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REGISTERED NUMBER: SC048774 (Scotland)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Lesmac (Fasteners) Limited

Lesmac (Fasteners) Limited (Registered number: SC048774)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lesmac (Fasteners) Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: E R Kneale
Mrs L Cameron





REGISTERED OFFICE: 73 Dykehead Street
Queenslie Industrial Estate
Glasgow
G33 4AQ





REGISTERED NUMBER: SC048774 (Scotland)





ACCOUNTANTS: Graham & Co. (Accountants) Limited
76 Dumbarton Road
Clydebank
Glasgow
G81 1UG

Lesmac (Fasteners) Limited (Registered number: SC048774)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 87,825 93,211
Investments 5 - 251,250
87,825 344,461

CURRENT ASSETS
Stocks 370,818 344,420
Debtors 6 857,409 606,594
Cash at bank 1,276,987 1,118,189
2,505,214 2,069,203
CREDITORS
Amounts falling due within one year 7 484,683 387,701
NET CURRENT ASSETS 2,020,531 1,681,502
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,108,356

2,025,963

CREDITORS
Amounts falling due after more than one
year

8

(10,267

)

(39,631

)

PROVISIONS FOR LIABILITIES (13,377 ) (13,377 )
NET ASSETS 2,084,712 1,972,955

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 2,084,512 1,972,755
SHAREHOLDERS' FUNDS 2,084,712 1,972,955

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

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

Lesmac (Fasteners) Limited (Registered number: SC048774)

Balance Sheet - continued
31 May 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 20 November 2024 and were signed on its behalf by:





E R Kneale - Director


Lesmac (Fasteners) Limited (Registered number: SC048774)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Lesmac (Fasteners) Limited 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.

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.
Improvements to property - 5% on reducing balance
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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

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 14 (2023 - 13 ) .

Lesmac (Fasteners) Limited (Registered number: SC048774)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 June 2023 5,217 126,572 24,456 115,439 271,684
Additions - - - 37,339 37,339
Disposals - - - (15,417 ) (15,417 )
At 31 May 2024 5,217 126,572 24,456 137,361 293,606
DEPRECIATION
At 1 June 2023 5,217 102,931 18,547 51,778 178,473
Charge for year - 4,728 1,182 21,398 27,308
At 31 May 2024 5,217 107,659 19,729 73,176 205,781
NET BOOK VALUE
At 31 May 2024 - 18,913 4,727 64,185 87,825
At 31 May 2023 - 23,641 5,909 63,661 93,211

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2023 251,250
Impairments (251,250 )
At 31 May 2024 -
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 251,250

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 198,953 245,517
Amounts owed by group undertakings 400,000 300,000
Other debtors 258,456 61,077
857,409 606,594

Lesmac (Fasteners) Limited (Registered number: SC048774)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 137,705 10,000
Hire purchase contracts 8,604 17,616
Trade creditors 206,854 241,274
Taxation and social security 24,226 24,226
Other creditors 107,294 94,585
484,683 387,701

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans - 20,761
Hire purchase contracts 10,267 18,870
10,267 39,631

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £75,000 were paid to the directors .

Creditors includes £96,914 due to a director.

Debtors includes £400,000 due by subsidiary company Lesmac Flexible Solutions Ltd and £258,039 due by Lesmac Properties Ltd, a company controlled by a director.