Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.No description of principal activity20202023-05-01falsetruetruefalse 00735448 2023-05-01 2024-04-30 00735448 2022-05-01 2023-04-30 00735448 2024-04-30 00735448 2023-04-30 00735448 c:CompanySecretary1 2023-05-01 2024-04-30 00735448 c:Director1 2023-05-01 2024-04-30 00735448 c:Director2 2023-05-01 2024-04-30 00735448 c:Director3 2023-05-01 2024-04-30 00735448 c:RegisteredOffice 2023-05-01 2024-04-30 00735448 c:Agent1 2023-05-01 2024-04-30 00735448 d:Buildings 2023-05-01 2024-04-30 00735448 d:Buildings 2024-04-30 00735448 d:Buildings 2023-04-30 00735448 d:Buildings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 00735448 d:PlantMachinery 2023-05-01 2024-04-30 00735448 d:PlantMachinery 2024-04-30 00735448 d:PlantMachinery 2023-04-30 00735448 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 00735448 d:MotorVehicles 2023-05-01 2024-04-30 00735448 d:MotorVehicles 2024-04-30 00735448 d:MotorVehicles 2023-04-30 00735448 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 00735448 d:FurnitureFittings 2023-05-01 2024-04-30 00735448 d:FurnitureFittings 2024-04-30 00735448 d:FurnitureFittings 2023-04-30 00735448 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 00735448 d:OfficeEquipment 2023-05-01 2024-04-30 00735448 d:ComputerEquipment 2023-05-01 2024-04-30 00735448 d:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 00735448 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 00735448 d:CurrentFinancialInstruments 2024-04-30 00735448 d:CurrentFinancialInstruments 2023-04-30 00735448 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 00735448 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 00735448 d:ShareCapital 2024-04-30 00735448 d:ShareCapital 2023-04-30 00735448 d:RevaluationReserve 2024-04-30 00735448 d:RevaluationReserve 2023-04-30 00735448 d:RetainedEarningsAccumulatedLosses 2024-04-30 00735448 d:RetainedEarningsAccumulatedLosses 2023-04-30 00735448 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-05-01 2024-04-30 00735448 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2024-04-30 00735448 d:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2023-04-30 00735448 c:FRS102 2023-05-01 2024-04-30 00735448 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 00735448 c:FullAccounts 2023-05-01 2024-04-30 00735448 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 00735448 d:WithinOneYear 2024-04-30 00735448 d:WithinOneYear 2023-04-30 00735448 d:BetweenOneFiveYears 2024-04-30 00735448 d:BetweenOneFiveYears 2023-04-30 00735448 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 00735448 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 00735448 d:TaxLossesCarry-forwardsDeferredTax 2024-04-30 00735448 d:TaxLossesCarry-forwardsDeferredTax 2023-04-30 00735448 d:RetirementBenefitObligationsDeferredTax 2024-04-30 00735448 d:RetirementBenefitObligationsDeferredTax 2023-04-30 00735448 5 2023-05-01 2024-04-30 00735448 6 2023-05-01 2024-04-30 00735448 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 00735448









LEE-DICKENS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

 
LEE-DICKENS LIMITED
 
 
COMPANY INFORMATION


Directors
M C Dickens 
G A Dickens 
A P Needham 




Company secretary
M C Dickens



Registered number
00735448



Registered office
Rushton Road
Desborough

Kettering

Northants

NN14 2QW




Accountants
Grant Thornton UK LLP
Chartered Accountants

Victoria House

199 Avebury Boulevard

Milton Keynes

MK9 1AU




Bankers
HSBC Bank Plc
22 Abington Street

Northampton

Northants

NN1 2AN




Solicitors
Shoosmiths
The Lakes

Northampton

Northants

NN4 7SH





 
LEE-DICKENS LIMITED
 

CONTENTS



Page
Accountant's report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 13


  
  img4018.png
Report to the directors on the preparation of the unaudited statutory financial statements of Lee-Dickens Limited for the year ended 30 April 2024 

We have compiled the accompanying financial statements of Lee-Dickens Limited (the ‘company’)  based on the information you have provided. These financial statements comprise the Balance Sheet of Lee-Dickens Limited as at 30 April 2024 and a summary of significant accounting policies and other explanatory information. 

