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LEGAT OWEN LIMITED

Registered Number
02185761
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

LEGAT OWEN LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

ATHERTON, Mark Thomas William
BUTLER, Andrew Timothy
DIAPER, Mark Richard
HOPLEY, Mark Laurence
LUTTON, Samuel James
POCHIN, Matthew John William
REES, William Henry Philip
SADLER, William James
TANSEY, Natalie Louise
TARJOMANI, Seyed Hesam
WIGFIELD, Susan

Company Secretary

WIGFIELD, Susan

Registered Address

Albion House Albion Street
Chester
CH1 1RQ

Registered Number

02185761 (England and Wales)
LEGAT OWEN LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3101,49466,234
101,49466,234
Current assets
Stocks4141,750202,000
Debtors1,189,0771,280,813
Cash at bank and on hand1,992,2401,896,601
3,323,0673,379,414
Creditors amounts falling due within one year5(1,062,061)(1,002,120)
Net current assets (liabilities)2,261,0062,377,294
Total assets less current liabilities2,362,5002,443,528
Provisions for liabilities6(18,787)(2,100)
Net assets2,343,7132,441,428
Capital and reserves
Called up share capital4,8704,870
Share premium86,11986,119
Profit and loss account2,252,7242,350,439
Shareholders' funds2,343,7132,441,428
The financial statements were approved and authorised for issue by the Board of Directors on 23 January 2025, and are signed on its behalf by:
WIGFIELD, Susan
Director
Registered Company No. 02185761
LEGAT OWEN LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue from sale of goods
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Plant and machinery20-
Fixtures and fittings-5
Vehicles25-
Office Equipment-3
Finance leases and hire purchase contracts
Rentals payable under operating leases are charged to profit or loss on a straight line over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year4141
3.Tangible fixed assets

Plant & machinery

Vehicles

Office Equipment

Total

££££
Cost or valuation
At 01 May 23-49,988193,202243,190
Additions32,05519,35029,74481,149
At 30 April 2432,05569,338222,946324,339
Depreciation and impairment
At 01 May 23-16,942160,014176,956
Charge for year6,41113,09926,37945,889
At 30 April 246,41130,041186,393222,845
Net book value
At 30 April 2425,64439,29736,553101,494
At 30 April 23-33,04633,18866,234
4.Stocks

2024

2023

££
Work in progress141,750202,000
Total141,750202,000
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables76,80084,541
Taxation and social security765,495662,534
Finance lease and HP contracts15,88219,330
Other creditors3,5123,718
Accrued liabilities and deferred income200,372231,997
Total1,062,0611,002,120
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)18,7872,100
Total18,7872,100
7.Other commitments
At the reporting date the company had outstanding commitments for future minimum lease payments under non-cancellable operating lease for £108,768 (2023 - £62,013).