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REGISTERED NUMBER: 03485334 (England and Wales)








Audited Financial Statements

for the Year Ended

31 December 2024

for

Lyalvale Express Limited

Lyalvale Express Limited (Registered number: 03485334)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Lyalvale Express Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: J Rose
P Salvato





REGISTERED OFFICE: Express Estate
Fisherwick
Nr Whittington
Lichfield
Staffordshire
WS13 8XA





REGISTERED NUMBER: 03485334 (England and Wales)





AUDITORS: Nicklin Audit Limited
Chartered Accountants
Statutory Auditors
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Lyalvale Express Limited (Registered number: 03485334)

Balance Sheet
31 December 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,955,236 5,025,152
Investments 5 47,183 2,010,454
5,002,419 7,035,606

CURRENT ASSETS
Stocks 5,666,892 3,275,667
Debtors 6 4,183,804 2,047,395
Cash at bank and in hand 967,859 6,030
10,818,555 5,329,092
CREDITORS
Amounts falling due within one year 7 3,968,548 1,520,650
NET CURRENT ASSETS 6,850,007 3,808,442
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,852,426

10,844,048

CREDITORS
Amounts falling due after more than one year 8 (34,666 ) (51,307 )

PROVISIONS FOR LIABILITIES (87,978 ) (94,742 )
NET ASSETS 11,729,782 10,697,999

CAPITAL AND RESERVES
Called up share capital 262,391 262,391
Share premium 9 21,158 21,158
Capital redemption reserve 9 1,407,988 1,407,988
Other reserves 9 - 1,963,271
Retained earnings 9 10,038,245 7,043,191
SHAREHOLDERS' FUNDS 11,729,782 10,697,999

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 21 March 2025 and were signed on its behalf by:





J Rose - Director


Lyalvale Express Limited (Registered number: 03485334)

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

1. STATUTORY INFORMATION

Lyalvale Express 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. 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.

Preparation of consolidated financial statements
The financial statements contain information about Lyalvale Express Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 400 of the Companies Act 2006 from the requirements to prepare consolidated financial statements as it and its subsidiary undertaking are included by full consolidation in the consolidated financial statements of its parent, Fiocchi Munizioni SpA, via Santa Barbara 4, 23900 Lecco (LC), Italy.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on cost and 10% on cost
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on cost

Government grants
Grants have been received as compensation for costs already incurred or for immediate financial support, with no future related costs, these have been recognised as income in the period it was received.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks 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.


Lyalvale Express Limited (Registered number: 03485334)

Notes to the Financial Statements - continued
for the Year Ended 31 December 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.

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
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2023 - 23 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024 6,023,676 2,117,086 223,909 28,993 8,393,664
Additions - 58,998 63,015 48,596 170,609
At 31 December 2024 6,023,676 2,176,084 286,924 77,589 8,564,273
DEPRECIATION
At 1 January 2024 1,418,009 1,799,916 121,594 28,993 3,368,512
Charge for year 71,665 123,292 33,419 12,149 240,525
At 31 December 2024 1,489,674 1,923,208 155,013 41,142 3,609,037
NET BOOK VALUE
At 31 December 2024 4,534,002 252,876 131,911 36,447 4,955,236
At 31 December 2023 4,605,667 317,170 102,315 - 5,025,152

Included in cost of land and buildings is freehold land of £ 2,440,406 (2023 - £ 2,440,406 ) which is not depreciated.

Lyalvale Express Limited (Registered number: 03485334)

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

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2024 2,010,454
Disposals (1,963,271 )
At 31 December 2024 47,183
NET BOOK VALUE
At 31 December 2024 47,183
At 31 December 2023 2,010,454

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,737,540 1,163,875
Amounts owed by group undertakings 2,385,172 807,919
Other debtors 61,092 75,601
4,183,804 2,047,395

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 16,640 16,639
Trade creditors 862,995 299,562
Amounts owed to group undertakings 2,153,378 580,512
Taxation and social security 852,521 581,338
Other creditors 83,014 42,599
3,968,548 1,520,650

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 34,666 51,307

9. RESERVES
Capital
Retained Share redemption Other
earnings premium reserve reserves Totals
£    £    £    £    £   

At 1 January 2024 7,043,191 21,158 1,407,988 1,963,271 10,435,608
Profit for the year 2,995,054 2,995,054
Merger relief reserve - - - (1,963,271 ) (1,963,271 )
At 31 December 2024 10,038,245 21,158 1,407,988 - 11,467,391

Lyalvale Express Limited (Registered number: 03485334)

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

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Howell FCA (Senior Statutory Auditor)
for and on behalf of Nicklin Audit Limited

11. RELATED PARTY DISCLOSURES

Owners holding a participating interest:

During the year, the company purchased goods from its parent company amounting to £5,150,992 (2023- £1,385,315) and made sales of goods and services amounting to £5,123 (2023: £nil). At the balance sheet date, the company owed its parent company £2,152,378
(2023 - £244,414).


Companies in which the company has a participating interest

During the year, the company purchased goods from its subsidiary amounting to £nil (2023 - £642,223) and sold goods to its subsidiary amounting to £nil (2023 - £869,774). The subsidiary hived up assets to the company amounting to £1,614,560 (2023 - £nil) and paid dividends to the company amounting to £1,613,560 (2023 - £nil). At the balance sheet date, the company owed its subsidiary £1,000 (2023 - £807,919 owed from its subsidiary).


Other group companies:

During the year, the company purchased goods from other group companies amounting to £2,974,812 (2023 - £873,527) and sold goods to other group companies amounting to £7,383,640 (2023 - £45,665). At the balance sheet date, the company was owed from other group companies £2,385,172 (2023 - £336,096 owed to).


Directors:

At the balance sheet date, the directors were owed £1,294 (2023 - £nil).

12. ULTIMATE PARENT COMPANY

The ultimate parent company is Czechoslovak Group A.S. Group accounts can be obtained from the registered office;
U Rustonky 714/1, Prague 8, 186 00.