We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), 'Compilation Engagements'.

We have applied our expertise in accounting and financial reporting to assist you in the preparation and presentation of these financial statements in accordance with applicable law and United Kingdom Accounting Standardsincluding Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). As a member firm of the Institute of Chartered Accountants in England and Waleswe are subject to its ethical and other professional requirements which are detailed at www.icaew.com.

These financial statements and the accuracy and completeness of the information used to compile them are your responsibility.

Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with United Kingdom Generally Accepted Accounting Practice.

This report is made solely to the Company's directors, as a body, in accordance with the terms of our engagement letter dated 18 November 2024Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the Company's directors, as a body, in this report in accordance with our engagement letter dated 18 November 2024. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its directors, as a body, for our work or for this report.




Grant Thornton UK LLP
 
Chartered Accountants
  
Milton Keynes

30 January 2025
Page 1

 
LEE-DICKENS LIMITED
REGISTERED NUMBER:00735448

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
307,636
311,595

Investments
 5 
11,028
10,633

  
318,664
322,228

Current assets
  

Stocks
  
977,554
835,365

Debtors: amounts falling due within one year
 6 
502,615
449,887

Cash at bank and in hand
  
238,856
196,580

  
1,719,025
1,481,832

Creditors: amounts falling due within one year
 7 
(1,152,314)
(1,043,590)

Net current assets
  
 
 
566,711
 
 
438,242

Total assets less current liabilities
  
885,375
760,470

Provisions for liabilities
  

Deferred tax
 8 
-
(61,309)

Provision for liabilities
 9 
(148,190)
(111,951)

  
 
 
(148,190)
 
 
(173,260)

Net assets
  
737,185
587,210


Capital and reserves
  

Called up share capital 
  
30,000
30,000

Revaluation reserve
  
128,485
130,795

Profit and loss account
  
578,700
426,415

Total equity
  
737,185
587,210


Page 2

 
LEE-DICKENS LIMITED
REGISTERED NUMBER:00735448
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




M C Dickens
Director

Date: 30 January 2025

The notes on pages 4 to 13 form part of these financial statements.

Page 3

 
LEE-DICKENS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Lee-Dickens Limited is a private company limited by shares and is registered in England and Wales.
Registered number: 00735448
Registered office: 
Rushton Road
Desborough
Kettering
Northants
NN14 2QW

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have assessed the company’s ability to operate as a going concern for the next 12 months from the date of signing the financial statements. 
The directors believe that it remains appropriate to continue to adopt the going concern basis in preparing these financial statements.

 
2.3

Revenue

Revenue from the provision of engineering and monitoring systems is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. For systems sold, as well as the initial sale there are also on-going services provided in relation to the system. Revenue for these is recognised in the period to which the service is provided. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Page 4

 
LEE-DICKENS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.3
Revenue (continued)

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the company in independently administered funds.

Page 5

 
LEE-DICKENS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.6

Foreign currency translation

Functional and presentation currency

The company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 6

 
LEE-DICKENS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases.


Freehold buildings
-
2% straight line per annum
Plant & machinery - limited licence software
-
20% straight line per annum
Plant & machinery - other
-
10-12.5% straight line per annum
Motor Vehicles
-
25% reducing balance
Office equipment - computer equipment
-
20% straight line per annum
Office equipment - other
-
10% straight line per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Land is not depreciated.

 
2.9

Revaluation of tangible fixed assets

As originally permitted by the transitional provisions of FRS 15 Tangible Fixed Assets the Company previously elected not to adopt a policy of revaluation of tangible fixed assets. On transition to FRS 102 the Company retained the book value of land and buildings, previously revalued at 1989, and has adopted that carrying value as deemed cost going forward.
An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.

