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REGISTERED NUMBER: 04129037 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

F.W. LEALAN & SON LIMITED

F.W. LEALAN & SON LIMITED (REGISTERED NUMBER: 04129037)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


F.W. LEALAN & SON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P F Lealan
Mrs A E Winwood





REGISTERED OFFICE: The Nurseries
Bridgnorth Road
Shipley, Pattingham
Wolverhampton
West Midlands
WV6 7EZ





REGISTERED NUMBER: 04129037 (England and Wales)





ACCOUNTANTS: Astbury Accountants Limited
12 Northgate
Bridgnorth
Shropshire
WV16 4ER

F.W. LEALAN & SON LIMITED (REGISTERED NUMBER: 04129037)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 613,041 609,848

CURRENT ASSETS
Stocks 229,330 246,988
Debtors 5 19,534 17,860
Cash at bank and in hand 69,091 105,526
317,955 370,374
CREDITORS
Amounts falling due within one year 6 402,740 390,273
NET CURRENT LIABILITIES (84,785 ) (19,899 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

528,256

589,949

CREDITORS
Amounts falling due after more than one
year

7

(26,332

)

(18,258

)

PROVISIONS FOR LIABILITIES (65,559 ) (63,078 )
NET ASSETS 436,365 508,613

CAPITAL AND RESERVES
Called up share capital 8 84,000 84,000
Revaluation reserve 9 175,010 175,010
Retained earnings 177,355 249,603
SHAREHOLDERS' FUNDS 436,365 508,613

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

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

F.W. LEALAN & SON LIMITED (REGISTERED NUMBER: 04129037)

BALANCE SHEET - continued
31 DECEMBER 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 17 July 2024 and were signed on its behalf by:




P F Lealan - Director



Mrs A E Winwood - Director


F.W. LEALAN & SON LIMITED (REGISTERED NUMBER: 04129037)

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

1. STATUTORY INFORMATION

F.W. Lealan & Son 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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts supported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The judgements that the management have made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows:

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

Turnover from the sale of plants, fertilizers and chemicals, garden furniture and equipment, is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on receipt of payment.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 10% on reducing balance

Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

Financial instruments
(i) Cash and cash Equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, and bank overdrafts.

(ii) Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are stated at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.


F.W. LEALAN & SON LIMITED (REGISTERED NUMBER: 04129037)

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

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets acquired under hire purchase are capitalised and depreciated over the expected useful life of the asset. Hire purchase payments are apportioned between the finance charge and the reduction of the outstanding hire purchase liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors.

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.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the profit and loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2022 - 18 ) .

F.W. LEALAN & SON LIMITED (REGISTERED NUMBER: 04129037)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 431,979 468,938 900,917
Additions - 93,377 93,377
Disposals - (56,266 ) (56,266 )
At 31 December 2023 431,979 506,049 938,028
DEPRECIATION
At 1 January 2023 76,479 214,590 291,069
Charge for year 5,110 39,593 44,703
Eliminated on disposal - (10,785 ) (10,785 )
At 31 December 2023 81,589 243,398 324,987
NET BOOK VALUE
At 31 December 2023 350,390 262,651 613,041
At 31 December 2022 355,500 254,348 609,848

Included in cost of land and buildings is freehold land of £ 100,000 (2022 - £ 100,000 ) which is not depreciated.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 19,534 17,860

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 9,177 9,197
Trade creditors 117,633 116,142
Taxation and social security 18,727 26,808
Other creditors 257,203 238,126
402,740 390,273

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 26,332 18,258

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
84,000 Ordinary 1 84,000 84,000

F.W. LEALAN & SON LIMITED (REGISTERED NUMBER: 04129037)

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

9. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 175,010

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £11,500 (2022 £12,928).
.