Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01falseNo description of principal activity1717truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03691074 2023-04-01 2024-03-31 03691074 2022-04-01 2023-03-31 03691074 2024-03-31 03691074 2023-03-31 03691074 c:Director2 2023-04-01 2024-03-31 03691074 d:Buildings 2023-04-01 2024-03-31 03691074 d:Buildings 2024-03-31 03691074 d:Buildings 2023-03-31 03691074 d:Buildings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03691074 d:MotorVehicles 2023-04-01 2024-03-31 03691074 d:MotorVehicles 2024-03-31 03691074 d:MotorVehicles 2023-03-31 03691074 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03691074 d:FurnitureFittings 2023-04-01 2024-03-31 03691074 d:FurnitureFittings 2024-03-31 03691074 d:FurnitureFittings 2023-03-31 03691074 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03691074 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 03691074 d:CurrentFinancialInstruments 2024-03-31 03691074 d:CurrentFinancialInstruments 2023-03-31 03691074 d:Non-currentFinancialInstruments 2024-03-31 03691074 d:Non-currentFinancialInstruments 2023-03-31 03691074 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 03691074 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 03691074 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 03691074 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 03691074 d:ShareCapital 2024-03-31 03691074 d:ShareCapital 2023-03-31 03691074 d:RetainedEarningsAccumulatedLosses 2024-03-31 03691074 d:RetainedEarningsAccumulatedLosses 2023-03-31 03691074 c:FRS102 2023-04-01 2024-03-31 03691074 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 03691074 c:FullAccounts 2023-04-01 2024-03-31 03691074 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03691074 2 2023-04-01 2024-03-31 03691074 6 2023-04-01 2024-03-31 03691074 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure
                                                                                                                   Registered number: 03691074














LEFTLEYS OF WELLS LIMITED


UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

 
LEFTLEYS OF WELLS LIMITED
REGISTERED NUMBER: 03691074

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
511,320
529,904

Investments
 5 
2,948,442
2,625,747

  
3,459,762
3,155,651

Current assets
  

Stocks
  
85,625
77,620

Debtors: amounts falling due within one year
 6 
4,720
3,843

Cash at bank and in hand
  
122,164
249,144

  
212,509
330,607

Creditors: amounts falling due within one year
 7 
(198,765)
(230,979)

Net current assets
  
 
 
13,744
 
 
99,628

Total assets less current liabilities
  
3,473,506
3,255,279

Creditors: amounts falling due after more than one year
 8 
-
(1,600)

Provisions for liabilities
  

Deferred tax
  
(353,304)
(295,911)

  
 
 
(353,304)
 
 
(295,911)

Net assets
  
3,120,202
2,957,768


Capital and reserves
  

Called up share capital 
  
1,000
1,000

Profit and loss account
  
3,119,202
2,956,768

  
3,120,202
2,957,768


Page 1

 
LEFTLEYS OF WELLS LIMITED
REGISTERED NUMBER: 03691074
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 3 October 2024.




................................................
Mr N G Leftley
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
LEFTLEYS OF WELLS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Leftleys of Wells Limited is a private company limited by shares and incorporated in England & Wales, registration number 03691074. The registered office is 5-7 High Street, Wells-next-the-sea, Norfolk, NR23 1EW

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
LEFTLEYS OF WELLS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows:.

Depreciation is provided on the following basis:

Freehold property
-
Nil/4% straight line on property improvements
Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
25% reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Valuation of investments

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 4

 
LEFTLEYS OF WELLS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
third parties, loans to related parties and investments in ordinary shares.

 
2.13

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 17 (2023 - 17).

Page 5

 
LEFTLEYS OF WELLS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Freehold property
Motor vehicles
Fixtures & fittings
Total

£
£
£
£



Cost or valuation


At 1 April 2023
476,162
131,877
363,541
971,580


Additions
-
48,085
3,554
51,639


Disposals
-
(59,989)
-
(59,989)



At 31 March 2024

476,162
119,973
367,095
963,230



Depreciation


At 1 April 2023
102,763
60,279
278,634
441,676


Charge for the year on owned assets
7,045
13,677
21,717
42,439


Disposals
-
(32,205)
-
(32,205)



At 31 March 2024

109,808
41,751
300,351
451,910



Net book value



At 31 March 2024
366,354
78,222
66,744
511,320



At 31 March 2023
373,399
71,598
84,907
529,904


5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 April 2023
2,625,747


Additions
542,020


Disposals
(468,345)


Revaluations
249,021



At 31 March 2024
2,948,443






Page 6

 
LEFTLEYS OF WELLS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Trade debtors
1,802
1,593

Prepayments and accrued income
2,918
2,250

4,720
3,843



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
110,450
83,787

Corporation tax
-
7,567

Other taxation and social security
7,600
12,856

Other creditors
68,512
115,014

Accruals and deferred income
12,203
11,755

198,765
230,979



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Government grants received
-
1,600

-
1,600



9.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £4,860 (2023 - £26,366).


10.


Related party transactions

At the year end the directors and shareholders were owed a total of £67,537 (2023 - £95,368) which is repayable on demand. 

 
Page 7