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REGISTERED NUMBER: 02730538 (England and Wales)






Unaudited Financial Statements

for the Year Ended 31st December 2023

for

LAYSTONE ELECTRONICS LIMITED

LAYSTONE ELECTRONICS LIMITED (REGISTERED NUMBER: 02730538)






Contents of the Financial Statements
for the Year Ended 31st December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LAYSTONE ELECTRONICS LIMITED

Company Information
for the Year Ended 31st December 2023







Directors: J G Masidlover
Mrs T Masidlover
S E Masidlover



Registered office: Unit 2
Ascot Park
Lenton Street
Sandiacre
Nottinghamshire
NG10 5DL



Registered number: 02730538 (England and Wales)



Accountants: S G Beale and Co
Chartered Accountants
1 Kille House
Chinnor Road
Thame
Oxfordshire
OX9 3NU



Bankers: HSBC Bank Plc
99 High Street
Chelmsford
Essex
CM1 1EQ

LAYSTONE ELECTRONICS LIMITED (REGISTERED NUMBER: 02730538)

Balance Sheet
31st December 2023

2022 2023
£    £    Notes £    £   
FIXED ASSETS
113,209 Tangible assets 4 101,888

CURRENT ASSETS
77,548 Stocks 5 96,272
454,131 Debtors 6 498,875
2,056 Cash at bank 3
533,735 595,150
CREDITORS
386,442 Amounts falling due within one year 7 538,657
147,293 NET CURRENT ASSETS 56,493

260,502
TOTAL ASSETS LESS CURRENT
LIABILITIES

158,381

CREDITORS

300,339
Amounts falling due after more than one
year

8

234,487
(39,837 ) NET LIABILITIES (76,106 )

CAPITAL AND RESERVES
198 Called up share capital 9 198
(40,035 ) Retained earnings 10 (76,304 )
(39,837 ) SHAREHOLDERS' FUNDS (76,106 )

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

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

LAYSTONE ELECTRONICS LIMITED (REGISTERED NUMBER: 02730538)

Balance Sheet - continued
31st 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th September 2024 and were signed on its behalf by:





S E Masidlover - Director


LAYSTONE ELECTRONICS LIMITED (REGISTERED NUMBER: 02730538)

Notes to the Financial Statements
for the Year Ended 31st December 2023

1. STATUTORY INFORMATION

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost

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 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 10 ) .

LAYSTONE ELECTRONICS LIMITED (REGISTERED NUMBER: 02730538)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
Cost
At 1st January 2023
and 31st December 2023 188,590
Depreciation
At 1st January 2023 75,381
Charge for year 11,321
At 31st December 2023 86,702
Net book value
At 31st December 2023 101,888
At 31st December 2022 113,209

5. STOCKS
2023 2022
£    £   
Stocks 96,272 77,548

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 105,349 65,007
Amounts owed by group undertakings 389,778 382,999
Sundry debtors and
prepayments 3,748 6,125
498,875 454,131

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 29,849 31,074
Other loans 66,071 109,993
Hire purchase contracts 5,907 27,166
Trade creditors 51,790 42,983
Social security and other taxes 75,013 42,492
VAT 67,439 36,715
Amounts advanced in respect of
debtors 93,236 49,458
Directors' current accounts - 460
Accruals and deferred income 149,352 46,101
538,657 386,442

LAYSTONE ELECTRONICS LIMITED (REGISTERED NUMBER: 02730538)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 2-5 years 35,684 56,000
Other loans - 2-5 years 154,498 220,625
Hire purchase contracts 44,305 23,714
234,487 300,339

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
198 Ordinary 1 198 198

10. RESERVES
Retained
earnings
£   

At 1st January 2023 (40,035 )
Deficit for the year (36,269 )
At 31st December 2023 (76,304 )

11. ULTIMATE CONTROLLING PARTY

The controlling party is S E Masidlover.