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REGISTERED NUMBER: 05248426 (England and Wales)















LEYFIELDS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






LEYFIELDS LIMITED (REGISTERED NUMBER: 05248426)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


LEYFIELDS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: P I White
J K M White
M A Channing
C A Channing





SECRETARY: J K M White





REGISTERED OFFICE: Leyfields
Kneesall
Newark
Nottinghamshire
NG22 0AR





REGISTERED NUMBER: 05248426 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

LEYFIELDS LIMITED (REGISTERED NUMBER: 05248426)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Entitlements 4 5,481 8,220
Property, plant and equipment 5 5,644,290 5,365,211
5,649,771 5,373,431

CURRENT ASSETS
Inventories 498,689 895,843
Debtors 6 92,335 80,529
591,024 976,372
CREDITORS
Amounts falling due within one year 7 766,654 946,378
NET CURRENT (LIABILITIES)/ASSETS (175,630 ) 29,994
TOTAL ASSETS LESS CURRENT LIABILITIES 5,474,141 5,403,425

CREDITORS
Amounts falling due after more than one year 8 (2,941,717 ) (2,919,363 )

PROVISIONS FOR LIABILITIES (339,488 ) (293,062 )
NET ASSETS 2,192,936 2,191,000

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 2,191,936 2,190,000
SHAREHOLDERS' FUNDS 2,192,936 2,191,000

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

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

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 January 2025 and were signed on its behalf by:




J K M White - Director


LEYFIELDS LIMITED (REGISTERED NUMBER: 05248426)

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

1. STATUTORY INFORMATION

Leyfields Limited is a private company, limited by shares , registered in England and Wales. 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.

Revenue
Revenue represents net invoiced sales of goods, services and produce, excluding value added tax. Revenue from goods and services is recognised upon receipt of the good or performance of the service. Sales of produce are recognised upon despatch.

Entitlements
Entitlements consist of purchased entitlements and entitlements to the basic payment. The purchased entitlements are recognised at cost and written off on a straight line basis over their estimated useful lives.
The basic payment entitlements are recognised at fair value and written off on a straight line basis over the period to 31 December 2019, when the scheme ends.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance, 10% on reducing balance and 5% on cost

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
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.

Basic payment
The Basic payment is recognised in the financial statements in accordance with current H M Revenue & Customs guidance.

LEYFIELDS LIMITED (REGISTERED NUMBER: 05248426)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023 106,077
Disposals (86,901 )
At 30 June 2024 19,176
AMORTISATION
At 1 July 2023 97,857
Charge for year 2,739
Eliminated on disposal (86,901 )
At 30 June 2024 13,695
NET BOOK VALUE
At 30 June 2024 5,481
At 30 June 2023 8,220

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 4,246,607 1,957,886 6,204,493
Additions - 467,999 467,999
At 30 June 2024 4,246,607 2,425,885 6,672,492
DEPRECIATION
At 1 July 2023 73,245 766,037 839,282
Charge for year 5,417 183,503 188,920
At 30 June 2024 78,662 949,540 1,028,202
NET BOOK VALUE
At 30 June 2024 4,167,945 1,476,345 5,644,290
At 30 June 2023 4,173,362 1,191,849 5,365,211

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 15,200 56,778
Other debtors 77,135 23,751
92,335 80,529

LEYFIELDS LIMITED (REGISTERED NUMBER: 05248426)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 237,443 302,261
Hire purchase contracts 124,389 128,405
Trade creditors 84,615 50,654
Taxation and social security 29,461 158,685
Other creditors 290,746 306,373
766,654 946,378

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 2,728,939 2,877,196
Hire purchase contracts 212,778 42,167
2,941,717 2,919,363

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 1,977,540 2,124,675

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 49,593 114,131
Bank loans 2,916,789 3,065,326
Hire purchase contracts 337,167 170,572
3,303,549 3,350,029

Bank loans and overdraft are secured by a charge over the company's assets. Hire purchase contracts are secured on the asset to which they relate.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary shares 1 1,000 1,000