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Unaudited Financial Statements for the Year Ended 30 April 2024

for

Lecs Upholstery Ltd

Lecs Upholstery Ltd (Registered number: SC300399)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lecs Upholstery Ltd

Company Information
for the Year Ended 30 April 2024







DIRECTORS: S L King
L Phillips





REGISTERED OFFICE: Unit 1
Lochlands Business Park
Larbert
Stirlingshire
FK5 3NS





REGISTERED NUMBER: SC300399 (Scotland)





ACCOUNTANTS: Ian Macfarlane Limited
Chartered Accountants
2 Melville Street
Falkirk
FK1 1HZ

Lecs Upholstery Ltd (Registered number: SC300399)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 62,097 29,202

CURRENT ASSETS
Stocks 60,339 89,865
Debtors 5 224,719 170,575
Cash at bank and in hand 71,567 182,573
356,625 443,013
CREDITORS
Amounts falling due within one year 6 319,070 295,506
NET CURRENT ASSETS 37,555 147,507
TOTAL ASSETS LESS CURRENT
LIABILITIES

99,652

176,709

CREDITORS
Amounts falling due after more than one year 7 59,924 42,028
NET ASSETS 39,728 134,681

CAPITAL AND RESERVES
Called up share capital 8 1,000 1,000
Retained earnings 38,728 133,681
SHAREHOLDERS' FUNDS 39,728 134,681

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 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.

Lecs Upholstery Ltd (Registered number: SC300399)

Balance Sheet - continued
30 April 2024


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 Board of Directors and authorised for issue on 23 October 2024 and were signed on its behalf by:





S L King - Director


Lecs Upholstery Ltd (Registered number: SC300399)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Lecs Upholstery Ltd is a private company, limited by shares , registered in Scotland. 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.

The directors are aware of the balance sheet position of the company. They are one of the main creditors of the company and will look to continue to support the company for the foreseeable future. Based on this the accounts have been prepared on a going concern basis.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 33% on reducing balance and 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

Lecs Upholstery Ltd (Registered number: SC300399)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 16 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023 100,934
Additions 64,840
Disposals (42,820 )
At 30 April 2024 122,954
DEPRECIATION
At 1 May 2023 71,732
Charge for year 20,600
Eliminated on disposal (31,475 )
At 30 April 2024 60,857
NET BOOK VALUE
At 30 April 2024 62,097
At 30 April 2023 29,202

Lecs Upholstery Ltd (Registered number: SC300399)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 64,840
At 30 April 2024 64,840
DEPRECIATION
Charge for year 16,210
At 30 April 2024 16,210
NET BOOK VALUE
At 30 April 2024 48,630

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 223,159 167,067
Other debtors 1,560 3,508
224,719 170,575

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Hire purchase contracts 19,192 11,205
Trade creditors 87,941 77,516
Taxation and social security 102,827 98,101
Other creditors 109,110 108,684
319,070 295,506

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 20,175 30,833
Hire purchase contracts 39,749 11,195
59,924 42,028

Lecs Upholstery Ltd (Registered number: SC300399)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
490 A Ordinary £1 490 490
490 B Ordinary £1 490 490
10 C Ordinaryy £1 10 10
10 D Ordinary £1 10 10
1,000 1,000