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REGISTERED NUMBER: 02873385 (England and Wales)














Unaudited Financial Statements

for the Year Ended 29 February 2024

for

LEYSOP LIMITED

LEYSOP LIMITED (REGISTERED NUMBER: 02873385)

Contents of the Financial Statements
for the year ended 29 February 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


LEYSOP LIMITED

Company Information
for the year ended 29 February 2024







Directors: Mr P F Franks
Dr J M Ley PhD, BSc
Mr S J Payne





Secretary: Mr P F Franks





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 02873385 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

LEYSOP LIMITED (REGISTERED NUMBER: 02873385)

Statement of Financial Position
29 February 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 47,143 49,717

Current assets
Stock and work in progress 126,446 110,429
Debtors 5 110,589 134,727
Cash at bank and in hand 700,963 599,108
937,998 844,264
Creditors
Amounts falling due within one year 6 52,440 64,305
Net current assets 885,558 779,959
Total assets less current liabilities 932,701 829,676

Capital and reserves
Called up share capital 7 133 133
Share premium 16,467 16,467
Retained earnings 916,101 813,076
Shareholders' funds 932,701 829,676

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by:




Mr S J Payne - Director



Mr P F Franks - Director


LEYSOP LIMITED (REGISTERED NUMBER: 02873385)

Notes to the Financial Statements
for the year ended 29 February 2024


1. Statutory information

Leysop 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

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 in order to write off each asset over its estimated useful life.
Freehold property - 10% - 20% on a straight line basis
Plant and machinery - 35% on reducing balance

Stock and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowances obsolete and slow moving items. Work in progress is valued at the percentage of the sale value completed at the balance sheet date.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.


LEYSOP LIMITED (REGISTERED NUMBER: 02873385)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

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 8 (2023 - 8 ) .

4. Tangible fixed assets
Improvements
Freehold to Plant and Computer
property property machinery equipment Totals
£    £    £    £    £   
Cost
At 1 March 2023 89,687 59,386 13,790 866 163,729
Additions - - - 1,306 1,306
At 29 February 2024 89,687 59,386 13,790 2,172 165,035
Depreciation
At 1 March 2023 44,848 57,889 10,930 345 114,012
Charge for year 1,794 446 1,001 639 3,880
At 29 February 2024 46,642 58,335 11,931 984 117,892
Net book value
At 29 February 2024 43,045 1,051 1,859 1,188 47,143
At 28 February 2023 44,839 1,497 2,860 521 49,717

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 85,672 116,661
Other debtors 24,917 18,066
110,589 134,727

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 5,382 20,642
Taxation and social security 41,058 22,041
Other creditors 6,000 21,622
52,440 64,305

LEYSOP LIMITED (REGISTERED NUMBER: 02873385)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
133 Ordinary £1 133 133