SC089419)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Leslie Commercials Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: S L Wilmot
A Robertson





REGISTERED OFFICE: 1 Golf Road
Clarkston
Glasgow
G76 7HU





REGISTERED NUMBER: SC089419 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Leslie Commercials Limited (Registered number: SC089419)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,748,322 3,274,619

CURRENT ASSETS
Stocks 3,000 3,000
Debtors 5 303,376 183,405
Cash at bank and in hand 62,444 37,054
368,820 223,459
CREDITORS
Amounts falling due within one year 6 1,005,079 812,433
NET CURRENT LIABILITIES (636,259 ) (588,974 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,112,063

2,685,645

CREDITORS
Amounts falling due after more than one
year

7

(1,135,045

)

(920,562

)

PROVISIONS FOR LIABILITIES 8 (491,176 ) (425,427 )
NET ASSETS 1,485,842 1,339,656

CAPITAL AND RESERVES
Called up share capital 9 110 110
Revaluation reserve 10 84,545 86,045
Retained earnings 1,401,187 1,253,501
SHAREHOLDERS' FUNDS 1,485,842 1,339,656

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

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

Leslie Commercials Limited (Registered number: SC089419)

Balance Sheet - continued
31 October 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 2 May 2024 and were signed on its behalf by:





S L Wilmot - Director


Leslie Commercials Limited (Registered number: SC089419)

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

1. STATUTORY INFORMATION

Leslie Commercials 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 as modified by the revaluation of certain assets.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Revenue
Turnover represents the amounts derived from the provision of goods and services, excluding value added tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Hire vehicles - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Inventories
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.

Leslie Commercials Limited (Registered number: SC089419)

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

2. ACCOUNTING POLICIES - continued

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Hire
property machinery vehicles
£    £    £   
COST OR VALUATION
At 1 November 2022 175,000 134,165 4,692,764
Additions - - 1,272,540
Disposals - - (728,193 )
At 31 October 2023 175,000 134,165 5,237,111
DEPRECIATION
At 1 November 2022 14,000 85,322 1,632,286
Charge for year 3,500 7,326 547,441
Eliminated on disposal - - (466,673 )
At 31 October 2023 17,500 92,648 1,713,054
NET BOOK VALUE
At 31 October 2023 157,500 41,517 3,524,057
At 31 October 2022 161,000 48,843 3,060,478

Leslie Commercials Limited (Registered number: SC089419)

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

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 November 2022 10,100 12,681 5,024,710
Additions 24,252 614 1,297,406
Disposals - - (728,193 )
At 31 October 2023 34,352 13,295 5,593,923
DEPRECIATION
At 1 November 2022 7,770 10,713 1,750,091
Charge for year 3,109 807 562,183
Eliminated on disposal - - (466,673 )
At 31 October 2023 10,879 11,520 1,845,601
NET BOOK VALUE
At 31 October 2023 23,473 1,775 3,748,322
At 31 October 2022 2,330 1,968 3,274,619

Cost or valuation at 31 October 2023 is represented by:

Freehold Plant and Hire
property machinery vehicles
£    £    £   
Valuation in 2011 60,000 - -
Valuation in 2019 15,000 - -
Cost 100,000 134,165 5,237,111
175,000 134,165 5,237,111

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2011 - - 60,000
Valuation in 2019 - - 15,000
Cost 34,352 13,295 5,518,923
34,352 13,295 5,593,923

Freehold property was valued on an open market basis on 26 April 2019 by J & E Shepherd Chartered Surveyors .

Leslie Commercials Limited (Registered number: SC089419)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts and finance leases are as follows:
Hire
vehicles
£   
COST OR VALUATION
At 1 November 2022 4,594,743
Additions 1,248,545
Disposals (710,749 )
At 31 October 2023 5,132,539
DEPRECIATION
At 1 November 2022 1,620,048
Charge for year 534,219
Eliminated on disposal (464,351 )
At 31 October 2023 1,689,916
NET BOOK VALUE
At 31 October 2023 3,442,623
At 31 October 2022 2,974,695

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 299,209 164,028
Other debtors 4,167 19,377
303,376 183,405

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts and finance leases 823,406 708,509
Trade creditors 76,687 80,936
Taxation and social security 83,609 6,865
Other creditors 11,377 6,123
1,005,079 812,433

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 16,667 26,667
Hire purchase contracts and finance leases 1,118,378 893,895
1,135,045 920,562

Leslie Commercials Limited (Registered number: SC089419)

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

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 491,176 425,427

Deferred
tax
£   
Balance at 1 November 2022 425,427
Movement 65,749
Balance at 31 October 2023 491,176

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary Shares £1 100 100
10 Ordinary B Shares £1 10 10
110 110

10. RESERVES
Revaluation
reserve
£   
At 1 November 2022 86,045
Trf to revaluation reserve (1,500 )

At 31 October 2023 84,545