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REGISTERED NUMBER: 01882678 (England and Wales)






























FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THE LEICESTER BEARING COMPANY
LIMITED

THE LEICESTER BEARING COMPANY
LIMITED (REGISTERED NUMBER: 01882678)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE LEICESTER BEARING COMPANY
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr SJ March
Mr DG March
Mr KH Dand



REGISTERED OFFICE: Tunnel Top
10 Putney Road
Freemen's Common
Leicester
Leicestershire
LE2 7TF



REGISTERED NUMBER: 01882678 (England and Wales)



BANKERS: Barclays Bank Plc
Town Hall Square
Leicester
LE87 2BB

THE LEICESTER BEARING COMPANY
LIMITED (REGISTERED NUMBER: 01882678)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 205,333 -
Tangible assets 5 153,517 216,618
Investments 6 3,000 3,000
361,850 219,618

CURRENT ASSETS
Stocks 254,878 214,530
Debtors 7 2,420,674 1,894,526
Cash at bank and in hand 45,478 234,916
2,721,030 2,343,972
CREDITORS
Amounts falling due within one year 8 1,307,344 626,282
NET CURRENT ASSETS 1,413,686 1,717,690
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,775,536

1,937,308

CREDITORS
Amounts falling due after more than one
year

9

(385,797

)

(552,540

)

PROVISIONS FOR LIABILITIES (28,734 ) (33,344 )
NET ASSETS 1,361,005 1,351,424

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,360,005 1,350,424
SHAREHOLDERS' FUNDS 1,361,005 1,351,424

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

THE LEICESTER BEARING COMPANY
LIMITED (REGISTERED NUMBER: 01882678)

BALANCE SHEET - continued
31 DECEMBER 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 4 June 2025 and were signed on its behalf by:




Mr SJ March - Director



Mr DG March - Director


THE LEICESTER BEARING COMPANY
LIMITED (REGISTERED NUMBER: 01882678)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

The Leicester Bearing Company 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Revenue comprises the fair value for the sale of goods excluding value added tax and represents net invoice value less estimated rebates, returns and settlement discounts.

The company supplies products to customers under standard terms and conditions. In all cases revenue is recognised when the risks and rewards of ownership are transferred and this is defined to be on dispatch of the goods.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

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.

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.
Short leasehold - equal instalments over the lease period
Plant and machinery - 15% on cost
Fixtures and fittings - 15% to 25% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

THE LEICESTER BEARING COMPANY
LIMITED (REGISTERED NUMBER: 01882678)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


2. 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 the profit and loss account as incurred.

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.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Investments
Investments are included at cost less amounts written off. Profits or losses arising from disposals of fixed asset investments are treated as part of the results from ordinary activities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 13 ) .

THE LEICESTER BEARING COMPANY
LIMITED (REGISTERED NUMBER: 01882678)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 220,000
At 31 December 2024 220,000
AMORTISATION
Charge for year 14,667
At 31 December 2024 14,667
NET BOOK VALUE
At 31 December 2024 205,333

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024 7,331 27,607 242,990 219,369 497,297
Additions - - 6,374 - 6,374
At 31 December 2024 7,331 27,607 249,364 219,369 503,671
DEPRECIATION
At 1 January 2024 7,331 23,460 170,591 79,297 280,679
Charge for year - 2,262 24,855 42,358 69,475
At 31 December 2024 7,331 25,722 195,446 121,655 350,154
NET BOOK VALUE
At 31 December 2024 - 1,885 53,918 97,714 153,517
At 31 December 2023 - 4,147 72,399 140,072 216,618

THE LEICESTER BEARING COMPANY
LIMITED (REGISTERED NUMBER: 01882678)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 56,151 169,428 225,579
DEPRECIATION
At 1 January 2024 6,294 29,357 35,651
Charge for year 14,038 42,358 56,396
At 31 December 2024 20,332 71,715 92,047
NET BOOK VALUE
At 31 December 2024 35,819 97,713 133,532
At 31 December 2023 49,857 140,071 189,928

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2024
and 31 December 2024 3,000
NET BOOK VALUE
At 31 December 2024 3,000
At 31 December 2023 3,000

The directors do not consider the valuation of investments at the balance sheet date to be materially different from cost.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,070,304 597,304
Amounts owed by group undertakings 1,251,805 1,251,805
Other debtors 98,565 45,417
2,420,674 1,894,526

THE LEICESTER BEARING COMPANY
LIMITED (REGISTERED NUMBER: 01882678)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 50,000 50,000
Hire purchase contracts (see note 10) 46,394 49,351
Trade creditors 741,233 282,257
Taxation and social security 159,923 81,238
Other creditors 309,794 163,436
1,307,344 626,282

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 66,667 116,667
Hire purchase contracts (see note 10) 69,479 115,873
Other creditors 249,651 320,000
385,797 552,540

10. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 46,394 49,351
Between one and five years 69,479 115,873
115,873 165,224

Non-cancellable operating leases
2024 2023
£    £   
Within one year 56,506 56,506
Between one and five years 223,640 238,146
In more than five years 108,500 150,500
388,646 445,152

THE LEICESTER BEARING COMPANY
LIMITED (REGISTERED NUMBER: 01882678)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


11. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 116,667 166,667
Hire purchase contracts 115,873 165,224
Other loans 329,651 400,000
562,191 731,891

The bank loan is secured by a fixed and floating charge over the company's assets.

Amounts owing under hire purchase contracts are secured on the assets concerned.

The other loan is secured against the shares.

12. ULTIMATE CONTROLLING PARTY

The company regards March Brothers Holdings Limited, incorporated in England, as its ultimate parent company and controlling party.

The registered office is located at Granville Hall, Granville Road, Leicester, United Kingdom, LE1 7RU.