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REGISTERED NUMBER: 04282112 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 January 2024

for

Leeds Test Objects Ltd

Leeds Test Objects Ltd (Registered number: 04282112)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Leeds Test Objects Ltd

Company Information
for the Year Ended 31 January 2024







DIRECTORS: A Walker
K Watson





SECRETARY: E M Walker





REGISTERED OFFICE: Miro House Becklands Close
Bar Lane
Roecliffe
York
YO51 9NR





REGISTERED NUMBER: 04282112 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Oak Tree House, Harwood Road
Northminster Business Park
Upper Poppleton
York
YO26 6QU

Leeds Test Objects Ltd (Registered number: 04282112)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 29,331 39,630
Tangible assets 5 69,979 83,892
99,310 123,522

CURRENT ASSETS
Stocks 6 393,518 340,663
Debtors 7 344,381 470,103
Cash at bank and in hand 1,942,874 1,374,092
2,680,773 2,184,858
CREDITORS
Amounts falling due within one year 8 301,652 393,581
NET CURRENT ASSETS 2,379,121 1,791,277
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,478,431

1,914,799

PROVISIONS FOR LIABILITIES 10 5,236 6,140
NET ASSETS 2,473,195 1,908,659

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 2,473,095 1,908,559
SHAREHOLDERS' FUNDS 2,473,195 1,908,659

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

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

Leeds Test Objects Ltd (Registered number: 04282112)

Balance Sheet - continued
31 January 2024


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 by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:





A Walker - Director


Leeds Test Objects Ltd (Registered number: 04282112)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Leeds Test Objects Ltd 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Income recognition
Turnover is recognised at the point at which the risks and rewards of the goods are transferred to the customer and the services are rendered.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Intellectual property are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings & equipment - 20% on cost, 12.5% - 15% on cost and 2% on cost and not provided
Motor vehicles - 25% on cost
Computer equipment - 20% on cost and 12.5% - 15% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and impairment.

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

Leeds Test Objects Ltd (Registered number: 04282112)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

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 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
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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

Leeds Test Objects Ltd (Registered number: 04282112)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

4. INTANGIBLE FIXED ASSETS
Intellectual
Goodwill property Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 46,996 4,500 51,496
AMORTISATION
At 1 February 2023 10,966 900 11,866
Amortisation for year 9,399 900 10,299
At 31 January 2024 20,365 1,800 22,165
NET BOOK VALUE
At 31 January 2024 26,631 2,700 29,331
At 31 January 2023 36,030 3,600 39,630

5. TANGIBLE FIXED ASSETS
Fixtures,
fittings Motor Computer
& equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 February 2023 53,291 62,180 11,038 126,509
Additions 9,454 - 2,443 11,897
At 31 January 2024 62,745 62,180 13,481 138,406
DEPRECIATION
At 1 February 2023 34,160 1,295 7,161 42,616
Charge for year 8,539 15,545 1,727 25,811
At 31 January 2024 42,699 16,840 8,888 68,427
NET BOOK VALUE
At 31 January 2024 20,046 45,340 4,593 69,979
At 31 January 2023 19,131 60,885 3,877 83,893

6. STOCKS
2024 2023
£    £   
Stocks 393,518 340,663

Leeds Test Objects Ltd (Registered number: 04282112)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 307,792 439,418
Prepayments 36,589 30,685
344,381 470,103

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 68,864 154,391
Taxation and social security 214,326 222,085
Accruals and deferred income 18,462 17,105
301,652 393,581

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 46,000 46,000
Between one and five years 99,667 145,667
145,667 191,667

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 5,236 6,140

Deferred
tax
£   
Balance at 1 February 2023 6,140
Movement in the year (904 )
Balance at 31 January 2024 5,236

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

Leeds Test Objects Ltd (Registered number: 04282112)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

12. ULTIMATE CONTROLLING PARTY

The company is controlled by Walker Medical & Scientific Limited, a private company, limited by shares, registered in England and Wales. The company's registered office is MiRo House, Becklands Close, Bar Lane, Roecliffe, York, YO51 9NR.