Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3129truemechanical and electrical engineersfalse2023-04-0130falsefalse 00307258 2023-04-01 2024-03-31 00307258 2022-04-01 2023-03-31 00307258 2024-03-31 00307258 2023-03-31 00307258 2022-04-01 00307258 1 2023-04-01 2024-03-31 00307258 5 2023-04-01 2024-03-31 00307258 d:Director1 2023-04-01 2024-03-31 00307258 e:Buildings 2023-04-01 2024-03-31 00307258 e:Buildings 2024-03-31 00307258 e:Buildings 2023-03-31 00307258 e:Buildings e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00307258 e:PlantMachinery 2023-04-01 2024-03-31 00307258 e:PlantMachinery 2024-03-31 00307258 e:PlantMachinery 2023-03-31 00307258 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00307258 e:MotorVehicles 2023-04-01 2024-03-31 00307258 e:MotorVehicles 2024-03-31 00307258 e:MotorVehicles 2023-03-31 00307258 e:MotorVehicles e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00307258 e:FurnitureFittings 2023-04-01 2024-03-31 00307258 e:FurnitureFittings 2024-03-31 00307258 e:FurnitureFittings 2023-03-31 00307258 e:FurnitureFittings e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00307258 e:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 00307258 e:CurrentFinancialInstruments 2024-03-31 00307258 e:CurrentFinancialInstruments 2023-03-31 00307258 e:CurrentFinancialInstruments e:WithinOneYear 2024-03-31 00307258 e:CurrentFinancialInstruments e:WithinOneYear 2023-03-31 00307258 e:ShareCapital 2023-04-01 2024-03-31 00307258 e:ShareCapital 2024-03-31 00307258 e:ShareCapital 2023-03-31 00307258 e:ShareCapital 2022-04-01 00307258 e:RevaluationReserve 2023-04-01 2024-03-31 00307258 e:RevaluationReserve 2024-03-31 00307258 e:RevaluationReserve 1 2023-04-01 2024-03-31 00307258 e:RevaluationReserve 5 2023-04-01 2024-03-31 00307258 e:RevaluationReserve 2022-04-01 2023-03-31 00307258 e:RevaluationReserve 2023-03-31 00307258 e:RevaluationReserve 2022-04-01 00307258 e:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 00307258 e:RetainedEarningsAccumulatedLosses 2024-03-31 00307258 e:RetainedEarningsAccumulatedLosses 1 2023-04-01 2024-03-31 00307258 e:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 00307258 e:RetainedEarningsAccumulatedLosses 2023-03-31 00307258 e:RetainedEarningsAccumulatedLosses 2022-04-01 00307258 e:AcceleratedTaxDepreciationDeferredTax 2024-03-31 00307258 e:AcceleratedTaxDepreciationDeferredTax 2023-03-31 00307258 e:TaxLossesCarry-forwardsDeferredTax 2024-03-31 00307258 e:TaxLossesCarry-forwardsDeferredTax 2023-03-31 00307258 e:OtherDeferredTax 2024-03-31 00307258 e:OtherDeferredTax 2023-03-31 00307258 d:FRS102 2023-04-01 2024-03-31 00307258 d:Audited 2023-04-01 2024-03-31 00307258 d:FullAccounts 2023-04-01 2024-03-31 00307258 d:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00307258 d:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 00307258 2 2023-04-01 2024-03-31 00307258 4 2023-04-01 2024-03-31 00307258 5 2023-04-01 2024-03-31 00307258 e:MotorVehicles e:LeasedAssetsHeldAsLessee 2024-03-31 00307258 e:MotorVehicles e:LeasedAssetsHeldAsLessee 2023-03-31 00307258 e:LeasedAssetsHeldAsLessee 2024-03-31 00307258 e:LeasedAssetsHeldAsLessee 2023-03-31 00307258 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 00307258










LEYBOURNE URWIN LIMITED










FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
LEYBOURNE URWIN LIMITED
REGISTERED NUMBER: 00307258

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
486,057
383,176

  
486,057
383,176

Current assets
  

Stocks
  
45,000
278,607

Debtors: amounts falling due within one year
 6 
1,977,585
910,497

Cash at bank and in hand
 7 
1,618,466
1,012,184

  
3,641,051
2,201,288

Creditors: amounts falling due within one year
 8 
(2,305,072)
(996,358)

Net current assets
  
 
 
1,335,979
 
 
1,204,930

Total assets less current liabilities
  
1,822,036
1,588,106

Provisions for liabilities
  

Deferred tax
 9 
(33,327)
(42,072)

  
 
 
(33,327)
 
 
(42,072)

Net assets
  
1,788,709
1,546,034


Capital and reserves
  

Called up share capital 
  
5,000
5,000

Revaluation reserve
 10 
272,921
185,309

Profit and loss account
 10 
1,510,788
1,355,725

  
1,788,709
1,546,034


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 27 November 2024.




Page 1

 
LEYBOURNE URWIN LIMITED
REGISTERED NUMBER: 00307258
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

................................................
C Urwin
Director

The notes on pages 4 to 13 form part of these financial statements.

