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REGISTERED NUMBER: 02451475 (England and Wales)
























Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Lenson Select (U.K.) Limited

Lenson Select (U.K.) Limited (Registered number: 02451475)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Lenson Select (U.K.) Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: S Griffiths





REGISTERED OFFICE: Brandon Way
West Bromwich
West Midlands
B70 8JA





REGISTERED NUMBER: 02451475 (England and Wales)





ACCOUNTANTS: James, Stanley & Co. Limited
1,733 Coventry Road
South Yardley
Birmingham
West Midlands
B26 1DT

Lenson Select (U.K.) Limited (Registered number: 02451475)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 5 145,381 72,132

CURRENT ASSETS
Inventories 6 108,507 94,893
Debtors 7 240,303 303,638
Cash at bank and in hand 386,921 288,402
735,731 686,933
CREDITORS
Amounts falling due within one
year

8

293,239

247,271
NET CURRENT ASSETS 442,492 439,662
TOTAL ASSETS LESS CURRENT
LIABILITIES

587,873

511,794

CREDITORS
Amounts falling due after more
than one year

9

(67,141

)

(35,509

)

PROVISIONS FOR LIABILITIES (15,957 ) (17,884 )
NET ASSETS 504,775 458,401

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 504,675 458,301
SHAREHOLDERS' FUNDS 504,775 458,401

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 director acknowledges his 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.

Lenson Select (U.K.) Limited (Registered number: 02451475)

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 director and authorised for issue on 13 March 2025 and were signed by:





S Griffiths - Director


Lenson Select (U.K.) Limited (Registered number: 02451475)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Lenson Select (U.K.) 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.

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


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services provided, excluding value added tax.

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 - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
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 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.

Lenson Select (U.K.) Limited (Registered number: 02451475)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

3. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

Loans from directors
As a small entity the company measures a basic financial liability that are loans from directors at transaction price.

4. EMPLOYEES AND DIRECTORS

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

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 July 2023 600 33,696 122,282 156,578
Additions 6,951 5,276 110,985 123,212
Disposals - (18,620 ) (3,500 ) (22,120 )
At 30 June 2024 7,551 20,352 229,767 257,670
DEPRECIATION
At 1 July 2023 60 26,212 58,174 84,446
Charge for year 764 1,165 43,144 45,073
Eliminated on disposal - (16,246 ) (984 ) (17,230 )
At 30 June 2024 824 11,131 100,334 112,289
NET BOOK VALUE
At 30 June 2024 6,727 9,221 129,433 145,381
At 30 June 2023 540 7,484 64,108 72,132

Lenson Select (U.K.) Limited (Registered number: 02451475)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

5. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023 55,675
Additions 110,985
At 30 June 2024 166,660
DEPRECIATION
At 1 July 2023 13,919
Charge for year 38,185
At 30 June 2024 52,104
NET BOOK VALUE
At 30 June 2024 114,556
At 30 June 2023 41,756

6. INVENTORIES
30.6.24 30.6.23
£    £   
Stocks 108,507 94,893

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 226,871 280,344
Amounts owed by group undertakings - 1,829
Other debtors 3,025 9,630
Prepayments and accrued income 10,407 11,835
240,303 303,638

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts (see note 10)
29,920

11,655
Trade creditors 165,810 152,868
Amounts owed to group undertakings 971 -
Tax 49,634 37,753
Social security and other
taxes

36,384

33,950
Other creditors 394 361
Directors' current accounts 2 229
Accruals and deferred income 10,124 10,455
293,239 247,271

Lenson Select (U.K.) Limited (Registered number: 02451475)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts (see note 10)
67,141

35,509

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
30.6.24 30.6.23
£    £   
Net obligations repayable:
Within one year 29,920 11,655
Between one and five years 67,141 35,509
97,061 47,164

Non-cancellable operating leases
30.6.24 30.6.23
£    £   
Within one year 21,000 21,000
Between one and five years 84,000 84,000
In more than five years 57,750 78,750
162,750 183,750

11. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Hire purchase contracts 97,061 47,164

Obligations under finance leases and hire purchase contracts are secured by the related lease assets.

There is a charge over all the issued share capital of Lenson Select (UK) Limited dated 10 June 2022 in favour of Mr. and Mrs. Crofts.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.24 30.6.23
value: £    £   
100 Ordinary £1 100 100

13. CAPITAL COMMITMENTS
30.6.24 30.6.23
£    £   
Contracted but not provided for in the
financial statements - -

Lenson Select (U.K.) Limited (Registered number: 02451475)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

14. RELATED PARTY DISCLOSURES

Loans from key management personnel are unsecured and interest free with no specific repayment terms and is presented within creditors due within one year.

The balance with the holding company is unsecured and interest free with no specific repayment terms.

15. PARENT COMPANY

The company's parent company is Griffiths Electrical Distributors Limited whose principal place of business is Brandon Way, West Bromwich, West Midlands B70 8JA.