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REGISTERED NUMBER: 07355651 (England and Wales)















LESLEY, STEPHEN & CO. LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024






LESLEY, STEPHEN & CO. LIMITED (REGISTERED NUMBER: 07355651)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


LESLEY, STEPHEN & CO. LIMITED

COMPANY INFORMATION
for the year ended 30 September 2024







DIRECTORS: Mr I S Cummine
Mr H J Cummine
Mr A G Cummine





SECRETARY: Mr H J Cummine





REGISTERED OFFICE: The Media Centre
7 Northumberland Street
Huddersfield
West Yorkshire
HD1 1RL





REGISTERED NUMBER: 07355651 (England and Wales)





AUDITORS: SMH Sheards Audit Limited
Statutory Auditors
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS

LESLEY, STEPHEN & CO. LIMITED (REGISTERED NUMBER: 07355651)

BALANCE SHEET
30 September 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,375 4,485

CURRENT ASSETS
Debtors 5 11,536,468 10,990,527
Cash at bank and in hand 613,527 439,923
12,149,995 11,430,450
CREDITORS
Amounts falling due within one year 6 (2,108,898 ) (2,002,494 )
NET CURRENT ASSETS 10,041,097 9,427,956
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,043,472

9,432,441

CREDITORS
Amounts falling due after more than one
year

7

(8,770,205

)

(8,276,295

)

PROVISIONS FOR LIABILITIES 10 (220 ) -
NET ASSETS 1,273,047 1,156,146

CAPITAL AND RESERVES
Called up share capital 420 420
Share premium 935,634 935,634
Retained earnings 336,993 220,092
SHAREHOLDERS' FUNDS 1,273,047 1,156,146

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 13 June 2025 and were signed on its behalf by:





Mr H J Cummine - Director


LESLEY, STEPHEN & CO. LIMITED (REGISTERED NUMBER: 07355651)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2024


1. STATUTORY INFORMATION

Lesley, Stephen & Co. 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.

Turnover
Turnover represents interest and fees receivable on loans, excluding value added tax, recorded when the company becomes entitled to the income on a monthly basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and Straight line over 5 years monthly

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors, amounts owed by associated undertakings and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial assets, other than those held at fair value through profit or loss, are assessed for indicators of impairment at each balance sheet date, with any impairment losses being recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed in profit or loss.

Financial liabilities are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities, including trade and other creditors, bank loans, finance leases, accruals and amounts owed to associated undertakings, are initially recognised at transaction price.

Debt instruments are subsequently measured at amortised cost using the effective interest method.

Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire.

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.


LESLEY, STEPHEN & CO. LIMITED (REGISTERED NUMBER: 07355651)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 44,898
Additions 1,148
At 30 September 2024 46,046
DEPRECIATION
At 1 October 2023 40,413
Charge for year 3,258
At 30 September 2024 43,671
NET BOOK VALUE
At 30 September 2024 2,375
At 30 September 2023 4,485

5. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Trade debtors 1,934,188 1,553,717
Amounts owed by associates 37,556 -
Other debtors 46,918 90,708
2,018,662 1,644,425

LESLEY, STEPHEN & CO. LIMITED (REGISTERED NUMBER: 07355651)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


5. DEBTORS - continued
2024 2023
£    £   
Amounts falling due after more than one year:
Trade debtors 9,517,806 9,346,102

Aggregate amounts 11,536,468 10,990,527

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,806,607 1,556,922
Trade creditors - 67,542
Amounts owed to associates 169,934 228,127
Taxation and social security 36,844 -
Other creditors 95,513 149,903
2,108,898 2,002,494

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 8,491,839 7,997,429
Other creditors 278,366 278,866
8,770,205 8,276,295

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 2,288,760 1,860,231

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Between one and five years 54,716 81,879

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 10,298,446 9,554,351

Bank loans are secured via debenture. CBILS loans are secured under government backed initiatives.

LESLEY, STEPHEN & CO. LIMITED (REGISTERED NUMBER: 07355651)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2024


10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 220 -

Deferred
tax
£   
Charge to Income Statement during year 220
Balance at 30 September 2024 220

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

The Report of the Auditors was unqualified.

Kevin Winterburn FCA (Senior Statutory Auditor)
for and on behalf of SMH Sheards Audit Limited