Page 2

 
LEYBOURNE URWIN LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024


Called up share capital
Revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 April 2022
5,000
190,430
1,501,529
1,696,959



Profit for the year
-
-
461,320
461,320

Dividends: Equity capital
-
-
(612,245)
(612,245)

Transfer to/from profit and loss account
-
(5,121)
5,121
-



At 1 April 2023
5,000
185,309
1,355,725
1,546,034



Profit for the year

-
-
809,886
809,886

Surplus on revaluation of freehold property
-
120,008
-
120,008

Deferred tax on revaluation movement
-
(13,750)
-
(13,750)


Other comprehensive income for the year
-
106,258
-
106,258

Dividends: Equity capital
-
-
(673,469)
(673,469)

Transfer to/from profit and loss account
-
(18,646)
18,646
-


At 31 March 2024
5,000
272,921
1,510,788
1,788,709


The notes on pages 4 to 13 form part of these financial statements.
Page 3

 
LEYBOURNE URWIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Leybourne Urwin Limited is a private company limited by shares incorporated in England and Wales, company number 00307258. The registered office and place of business is Cramar House, Tanfield Industrial Estate, Stanley, County Durham, DH9 9QT. 

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 prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company had net assets of £1,788,709 as at 31 March 2024, including cash at bank and in hand of £1,618,466 and generated a profit before tax for the year then ended of £1,114,185.
Whilst the directors do not prepare formal cash flow forecasts, it is expected that the Company will have sufficient funds to meet its liabilities as they fall due for at least the next 12 months.
The Company is financed by profits retained within the business. The Company has no external finance, other than secured hire purchase contracts. The company expects to remain profitable and be able to operate well within its future retained cashflows.
Consequently, the directors are confident they will have sufficient funds to continue to meet liabilities as they fall due for at least 12 months from the date of approval of the financial statements and therefore have prepared the financial statements on the going concern basis.

Page 4

 
LEYBOURNE URWIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

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

 
2.5

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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 5

 
LEYBOURNE URWIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.6

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 balance sheet 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 balance sheet 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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

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.

 
2.8

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.

Page 6

 
LEYBOURNE URWIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both straight line and reducing balance methods.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line basis
Plant and machinery
-
15% reducing balance basis
Motor vehicles
-
25% reducing balance basis
Fixtures and fittings
-
15% reducing balance basis or 20% straight line basis

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.

 
2.9

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.10

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 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.

 
2.11

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.

Page 7

 
LEYBOURNE URWIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.12

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.

 
2.13

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.

 
2.14

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.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.


Page 8

 
LEYBOURNE URWIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.16

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.


Judgements in applying accounting policies and key sources of estimation uncertainty

The directors consider the only significant source of estimation uncertainty to be the calculation of amounts recoverable on long term contracts. 
As noted in accounting policy 2.3 this is calculated based on stage of completion of the contract, estimates of costs to complete and probability of receipt. 


4.


Employees

The average monthly number of employees, including directors, during the year was 30 (2023 - 29).

Page 9

 
LEYBOURNE URWIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 April 2023
377,346
30,835
114,916
211,929
735,026


Additions
-
-
-
1,250
1,250


Revaluations
55,000
-
-
-
55,000



At 31 March 2024

432,346
30,835
114,916
213,179
791,276



Depreciation


At 1 April 2023
65,008
26,388
62,301
198,153
351,850


Charge for the year on owned assets
-
973
13,153
4,251
18,377


On revalued assets
(65,008)
-
-
-
(65,008)



At 31 March 2024

-
27,361
75,454
202,404
305,219



Net book value



At 31 March 2024
432,346
3,474
39,462
10,775
486,057



At 31 March 2023
312,338
4,447
52,615
13,776
383,176

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
-
10,569

-
10,569

Page 10

 
LEYBOURNE URWIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
Cost or valuation at 31 March 2024 is as follows:

Land and buildings
£


At cost
121,314
At valuation:

Freehold property was professionally valued by Youngs RPS, Chartered Surveyors & Property Consultants, as at 21 June 2024 at an open market value of £380,000. 
 
In the opinion of the directors this valuation remains appropriate and the property has been depreciated from this point onwards over its estimated useful life. 
311,032



432,346

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
121,314
121,314

Accumulated depreciation
(15,178)
(13,798)

Net book value
106,136
107,516

Freehold property includes land at cost of £52,346 which has not been revalued and is not depreciated. 


6.


Debtors

2024
2023
£
£


Trade debtors
162,576
43,740

Other debtors
96,485
46,764

Prepayments and accrued income
6,868
193,246

Amounts recoverable on long term contracts
1,711,656
626,747

1,977,585
910,497


Page 11

 
LEYBOURNE URWIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,618,466
1,012,184

1,618,466
1,012,184



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
1,828,177
668,658

Corporation tax
326,794
100,911

Other taxation and social security
28,846
28,267

Obligations under finance lease and hire purchase contracts
-
3,494

Other creditors
2,976
-

Accruals and deferred income
118,279
195,028

2,305,072
996,358



9.


Deferred taxation




2024


£






At beginning of year
(42,072)


Charged to profit or loss
22,495


Charged to other comprehensive income
(13,750)



At end of year
(33,327)

Page 12

 
LEYBOURNE URWIN LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(13,428)
(17,710)

Short term timing differences
18,213
-

Revaluation of freehold property
(38,112)
(24,362)

(33,327)
(42,072)


10.


Reserves

Revaluation reserve

The revaluation reserve represents the unrealised surplus on revaluation of the freehold property.

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses net of distributions to owners. 


11.


Pension commitments

The Company operates several defined contributions pension schemes. The assets of the schemes are held separately from those of the Company in independently administered funds. The pension cost charge represents contributions payable by the Company to the funds and amounted to £211,578 (2023 £60,645). Contributions totalling £72,850 (2023 £nil) were payable to the pension schemes at the balance sheet date.


12.


Controlling party

There is no party with a controlling interest in the share capital of the Company.


13.


Auditors' information

The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.

The audit report was signed on 27 November 2024 by Jon Routledge (Senior Statutory Auditor) on behalf of Ryecroft Glenton.

 
Page 13