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REGISTERED NUMBER: 02131280 (England and Wales)





















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

L.A. METALS LIMITED

L.A. METALS LIMITED (REGISTERED NUMBER: 02131280)






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




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


L.A. METALS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr J P Mullally
Mrs K Mullally
Mr J P Bates





REGISTERED OFFICE: Corner of Roebuck Lane & Dartmouth Road
Smethwick
Warley
West Midlands
B66 1BY





REGISTERED NUMBER: 02131280 (England and Wales)





ACCOUNTANTS: E R Grove & Co Limited
Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
L.A. METALS LIMITED

The following reproduces the text of the report prepared for the directors 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 Directors 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 L.A. Metals Limited for the year ended 30 June 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of L.A. Metals Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of L.A. Metals Limited and state those matters that we have agreed to state to the Board of Directors of L.A. Metals Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than L.A. Metals Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that L.A. Metals Limited 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 L.A. Metals Limited. You consider that L.A. Metals Limited 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 L.A. Metals Limited. 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.






E R Grove & Co Limited
Grove House
Coombs Wood Court
Steel Park Road
Halesowen
West Midlands
B62 8BF


11 March 2025

L.A. METALS LIMITED (REGISTERED NUMBER: 02131280)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 2,304
Tangible assets 5 423,029 333,097
423,029 335,401

CURRENT ASSETS
Stocks 1,493,937 1,574,888
Debtors 6 2,698,479 2,894,901
Cash at bank and in hand 935,331 466,297
5,127,747 4,936,086
CREDITORS
Amounts falling due within one year 7 1,628,998 1,625,943
NET CURRENT ASSETS 3,498,749 3,310,143
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,921,778

3,645,544

CREDITORS
Amounts falling due after more than one
year

8

(85,027

)

(14,253

)

PROVISIONS FOR LIABILITIES (105,757 ) (83,196 )
NET ASSETS 3,730,994 3,548,095

CAPITAL AND RESERVES
Called up share capital 20,000 20,000
Retained earnings 3,710,994 3,528,095
SHAREHOLDERS' FUNDS 3,730,994 3,548,095

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.

L.A. METALS LIMITED (REGISTERED NUMBER: 02131280)

BALANCE SHEET - continued
30 JUNE 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 11 March 2025 and were signed on its behalf by:





Mr J P Mullally - Director


L.A. METALS LIMITED (REGISTERED NUMBER: 02131280)

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

1. STATUTORY INFORMATION

L.A. Metals 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.

Turnover
Turnover is the amount derived from the sale of goods and services falling within the company's ordinary activities (excluding Value Added Tax).

Turnover from the provision of goods is recognised when the risks and rewards of ownership of goods have been transferred to the customer. The risks and rewards of ownership of goods are deemed to have been transferred when the goods are shipped to, or are picked up by the customer.

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.

Computer software is being amortised evenly over its estimated useful life of four years.

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.
Improvements to property - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

Stocks
Stock, which consists only of raw materials, has been valued by the directors at the lower of cost and estimated selling price less cost to sell. Cost is determined using the first in first out method.

The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

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.

L.A. METALS LIMITED (REGISTERED NUMBER: 02131280)

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

2. ACCOUNTING POLICIES - continued

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.

Invoice discounting
The company operated an invoice discounting agreement during the period. Because of the terms under which this agreement operates the directors are of the opinion that a separate presentation is appropriate and that the interest rate is considered to be a fair market rate. Under this presentation debtors are shown gross within trade debtors until they are cleared by the customer. The invoice discounting creditor is included within other creditors and represents amounts advanced to the company plus the banks charges less amounts received from debtors in respect of the discounted invoices.

Charges are recognised in the Income Statement as the accrue.

Financial instruments
With few exceptions, the company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as cash, trade and other accounts receivable and payable and loans from banks and other third parties, including related parties.

Basic financial instruments such as those above are recognised in the financial statements at amortised cost.

Any exception to the above are either immaterial or do not affect more than one accounting period.

