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Registration number: 02655794

Lacey Hickie & Caley Limited

Filleted Unaudited Financial Statements

for the Period from 1 February 2023 to 31 December 2023

 

Lacey Hickie & Caley Limited
(Registration number: 02655794)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Lacey Hickie & Caley Limited
(Registration number: 02655794)

Company Information

Directors

Mr M A Daley

Mr G P Devine

Mr I M B Noakes

Miss G L Price

Mr P Koch

Registered office

1 Colleton Crescent
Exeter
Devon
EX2 4DG

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

Lacey Hickie & Caley Limited
(Registration number: 02655794)

Balance Sheet as at 31 December 2023

Note

31 December
2023
£

31 January
2023
£

Fixed assets

 

Tangible assets

5

30,939

52,447

Current assets

 

Debtors

6

616,203

677,587

Cash at bank and in hand

 

57,569

339,319

 

673,772

1,016,906

Creditors: Amounts falling due within one year

7

(350,605)

(404,441)

Net current assets

 

323,167

612,465

Total assets less current liabilities

 

354,106

664,912

Creditors: Amounts falling due after more than one year

7

(25,617)

(36,108)

Provisions for liabilities

-

(8,635)

Net assets

 

328,489

620,169

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

327,489

619,169

Total equity

 

328,489

620,169

For the financial period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 9 September 2024 and signed on its behalf by:

.........................................

Mr I M B Noakes
Director

 

Lacey Hickie & Caley Limited
(Registration number: 02655794)

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
1 Colleton Crescent
Exeter
Devon
EX2 4DG

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Disclosure of long or short period

The financial statements cover the 11-month period ended 31 December 2023 as opposed to the usual 12-month period to 31 January. This change in accounting period is due to aligning with the group's reporting period.

Going concern

The financial statements have been prepared on a going concern basis, as the Directors are confident that the Company has adequate resources to continue in operational existence for the foreseeable future. In making this assessment, the Directors have taken measures to ensure the Company has a sound future cash flow, borrowing facilities, and the ability to generate profits. Therefore, they continue to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Lacey Hickie & Caley Limited
(Registration number: 02655794)

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 31 December 2023

Tax

The tax expense for the period comprises corporation tax and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leashold improvements

Over the length of the associated lease

Fixtures, fittings and equipment

20% straight line basis or over the length of the associated lease

Office equipment

20 - 33.3% straight line basis

Computer equipment

20 - 33.3% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Lacey Hickie & Caley Limited
(Registration number: 02655794)

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 31 December 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 49 (2023 - 55).

 

Lacey Hickie & Caley Limited
(Registration number: 02655794)

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 31 December 2023

4

Loss/profit before tax

Arrived at after charging/(crediting)

01 February 2023 - 31 December
2023
£

01 February 2022 - 31 January
2023
£

Depreciation expense

32,448

33,978

5

Tangible assets

Leasehold improvements
£

Fixtures, fittings and equipment
 £

Office equipment
 £

Computer equipment
£

Total
£

Cost or valuation

At 1 February 2023

10,489

124,143

27,539

470,992

633,163

Additions

-

2,648

580

7,712

10,940

At 31 December 2023

10,489

126,791

28,119

478,704

644,103

Depreciation

At 1 February 2023

10,489

123,843

21,741

424,643

580,716

Charge for the period

-

452

3,304

28,692

32,448

At 31 December 2023

10,489

124,295

25,045

453,335

613,164

Carrying amount

At 31 December 2023

-

2,496

3,074

25,369

30,939

At 31 January 2023

-

300

5,798

46,349

52,447

6

Debtors

31 December
2023
£

31 January
2023
£

Trade debtors

364,028

519,836

Other debtors

64,304

3,792

Prepayments and accrued income

91,411

86,037

Gross amount due from customers for contract work

96,460

67,922

Total current trade and other debtors

616,203

677,587

 

Lacey Hickie & Caley Limited
(Registration number: 02655794)

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 31 December 2023

7

Creditors

Note

31 December
2023
£

31 January
2023
£

Due within one year

 

Loans and borrowings

8

6,883

30,887

Trade creditors

 

83,325

67,211

Amounts owed to group undertakings

10

105,000

105,000

Taxation and social security

 

74,841

145,448

Other creditors

 

63,918

34,962

Accrued expenses

 

16,638

20,933

 

350,605

404,441

Due after one year

 

Loans and borrowings

8

25,617

36,108

Note

31 December
2023
£

31 January
2023
£

Due after one year

 

Loans and borrowings

8

25,617

36,108

8

Loans and borrowings

31 December
2023
£

31 January
2023
£

Current loans and borrowings

Bank borrowings

6,883

5,559

Other borrowings

-

25,328

6,883

30,887

31 December
2023
£

31 January
2023
£

Non-current loans and borrowings

Bank borrowings

25,617

36,108

 

Lacey Hickie & Caley Limited
(Registration number: 02655794)

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 31 December 2023

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £49,425 (2023 - £132,383). This relates to operating lease commitments in respect of property and equipment.

10

Related party transactions

The company has taken advantage of the exemptions in FRS 102 Section 1A "Related Party Disclosures" from disclosing transactions with other members of the group and key management personnel.

11

Parent and ultimate parent undertaking

The company's immediate parent is LHC Group Limited, incorporated in the United Kingdom.

  These financial statements are available upon request from 1 Emperor Way, Exeter Business Park, Exeter, Devon, EX1 3QS