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Registered number: 01337646














LESSITERS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

 
LESSITERS LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Statement of Changes in Equity
 
3
Notes to the Financial Statements
 
4 - 9


 
LESSITERS LIMITED
REGISTERED NUMBER:01337646

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
843,765
726,936

Current assets
  

Stocks
 5 
531,838
297,452

Debtors: amounts falling due within one year
 6 
2,032,692
1,626,298

Current asset investments
  
101,434
95,912

Cash at bank and in hand
  
1,176,800
1,667,999

  
3,842,764
3,687,661

Current liabilities
  

Creditors: amounts falling due within one year
 8 
(853,708)
(761,247)

Net current assets
  
 
 
2,989,056
 
 
2,926,414

Total assets less current liabilities
  
3,832,821
3,653,350

Creditors: amounts falling due after more than one year
 9 
(12,122)
-

Provisions for liabilities
  

Deferred tax
 10 
(196,690)
(168,455)

Net assets
  
3,624,009
3,484,895


Capital and reserves
  

Called up share capital 
 11 
45,000
45,000

Capital redemption reserve
  
5,000
5,000

Profit and loss account
  
3,574,009
3,434,895

  
3,624,009
3,484,895


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.




 

Page 1

 
LESSITERS LIMITED
REGISTERED NUMBER:01337646
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

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 comprehensive income 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 23 October 2024.




Nadine Luder
Director

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
LESSITERS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024


Called up share capital
Capital redemption reserve
Profit and loss account
Total equity

£
£
£
£


At 1 July 2022
45,000
5,000
3,322,330
3,372,330



Profit for the year
-
-
252,565
252,565

Dividends: Equity capital
-
-
(140,000)
(140,000)



At 1 July 2023
45,000
5,000
3,434,895
3,484,895



Profit for the year
-
-
279,114
279,114


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(140,000)
(140,000)


At 30 June 2024
45,000
5,000
3,574,009
3,624,009


The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
LESSITERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Lessiters Limited is a private limited liability company incorporated in England and Wales with its registered office and principal place of business at 61 London Road, Woolmer Green, Hertfordshire, SG3 6JE.
The principal activity of the company continued to be that of the manufacture and wholesale of fine chocolates.

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 following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the company in respect of goods supplied during the year, exclusive of Value Added Tax and trade discounts.
Turnover is recognised when goods are dispatched.

 
2.3

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 on the following bases:

Depreciation is provided on the following basis:

Plant & machinery
-
10% - 25% straight line
Motor vehicles
-
25% reducing balance
Fixtures & fittings
-
10% straight line

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 the Statement of Comprehensive Income.

Page 4

 
LESSITERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.
At each balance sheet 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.

 
2.5

Debtors

Short term debtors are measured at the transaction price, less any impairment.

 
2.6

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.

 
2.7

Creditors

Short term creditors are measured at the transaction price.

 
2.8

Government grants

Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure. 

 
2.9

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is £ Sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.10

Dividends

Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. 

Page 5

 
LESSITERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.11

Leased assets: the company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.12

Pensions

Defined contribution pension plan
The company contributes to 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.

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
 - The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
 - Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

 
2.14

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the company but are presented separately due to their size or incidence.


3.


Employees

The average monthly number of employees, including directors, during the year was 49 (2023 - 46).

Page 6

 
LESSITERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

4.


Tangible fixed assets





Plant & machinery
Motor vehicles
Fixtures & fittings
Total

£
£
£
£



Cost


At 1 July 2023
2,919,103
107,584
646,842
3,673,529


Additions
270,344
24,366
3,587
298,297


Disposals
-
(27,996)
-
(27,996)



At 30 June 2024

3,189,447
103,954
650,429
3,943,830



Depreciation


At 1 July 2023
2,382,315
26,897
537,381
2,946,593


Charge for the year on owned assets
115,170
21,014
24,288
160,472


Disposals
-
(7,000)
-
(7,000)



At 30 June 2024

2,497,485
40,911
561,669
3,100,065



Net book value



At 30 June 2024
691,962
63,043
88,760
843,765



At 30 June 2023
536,788
80,687
109,461
726,936


5.


Stocks

2024
2023
£
£

Raw materials and consumables
531,838
297,452


Page 7

 
LESSITERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Debtors

2024
2023
£
£


Trade debtors
852,293
562,725

Amounts owed by group undertakings
1,095,588
1,006,293

Other debtors
32,181
20,579

Prepayments
52,630
36,701

2,032,692
1,626,298



7.


Current asset investments

2024
2023
£
£

Unlisted investments
101,434
95,912

101,434
95,912



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
159,522
51,920

Amounts owed to group undertakings
110,000
110,000

Taxation and social security
248,050
261,086

Obligations under finance lease and hire purchase contracts
5,784
-

Other creditors
260,925
253,598

Accruals and deferred income
69,427
84,643

853,708
761,247



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Net obligations under finance leases and hire purchase contracts
12,122
-


Page 8

 
LESSITERS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

10.


Deferred taxation




2024


£






At beginning of year
168,455


Charged to statement of comprehensive income
28,235



At end of year
196,690

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
196,690
168,455


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



45,000 (2023 - 45,000) Ordinary shares of £1 each
45,000
45,000



12.


Related party transactions

The Company has taken advantage of the exemption under FRS102 33.1A Related Party Disclosures not to disclose transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group.


13.


Controlling party

The directors regard Lessiters Holdings Limited as the ultimate parent undertaking. 

 
Page 9