Financial assets and liabilities relating to the balances owed by and to group companies are offset, and the net amount is reported in the balance sheet, where there is an intention to settle on a net basis. Balances owed by or to group companies are interest free and repayable on demand.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 37 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
At 1 July 2023 7,293
Disposals (7,293 )
At 30 June 2024 -
AMORTISATION
At 1 July 2023 4,989
Amortisation for year 2,304
Eliminated on disposal (7,293 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 2,304

L.A. METALS LIMITED (REGISTERED NUMBER: 02131280)

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2023 22,412 317,246 24,140
Additions - 32,220 147
Disposals - (1,100 ) -
Reversal of impairments - - -
At 30 June 2024 22,412 348,366 24,287
DEPRECIATION
At 1 July 2023 22,412 149,564 14,038
Charge for year - 48,987 3,034
Eliminated on disposal - (1,100 ) -
Reversal of impairments - - -
At 30 June 2024 22,412 197,451 17,072
NET BOOK VALUE
At 30 June 2024 - 150,915 7,215
At 30 June 2023 - 167,682 10,102

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 July 2023 275,622 68,642 708,062
Additions 148,956 28,256 209,579
Disposals (58,145 ) (25,946 ) (85,191 )
Reversal of impairments - 9,000 9,000
At 30 June 2024 366,433 79,952 841,450
DEPRECIATION
At 1 July 2023 129,654 59,297 374,965
Charge for year 56,757 6,715 115,493
Eliminated on disposal (55,723 ) (24,214 ) (81,037 )
Reversal of impairments - 9,000 9,000
At 30 June 2024 130,688 50,798 418,421
NET BOOK VALUE
At 30 June 2024 235,745 29,154 423,029
At 30 June 2023 145,968 9,345 333,097

L.A. METALS LIMITED (REGISTERED NUMBER: 02131280)

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

5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 July 2023 80,970 150,227 231,197
Additions - 148,956 148,956
Disposals - (58,145 ) (58,145 )
Transfer to ownership (80,970 ) (30,900 ) (111,870 )
At 30 June 2024 - 210,138 210,138
DEPRECIATION
At 1 July 2023 48,144 59,651 107,795
Charge for year 12,146 38,168 50,314
Eliminated on disposal - (55,723 ) (55,723 )
Transfer to ownership (60,290 ) 6,894 (53,396 )
At 30 June 2024 - 48,990 48,990
NET BOOK VALUE
At 30 June 2024 - 161,148 161,148
At 30 June 2023 32,826 90,576 123,402

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,264,803 1,232,169
Amounts owed by group undertakings 1,255,358 1,480,328
Other debtors 178,318 182,404
2,698,479 2,894,901

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 45,771 30,648
Trade creditors 918,966 1,100,490
Taxation and social security 241,890 354,038
Other creditors 422,371 140,767
1,628,998 1,625,943

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 9) 85,027 14,253

L.A. METALS LIMITED (REGISTERED NUMBER: 02131280)

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

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Gross obligations repayable:
Within one year 51,263 31,811
Between one and five years 95,553 15,388
146,816 47,199

Finance charges repayable:
Within one year 5,492 1,163
Between one and five years 10,526 1,135
16,018 2,298

Net obligations repayable:
Within one year 45,771 30,648
Between one and five years 85,027 14,253
130,798 44,901

Non-cancellable operating leases
2024 2023
£    £   
Within one year 128,003 134,629
Between one and five years 261,994 389,997
389,997 524,626

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Factors advances 305,300 -

Bank borrowings are secured by a fixed and floating charge over the company's assets.

11. RELATED PARTY DISCLOSURES

The company has provided finance to associated companies by way of an interest free loan that is repayable on demand. The amount outstanding at the balance sheet date was £1,255,358 (2023: £1,480,328). The company paid management charges of £96,000 (2023: £96,000) to the holding company.

12. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of JM & KM Group Limited. A copy of the accounts of the holding company may be obtained from the registered office: c/o L A Metals Ltd, Corner of Roebuck Lane and Dartmouth Road, Smethwick, West Midlands B66 1BY.