IRIS Accounts Production v24.3.2.46 SC318034 director 1.5.23 30.4.24 30.4.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC3180342023-04-30SC3180342024-04-30SC3180342023-05-012024-04-30SC3180342022-04-30SC3180342022-05-012023-04-30SC3180342023-04-30SC318034ns15:Scotland2023-05-012024-04-30SC318034ns14:PoundSterling2023-05-012024-04-30SC318034ns10:Director12023-05-012024-04-30SC318034ns10:PrivateLimitedCompanyLtd2023-05-012024-04-30SC318034ns10:SmallEntities2023-05-012024-04-30SC318034ns10:AuditExemptWithAccountantsReport2023-05-012024-04-30SC318034ns10:SmallCompaniesRegimeForDirectorsReport2023-05-012024-04-30SC318034ns10:SmallCompaniesRegimeForAccounts2023-05-012024-04-30SC318034ns10:FullAccounts2023-05-012024-04-30SC31803412023-05-012024-04-30SC318034ns10:RegisteredOffice2023-05-012024-04-30SC318034ns5:CurrentFinancialInstruments2024-04-30SC318034ns5:CurrentFinancialInstruments2023-04-30SC318034ns5:Non-currentFinancialInstruments2024-04-30SC318034ns5:Non-currentFinancialInstruments2023-04-30SC318034ns5:ShareCapital2024-04-30SC318034ns5:ShareCapital2023-04-30SC318034ns5:RetainedEarningsAccumulatedLosses2024-04-30SC318034ns5:RetainedEarningsAccumulatedLosses2023-04-30SC318034ns5:NetGoodwill2023-05-012024-04-30SC318034ns5:IntangibleAssetsOtherThanGoodwill2023-05-012024-04-30SC318034ns5:PlantMachinery2023-05-012024-04-30SC318034ns5:NetGoodwill2023-04-30SC318034ns5:NetGoodwill2024-04-30SC318034ns5:NetGoodwill2023-04-30SC318034ns5:PlantMachinery2023-04-30SC318034ns5:PlantMachinery2024-04-30SC318034ns5:PlantMachinery2023-04-30SC318034ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-04-30SC318034ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-05-012024-04-30SC318034ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2024-04-30SC318034ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-04-30SC318034ns5:WithinOneYearns5:CurrentFinancialInstruments2024-04-30SC318034ns5:WithinOneYearns5:CurrentFinancialInstruments2023-04-30SC318034ns5:Secured2024-04-30SC318034ns5:Secured2023-04-30SC3180341ns10:Director12023-04-30SC3180341ns10:Director12022-04-30SC3180341ns10:Director12023-05-012024-04-30SC3180341ns10:Director12022-05-012023-04-30SC3180341ns10:Director12024-04-30SC3180341ns10:Director12023-04-30
REGISTERED NUMBER: SC318034 (Scotland)















Unaudited Financial Statements for the Year Ended 30 April 2024

for

Katrina Leckie Ltd.

Katrina Leckie Ltd. (Registered number: SC318034)






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

Chartered Accountants' Report 9

Katrina Leckie Ltd.

Company Information
for the Year Ended 30 April 2024







DIRECTOR: K Leckie





REGISTERED OFFICE: 10-12 John Street
Coatbridge
ML5 3EJ





REGISTERED NUMBER: SC318034 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

Katrina Leckie Ltd. (Registered number: SC318034)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 28,000 31,500
Tangible assets 6 34,378 39,226
62,378 70,726

CURRENT ASSETS
Stocks 4,205 4,425
Debtors 7 42,247 47,099
Cash at bank 1,444 1,487
47,896 53,011
CREDITORS
Amounts falling due within one year 8 48,822 48,909
NET CURRENT (LIABILITIES)/ASSETS (926 ) 4,102
TOTAL ASSETS LESS CURRENT
LIABILITIES

61,452

74,828

CREDITORS
Amounts falling due after more than one
year

9

(67,153

)

(90,477

)

PROVISIONS FOR LIABILITIES (6,191 ) (4,284 )
NET LIABILITIES (11,892 ) (19,933 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (11,992 ) (20,033 )
SHAREHOLDERS' FUNDS (11,892 ) (19,933 )

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 director acknowledges her 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.

Katrina Leckie Ltd. (Registered number: SC318034)

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 director and authorised for issue on 17 January 2025 and were signed by:





K Leckie - Director


Katrina Leckie Ltd. (Registered number: SC318034)

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

1. STATUTORY INFORMATION

Katrina Leckie 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a going concern basis as the company has been supported by bank loans and finance.

Turnover
Turnover is derived from optical services supplied by the company.

Turnover is measured at the fair value of optical services supplied, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 20% on reducing balance and 10% on reducing balance

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £500 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred.

Katrina Leckie Ltd. (Registered number: SC318034)

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

3. ACCOUNTING POLICIES - continued

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

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to the income statement as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amounts of stocks recognised as an expense in the period in which the reversal occurs.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts 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 the profit and loss account so as to produce a constant periodic rate of charge on the net obligation in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income statement on a straight line basis.

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.

Katrina Leckie Ltd. (Registered number: SC318034)

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

3. ACCOUNTING POLICIES - continued

Going concern
The director believes that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, she has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the company continues to adopt the going concern basis of accounting in preparing the financial statements

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 70,000
AMORTISATION
At 1 May 2023 38,500
Charge for year 3,500
At 30 April 2024 42,000
NET BOOK VALUE
At 30 April 2024 28,000
At 30 April 2023 31,500

6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 181,855
DEPRECIATION
At 1 May 2023 142,629
Charge for year 4,848
At 30 April 2024 147,477
NET BOOK VALUE
At 30 April 2024 34,378
At 30 April 2023 39,226

Katrina Leckie Ltd. (Registered number: SC318034)

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

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 25,520
DEPRECIATION
At 1 May 2023 5,104
Charge for year 4,083
At 30 April 2024 9,187
NET BOOK VALUE
At 30 April 2024 16,333
At 30 April 2023 20,416

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 8,167 7,063
Other debtors 34,080 40,036
42,247 47,099

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 26,997 27,934
Finance leases 3,603 3,603
Trade creditors 3,467 3,986
Taxation and social security 5,578 1,110
Other creditors 9,177 12,276
48,822 48,909

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 52,442 72,163
Finance leases 14,711 18,314
67,153 90,477

Katrina Leckie Ltd. (Registered number: SC318034)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2024 2023
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 7,697 14,948

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 72,171 91,384

A bank loan is secured by a bond and floating charge over the assets of the company and a personal guarantee for £60,000 by K Leckie.

Another bank loan is supported by a 100% guarantee from the UK Government.

Finance lease contracts are secured over the assets concerned.

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 April 2024 and 30 April 2023:

2024 2023
£    £   
K Leckie
Balance outstanding at start of year 16,443 35,704
Amounts advanced 8,524 -
Amounts repaid - (19,261 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 24,967 16,443

There are no fixed repayment terms and no interest was charged.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Katrina Leckie Ltd.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Katrina Leckie Ltd. for the year ended 30 April 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the director of Katrina Leckie Ltd. in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Katrina Leckie Ltd. and state those matters that we have agreed to state to the director of Katrina Leckie Ltd. in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Katrina Leckie Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Katrina Leckie Ltd.. You consider that Katrina Leckie Ltd. is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Katrina Leckie Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


17 January 2025