IRIS Accounts Production v24.2.0.383 02671693 director 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh026716932022-12-31026716932023-12-31026716932023-01-012023-12-31026716932021-12-31026716932022-01-012022-12-31026716932022-12-3102671693ns15:EnglandWales2023-01-012023-12-3102671693ns14:PoundSterling2023-01-012023-12-3102671693ns10:Director12023-01-012023-12-3102671693ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3102671693ns10:SmallEntities2023-01-012023-12-3102671693ns10:AuditExemptWithAccountantsReport2023-01-012023-12-3102671693ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3102671693ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3102671693ns10:FullAccounts2023-01-012023-12-310267169312023-01-012023-12-3102671693ns10:RegisteredOffice2023-01-012023-12-3102671693ns5:CurrentFinancialInstruments2023-12-3102671693ns5:CurrentFinancialInstruments2022-12-3102671693ns5:Non-currentFinancialInstruments2023-12-3102671693ns5:Non-currentFinancialInstruments2022-12-3102671693ns5:ShareCapital2023-12-3102671693ns5:ShareCapital2022-12-3102671693ns5:RetainedEarningsAccumulatedLosses2023-12-3102671693ns5:RetainedEarningsAccumulatedLosses2022-12-3102671693ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3102671693ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3102671693ns5:PatentsTrademarksLicencesConcessionsSimilar2023-01-012023-12-3102671693ns5:PatentsTrademarksLicencesConcessionsSimilar2023-12-3102671693ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3102671693ns5:PlantMachinery2022-12-3102671693ns5:FurnitureFittings2022-12-3102671693ns5:MotorVehicles2022-12-3102671693ns5:ComputerEquipment2022-12-3102671693ns5:PlantMachinery2023-01-012023-12-3102671693ns5:FurnitureFittings2023-01-012023-12-3102671693ns5:MotorVehicles2023-01-012023-12-3102671693ns5:ComputerEquipment2023-01-012023-12-3102671693ns5:PlantMachinery2023-12-3102671693ns5:FurnitureFittings2023-12-3102671693ns5:MotorVehicles2023-12-3102671693ns5:ComputerEquipment2023-12-3102671693ns5:PlantMachinery2022-12-3102671693ns5:FurnitureFittings2022-12-3102671693ns5:MotorVehicles2022-12-3102671693ns5:ComputerEquipment2022-12-3102671693ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3102671693ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-3102671693ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-12-3102671693ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2022-12-3102671693ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-3102671693ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-12-31
REGISTERED NUMBER: 02671693 (England and Wales)















LEADER CHUCK SYSTEMS LIMITED

Unaudited Financial Statements for the Year Ended 31 December 2023






LEADER CHUCK SYSTEMS LIMITED (REGISTERED NUMBER: 02671693)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Accountants' Report 2

Statement of Financial Position 3 to 4

Notes to the Financial Statements 5 to 7


LEADER CHUCK SYSTEMS LIMITED

Company Information
for the year ended 31 December 2023







Director: M A Jones





Registered office: Sky View, Argosy Road
East Midlands Airport
Castle Donington
Derby
Derbyshire
DE74 2SA





Registered number: 02671693 (England and Wales)





Accountants: Cooper Parry Advisory Limited
CUBO Birmingham
3rd Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX

Accountants' Report to the Director
on the Unaudited Financial Statements of
Leader Chuck Systems Limited

The following reproduces the text of the report prepared for the director 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 Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director 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 Leader Chuck Systems Limited for the year ended 31 December 2023 which comprise the Income Statement, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the director of Leader Chuck Systems Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Leader Chuck Systems Limited and state those matters that we have agreed to state to the director of Leader Chuck Systems Limited in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Leader Chuck Systems 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 Leader Chuck Systems Limited. You consider that Leader Chuck Systems 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 Leader Chuck Systems 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.






Cooper Parry Advisory Limited
CUBO Birmingham
3rd Floor
Two Chamberlain Square
Birmingham
West Midlands
B3 3AX


25 September 2024

LEADER CHUCK SYSTEMS LIMITED (REGISTERED NUMBER: 02671693)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Patents 4 180 241
Tangible assets 5 9,971 12,972
10,151 13,213

Current assets
Stocks 26,388 28,536
Debtors 6 53,123 32,233
Cash at bank 52,033 103,289
131,544 164,058
Creditors
Amounts falling due within one year 7 121,533 146,646
Net current assets 10,011 17,412
Total assets less current liabilities 20,162 30,625

Creditors
Amounts falling due after more than one year 8 (16,667 ) (25,833 )

Provisions for liabilities (2,465 ) (2,465 )
Net assets 1,030 2,327

Capital and reserves
Called up share capital 1,020 1,020
Retained earnings 10 1,307
Shareholders' funds 1,030 2,327

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 director acknowledges his 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.

LEADER CHUCK SYSTEMS LIMITED (REGISTERED NUMBER: 02671693)

Statement of Financial Position - 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 director and authorised for issue on 25 September 2024 and were signed by:





M A Jones - Director


LEADER CHUCK SYSTEMS LIMITED (REGISTERED NUMBER: 02671693)

Notes to the Financial Statements
for the year ended 31 December 2023

1. Statutory information

Lead Chuck Systems 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
The turnover shown in the profit and loss account represents amounts receivable for goods and services provided during the year, exclusive of Value Added Tax.

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.

Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Patents - 25% reducing balance basis

Tangible fixed assets
Tangible fixed assets are initially measured at cost. After initial recognition, tangible fixed assets are measured at cost less any accumulated depreciation and any accumulated impairment losses.

Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Plant & Machinery - 25% reducing balance basis
Fixtures & Fittings - 15% reducing balance basis
Motor Vehicles - 25% reducing balance basis
Computer Equipment - 33.33% reducing balance basis

Stocks
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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

LEADER CHUCK SYSTEMS LIMITED (REGISTERED NUMBER: 02671693)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. Accounting policies - continued

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

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 the transaction. Exchange differences are taken into account in arriving at the operating profit.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. Employees and directors

The average number of employees during the year was 2 (2022 - 2 ) .

4. Intangible fixed assets
Patents
and
licences
£   
Cost
At 1 January 2023
and 31 December 2023 18,000
Amortisation
At 1 January 2023 17,759
Amortisation for year 61
At 31 December 2023 17,820
Net book value
At 31 December 2023 180
At 31 December 2022 241

LEADER CHUCK SYSTEMS LIMITED (REGISTERED NUMBER: 02671693)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 January 2023
and 31 December 2023 44,785 38,055 28,389 1,005 112,234
Depreciation
At 1 January 2023 41,513 35,390 21,652 707 99,262
Charge for year 818 400 1,684 99 3,001
At 31 December 2023 42,331 35,790 23,336 806 102,263
Net book value
At 31 December 2023 2,454 2,265 5,053 199 9,971
At 31 December 2022 3,272 2,665 6,737 298 12,972

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 34,783 20,426
Directors' current accounts 6,800 -
Prepayments 11,540 11,807
53,123 32,233

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 80,621 88,537
Corporation Tax 5,248 7,040
Social security and other taxes 88 5
VAT 21,327 16,588
Other creditors 693 120
Shareholders loan account - 14,528
Directors' loan accounts 699 4,799
Accruals and deferred income 2,857 5,029
121,533 146,646

8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 6,667 15,833
16,667 25,833