 
2.10

Valuation of investments

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.11

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

Page 7

 
LEE-DICKENS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's Balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.
Page 8

 
LEE-DICKENS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.14

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.15

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.


3.


Employees

The average monthly number of employees, including directors, during the year was 20 (2023: 20).

Page 9

 
LEE-DICKENS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Tangible fixed assets





Freehold property
Plant & machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 May 2023
377,671
243,740
62,623
169,763
853,797


Additions
-
5,457
7,500
1,327
14,284



At 30 April 2024

377,671
249,197
70,123
171,090
868,081



Depreciation


At 1 May 2023
104,879
233,666
43,077
160,580
542,202


Charge for the year
4,560
2,508
6,762
4,413
18,243



At 30 April 2024

109,439
236,174
49,839
164,993
560,445



Net book value



At 30 April 2024
268,232
13,023
20,284
6,097
307,636



At 30 April 2023
272,792
10,074
19,546
9,183
311,595


The freehold land and buildings were last revalued in 1989. The directors do not consider the value of the property has changed from the previous valuation.

If the freehold property had not been included at valuation it would have been included under the historical cost convention as follows:


2024
2023
£
£



Cost
132,437
132,437

Accumulated depreciation
(54,000)
(51,750)

Net book value
78,437
80,687

Page 10

 
LEE-DICKENS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Fixed asset investments





Listed investments

£



Valuation


At 1 May 2023
10,633


Additions
58


Fair value movements
337



At 30 April 2024
11,028




The original cost of the investment was £3,256 (2023: £3,198).


6.


Debtors: amounts falling due within one year

2024
2023
£
£


Trade debtors
478,045
421,860

Other debtors
24,570
28,027

502,615
449,887


Included within debtors are advancements from debt factors, which are secured against the Company's trade debtors. At the year end, amounts were owed to the debt factors totalling £655 (2023: amounts owing from the debt factors totalling £1,525).


7.


Creditors: amounts falling due within one year

2024
2023
£
£

Trade creditors
120,429
223,930

Other taxation and social security
585,926
499,724

Other creditors
255,457
228,769

Accruals and deferred income
190,502
91,167

1,152,314
1,043,590


Other creditors include a directors loan account totalling £150,457 (2023: £123,769), which is interest free, unsecured and repayable on demand.

Page 11

 
LEE-DICKENS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Deferred taxation




2024


£






At beginning of period
(61,309)


Charged to profit or loss
61,309



At end of period
-

The deferred taxation balance is made up as follows:

2024
2023
£
£


Capital gains
(61,309)
(61,309)

Fixed asset timing differences
839
-

Losses and other deductions
60,470
-

-
(61,309)


9.


Provisions




Provision for liabilities

£





At 1 May 2023
111,951


Charged to profit or loss
36,239



At 30 April 2024
148,190


10.


Contingent liabilities

There were contingent liabilities at 30 April 2024 in respect of a guarantee to Her Majesty's Revenue & Customs in respect of import duties totalling £20,000 (2023: £20,000).


11.


Pension commitments

The company operates defined contribution pension schemes for the benefit of directors and other employees. The assets of the schemes are administered by trustees in funds independent from those of the company. Contributions totalling £891 (2023: £753) were payable to the fund at the balance sheet date and are included in creditors.

Page 12

 
LEE-DICKENS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

12.


Commitments under operating leases

At 30 April 2024 the company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
6,048
6,048

Later than 1 year and not later than 5 years
5,544
11,592

11,592
17,640


13.


Related party transactions

At the balance sheet date the company owed £30,000 (2023: £30,000) to a family member of a director, which bears interest at 4% and is repayable on demand. The company also owed £75,000 (2023: £75,000) to the estates of family members of the directors, which is interest free and repayable on demand. These amounts are included within other creditors.
At the balance sheet date the company owed £150,457 (2023: £123,769) to directors in respect of a trading balance. The balance is interest free, unsecured and deemed repayable on demand. This is included within other creditors. 

Page 13