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REGISTERED NUMBER: 07181532 (England and Wales)















Financial Statements for the Year Ended 31 March 2024

for

Leedex Construction Limited

Leedex Construction Limited (Registered number: 07181532)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Leedex Construction Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: H Tayefi
Dr P Tayefi





REGISTERED OFFICE: Unit 4A Lodge Works
Birchall Road
Knowsley Industrial Park
Liverpool
Merseyside
L33 7TD





REGISTERED NUMBER: 07181532 (England and Wales)





ACCOUNTANTS: Cobham Murphy PHD Limited
116 Duke Street
Liverpool
L1 5JW

Leedex Construction Limited (Registered number: 07181532)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 68,062 51,535
Investments 5 673 -
68,735 51,535

CURRENT ASSETS
Stocks 207,000 45,000
Debtors 6 176,585 208,654
Cash at bank and in hand 133,407 73,412
516,992 327,066
CREDITORS
Amounts falling due within one year 7 457,760 242,166
NET CURRENT ASSETS 59,232 84,900
TOTAL ASSETS LESS CURRENT
LIABILITIES

127,967

136,435

CREDITORS
Amounts falling due after more than one
year

8

(95,686

)

(126,324

)

PROVISIONS FOR LIABILITIES (17,015 ) (9,791 )
NET ASSETS 15,266 320

CAPITAL AND RESERVES
Called up share capital 300 300
Retained earnings 14,966 20
SHAREHOLDERS' FUNDS 15,266 320

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

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

Leedex Construction Limited (Registered number: 07181532)

Balance Sheet - continued
31 March 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 January 2025 and were signed on its behalf by:





H Tayefi - Director


Leedex Construction Limited (Registered number: 07181532)

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

1. STATUTORY INFORMATION

Leedex Construction Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 07181532 and the registered office is Unit 4A Lodge Works, Birchall Road, Knowsley Industrial Park, Liverpool L33 7TD.

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

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 consider that the going concern assumption is appropriate despite the loss and net current liability position as they believe they will be able to meet company obligations as they become due. The company receives support from its holding company and the directors are hoping that next 12 months will see the situation improve.

Significant judgements and estimates
There are no judgements (apart from those involving estimates) that have a significant effect on amounts recognised in the financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable on construction services, excluding discounts, rebates, value added tax and other sales taxes. revenue is recognised on completion of the developments.

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 cost and 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and new realisable value.

In accordance with FRS 102 para 25.2 the company adopts a policy of capitalising borrowing costs that are directly attributable to acquisition, construction, and production of a qualifying asset. Work in progress is an asset that takes a substantial period of time to get ready for its intended use or sale and meets the FRS 102 definition of a qualifying asset.

Financial instruments
Directors loans and intercompany loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

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.


Leedex Construction Limited (Registered number: 07181532)

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

2. ACCOUNTING POLICIES - continued
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 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.

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.

Fixed asset investments
Fixed asset investments are stated at fair value, which is market value. Any changes in value of investments is written to the profit and loss account in the year it is incurred.

No depreciation is provided for in respect of fixed asset investments . Such assets are held for their investment potential and not for consumption within the business. This is a departure from the Companies Act 2006 which requires all fixed assets to be depreciated, the directors consider that to depreciate them would not enable the financial statements to give a true and fair view.

3. EMPLOYEES AND DIRECTORS

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

Leedex Construction Limited (Registered number: 07181532)

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 157,750
Additions 35,133
At 31 March 2024 192,883
DEPRECIATION
At 1 April 2023 106,215
Charge for year 18,606
At 31 March 2024 124,821
NET BOOK VALUE
At 31 March 2024 68,062
At 31 March 2023 51,535

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

Plant and
machinery
etc
£   
COST
At 1 April 2023 29,099
Additions 34,948
At 31 March 2024 64,047
DEPRECIATION
At 1 April 2023 24,358
Charge for year 7,938
At 31 March 2024 32,296
NET BOOK VALUE
At 31 March 2024 31,751
At 31 March 2023 4,741

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31.3.24 31.3.23
£    £   
Other investments 673 -

Leedex Construction Limited (Registered number: 07181532)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 15,011 10,052
Amounts owed by participating interests 148,758 263
Other debtors 12,816 198,339
176,585 208,654

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 45,455 45,455
Hire purchase contracts 8,061 4,331
Trade creditors 77,125 16,862
Amounts owed to participating interests 203,347 114,997
Taxation and social security 40,465 (5,559 )
Other creditors 83,307 66,080
457,760 242,166

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 60,643 106,082
Hire purchase contracts 35,043 20,242
95,686 126,324

9. RELATED PARTY DISCLOSURES

Included within Other Creditors at the balance sheet date is £198,347 (2023: £114,997) owing to Leedex Group Ltd, the parent company and £5,000 (2023: £Nil) owing to Spotforth Ltd, a company related by virtue of common shareholders.
Included within Other Debtors at the balance sheet date is £148,313 (2023:£185,407l) owing from Leedex Properties Ltd, a company related by virtue of common shareholders.
These balances are due on demand therefore no interest has been charged.